Denmark's Rockwool to write off value of Russian assets placed under temporary management

MOSCOW. Jan 14 (Interfax) - Danish insulation materials producer Rockwool A/S is deconsolidating the four Russian factories over which it has lost control and will write off their net worth (equity), it said in a statement.

At December 31, their overall net worth stood at 469 million euros. For 2025 overall, the company's Russian assets had revenue of 261 million euros and EBIT of 78 million euros.

Rockwool will provide information on how the loss of control over the factories has affected its accounts at a later stage.

It was reported yesterday that Rockwool's Russian subsidiary, Rockwool LLC, had been placed under the temporary management of JSC Construction Assets Development. A corresponding decree was signed by Russian President Vladimir Putin on December 31 and published on the official legal information portal on Tuesday.

The same company has taken over the management of Rockwool's 68% share in Rockwool Volga LLC of Elabuga, while the 32% remains with Rockwool LLC.

Rockwool LLC writes on its website that it manages a factory in Balashikha in the outskirts of Moscow, launched in 1999. According to the Unified State Register of Legal Entities (USRLE), Rockwool LLC also owns 100% of the Rockwool North LLC factory in Vyborg and Rockwool Ural LLC in Troitsk.

Rockwool said that it would defend its rights, but that in the current circumstances it was not optimistic about the prospects for overturning the decision to place its Russian assets under temporary management.

The Danish company entered the Russian market in 1995. It had a turnover of 3.9 billion euros in 2024.