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 |
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% |
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 |
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% |
