Rockwool

Rockwool’s revenue in Russia has declined in the first quarter of 2023. Sales in Eastern Europe, which includes Russia, declined by 22 percent compared to the first quarter of 2022, according to Rockwool’s quarterly financial statements, that were published on Wednesday. According to the company, the decline was mainly driven by a decline in Russia and Poland. In total, the company had a turnover of around DKK 6.4 billion – about six percent less than the year before. “As expected, the negative trend we experienced at the end of last year has continued into the first quarter, with low construction activity – broadly in the residential sector and more selectively in the commercial area,” says Rockwool manager Jens Birgersson in a comment on the financial statements. /ritzau/