Rockwool A/s Class A · OMXCOP:ROCK_A
Rockwool A/s Class A — H1 2024 Earnings Presentation
17 slides from Rockwool A/s Class A's earnings presentation, Aug 22, 2024
Slide 1: H1/Q2 2024 Financial results
H1/Q2 2024 Financial results 22 August 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: H1 highlights
H1 highlights Sales Sales increase in local currencies 1928 MEUR 8% up 8% in reported figures EBIT EBIT margin 341 MEUR 17.7% up 44%* up 4.4 percentage points Net profit Free cash flow 258 MEUR 161 MEUR up 78 MEUR up 54 MEUR *) This includes a donation of 13.4 MEUR to the Foundation for Ukrainian Re
Slide 4: Q2 highlights
Q2 highlights Sales Sales increase in local currencies 1010 MEUR 10% up 10% in reported figures EBIT EBIT margin 189 MEUR 18.7% up 42%* up 4.2 percentage points Net profit Free cash flow 142 MEUR 146 MEUR up 40 MEUR up 27 MEUR *) This includes a donation of 7.4 MEUR to the Foundation for Ukrainian R
Slide 5: H1 sales up eight percent in local currencies
H1 sales up eight percent in local currencies Net sales Net sales per business segment MEUR MEUR +8% H1 2023 H1 2023 +8% H1 2024 Local currencies H1 2024 Local currencies +11% +11% H1 2024 Reported figures H1 2024 Reported figures 1 387 1 533 1 783 1 928 -1% 0% 396 395 H1 2023 H1 2024 Insulation Sys
Slide 6: Q2 sales up 10 percent in local currencies
Q2 sales up 10 percent in local currencies Net sales Net sales per business segment MEUR MEUR Q2 2023 Q2 2023 Q2 2024 Local currencies +10% +10% +12% +12% Q2 2024 Local currencies Q2 2024 Reported figures Q2 2024 Reported figures 723 809 917 1010 +3% +4% 194 201 Q2 2023 Q2 2024 Insulation Systems Sa
Slide 7: Q2 regional sales development
Q2 regional sales development Growth in local currencies Key developments Geographic share of sales MEUR, reported figures Western Europe Sales increase in many markets in the Western Europe region. 2% Eastern Europe and Russia three percent up in reported Especially Germany, Italy, and Sweden N
Slide 8: Q2 profitability improved
Q2 profitability improved EBITDA & EBIT +31% EBITDA / EBIT margin MEUR +42% 253 (%) 219 216 25.1% 24.3% 23.5% 194 202 21.7% EBITDA margin 187 189 21.2% EBITDA 18.4% 18.9% 18.7% 165 164 17.2% EBIT margin 152 16.2% 16.5% 146 13.0% 14.5% 131 131 133 135 EBIT 14.4% 12.9% 10.5% 12.0% 101 104 6.8% 68 Q2 2
Slide 9: Q2 profitability by business segment
Q2 profitability by business segment EBIT EBIT margin MEUR (%) +44% 159 17.8% 14.9% 15.2% 15.4% 110 12.4% 13.7% +33% 12.1% 11.9% 14.9% Q2 2023 7.7% 14.2% Insulation 14.6% Q2 2024 11.6% Systems 10.4% 10.0% 30 8.4% 23 5.8% 4.7% Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Insulation Systems I
Slide 10: Q2 investment activities
Q2 investment activities Investments excluding acquisitions and grants totalled 96 MEUR in Q2 2024, up 29 MEUR compared to 67 MEUR in Q2 2023. In Q2 2024, the largest investments were related to the conversion to electrical melter in Flumroc (Switzerland), additional Grodan capacity in Toronto (Ca
Slide 11: Q2 free cash flow
Q2 free cash flow Q2 free cash flow was 146 MEUR, compared to Free cash flow 119 MEUR in Q2 2023. MEUR Q2: +27 MEUR 178 Net working capital was 11.5 percent (Q2 2023: 13.4 percent) of net sales and ended at 433 MEUR, 146 a decrease of 69 MEUR compared to Q2 2023. 119 110 Share buy-back programme of
Slide 12: Sustainability performance
Sustainability performance Performance related to the five sustainability goals with 2030 time horizon remains on or ahead of schedule. Three percent CO2 emission intensity reduction in H1 2024, an important improvement over H1 2023. Index for H1 2024 ended at 84 compared to base year 2015 (inde
Slide 13: Outlook
Outlook 2024 13
Slide 14: 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 7 February 2024 3 May 2024 15 May 2024 18 July 2024 22 August 2024 overview Sales growth of Sales growth o
Slide 15: Key figures for the Group
Key figures for the Group MEUR Q2 Q2 YoY (%) H1 H1 YoY (%) FY 2024 2023 2024 2023 2023 Income statement Net sales 1 010 917 10.1% 1 928 1 783 8.1% 3 620 EBITDA 253 194 30.6% 469 358 31.1% 779 EBIT 189 133 41.9% 341 237 43.9% 518 Profit before tax 184 137 33.8% 339 243 39.5% 522 Profit for the period
Slide 16: Questions?
Questions? ZN Rockwoor
Slide 17: Thank you
Thank you ROCKWOOL A/S Hovedgaden 584 2640 Hedehusene Denmark CVR No. 54879415 Tel.: +45 46 56 03 00 www.rockwool.com 17