Our reports 2022

We had an excellent start to the year with strong sales and high demand for our stone wool insulation, which led to record volume growth in the first half of the year. In the second half of the year, the unfolding war in Ukraine, soaring energy prices, inflation and steady increases in interest rates changed the picture considerably, contributing to a decline in construction activity in key markets.  

Considering this context, the business performed well. Net sales for the year reached 3907 MEUR, a 27 percent increase in reported figures over 2021, while EBIT margin was 10.3 percent, 2.7 percentage points lower than 2021. Net profit was 273 MEUR, a 10 percent decrease over 2021.  

For 2023, we forecast a sales decline of up to 10 percent in local currencies, with an EBIT margin in the range of 8 to 10 percent. We will continue to invest in more capacity to support our long-term growth, and forecast 2023 full-year investments to be around 400 MEUR.

ROCKWOOL Group sales increased by 23 percent (in local currencies).  Profitability remained double-digit despite soaring inflation during the year, especially in the third quarter, achieving a 10.3 percent full-year EBIT margin.