Slide 1: Half-year 2025 Financial results
Half-year 2025 Financial results ROCKWOOL trucks, Denmark
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, such as the global economic environment, including interest and ex
Slide 3: H1 highlights
H1 highlights* Revenue Revenue increase in local currencies 1,947 MEUR 1% up 1% in reported figures EBIT EBIT margin 307 MEUR 15.8% down 10% down 1.9 percentage points Net profit Free cash flow Fogang factory, China 238 MEUR 37 MEUR down 20 MEUR down 124 MEUR *) Including acquisitions. 3
Slide 4: Q2 highlights
Q2 highlights* Revenue Revenue decrease in local 988 MEUR currencies down 2% in reported figures 2% EBIT EBIT margin 153 MEUR down 19% 15.5% down 3.2 percentage points Fogang factory, China Net profit Free cash flow 122 MEUR 84 MEUR down 20 MEUR down 62 MEUR *) Including acquisitions. 4
Slide 5: H1 revenue up one percent in local currencies
H1 revenue up one percent in local currencies Net revenue Net revenue per business segment MEUR MEUR H1 2024 H1 2024 H1 2025 Local currencies H1 2025 Local currencies +1% +2% +1% H1 2025 Reported figures H1 2025 Reported figures +1% 1,533 1,556 1,928 1,947 -1% -1% 395 391 Insulation Systems H1 2024
Slide 6: Q2 revenue down two percent in local currencies
Q2 revenue down two percent in local currencies Net revenue Net revenue per business segment MEUR MEUR Q2 2024 Q2 2024 Q2 2025 Local currencies Q2 2025 Local currencies -2% -2% -2% Q2 2025 Reported figures Q2 2025 Reported figures -2% 1,010 988 809 792 -2% -3% 201 196 Q2 2024 Q2 2025 Insulation Syst
Slide 7: Q2 regional revenue development
Q2 regional revenue development Growth in local currencies Key developments Geographic share of revenue MEUR, reported figures UK, Italy, Spain and the Netherlands performed Western Europe well. Revenue declined in Germany, France and Western Europe 0% the Nordic countries. Eastern Europe and Russ
Slide 8: Q2 profitability decreased
Q2 profitability decreased EBITDA & EBIT EBITDA / EBIT margin -10% MEUR (%) -19% 253 241 230 223 227 219 216 202 194 189 EBITDA margin EBITDA 173 163 146 152 154 153 EBIT 24.3% 25.1% 25.2% 135 23.5% 23.7% 23.2% 23.0% EBIT margin 133 21.2% 21.7% 18.7%18.1% 16.2% 16.5% 16.7% 16.0% 14.5% 15.5% 14.4% Q2
Slide 9: Q2 profitability by business segment
Q2 profitability by business segment EBIT EBIT margin MEUR (%) -18% 159 17.8% 18.1% 15.4% 15.0% 15.6% 14.9% 131 14.9% 15.2% 13.7% -25% 14.6% Q2 2024 14.9% 14.7% Insulation 11.6% Q2 2025 14.2% 11.0% 11.5% Systems 10.1% 30 4.7% 22 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Insulation System
Slide 10: Q2 investment activities
Q2 investment activities Investments excluding acquisitions totalled 94 MEUR in Q2 2025, up 3 MEUR. In Q2 2025, the largest investments related to additional capacity in Romania, electrification of production lines in the Netherlands and France as well as the factory project in the United States.
Slide 11: Q2 free cash flow
Q2 free cash flow Free cash flow Q2 free cash flow was 84 MEUR, down 62 MEUR MEUR Q2: -62 MEUR compared to Q2 2024. The decrease was mainly 197 related to lower earnings than last year and a less 178 favourable development in net working capital. 146 119 Net working capital was 12.4 percent (Q2 2024
Slide 12: Progress on sustainability goals H1 2025
Progress on sustainability goals H1 2025 Baseline year 2015 (goal 2030) © Scope 1 and 2 CO, emission intensity ee 24% BL ©. Water use intensity es 13% a 20% ©) Reclaimed material es 24 ae 30 countries (A Energy efficiency in own buildings ely} 75% &a Landfill waste es 2 ed 85% Ahead of target On tra
Slide 13: Outlook
Outlook 2025 Hardock Multfix DD, Trapizoidal Firestop and Acoustic Infills at Cobham Free School, UK 13
Slide 14: Outlook full year 2025
Outlook full year 2025 1 Revenue at level with last year in local currencies, changed from growth of low single-digit percent in local currencies 2 EBIT margin below 16 percent, changed from around 16 percent 3 Investments around 450 MEUR excluding Canteen in Ecole Mission à Papeete with Rockfon Ekl
Slide 15: Key figures for the Group
Key figures for the Group MEUR Q2 Q2 YoY H1 H1 YoY FY 2025 2024 (%) 2025 2024 (%) 2024 Statement of profit and loss Revenue 988 1,010 -2.2% 1,947 1,928 1.0% 3,855 EBITDA 227 253 -10.4% 450 469 -4.1% 940 EBIT 153 189 -18.8% 307 341 -9.9% 677 Profit before tax 160 184 -12.3% 313 339 -7.6% 696 Profit f
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