Investor relations

Financials

Recticel's key figures for 2020 - 2021 are displayed below. Click on the links to go directly to a specific topic.

 

Balance sheet

Balance sheet (in million EUR)

2021

restated

2022
Non-current assets 520,9 324,0
Current assets 534,9 751,7
TOTAL ASSETS 1.055,7 1.075,7
Total Equity 391,3 446,9
Non-current liabilities 305,9 248,3
Current liabilities 358,5 380,4
TOTAL LIABILITIES  1.055,7

1.075,7

   
Net working capital 74,3 40,7
   
Market capitalisation (December 31st) 980,5 873,5
Non-controlling interests 1,5 1,9
Combined net financial debt  147,8 248,4
ENTERPRISE VALUE 1.129,8 1.123,8

 

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Income statement

Consolidated income statement (in million EUR)

2021

restated

2022

Sales

Gross profit

449,2

84,9

561,5

104,7

Adjusted EBITDA

EBITDA

48,4

50,3

62,2

55,0

Adjusted Operating profit (loss) 

Operating profit (loss) 

35,6

37,5

43,1

34,9

Financial result

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

(1,9)

(6,9)

(9,9)

1,2

Result of the period before taxes 28,8 26,2
Income taxes 5,2 (15,4)
Result of the period after taxes - continuing operations 33,9 10,8
Result of the period after taxes - discontinued operations 20,4 52,8
Result of the period after taxes - continuing and discontinued operations 54,3 63,6

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)

0,8

53,5

0,4

63,2

 

Profitability ratios

2021

restated

2022
Gross profit / Sales 18,9% 18,7%

Adjusted EBITDA / Sales

EBITDA / Sales

10,8%

11,2%

11,1%

9,8%

Adjusted Operating profit (loss) / Sales

Operating profit (loss) / Sales

7,9%

8,3%

7,7%

6,2%

Result of the period after taxes (share of the Group) / Sales 11,9% 11,3%
ROE = Result of the period after taxes (share of the Group) / Total equity (Group share) (1) 13,7% 14,2%

(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

2021

restated

2022
Sales -27,2% 25,0%
EBITDA 31,4% 9,4%
Operating profit (loss) 311,5% -6,9%
Result of the period after taxes (share of the Group) -14,0% 17,0%

 

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Key figures Recticel Group

 

Key figures per share

Key figures per share 2021 2022
Number of shares (31 December) 55.963.420 56.208.420
Weighted average number of shares outstanding (before dilution) 55.519.330 55.799.134
Weighted average number of shares outstanding (after dilution) 56.282.863 56.686.814
     
in EUR

2021

restated

2022

Adjusted EBITDA

EBITDA

0,87

0,91

1,11

0,99

Adjusted operating profit (loss)

Operating profit (loss)

0,64

0,67

0,77

0,63

Earnings per share - continuing operations

Earnings per share - discontinued operations

0,61

0,37

0,19

,095

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

Earnings per share of continuing and discontinued operations - Diluted

0,98

0,97

1,14

1,12

     

Gross dividend

Pay-out ratio

0,29

30%

0,31

27%

     

Net book value (share of the group)

Price / Earnings ratio (3)

6,96

18,3

7,92

13,8

(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)  2021 2022
share price on 31 December 17,52 15,54
lowest share price of the year 10,50 12,36
highest share price of the year 18,30 22,20
average daily volume traded (units) 97.093 84.922

 

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Ratios

 

Financial structure ratios 

2021

restated

2022
Net financial debt / Total equity  38% 56%
Total equity / Total assets 37% 42%
     
Current ratio (4) 1,49 1,98

(4) current assets / current liabilities

 

Valuation ratios

2021

restated

2022
Price / Earnings (Market capitalisation (Dec 31st) / Result of the period (share of the Group))(5) 18,3 13,8
Enterprise value / Operating profit (loss) 22,5 20,4
Price / Book value (=Market capitalisation/Book value (share of the Group)) 2,5 2,0

(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)

2021

restated

2022
Investments in intangible and tangible fixed assets 4,3 12,9
Amortisation, depreciation and impairments
(excluding amortisation on goodwill, including impairment)
10,7 17,2
Investments / Sales 1,0% 2,3%

 

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