Hedehusene, Denmark, 2017-05-18 08:03 CEST (GLOBE NEWSWIRE) --
First quarter report of 2017 for
ROCKWOOL International A/S
Release no. 6 – 2017
to Nasdaq Copenhagen
ROCKWOOL International A/S
Hovedgaden 584, Indgang C
2640 Hedehusene
Tlf.: 46 56 03 00
www.rockwool.com
CVR-nr.: 54879415
18 May 2017
Sales growth and profit performance as expected
Highlights
* Driven by sales growth as expected and positively supported by more working days and favourable market conditions, first quarter net sales increased 6.0% in local currencies. Positive currency impact on net sales of 2.1%-points in the quarter, bringing the growth in reported currencies to 8.1%.
* Focus on increasing sales prices to offset significant raw material cost inflation.
* EBIT increased by 11% to EUR 46 million equal to an 8.6% EBIT margin in the first quarter.
* Investment expenditure was EUR 35 million.
* Free cash flow decreased by EUR 14 million to EUR -50 million versus first quarter 2016. This mainly relates to increased trade receivables from higher sales and a larger seasonal inventory level.
* Net profit for the first quarter reached EUR 32 million, an improvement of EUR 4 million.
* ROCKWOOL Group also issues today its 2016 Sustainability Report, available on www.rockwool.com.
Full year Outlook 2017 maintained
* The Group’s net sales are expected to show positive growth of 2-4% in local currencies.
* EBIT margin is expected to be slightly above 10%.
* Investment expenditure is expected at around EUR 130 million excluding acquisitions.
CEO comment
Commenting on the Group’s performance, CEO Jens Birgersson says:
“We have had a solid start to the new year. I’m very pleased with the broad geographic scope of our sales volume growth as well as profit performance. The big challenge for the year remains compensating for the particularly extensive raw material cost inflation across all major markets. We are pursuing a policy of controlled flexibility to increase prices and reinforce margins”.
Further information:
Kim Junge Andersen, Chief Financial Officer
ROCKWOOL International A/S
+45 46 56 03 00
