Rockwool A/s Class A · OMXCOP:ROCK_A

Rockwool A/s Class A — ROCKWOOL International — FY2019 Earnings Presentation

18 slides from Rockwool A/s Class A's earnings presentation, February 2020

  1. Slide 1: Q4/FY 2019 Financial results

    Q4/FY 2019 Financial results 1

  2. 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

  3. Slide 3: Highlights FY 2019

    Highlights FY 2019 Sales of Sales increase in local currencies EUR 2,757 million 2.2% up 3.2% in reported figures EBIT of EBIT margin of EUR 372 million 13.5% up 9.1% over last year up 0.7 percentage points Free cash flow of Net profit EUR 2 million EUR 285 million down from EUR 196 million last yea

  4. Slide 4: Highlights Q4

    Highlights Q4 Sales of Sales decrease in local currencies EUR 715 million 0.6% up 0.7% in reported figures EBIT of EBIT margin of EUR 94 million 13.2% up 12.9% over last year up 1.5 percentage points Free cash flow of Net profit EUR -3 million EUR 72 million down from EUR 58 million last year improv

  5. Slide 5: FY 2019 sales growth of 2.2%

    FY 2019 sales growth of 2.2% NET SALES EURm +2.2% +3.2% Sales grew 2.2% in local currencies, and reached EUR 2,757 million. Sales increased 3.2% in reported figures with a Reported figures positive currency effect of 1.0 percentage point. 2,671 2,757 Local currencies FY 2018 FY 2019 NET SALES PER BU

  6. Slide 6: Q4 sales decreased 0.6%

    Q4 sales decreased 0.6% NET SALES EURm -0.6% +0.7% Sales down 0.6% in local currencies, and reached EUR 715 million. Reported figures Sales increased 0.7% in reported figures with a positive currency effect of 1.3 percentage points. 709 715 Local currencies Q4 2018 Q4 2019 NET SALES PER BUSINESS SEG

  7. Slide 7: Regional sales development Q4

    Regional sales development Q4 Growth in local currencies Key developments Share of sales* Western Europe  Especially France and the United Kingdom performed well.  Germany had a difficult quarter. +0.2% 59% +0.4% incl. FX effect CEE incl. Russia  General decline in region.  Minor growth in Russi

  8. Slide 8: Profitability Q4

    Profitability Q4 +13.6% +12.9% EBITDA up 13.6% to EUR 142 million. EBITDA & EBIT EURm 144 142 142  EBITDA margin of 19.9% compared to 17.6% in 132 138 125 the same quarter last year. 120 109 112 97 102 99 91 94 EBITDA  EBITDA margin adjusted for the IFRS 16 lease 73 83 77 70 EBIT reclassification

  9. Slide 9: Good underlying profitability in both segments in Q4

    Good underlying profitability in both segments in Q4 +10.1% EBIT EURm 70 63 +21.9% Insulation EBIT increased 10.1% to EUR 70 million in Q4 2019. Q4 2018 Q4 2019  EBIT margin increased 1.1 percentage points to 24 20 11.5%. Insulation Systems Systems EBIT increased 21.9% to EUR 24 million in EBIT MAR

  10. Slide 10: Increased investment activities

    Increased investment activities Investments totalled EUR 108 million in Q4 2019 (Q4 2018: EUR 85 million). Investments totalled EUR 400 million FY 2019 (2018: EUR 222 million).  Capacity investments mainly relate to the factory projects in the United States (West Virginia) and Romania as well as th

  11. Slide 11: Latest developments

    Latest developments China factory relocation from Guangzhou to Fogang in 2021. On 21 January 2020 in positive cooperation with authorities, an agreement was signed with the Chinese government:  Goal to relocate/upgrade factory within 24 months. Acquisition of the Parafon business from Owens Corning

  12. Slide 12: Free cash flow

    Free cash flow  Full year free cash flow ended at EUR 2 million, down EUR 194 million compared to 2018, mainly due to higher investments and tax payments. FREE CASH FLOW EURm Q4: EUR -61m  NWC ended at 9.0% (2018: 7.4%) of net sales, increasing from EUR 198 million end of 2018 to 110 EUR 247 milli

  13. Slide 13: Initiation of share buy-back programme

    Initiation of share buy-back programme Initiation of share buy-back programme  From 6 February 2020 to 5 February 2021.  Up to a maximum of EUR 80 million.  Maximum 250,000 and 400,000 of A and B shares respectively.  Weekly announcements to Nasdaq Copenhagen on the number of shares bought-back

  14. Slide 14: Outlook for 2020

    Outlook for 2020 14

  15. Slide 15: Outlook for full year 2020

    Outlook for full year 2020 Low single-digit growth in local 1. Sales currencies. EBIT margin around 12 percent, 2. EBIT comparable to 2019 when adjusting for the additional depreciation and the start-up costs in Norway and Germany. Investment level around EUR 400 3. Investment million excluding acqu

  16. Slide 16: Key figures for the Group

    Key figures for the Group EURm Q4 2019 Q4 2018 YoY (%) FY 2019 FY 2018 YoY (%) Income statement Net sales 715 709 0.7% 2,757 2,671 3.2% EBITDA 142 125 13.6% 548 507 8.2% EBIT 94 83 12.9% 372 341 9.1% Profit before tax 97 85 13.2% 367 335 9.6% Profit for the period 72 66 7.7% 285 265 7.6% Balance she

  17. Slide 17: Questions?

    Questions? 17

  18. Slide 18: ROCKWOOL International A/S

    ROCKWOOL International A/S Hovedgaden 584 DK-2640 Hedehusene Denmark CVR No. 54879415 Tel: +45 46 56 03 00 www.rockwoolgroup.com 18

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