Rockwool raises forecasts after strong quarter

Rockwool has increased its earnings expectations following a strong second quarter, driven by favorable developments across all markets, according to MarketWire. The progress is due to higher volume, with generally stable but slightly declining prices on some markets to defend market shares. Operational costs remained lower than expected mainly due to stable energy prices. Significant growth was seen in North America and Central and Eastern Europe, including Russia. Earnings margin forecasts for the year were revised from 15% to 17%, with a second-quarter earnings margin of 18.7%. Revenue increased by 10% and earnings by 42% compared to the same quarter last year. However, potential price drops in the second half of the year and persistent inflation may affect the earnings margin, despite the second upward adjustment this year. The full second-quarter results will be released on August 22.