Brief: Rockwool Hikes FY EBIT Margin Outlook To 14%

Rockwool A/S

22/11/2023 14:21

Nov 22 (Reuters) - Rockwool A/S  ROCKb.CO :
    * STRONG RESULTS IN A CHALLENGING MARKET
    * OUTLOOK 2023: SALES DECLINE OF 4-5% IN LOCAL CURRENCIES,
CHANGED
FROM PREVIOUSLY UP TO 8%
    * OUTLOOK 2023: EBIT MARGIN AROUND 14%, CHANGED FROM
PREVIOUSLY
AROUND 13%
    * OUTLOOK 2023: INVESTMENT LEVEL AROUND EUR 325 MLN
EXCLUDING
ACQUISITIONS
    * SALE DECREASE OF 6% IN LOCAL CURRENCIES AND 9% IN REPORTED
FIGURES, DRIVEN BY LOWER SALES IN MANY EUROPEAN MARKETS
    * SALES ARE DOWN, BUT LESS THAN EXPECTED
    * EARNINGS RECOVERED TO MORE NORMALISED LEVELS, HELPED ALONG
BY
STABLE PRICING AND LOWER IF STILL HIGH ENERGY PRICES
    * EUROPEAN CONSTRUCTION ACTIVITY, BOTH RESIDENTIAL AND
COMMERCIAL,
IS LIKELY TO REMAIN LOW
    * DEMAND IN NORTH AMERICA AND ASIA LOOKS MORE POSITIVE

Source text for Eikon:  ID:nGNE8XC6ll 
Further company coverage:  ROCKb.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))