Kepler reinstates 'hold' for Rockwool after Russian asset seizure

Rockwool A/S

19/01/2026 12:33

** Kepler Cheuvreux reinstates "hold" for mineral wool products maker Rockwool ROCKb.CO, saying the removal of the Danish group's seized Russian business clarifies the outlook but leaves only a marginal upside to its revised valuation

** While the seizure removes EUR 261 million ($303.6 million) of revenue and EUR 78 million of EBIT, Rockwool's long-term risks now look more manageable and the investment case clearer, Kepler says

** "With a material share of net cash now vanished with the seizure of the Russian activities, we expect the dividend to fall to EUR 0.6 (from our prior EUR 0.7 expectation)," the broker adds

** With a solid core business performance and lower geopolitical risk, Kepler sees no trigger for a downgrade

** Out of 16 analysts that cover Rockwool, seven rate it "strong buy" or "buy", ​seven "hold" and two​ rate "strong sell" or "sell" - LSEG data

($1 = 0.8598 euros)

(Reporting by Elviira Luoma)

((Elviira.luoma@thomsonreuters.com))