Management report for the period
1 January to 31 March 2021
Global sales development
Despite the continued COVID-19 pandemic, construction activity in most countries has
recovered especially during the last month of the quarter. Sales in most business areas
grew to pre-pandemic levels and in some cases even further.
In the first quarter of 2021, ROCKWOOL Group generated net sales of 671 MEUR, an
increase of 6.0 percent in local currencies. Currency translation had a negative impact of
2.7 percent, which resulted in a sales growth of 3.3 percent in reported figures.
During the quarter, sales prices remained stable and growing pressure on gas, electricity
and logistic costs were offset by good operational efficiency in the factories. A relatively
low level of marketing and travel activities together with efficiency gains improved
operational margins.
Regional sales development
In the first quarter, sales in Western Europe increased by 5.4 percent in local currencies,
and 5.6 percent in reported figures. Sales in most markets increased compared to same
period last year. The business in Germany had a slow start of the year, partly caused by
a severe winter, however sales took off in the end of the quarter.
First quarter sales in Eastern Europe increased 8.4 percent in local currencies. Sales
decreased 0.1 percent in reported figures due to a significant currency translation
impact, primarily caused by a depreciation in the Russian rouble. Sales in many
countries performed well, and especially Russia contributed with good sales growth in
local currencies.
In the rest of the world, first quarter sales increased 5.8 percent in local currencies,
however decreased 0.3 percent in reported figures, with the U.S. and Canadian dollars
weakening against the euro. Especially North America experienced good growth while
sales in most of South East Asia decreased.