Rockwool A/S (RKWBF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to everyone and welcome to Rockwool's conference calls regarding the result for the first quarter of 2025. My name is Kim Jung Andersen. I'm the CFO of Rockwool AS. Today, I'm pleased to present CEO Jens Munch Hansen. For the first part of this call, all participants will be in listen-only mode. As a reminder, this conference call is being recorded. First, YES will go through our presentation and give you an update on the results for the first quarter of 2025. Afterwards, we'll be ready to answer all your questions. Before I hand over the word to YES, I must ask you to notice slide number two, which is a forward-looking statement. Please be aware that this presentation contains uncertainties. Now we can go to slide three, which is Next slide, which is number three. Yes, I'll now hand over the word to you. Thank you, Kim, and good morning. We had a solid start in Rockwell, a solid start to the year in a difficult environment. And when we look at the Q1 highlights, revenue for the first quarter reached 959 million euro. And that's an increase of 4 percent measured both in local and in reported figures compared to last year. Two percent of this increase comes from the acquisitions we made in October last year, and the other two percent come from volume growth throughout the group, where pricing had a neutral impact in Q1. In short, we are quite pleased with our growth performance in this otherwise subdued construction market. EBITS landed at 154 million euro, generating an EBIT margin of 16%. Slide number four. Looking at revenue in the insulation segment, we actually had a 5% revenue growth, which was primarily driven by our business in North America. And this was offset by a somewhat slowdown in East Europe, a particular slowdown in Russia. And here, just...