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    Zaim Beekawa • JPMorgan Chase & Co.

    Zaim Beekawa's questions to Rockwool A/S (RCWBY) leadership

    Zaim Beekawa's questions to Rockwool A/S (RCWBY) leadership • Q1 2025

    Question

    Zaim Beekawa of JPMorgan Chase & Co. questioned the magnitude and drivers of pricing pressure in France and asked whether the strong performance in North America was due to pull-forward demand ahead of price increases, as well as the outlook for Q2 trends in that market.

    Answer

    CEO Jes Hansen clarified that the strong U.S. performance is driven by market share gains, not pull-forward demand, and that the company has a healthy pipeline despite some project delays. Regarding France, he explained the price pressure is nuanced, primarily in the professional flat roof and sandwich panel segments, and amounts to about a percentage point on average, requiring tactical, project-by-project adjustments.

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    Zaim Beekawa's questions to Rockwool A/S (RCWBY) leadership • Q1 2025

    Question

    Asked about the extent of pricing pressure in France and whether the strong North American performance was due to demand pull-forward ahead of price hikes.

    Answer

    The U.S. growth is driven by market share gains, not pull-forward demand. In France, price pressure is tactical, project-specific in professional segments, and averages about a 1% price impact.

    Ask Fintool Equity Research AI