Slide 1: Q3 2024 Financial results
Q3 2024 Financial results 28 November 2024
Slide 2: Forward-looking statement
Forward-looking statement The statements on the future in this presentation, including expected sales 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 exchang
Slide 3: Q3 YTD highlights
Q3 YTD highlights Sales Sales increase in local currencies 2885 MEUR 7% up 7% in reported figures EBIT EBIT margin 514 MEUR 17.8% up 34%* up 3.5 percentage points Net profit Free cash flow 413 MEUR 358 MEUR up 124 MEUR up 73 MEUR *) This includes a donation of 13.4 MEUR to the Foundation for Ukraini
Slide 4: Q3 highlights
Q3 highlights Sales Sales increase in local currencies 957 MEUR 5% up 6% in reported figures EBIT EBIT margin 173 MEUR 18.1% up 18% up 1.9 percentage points Net profit Free cash flow 155 MEUR 197 MEUR up 46 MEUR up 19 MEUR 4
Slide 5: Q3 YTD sales up seven percent in local currencies
Q3 YTD sales up seven percent in local currencies Net sales Net sales per business segment MEUR MEUR +7% YTD Q3 2023 YTD Q3 2023 +7% +9% +9% YTD Q3 2024 Local currencies YTD Q3 2024 Local currencies YTD Q3 2024 Reported figures YTD Q3 2024 Reported figures 2098 2296 2686 2885 0% 0% 588 589 Q3 YTD 20
Slide 6: Q3 sales up 5 percent in local currencies
Q3 sales up 5 percent in local currencies Net sales Net sales per business segment MEUR MEUR Q3 2023 Q3 2023 Q3 2024 Local currencies +5% +6% Q3 2024 Local currencies +6% +7% Q3 2024 Reported figures Q3 2024 Reported figures 711 763 903 957 +2% +1% 192 194 Q3 2023 Q3 2024 Insulation Systems Insulati
Slide 7: Q3 regional sales development
Q3 regional sales development Growth in local currencies Key developments Geographic share of sales MEUR, reported figures Sales increased in several markets in the Western Europe Western Europe region. Market stagnation in France. 3% Eastern Europe and Russia three percent up in reported German
Slide 8: Q3 profitability improved
Q3 profitability improved EBITDA & EBIT +10% EBITDA / EBIT margin (%) MEUR +18% 253 241 219 216 24.3% 25.1% 25.2% 202 23.5% EBITDA margin 194 189 21.2% 21.7% 173 EBITDA 18.9% 18.7% 165 164 17.2% 18.1% EBIT margin 16.2% 16.5% 146 152 13.0% 14.5% 131 133 135 EBIT 14.4% 10.5% 12.0% 101 104 6.8% 68 Q3 2
Slide 9: Q3 profitability by business segment
Q3 profitability by business segment EBIT EBIT margin MEUR (%) +29% 154 17.8% 18.1% 14.9% 15.2% 15.4% 118 12.4% 13.7% -30% 11.9% 14.9% Q3 2023 7.7% 14.2% Insulation 14.6% Q3 2024 11.6% Systems 10.4% 10.1% 28 8.4% 19 5.8% 4.7% Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Insulation Systems I
Slide 10: Q3 investment activities
Q3 investment activities Investments excluding acquisitions and grants totalled 73 MEUR in Q3 2024, down 18 MEUR compared to 91 MEUR in Q3 2023. In Q3 2024, the largest investments were related to the conversion to electrical melter in Flumroc (Switzerland), new melting technology in Roermond (Net
Slide 11: Q3 free cash flow
Q3 free cash flow Q3 free cash flow was 197 MEUR, compared to Free cash flow 178 MEUR in Q3 2023. MEUR Q3: 19 MEUR 197 Net working capital was 9.9 percent (Q3 2023: 178 11.5 percent) of net sales and ended at 376 MEUR, a decrease of 41 MEUR compared to Q3 2023. 146 119 110 Share buy-back programme O
Slide 12: Growth opportunities in UK
Growth opportunities in UK Birmingham land purchase, eye on future factory • Lays ground to meet growing demand for non-combustible insulation. • Supplements existing factory in Wales. Wetherby Buildings Systems acquisition • Expands ROCKWOOL presence in UK external façade market. • Supports our
Slide 13: EPBD: from deal to on-the-ground delivery
EPBD: from deal to on-the-ground delivery 1. Trajectory for tens of millions of renovations in less than a decade Countries have committed to renovating one in four non-residential buildings and about 25m homes by 2033. 2. Von der Leyen II Commission committed to delivering 2030 goals Insulation dri
Slide 14: Outlook
Outlook 2024 14
Slide 15: Outlook full year 2024
Outlook full year 2024 1 Sales growth of around mid-single-digit percent in local currencies. 2 EBIT margin around 17 percent. 3 Investments around 375 MEUR excluding acquisitions. 2024 Outlook overview 7 February 2024 3 May 2024 18 July 2024 27 November 2024 Sales growth of around Sales growth of a
Slide 16: Key figures for the Group
Key figures for the Group MEUR Q3 Q3 YoY (%) Q3 Q3 YoY (%) FY 2024 2023 YTD YTD 2023 2024 2023 Income statement Net sales 957 903 6.0% 2885 2 686 7.4% 3620 EBITDA 241 219 9.9% 710 577 23.0% 779 EBIT 173 146 18.2% 514 383 34.1% 518 Profit before tax 183 148 23.6% 522 391 33.5% 522 Profit for the peri
Slide 17: Questions?
Questions? ZN Rockwoor
Slide 18: Thank you
Thank you ROCKWOOL A/S Hovedgaden 584 2640 Hedehusene Denmark CVR No. 54879415 Tel.: +45 46 56 03 00 www.rockwool.com 18