Rockwool A/s Class A · OMXCOP:ROCK_A
Rockwool A/s Class A — Q3 2022 Earnings Presentation
18 slides from Rockwool A/s Class A's earnings presentation, November 2022
Slide 1: Q3 2022 Financial results
Q3 2022 Financial results
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 2952 MEUR 27% up 31% in reported figures EBIT EBIT margin 301 MEUR 10.2% down 2% down 3.4 percentage points Free cash flow Net profit 11 MEUR 170 MEUR down 105 MEUR down 61 MEUR 3
Slide 4: Extraordinary spike in energy costs
Extraordinary spike in energy costs 4
Slide 5: Q3 highlights
Q3 highlights Sales Sales increase in local currencies 1010 MEUR 21% up 27% in reported figures EBIT EBIT margin 68 MEUR 6.8% down 35% down 6.4 percentage points Free cash flow Net profit 59 MEUR 45 MEUR down 34 MEUR down 34 MEUR 5
Slide 6: Q3 YTD sales up 27 percent in local currencies
Q3 YTD sales up 27 percent in local currencies Net sales MEUR Net sales per business segment MEUR YTD Q3 2021 YTD Q3 2021 +27 % YTD Q3 2022 local currencies +35% +39% YTD Q3 2022 local currencies +31% YTD Q3 2022 reported figures YTD Q3 2022 reported figures 1670 2327 2246 2952 +5% +8% 576 625 YTD Q
Slide 7: Q3 sales up 21 percent in local currencies
Q3 sales up 21 percent in local currencies Net sales MEUR Net sales per business segment MEUR Q3 2021 Q3 2021 +21 % Q3 2022 Local currencies +32% Q3 2022 Local currencies +27% +25% Q3 2022 Reported figures Q3 2022 Reported figures 604 796 797 1010 +6% +11% 193 214 Q3 2021 Q3 2022 Insulation Systems
Slide 8: Q3 regional sales development
Q3 regional sales development Growth in local currencies Key developments Geographic share of sales MEUR, reported figures Many markets had double-digit growth. Western Europe Western Europe Especially Germany, Italy, the United Eastern Europe and Russia 25% Kingdom, and Nordics contributed to N
Slide 9: Q3 profitability highly impacted by the surge in energy prices
Q3 profitability highly impacted by the surge in energy prices EBITDA & EBIT MEUR EBITDA / EBIT margin (%) -17% -35% 187 160 157 155 21.7% 145 148 146 21.1% 20.7% 20.6% 139 19.7% 131 131 18.4% EBITDA 14.9% 17.2%16.8% EBITDA margin 111 100 100 105 102 14.3% 14.3% 13.0% 90 95 13.3% 13.2% 12.9% EBIT ma
Slide 10: Q3 profitability by business segment
Q3 profitability by business segment EBIT MEUR EBIT margin (%) -34% 78 20.1% 17.6% -41% Q3 2021 16.9% 14.3% 14.4%11.8% 52 Q3 2022 11.6% 12.1% Systems 13.2% 7.7% 27 Insulation 11.0% 10.3% 10.6% 11.2%9.4% 9.5% 10.0% 16 5.8% Insulation Systems Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Insul
Slide 11: Q3 investment activities
Q3 investment activities Investments excluding acquisitions totalled 85 MEUR in Q3 2022 (Q3 2021: 68 MEUR). The largest individual projects were the conversion to electrical melter in Flumroc (Switzerland) and new Grodan capacity in Canada. Investments excl. acquisitions MEUR 100 85 85 85 82 39 68
Slide 12: Q3 free cash flow
Q3 free cash flow Free cash flow MEUR Q3: -34 MEUR Q3 free cash flow was 59 MEUR, down 34 MEUR compared to Q3 2021, related to higher tax 89 93 payments and investments. 77 59 38 Net working capital was 12.2 percent (Q3 2021: 20 10.1 percent) of net sales and ended at 461 MEUR, 0 an increase of 163
Slide 13: Green transition
Green transition From crisis comes opportunity Climate Energy (in)- Energy SEE benefits action dependence efficiency of renovation Policy focus areas especially in EU constitute important business drivers for ROCKWOOL. Confluence of global concerns represent significant growth opportunity. Wit
Slide 14: Outlook 2022
Outlook 2022 14
Slide 15: Outlook full year 2022
Outlook full year 2022 Sales growth 20-25 percent in local currencies. 1 Sales EBIT margin between 10 and 12 percent. 2 EBIT Investment level around 330 MEUR excluding acquisitions, changed from 3 Investment previously around 375 MEUR. 2022 Outlook 9 February 18 August 24 August 23 November 18 May 2
Slide 16: Key figures for the Group
Key figures for the Group MEUR Q3 Q3 YoY (%) YTD Q3 YTD Q3 YoY (%) FY 2021 2022 2021 2022 2021 Income statement Net sales 1010 797 26.6% 2952 2246 31.4% 3088 EBITDA 131 157 -16.6% 473 456 3.8% 602 EBIT 68 105 -35.4% 301 306 -1.6% 401 Profit before tax 63 103 -39.2% 232 300 -22.7% 393 Profit for the
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/group 18