EnergyWatch

Rockwool CEO: "Russia has not come around enough for me to be celebrating"

The Danish insulation major made gains on virtually every market, but the CEO is not exactly optimistic when it comes to Russia and Asia, despite Russia going from a 15-percent decline to positive growth.

Photo: ROCKWOOL

Rockwool succeeded in beating analyst expectations in the first quarter. However, while the company should be celebrating, the CEO is still hesitant to shout the success story from the rooftops.

Virtually all of the stone wool producer's markets grew in the first quarter 2017. Sales in Western Europe rose 5.5 percent while the eastern part of the continent grew 10 percent. Russia played a crucial part in this, but CEO Jens Birgersson is not ready to declare the country a safe haven.

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