Robust 2025 performance in a volatile and challenged market

Core Insights - ROCKWOOL delivered a robust performance in 2025 despite a challenging economic environment, with revenue reaching 3,877 MEUR, a 1.1% increase in local currencies [3] - The company faced significant losses due to the value adjustment related to its Russian business, amounting to 392 MEUR [3] - The EBITDA for 2025 was 864 MEUR, with a margin of 22.3%, reflecting a decline from the previous year [3] Financial Performance - Revenue in Q4 2025 was 967 MEUR, up 0.8% in local currencies [3] - EBITDA in Q4 2025 was 199 MEUR, with a margin of 20.5%, down 3.2 percentage points from Q4 2024 [3] - Profit for the year was 28 MEUR, a decrease of 522 MEUR primarily due to the loss from the Russian business [3] Investments and Future Outlook - Total investments in 2025 amounted to 473 MEUR, focusing on new factories in the US and India, a new production line in Romania, and digitalization initiatives [3] - The company expects revenue growth of 2-4% in 2026 in local currencies and an EBIT margin between 13-14% [3][4] - Investment levels are projected to be around 650 MEUR in 2026, excluding acquisitions [3] Market Position and Strategy - ROCKWOOL gained market share in Central Europe and North America, indicating a strong competitive position [4] - The company is committed to long-term investments in capacity expansion and decarbonization, achieving a 25% reduction in CO2 intensity compared to the 2015 baseline [3][4]