Investor relations

Financials

Recticel's key figures for 2022 - 2023 are displayed below. Click on the links to go directly to a specific topic.

 

Balance sheet

Balance sheet (in million EUR)

2022

restated

2023
Non-current assets 328,4 320,0
Current assets 746,5 339,9
TOTAL ASSETS 1.074,9 660,0
Total Equity 446,2 438,0
Non-current liabilities 250,7 90,7
Current liabilities 378,0 131,3
TOTAL LIABILITIES  1.074,9

660,0

   
Net working capital 44,8 23,7
   
Market capitalisation (December 31st) 873,5 596,0
Non-controlling interests 1,9 1,7
Combined net financial debt  250,0 (161,9)
ENTERPRISE VALUE 1.125,3 435,8

 

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Income statement

Consolidated income statement (in million EUR)

2022

restated

2023

Sales

Gross profit

587,8

113,4

529,4

90,1

Adjusted EBITDA

EBITDA

64,4

59,9

39,2

36,1

Adjusted Operating profit (loss) 

Operating profit (loss) 

43,8

38,3

15,9

12,6

Financial result

Income from and impairments other associates + change in fair value of option structures

(10,0)

1,2

(4,1)

(9,5)

Result of the period before taxes 29,4 (1,0)
Income taxes (16,0) (8,0)
Result of the period after taxes - continuing operations 13,5 (9,0)
Result of the period after taxes - discontinued operations 49,3 12,2
Result of the period after taxes - continuing and discontinued operations 62,8 3,2

of which Result of the period after taxes (share of non-controlling interests)

of which Result of the period after taxes (share of the Group)

0,4

62,4

(0,1)

3,3

 

Profitability ratios

2022

restated

2023
Gross profit / Sales 19,3% 17,0%

Adjusted EBITDA / Sales

EBITDA / Sales

10,9%

10,2%

7,4%

6,8%

Adjusted Operating profit (loss) / Sales

Operating profit (loss) / Sales

7,4%

6,5%

3,0%

2,4%

Result of the period after taxes (share of the Group) / Sales 10,6% 0,6%
ROE = Result of the period after taxes (share of the Group) / Total equity (Group share) (1) 14,0% 0,8%

(1)annual average of equity (share of the Group) Average = [Equity (share of the Group) at the end of the previous period + Equity (share of the Group) at the end of the current period] / 2

 

Annual growth rates

2022

restated

2023
Sales 30,9% -9,9%
EBITDA 19,1% -39,7%
Operating profit (loss) 2,0% -67,1%
Result of the period after taxes (share of the Group) 16,6% -94,7%

 

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Key figures Recticel Group

 

Key figures per share

Key figures per share 2022 2023
Number of shares (31 December) 56.208.420 56.230.920
Weighted average number of shares outstanding (before dilution) 55.799.134 55.897.911
Weighted average number of shares outstanding (after dilution) 56.686.814 56.511.223
     
in EUR

2022

restated

2023

Adjusted EBITDA

EBITDA

1,14

1,07

0,70

0,64

Adjusted operating profit (loss)

Operating profit (loss)

0,78

0,68

0,28

0,22

Earnings per share - continuing operations

Earnings per share - discontinued operations

0,24

0,88

-0,16

0,22

Earnings per share of continuing and discontinued operations - Basic (2)

Earnings per share of continuing and discontinued operations - Diluted

1,13

1,11

0,06

0,06

     

Gross dividend

Pay-out ratio

0,31

28%

0,31

527%

     

Net book value (share of the group)

Price / Earnings ratio (3)

7,43

14,0

7,79

180,1

(2) calculated on the basis of the weigthed average number of shares outstanding (before dilution effect)
(3) based on the share price of 31 December.  Earnings = Result of the period (share of the Group) per share

 

Share prices (in EUR)  2022 2023
share price on 31 December 15,54 10,60
lowest share price of the year 12,36 8,22
highest share price of the year 22,20 18,10
average daily volume traded (units) 84.787 64.770

 

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Ratios

 

Financial structure ratios 

2022

restated

2023
Net financial debt / Total equity  56% n.a.
Total equity / Total assets 42% 66%
     
Current ratio (4) 1,97 2,59

(4) current assets / current liabilities

 

Valuation ratios

2022

restated

2023
Price / Earnings (Market capitalisation (Dec 31st) / Result of the period (share of the Group))(5) 14,0 180,1
Enterprise value / Operating profit (loss) 29,4 34,6
Price / Book value (=Market capitalisation/Book value (share of the Group)) 2,0 1,4

(5) based on the share price of December 31st.  Earnings = result of the period (share of the Group) per share

 

Investments versus Amortisation/Depreciation (in million EUR)

2022

restated

2023
Investments in intangible and tangible fixed assets 13,0 21,3
Amortisation, depreciation and impairments
(excluding amortisation on goodwill, including impairment)
18,7 20,4
Investments / Sales 2,2% 4,0%

 

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