Rockwool A/s Class A · OMXCOP:ROCK_A
Rockwool A/s Class A — Shareholder Meeting (April 2025)
51 slides from Rockwool A/s Class A's shareholder meeting presentation, Apr 2, 2025
Slide 1: Annual General Meeting
Annual General Meeting 2 April 2025 Annual General Meeting | 2 April 2025 | ROCKWOOL A/S
Slide 2: Agenda
Agenda 1. The board of directors’ report on the company’s activities during the past financial year 2. Presentation of annual report with auditors’ report 3. Adoption of the annual report for the past financial year and discharge of liability for the management and the board of directors 4. Presenta
Slide 3: Agenda item 1 and 2
Agenda item 1 and 2 The board of directors’ report on the company’s activities during the past financial year and presentation of annual report with auditors’ report Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 3
Slide 4: Annual General Meeting
Annual General Meeting 02 April 2025 Annual General Meeting | 2 April 2025 | ROCKWOOL A/S
Slide 5: Agenda
Agenda 1 2 3 Sustainability Safety – our top and priority Global context decarbonisation 4 5 6 Financial results 2024 Outlook 2025 Questions Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 5
Slide 6: Safety – our top priority
Safety – our top priority Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 6
Slide 7: A few words on the global context
A few words on the global context Geopolitical tension USA War in Ukraine Trade policy continues EU Building renovation Competitiveness An opportunity and bureaucracy Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 7
Slide 8: Sustainability and decarbonisation
Sustainability and decarbonisation Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 8
Slide 9: Electrification at Flumroc the main decarbonisation driver in 2024
Electrification at Flumroc the main decarbonisation driver in 2024 Since setting SBTi-verified targets in 2020, ROCKWOOL has achieved 47% of its Scope 1 and 2 absolute emission reduction target. In 2024, the reduction was mainly driven by the electric conversion in Switzerland, leading to 75% emissi
Slide 10: Forward plans
Forward plans Update of our decarbonisation targets Evaluating potential scenarios to align with the 1.5°C pathway. Further developing innovation and related plans to achieve Net Zero by 2050. Electrification Romania Netherlands and France Adding a new electric production line. Electrifying existing
Slide 11: Strong progress on CO2 emission reduction targets
Strong progress on CO2 emission reduction targets SDG-related SBTi-related Baseline year 2015 (goal 2030) Baseline year 2019 (goal 2034) Scope 1 and 2 Absolute Scope 1 and 2 CO2 emission intensity Ahead of GHG emissions (CO2e) target 23% 18% 38% Strong 20% progress Absolute Scope 3 GHG emissions (CO
Slide 12: Status on other environmental goals
Status on other environmental goals Baseline year 2015 (goal 2030) Water use intensity (per tonne of stone wool produced)* On track 17% 20% Countries offering recycling service On track 24 30 countries Energy efficiency in own office buildings On track 39% 75% Waste to landfill from own production On
Slide 13: Financial results 2024
Financial results 2024 ROCKWOOL factory in Roermond, The Netherlands Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 13
Slide 14: FY 2024 highlights
FY 2024 highlights* Revenue Revenue increase in local currencies 3,855 MEUR 6% up 7% in reported figures EBIT EBIT margin 677 MEUR 17.5% up 31% up 3.2 percentage points Net profit Free cash flow 550 MEUR 364 MEUR up 161 MEUR down 31 MEUR *) Including acquisitions/divestments. 14 Annual General Meeti
Slide 15: 2024 regional revenue development
2024 regional revenue development Geographic share of revenue Growth in local currencies Key developments MEUR, reported figures Western Europe Eastern Europe and Russia Western Europe ▪ Germany, the United Kingdom, Spain and North America 2% Sweden performed well, while France, the Asia and others
Slide 16: 2024 profitability by business segment
2024 profitability by business segment EBIT EBIT margin MEUR (%) +31% +3.0 pp 2023 2023 2024 2024 431 565 13.6% 16.6% +29% +3.1 pp 87 112 10.5% 13.6% Insulation Systems Insulation Systems Insulation EBIT amounted to 565 MEUR, up 134 MEUR or Systems EBIT amounted to 112 MEUR, up 25 MEUR or 29 31 perc
Slide 17: Outlook full year 2025
Outlook full year 2025 1 Sales growth of low single-digit percent in local currencies. 2 EBIT margin around 16 percent. 3 Investments around 450 MEUR excluding acquisitions. Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 17
Slide 18: ROCK-B share price evolution
ROCK-B share price evolution 1 January to 31 December 2024 31 Dec 2024 DKK 2,556 +29% 1 Jan 2024 DKK 1,977 Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 18
Slide 19: Remuneration Report 2024
Remuneration Report 2024 ▪ Fee to the Board of Directors for 2024 totaled 800 KEUR. ▪ Remuneration to the Registered Directors for 2024 totaled 8,292 KEUR, including 4,084 KEUR related to one-time resignation costs and sign-on award. Remuneration KEUR 4,084 One-time 4,429 4,208 769 800 2023 2024 202
Slide 20: Welcoming Jes Munk Hansen
Welcoming Jes Munk Hansen Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 20
Slide 21: Thank you
Thank you Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 21
Slide 22: Q&A
Q&A Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 22
Slide 23: Agenda item 1 and 2
Agenda item 1 and 2 The board of directors’ report on the company’s activities during the past financial year and presentation of annual report with auditors’ report Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 23
Slide 24: Agenda item 3
Agenda item 3 Adoption of the annual report for the past financial year and discharge of liability for the management and the board of directors Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 24
Slide 25: Agenda item 3
Agenda item 3 • The board of directors proposes that the annual report is approved. • The board of directors proposes that the management and the board of directors are discharged from liability. Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 25
Slide 26: Agenda item 4
Agenda item 4 Presentation of and advisory vote on remuneration report Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 26
Slide 27: Agenda item 5
Agenda item 5 Approval of the remuneration of the board of directors for 2025/2026 Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 27
Slide 28: Approval of the remuneration of the board of directors for 2025/2026
Agenda item 5 Approval of the remuneration of the board of directors for 2025/2026 Under article 15.f of the Articles of Association, the general meeting determines the annual remuneration of the members of the board of directors. Chairman of the board of directors DKK 1,365,000 Deputy Chairmen of t
Slide 29: Agenda item 6
Agenda item 6 Allocation of profits according to the adopted accounts Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 29
Slide 30: Allocation of profits according to the adopted accounts
Agenda item 6 Allocation of profits according to the adopted accounts According to the 2024 annual report, the annual result of ROCKWOOL A/S amounts to 541 MEUR. The board of directors proposes a distribution of dividends for the financial year 2024 of 63 DKK (8.4 EUR) per share of a nominal value o
Slide 31: Agenda item 6
Agenda item 6 For the group, the annual result of 550 MEUR is allocated as follows: Dividend from the parent company of 63 DKK (8.4 EUR) 182 MEUR per share of nominally 10 DKK (as mentioned above) Retained earnings 368 MEUR 550 MEUR The dividend will be paid on 7 April 2025 after approval by the gen
Slide 32: Agenda item 7
Agenda item 7 Election of members to the board of directors Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 32
Slide 33: Board of directors
Board of directors Thomas Kähler Chairman ▪ Member of the Chairmanship and Audit Committee, and Chairman of the Remuneration and Nomination Committee ▪ Member of the Kähler Family Meeting ▪ Chairman of the Board of Metier Westergaard A/S ▪ Director and member of the Board of DURAPOR A/S ▪ Member of
Slide 34: Board of directors
Board of directors Jørgen Tang-Jensen Deputy Chairman ▪ Member of the Chairmanship, the Audit Committee (since September 2924) and the Remuneration and Nomination Committee ▪ Member of the Boards of VKR Holding A/S, VILLUM FONDEN and Maj Invest Holding A/S (and two fully owned subsidiaries) ▪ Chairm
Slide 35: Board of directors
Board of directors Rebekka Glasser Herlofsen Member of the board of directors ▪ Chairperson of the Audit Committee ▪ Member of the Boards and Chairperson of Audit Committees of Egmont Fonden and Egmont International Holding A/S ▪ Chairperson of the Boards of Norwegian Hull Club and Handelsbanken Nor
Slide 36: Board of directors
Board of directors Carsten Kähler Member of the board of directors ▪ Member of the Kähler Family Meeting ▪ Member of the Board of the Fahu Foundation, Denmark Carsten Kähler has competencies and experience gained within both global and Danish legal and accounting companies that will be useful in gen
Slide 37: Board of directors
Board of directors Ilse Irene Henne Member of the board of directors ▪ Member of the Executive Board of thyssenkrupp AG and Chief Executive Officer (CEO) of thyssenkrupp Materials Services ▪ Member of the Baden-Badener Unternehmer Gesprache e.V., Klasse 135, Germany ▪ Member of the Board and member
Slide 38: Board of directors
Board of directors Claes Westerlind Proposed elected to the board of directors ▪ President and CEO, NKT A/S Claes Westerlind has extensive experience with strategic management of international companies and a strong understanding of corporate management, strategy, marketing and sales through his act
Slide 39: Board of directors
Board of directors Connie Enghus Theisen Elected by the employees ▪ Senior Group Advisor, ROCKWOOL A/S Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 39
Slide 40: Board of directors
Board of directors Christian Westerberg Elected by the employees ▪ Senior Project Manager, ROCKWOOL A/S ▪ Member of the Board of the ROCKWOOL Foundation Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 40
Slide 41: Board of directors
Board of directors Janni Munkholm Nielsen Elected by the employees ▪ Project assistant, ROCKWOOL Danmark A/S ▪ Member of the Board of the ROCKWOOL Foundation Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 41
Slide 42: Annual General Meeting | 2 April 2025 | ROCKWOOL A/S
Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 42
Slide 43: Agenda item 8
Agenda item 8 Appointment of auditors Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 43
Slide 44: Agenda item 8
Agenda item 8 • The board of directors proposes re-appointment of PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab (PwC) as auditor of the company in accordance with the Audit Committee’s recommendation in respect of statutory financial and sustainability reporting. • The Audit Commit
Slide 45: Agenda item 9
Agenda item 9 Proposals from the board of directors or shareholders Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 45
Slide 46: Agenda item 9a
Agenda item 9a Authorisation to acquire own shares: • The board of directors proposes that the general meeting authorises the board of directors to allow the company to acquire own shares during the period until the next annual general meeting, i.e. class A shares as well as class B shares, of a tot
Slide 47: Agenda item 9b
Agenda item 9b Amendment of the nominal value of the company’s shares: • The board of directors proposes a share split in a ratio of 1:10, whereby the nominal value of the company's A and B shares will change from 10 DKK to 1 DKK. The 1:10 share split will be completed as soon as possible following
Slide 48: Agenda item 9c
Agenda item 9c Reduction of the company’s share capital for the purpose of cancelling own shares: • The board of directors proposes a reduction of the company’s share capital from nominally 216,207,090 DKK to nominally 211,605,790 DKK by cancellation of repurchased class B shares of nominally 4,601,
Slide 49: Agenda item 9d
Agenda item 9d Proposal to contribute 100 MDKK to the Foundation for Ukrainian Reconstruction: • Based on ROCKWOOL's wish to continue to actively contribute to the reconstruction of Ukraine, the board of directors proposes that the general meeting approves that an additional amount of 100 MDKK be co
Slide 50: Agenda item 10
Agenda item 10 Any other business Annual General Meeting | 2 April 2025 | ROCKWOOL A/S 50
Slide 51: Annual General Meeting
Annual General Meeting 2 April 2025 Annual General Meeting | 2 April 2025 | ROCKWOOL A/S