Q2 2024 Rockwool A/S Earnings Call Transcript
Key Points
- Rockwool AS (RKWBF) reported an 8% growth in the first half of the year, driven by strong performance in the commercial sector.
- The company achieved a record growth in North America, with significant sales increases in both Canada and the US.
- EBIT margin improved to 18.7% in Q2, reflecting strong operational performance and effective cost management.
- Rockwool AS (RKWBF) is expanding its global footprint with a new factory project in India and a small acquisition in Vietnam, indicating strategic growth in Asia.
- The company is on track with its sustainability goals, achieving a 16% reduction in CO2 emission intensity since 2015.
- The residential sector remains challenging with no significant growth, impacting overall business performance.
- There are concerns about inflationary pressures, which may necessitate price increases in some markets.
- The new plant project in France faced legal setbacks, potentially delaying its construction and impacting future capacity.
- The company is nearing full capacity in the US, which could limit growth until new facilities are operational.
- There is a risk of increased competition in the stone wool market, although Rockwool AS (RKWBF) believes new entrants will face significant challenges.
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Thank you very much, and good afternoon, everybody. Sorry for the delay. We had some technical challenges here in Chennai from where we're taking the calls. Today, first of all, of course, I'm Kim Junge Andersen, the CFO. And with me here, I have the CEO, Jens Birgersson.
And today, we will present to you the first-half result and then afterwards, we'll be going to Q&A. Before we start, I'd just like to remind you on slide number 2, the forward-looking statement, and please be aware that this presentation contains uncertainties. And with this, we can quickly go into the presentation on slide number 3.
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Good morning. Good day, everyone. Its Jens here. Kim and I and the whole Board of Directors of Rockwool, including my successor, Jes Munk, they are in India, in Chennai, and the reason we are here doing a Board meeting about 90
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