Brief: Rockwool Upgrades Expected Sales Growth, Earnings Margin For 2024

Rockwool A/S

03/05/2024 12:39

May 3 (Reuters) - Rockwool A/S  ROCKb.CO :
    * UPGRADES EXPECTED SALES GROWTH AND EARNINGS MARGIN FOR
FULL-YEAR
2024
    * NET SALES FOR Q1 2024 REACHED 918 MEUR, AN INCREASE OF SIX
PERCENT IN LOCAL CURRENCIES
    * HIGHER THAN EXPECTED SALES IN NON-RESIDENTIAL SEGMENT
    * EBIT IN Q1 2024 INCREASED 46 PERCENT TO 152 MEUR, WITH A
16.5
PERCENT EBIT MARGIN, UP 4.5 PERCENTAGE POINTS FROM Q1 2023
    * SOME INPUT COSTS HAVE STARTED TO RISE, WHICH IS EXPECTED
TO
INCREASE OUR PRODUCTION COSTS IN COMING QUARTERS
    * PROFITABILITY IS MORE CHALLENGED IN REMAINDER OF 2024
    * FULL-YEAR 2024 OUTLOOK FOR NET SALES UPGRADED TO A GROWTH
OF
AROUND MID-SINGLE-DIGIT PERCENT IN LOCAL CURRENCIES
    * PREVIOUS GUIDANCE OF SALES AT ROUGHLY AT SAME LEVEL AS IN
2023
    * EXPECT EBIT MARGIN TO IMPROVE TO AROUND 15 PERCENT FROM
PREVIOUSLY FORECASTED OUTLOOK OF AROUND 13 PERCENT
    * EXPECTED INVESTMENT LEVEL EXCLUDING ACQUISITIONS IS
MAINTAINED

Source text for Eikon:  ID:nGNE5fD3NW 
Further company coverage:  ROCKb.CO 

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