Rockwool (ROCK) AGM 2025 summary

Opening remarks and agenda

• AGM confirmed legal convening and quorum, with 84% of votes and 75% of share capital represented; agenda covered the annual report, remuneration, profit allocation, elections, auditor appointment and shareholder proposals.

• Safety, financial results, global context, sustainability and decarbonisation were highlighted.

Financial performance review

• 2024 revenue reached EUR 3,855 million, up 7% in reported figures; EBIT rose 31% to EUR 677 million.

• Net profit was EUR 550 million, up EUR 161 million, and free cash flow was EUR 364 million.

• Regional revenue grew 2% in Western Europe, 11% in Eastern Europe and Russia, 18% in North America, and 7% in Asia and other markets.

• Insulation revenue rose 8% to over EUR 3 billion, while Systems revenue declined 1%; EBIT margins were 16.6% for Insulation and 13.6% for Systems.

• 2025 outlook: low single-digit sales growth, EBIT margin of 16%, and investments of EUR 450 million.

Board and executive committee updates

• Jes Munk Hansen became CEO on September 1, succeeding Jens Birgersson.

• Ilse Irene Henne, Rebekka Glasser Herlofsen, Carsten Kähler, Thomas Kähler and Jørgen Tang-Jensen were re-elected; Claes Westerlind was elected as a new director.

• Thomas Kähler became chairman and Jørgen Tang-Jensen deputy chairman after the AGM; the Board’s self-evaluation found its composition appropriate for long-term value creation.