Rockwool (ROCK) AGM 2026 summary

Opening remarks and agenda

• AGM was lawfully convened and quorate, with 74% of votes and 69% of capital represented.

• Covered board report, annual report adoption, remuneration, profit allocation, board elections, auditor appointment, and shareholder proposals.

• Agenda included standard items, plus proposals to authorize share buybacks and reduce share capital.

Financial performance review

• Group revenue for 2025 was just under EUR 3.9 billion (3,877 MEUR), up 1% overall and 2.7% in local currencies excluding Russia.

• EBIT before Russian impairment was EUR 570 million (14.7% margin), down 2.7–2.8 percentage points and 16% year-on-year.

• Russian asset write-down of EUR 392 million led to a profit after tax of EUR 28 million; net profit before adjustment was EUR 438 million.

• Insulation segment grew 1.5% to EUR 3.2 billion, 83% of group turnover; Systems segment revenue fell 0.5%.

• Regional growth strongest in North America (+5.0%) and Western Europe (+1.5%), with declines in Eastern Europe and Asia.

• Net debt now EUR 168 million, compared to a previously positive cash position.

• Free cash flow was EUR 135 million, down EUR 229 million.

Board and executive committee updates

• Board and executive remuneration for 2025 totaled EUR 844,000 and EUR 4.3 million, about half of last year due to severance and stock options in 2024.

• Remuneration for the board and registered directors increased for 2025; proposed further 3.2% increase for 2026/2027.

• Board self-assessment concluded composition is appropriate for long-term value creation.

• Board members have extensive experience in management, ESG, and international business.

• Board members and auditor PwC were reelected.