Search Annual Report 2020 Considering the global nature of the COVID-19 shock, our performance during the year was strong. While sales declined overall, we achieved a robust level of profitability by adjusting production and keeping costs down. Net sales declined 3.7 percent (in local currencies) compared to last year but recovered strongly in Q4. The EBIT margin was 13 percent, down 0.5 percentage points from 2019. Profit for the year was EUR 251 million, down 12 percent from 2019, a satisfactory result considering the impact of the pandemic. In 2021, we expect a double-digit EBIT margin of around 11 percent, down slightly compared to 2020 when adjusting for additional depreciation and start-up costs for the new factories. The 2021 investment level will be around EUR 370 million excluding acquisitions, with the West Virginia factory and the relocation of one of the Chinese factories as the main additions within insulation. We will also invest in additional Rockfon and Grodan capacity as well as make additional investments supporting our sustainability and decarbonisation goals. Share Investor call on full-year results 2020 Thursday, 11 February 11:00 AM CET Presented by CEO Jens Birgersson CFO Kim Junge Andersen Director, Group Treasury & Investor Relations, Thomas Harder Listen to investor call “Looking back on a turbulent year, we are proud of how well our colleagues handled the many challenges. Our teams ensured employees were safe while quickly adjusting operations, sales and service to match the changing needs of our customers”. Thomas Kähler & Jens Birgersson Download the Annual Report 2020 PDF 12.3 MB 10 Feb 2021 Annual Report 2020 Resilient by nature Download PDF 8.3 MB 11 Mar 2021 Annual Report 2020 (DA) Resilient by nature Download Investors ROCKWOOL Group Statutory ESEF tagged Annual Report 2020 ZIP-file, submitted to the Danish Financial Supervisory Authority Download PDF 847.2 kB 07 Apr 2021 Remuneration Report Download Sales 0 down 3.7% in local currencies EBIT margin 0 down from 13.5% ROIC 0 down from 21.7% ROCKWOOL Group sales declined by 3.7 percent (in local currencies) while achieving a robust level of profitability and an EBIT margin of 13 percent. “Our sales declined overall but were supported in regions where the construction sector stayed active, as many governments recognised that building sites could operate safely and contribute to the economic recovery at the same time. Importantly, we maintained a robust level of profitability by adjusting our production to demand and keeping costs down”. Thomas Kähler & Jens Birgersson Download Report Outlook 2021 The underlying medium- to long-term structural growth drivers for stone wool products are even stronger today than last year. On top of fundamental trends like urbanisation and increasingly tighter building regulations, we expect several other trends will continue driving growth in our business. For example, the growing focus on energy efficiency, fire safety, and circularity continues to influence the decisions of consumers, the building industry and policymakers, with the pandemic accelerating these trends in multiple ways. Outlook 2021 Sales growth 0 in local currencies EBIT margin 0 around Investments 0 around, excl. acquisitions Financial performance After the significant second quarter sales impact from the COVID-19 lock down, construction activities and our sales in the second half of the year recovered in most markets. For the full year, sales in the Insulation segment declined 5.8 percent in local currencies, primarily driven by Central Europe and the technical insulation business. The building insulation business in North America ended 2020 with good growth despite the global pandemic. The Systems segment’s sales increased 2.7 percent in local currencies, with growth driven primarily by Grodan and a good second half of the year for Rockfon and Rockpanel in Europe. Sales 0 down 3.7% in local currencies EBIT margin 0 down from 13.5% ROIC 0 down from 21.7% Download Report For more information, contact Investor Relations Thomas Harder Director, Group Treasury & Investor Relations, ROCKWOOL Group +45 46 55 86 77 investor@rockwool.com Follow us on social media .cls-1{fill:#d20014;} Organization ROCKWOOL Products & Applications Roof Insulation Floor Insulation Ceiling Insulation Internal Wall Insulation External Wall Insulation HVAC Insulation Passive Fire Protection Acoustic Insulation Industrial Insulation Marine & Offshore Insulation OEM Insulation Rockflow - Urban climate adaptation Resources & Tools Investors Downloads Case Studies Renovation Energy Efficiency E-Learning Job Opportunities Sustainability Blog Advice and Inspiration Blog Renovation Case studies Learning Why stone wool COP26 About Us Investors Newsroom Careers Our thinking Sustainability Corporate governance Business ethics History Annual Report 2020 Racing Contact Supplier information Investor Relations Find us Contact ROCKWOOL Core Solutions Career opportunities Unsolicited applications ROCKWOOL Group ROCKWOOL International A/S Hovedgaden 584 DK-2640 Hedehusene Denmark Tel: (+45) 46 56 03 00 Fax: (+45) 46 56 33 11 Contact us Social .cls-1{fill:#d20014;} Legal Notice Privacy Statement Our Trademarks Cookie Declaration Declaration Of Performance ROCKWOOL Rockfon Rockpanel Grodan Lapinus Copyright © February 2017, ROCKWOOL International A/S Choose a different country or region to see content relevant to your location. 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