European Insulation Business

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1 European Insulation Business Division Managing Director, Henrik Frank Nielsen 1

2 Agenda European insulation market Position in Europe Segmentation 2

3 Europe the most mature insulation market in the world The highest insulation consumption per capita in the world The most stringent building codes in terms of energy efficiency and fire safety The most global players are all European Isover / Saint-Gobain Knauf Kingspan Asia and other 48% Regions Western Europe 26% North America 21% Global insulation market 2013 Eastern Europe incl. Russia 5% 3

4 The European insulation market The estimated European insulation market value was EUR 7,500 million in 2013 The market is split between mineral wool and other insulation materials Plastic foam ~45% Kingspan Recticel Many other Insulation material market value Other ~5% Stone wool ~30% ROCKWOOL Paroc Knauf Isover Glass wool ~20% Isover Knauf Uralita 2/3 of the annual insulation volumes are used in the residential building segment The European competition is intensive, as most of the world s major MIWO and plastic foam competitors are present here Nonresidential Building insulation market volume Residential European insulation market

5 A solid growth platform despite the current macro-economic challenges Limited (if any) total market growth expected next year Longer term the European insulation market is expected to continue outperforming the general construction market Energy efficiency agenda Financial case Sustainability agenda Resilience trough fire safety Growth expected in both new-build and refurbishment insulation Germany and France continue to be most critical for the total market development especially on the shorter term UK and Poland is gradually becoming relatively more important and have the largest longer term potential together with Spain and Italy 5

6 EU still lead the Energy efficiency and sustainability agenda 2030 targets will secure but not accelerate energy efficiency premium Growth of +2% points compared to general construction activity Building codes of low-energy level for newbuild to be in place by roll-out ongoing Renovation plans of varying quality coming into place: Germany has worked well but under revision France: promising proposal national implementation UK room for improvement EU structural funds in Poland and other Eastern European countries 6

7 The ROCKWOOL Group s insulation business in Europe Building insulation and technical insulation 16 stone wool factories and 2 ETICS plants (paints, render, etc.) ~6.000 employees Sales office, administration Factory 2013 sales of approx. 1,200 mill with a CAGR 5,9% of since 2003 Building insulation split in 6 regional entities based on market characteristics Technical insulation, sandwich panels & OEM organised on pan-european level 7

8 The ROCKWOOL Group s positioning FLEXIBLE INSULATION RIGID INSULATION Main applications: Residential, refurbishment and new build 25 kg/m 3 Glass wool Key market: Flexible products Stone wool Key market: Flexible and Rigid products Main applications: Non-residential (flat roof, facade, foundation, sandwich panels) technical insulation, OEM Foam plastics Key market: Rigid products kg/m 3

9 Strategic segmentation in Europe Geography Large insulation markets Significant long-term potential Application / Where to use Insulation materials / products - Interior - Industrial walls - Flat roof Insulation systems Facades - ETICS - Ventilated Facade Systems HVAC and Fire protection 9

10 Initiatives improving our position in the insulation material area Continuous improvement of our core production technology Improved interior products Unique new flat roof offering Explaining the 4 in 1 benefits of stone wool to home owners, installers and general public Sustainable material Fire safety Acoustic comfort Durability 10

11 Re-engineering the European production platform Production upgrade with new technology and specialisation in Czech Republic Factory expansion and upgrade with new technology in Denmark Factory expansion and upgrade with new technology in Poland 11

12 Growing our European facade business with new insulation systems The market of ETICS systems is EUR 3.5 billion pa - insulation material is 25% - 85% is EPS The market of Ventilated façade systems is EUR 2.5 billion pa - insulation material is <10% - 90% is MIWO The growth rates of the ETICS and Ventilated façade segments are expected to be higher than other application segments Applied in most building types - new-build as well as refurb ETICS market is converting from EPS to stone wool Also very attractive segments outside Europe - ETICS in Russia and China - Ventilated facades in North America REDArt FAST HECK REDAir 12

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14 REDArt Corner bead with fiberglass mesh Mechanichal fixing with steel central pin Mineral Wool Adhesive Adhesive Motar base coat 6 Render: Silicate, Silicone or Mineral paint 14

15 HECK and FAST ETICS facade system holder in Poland Own mineral and organic render production ~100 employees R&D centre ETICS facade system holder in Germany Own mineral and organic render production ~200 employees R&D centre Professional training centre 15

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17 Ventilated facade system Anchor 3 Sub-construction Air gap Insulation 2 1 Cladding

18 REDAir FLEX Insulation 1 Friction plate 2 LVL board 3 5 Screws 4 Cladding 18

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20 Developing our HVAC & Fire protection core and offering Improved production technology Geographic penetration Product portfolio improvement New routes to market 20

21 Questions? 21