DENMARK: ROCKWOOL'S FIRST HALF 2001 RESULTS

Article Abstract:

Rockwool, the leading producer in the world of insulation material, reports an operating profit of DKr124mn (US$14.4mn) in the first half of 2001, up from DKr28 in the same period. Turnover climbed six per cent to DKr3.75bn. These figures, however, entail a switch by Rockwool to new international accounting principles and a new method for writing off inventories etc. This means that according to the earlier accounting principles, Rockwool's operating profit before goodwill dropped from DKr21mn in the first half of 2000 to a DKr27mn loss in the first six months of 2001. It is in Germany in particular that the group is having problems. Rockwool finance manager Knud Jorning says the market dropped more than anticipated. Rockwool will thus trim down its profit forecast for the full year 2001 from DKr129mn to DKr0. However, according to the new accounting principles this forecast would be DKr200mn.

Rockwool Benelux Holding B.V.

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DENMARK: ROCKWOOL'S FIRST QUARTER RESULTS

Article Abstract:

Rockwool International, the insulation material producer, reports a pre-tax loss of DKr27.4mn(US$3.3mn) in the first quarter of 2001 vs. a loss of DKr11.1mn in the same period last year. Net loss amounted to DKr44.6mn vs. a loss of DKr6.9mn in 2000. Turnover climbed from DKr1,751mn to DKr1,843mn. Operating loss stood at DKr21.3mn vs. a profit of DKr3.4mn 2000. According to the company, the drop in profits is ascribed to major investments and acquisitions carried out in the past year. Rockwool expects its turnover for the whole of 2001 to grow 5%.

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Denmark: Rockwool to trim down profit forecast

Article Abstract:

Rockwool International is to trim down its profit forecast for 2001 due to downturn in the building sector in Germany, the Benelux countries, Poland and France. It anticipates a net profit of DKr100mn (US$12mn) vs. a previous profit forecast of DKr200mn. Rockwool reported a DKr71.2mn profit after tax in the first nine months of 2001.

Building Materials, Retail, Building Material and Supplies Dealers, Lumber and other building materials, Abstract, Rockwool International A/S

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