ROCKWOOL adjusts outlook for full-year earnings for 2025

Core Viewpoint - ROCKWOOL A/S has adjusted its full-year earnings outlook for 2025 due to an unplanned factory closure in Switzerland and ongoing challenging market conditions, particularly in the UK, Canada, and Russia [1][3]. Financial Performance - Revenue for the first nine months of 2025 reached 2,910 MEUR, reflecting a one percent increase compared to the previous year, with 2024 acquisitions contributing a two-percentage point positive impact [6]. - Q3 2025 revenue was 963 MEUR, showing a two percent increase in local currencies and a one percent increase in reported figures compared to last year, also benefiting from the 2024 acquisitions [6]. - EBIT for the first nine months of 2025 decreased by 11 percent to 457 MEUR, with an EBIT margin of 15.7 percent, down 2.1 percentage points from the previous year [6]. - In Q3 2025, EBIT decreased by 14 percent to 150 MEUR, with an EBIT margin of 15.5 percent, down 2.6 percentage points compared to Q3 2024 [6]. Outlook Adjustments - The EBIT margin for full-year 2025 is now expected to be between 14 and 15 percent, revised from a previous outlook of below 16 percent [1][5]. - The company maintains its revenue expectations to be at the same level as last year, with an investment level around 450 MEUR excluding acquisitions [5]. - The factory in Flums, Switzerland, is currently non-operational due to a production-related incident, impacting Q4 2025 earnings negatively, with ongoing negotiations with insurance companies expected to conclude in early 2026 [3][4]. Market Conditions - The UK insulation business faced unexpected challenges in Q3 2025, with large flat roof projects being cancelled or postponed, although sales have returned to normal levels in early Q4 2025 [4]. - The construction market in Canada is heavily affected by rising inflation and trade tensions, leading to a significant impact on market demand, with no near-term improvement anticipated [4]. - The downturn in Russia continues to negatively affect Group earnings due to sales price decreases and higher-than-expected inflation [4].