Rockwool A/S (RKWBF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day to everyone and welcome to Rockwell AS's conference calls regarding the results for the first half of 2025. My name is Kim Jung Andersen and I'm the CFO of Rockwell AS. Today I am pleased to present CEO Jes Munch Hansen. For the first part of this call, all participants will be in listening-only mode. As a reminder, this conference call is being recorded. First, Jes will go through our presentation and give you an update of the results for the first half and second quarter of 2025. Afterwards, we will be ready to answer all your questions. Before I hand over the word to Jess, I must remind you on slide number two, on the forward-looking statement, and please be aware that this presentation contains uncertainties. Now we can go to the next slide. Slide number three. As you all are aware, the construction industry is still very much challenged in the macro context, owing to an increased uncertainty and geopolitical turmoil. And at least from our side, we do not expect that to change for the rest of the year. For us, the revenue in the first half increased by 1%, where the acquisitions we made in October last year contributed with a 2% increase. As expected, the decline in Russian group performance influenced the group, and without Russia, the organic growth would have been stable. Pricing had a neutral impact in the first half year, where inflation and sales prices by large were offsetting each other. As expected, the EBIT margin declined now to 15.8%. However, we think the results are acceptable as it comes on the back of an unusually high performance in both North America and Russia last year. If I go to the Q4 highlights on the next page, you see that in Q2, sales were affected by fewer working days and a continued decline in Russia. Also, the record high p...