Annual Report of 2016 for ROCKWOOL International A/S
Release n. 1 – 2017 to Nasdaq Copenhagen
24 February 2017
The ROCKWOOL Group concludes successful transformation and announces expansion plans
Highlights
Sales in 2016 reached EUR 2,202 million, an increase in Automotive Vocational Training Centre, local currencies by 1.9%. Q4 sales grew 0.8%, measured in Mantorell, Spain local currencies.
The Business Transformation Programme is now successfully completed ahead of schedule and will continue as integrated part of our business. The related redundancy costs included in 2016 amount to EUR 8.0 million.
EBIT* increased by 38% to EUR 237 million equal to an EBIT margin of 10.8%.
EBIT* in Q4 was EUR 62 million and the EBIT margin reached 10.6%.
Investments before disposal of assets and investment grants totalled EUR 101 million.
Free cash flow improved by EUR 140 million to EUR 237 million for 2016. Q4 generated a strong free cash flow of EUR 97 million and resulted in a net cash position end of the year of EUR 119 million.
Profit for the year reached EUR 166 million, an improvement of EUR 76 million. Net profit in Q4 was EUR 44 million.
In line with the new dividend policy the proposed dividend per share is DKK 18.80, up from DKK 11.50 last year.
*) Ex. redundancy costs from the Business Transformation Programme from 2016 and 2015 and write-downs in Asia in 2015.
“We ended the year 2016 with 10.8% EBIT, strong cash flow and a Full year Outlook 2017 flawlessly executed transformation. The way the organisation embraced Growth in net sales expected to reach between 2-4% in local currencies. the challenges and even accelerated the change, 12 months ahead of plan, EBIT margin slightly above 10% has been impressive and is something I am very proud of. Investment level of around EUR 130 million. Even more so as we complemented the positive financial performance with Investment plans include the purchase of land in Sweden, Romania and the United States to enhance geographic a strong improvement in our ESG coverage, increase capacity and improve the efficiency and (Environmental, Social and quality of the production process. Governance) rankings, bringing our success beyond the bottom line.”
CEO Jens Birgersson
Conference call The ROCKWOOL Group will host an earnings call on 24 February 2017 at 11:00 CET. To attend the conference call dial +4570223500, +44(0)2075721187 or +1 6467224972. Passcode 86878793#. The conference call will be transmitted live on www.rockwool.com. Enriching modern living Annual Report 2016 Overview Enriching modern living Overview
Our purpose We release the natural power of stone to enrich modern living.
We are committed to enriching the lives of everyone who comes into contact with our products. From energy consumption to noise pollution, water Enriching modern living scarcity to flooding, our purpose is to create value for our customers and help them address many of the challenges related to modern living. Sustainability Performance Corporate governance
Annual Report 2016 ROCKWOOL Group 2 3 6 Overview Enriching modern living ROCKWOOL 2016
Project Overview BRUNNER Eggenfelden in Germany At ROCKWOOL we harness the properties that Materials ROCKPANEL boards nature has given us to create products for quality ROCKWOOL insulation living. We offer carefully designed, innovative 12 Architect and sustainable solutions for your comfort, Frank Architekten GmbH, Eggenfelden safety and for the benefit of the environment. Enriching modern living
Under our group of brands including ROCKWOOL, ROCKFON, ROCKPANEL, ROCKWOOL Technical
Insulation, GRODAN and LAPINUS the Group has Enriching modern living 32 total net sales of EUR 2,202 million, from sales in more than 100 countries. Sustainability
42 Sustainability Performance
56 Performance Corporate governance 70 Financial statements Corporate governance 122 Annual Report 2016 ROCKWOOL Group 4 5 Other information Overview Enriching modern living