Danish stone wool producer Rockwool reported revenue and EBITDA results that surpassed expectations in the fourth quarter. However, the board is proposing a reduced dividend.
Revenue declined by 0.3 percent to 967 million euros (970). This outcome can be compared with the company's analyst consensus, which stood at 943.
EBITDA amounted to 199 million euros (230), with expectations at 184, resulting in an EBITDA margin of 20.6 percent (23.7).
Operating profit was -279 million euros (163). The company has incurred a charge of 392 million euros for its Russian operations, which have been taken over by the Russian state.
Adjusted operating profit totaled 113 million euros (163), in line with expectations at 113, with an adjusted operating margin of 11.7 percent (16.8).
Net profit after tax was -332 million euros (137), while analyst consensus was 81.
The proposed ordinary dividend is 4.15 euros per share (6.30).
For 2026, Rockwool guides for revenue growth of between 2 and 4 percent in local currencies and expects an operating margin of 13-14 percent. Investments are estimated to reach around 650 million euros, excluding acquisitions.
Rockwool A/S is the world leader of manufacturing and marketing of rock wool insulation and waterproofing products. Net sales break down by family of products as follows:
- insulation and waterproofing products (82.7%): thermal insulation, acoustic insulation, fire protection, and water damage protection products for private homes, group residences, administrative and commercial buildings;
- stone wool-based products, noise and vibration control, rainwater management, and prefab building systems (17.3%): acoustic ceilings, panels for covering façades, anti-noise walls, anti-vibration panels, growth substrates for vegetables and flowers, reinforcing fibers, etc.
At the end of 2025, the group had 40 manufacturing facilities worldwide.
Net sales are distributed geographically as follows: Western Europe (56.8%), Eastern Europe and Russia (19.2%), North America (19%) and other (5%).
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