Slide 1: Q1 2025 Financial results
Q1 2025 Financial results ROCKWOOL products at European Space Agency (ESA) lunar habitat, ESA’s LUNA-facility, Köln, Germany
Slide 2: Forward-looking statement
Forward-looking statement The statements on the future in this presentation, including expected revenue and earnings, are associated with risks and uncertainties and may be affected by factors influencing the activities of the Group, e.g. the global economic environment, including interest and excha
Slide 3: Q1 highlights
Q1 highlights* Revenue Revenue increase in local currencies 959 MEUR 4% up 4% in reported figures EBIT EBIT margin 154 MEUR 16.0% up 1% down 0.5 percentage points Net profit Free cash flow Lakeside office and service complex utilising ROCKWOOL stone wool insulation materials, Warsaw’s Mokotów distri
Slide 4: Q1 revenue up four percent in local currencies
Q1 revenue up four percent in local currencies Net revenue Net revenue per business segment MEUR MEUR Q1 2024 Q1 2024 Q1 2025 Local currencies +4% Q1 2025 Local currencies +5% +5% +4% Q1 2025 Reported figures Q1 2025 Reported figures 918 959 724 764 0% +1% 194 195 Q1 2024 Q1 2025 Insulation Systems
Slide 5: Q1 regional revenue development
Q1 regional revenue development Growth in local currencies Key developments Geographic share of revenue MEUR, reported figures Growth driven by the acquisition in UK. Western Europe Western Europe 4% Spain, UK, Norway, and Switzerland performed Eastern Europe and Russia five percent up in repo
Slide 6: Q1 profitability stable
Q1 profitability stable EBITDA & EBIT EBITDA / EBIT margin +3% MEUR +1% (%) 253 241 230 219 223 216 25.2% 202 24.3% 23.5% 25.1% 23.7% 23.2% 194 21.7% EBITDA margin 189 173 18.9% 21.2% 164 163 EBITDA 18.7% 18.1% 152 154 16.7% EBIT margin 146 16.5% 16.0% 133 135 EBIT 14.5% 16.2% 14.4% 12.0% 104 Q1 23
Slide 7: Q1 profitability by business segment
Q1 profitability by business segment EBIT EBIT margin MEUR (%) +6% 18.1% 17.8% 124 132 15.2% 15.4% 15.0% 15.6% 12.4% 13.7% 14.9% -22% Q1 2024 14.9% 14.7% Insulation 11.6% 14.6% 14.2% Q1 2025 10.4% 11.0% Systems 10.1% 28 22 4.7% Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Insulation Systems
Slide 8: Q1 investment activities
Q1 investment activities Investments excluding acquisitions totalled 93 MEUR in Q1 2025, up 9 MEUR. In Q1 2025, the largest investments related to additional capacity in Romania, electrification of two lines in the Netherlands and the new factory project in the United States. Investments excl. acq
Slide 9: Q1 free cash flow
Q1 free cash flow Free cash flow Q1 free cash flow was -47 MEUR, down 62 MEUR MEUR Q1: -62 MEUR compared to Q1 2024. The decrease was mainly 197 related to timing of tax settlement and less 178 favourable development in net working capital. 146 119 Net working capital was 12.0 percent (Q1 2024: 110
Slide 10: Outlook
Outlook 2025 Products for recycling, Finland 10
Slide 11: Outlook full year 2025
Outlook full year 2025 1 Revenue growth of low single-digit percent in local currencies. 2 EBIT margin around 16 percent. Rockfon Color-all products used in Aker Tech House, Oslo, Norway 3 Investments around 450 MEUR excluding acquisitions. 11
Slide 12: Key figures for the Group
Key figures for the Group MEUR Q1 2025 Q1 2024 YoY (%) FY 2024 Statement of profit and loss Revenue 959 918 4.5% 3,855 EBITDA 223 216 3.4% 940 EBIT 154 152 1.1% 677 Profit before tax 153 155 -2.0% 696 Profit for the period 116 116 0.0% 550 Statement of financial position Total assets 4,177 3,661 14.
Slide 13: Questions?
Questions? ZN Rockwoor
Slide 14: Thank you
Thank you ROCKWOOL A/S Hovedgaden 584 2640 Hedehusene Denmark CVR No. 54879415 Tel.: +45 46 56 03 00 www.rockwool.com 14