Rockwool (ROCK) AGM 2026 summary

Opening remarks and agenda

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

• Agenda covered the annual and remuneration reports, profit allocation, board elections, auditor appointment and shareholder proposals; the reports were approved and discharge granted.

Financial performance review

• 2025 revenue was EUR 3,877 million, up 0.6% reported and 2.7% in local currencies excluding Russia.

• EBIT before the Russian value adjustment was EUR 570 million, down 16%; its 14.7% margin fell 2.8 percentage points. Free cash flow was EUR 135 million, down EUR 229 million.

• A EUR 392 million Russian asset write-down contributed to net profit of EUR 28 million; net profit before the adjustment was EUR 438 million.

• Insulation revenue rose 1.5% to EUR 3.2 billion, while Systems revenue declined 0.5%; North America and Western Europe grew 5.0% and 1.5%, respectively.

Board and executive committee updates

• Ilse Irene Henne, Rebekka Glasser Herlofsen, Carsten Kähler, Thomas Kähler, Jørgen Tang-Jensen and Claes Westerlind were re-elected; Thomas Kähler became chairman and Jørgen Tang-Jensen deputy chairman.

• 2025 board and executive remuneration totaled EUR 844,000 and EUR 4.3 million, respectively; a 3.2% increase for board and registered directors was proposed for 2026/2027.

• Board self-assessment found its composition appropriate for long-term value creation; directors bring management, ESG and international business experience.