Investor relations
Financials
Recticel's key figures for 2024 - 2025 are displayed below. Click on the links to go directly to a specific topic.
Balance sheet
| Balance sheet (in million EUR) | 2024 | 2025 |
| Non-current assets | 394.9 | 418.0 |
| Current assets | 306.8 | 267.5 |
| TOTAL ASSETS | 701.7 | 685.6 |
| Total Equity | 445.1 | 430.4 |
| Non-current liabilities | 112.0 | 109.3 |
| Current liabilities | 144.5 | 145.9 |
| TOTAL EQUITY AND LIABILITIES | 701.7 | 685.6 |
| Net working capital | 43.0 | 50.2 |
| Market capitalisation (31 December) | 593.2 | 556.2 |
| Non-controlling interests | 1.5 | 3.4 |
| Combined net financial debt | (74.4) | (27.4) |
| ENTERPRISE VALUE | 520.4 | 532.1 |
Income statement
| Consolidated income statement (in million EUR) | 2024 | 2025 |
Sales Gross profit | 610.2 104.5 | 655.1 114.0 |
Adjusted EBITDA EBITDA | 49.6 42.6 | 55.8 51.3 |
Adjusted Operating profit (loss) Operating profit (loss) | 18.9 11.5 | 24.6 19.9 |
Financial result Income from and impairments other associates + change in fair value of option structures | 3.4 0.0 | (3.5) (11.5) |
| Result of the period before taxes | 14.9 | 4.9 |
| Income taxes | 1.5 | 0.6 |
| Result of the period after taxes - continuing operations | 16.3 | 5.6 |
| Result of the period after taxes - discontinued operations | 1.6 | 5.0 |
| Result of the period after taxes - continuing and discontinued operations | 18.0 | 10.6 |
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) | (0.2) 18.1 | 0.4 10.2 |
| Profitability ratios | 2024 | 2025 |
| Gross profit / Sales | 17.1% | 17.4% |
Adjusted EBITDA / Sales EBITDA / Sales | 8.1% 7.0% | 8.5% 7.8% |
Adjusted Operating profit (loss) / Sales Operating profit (loss) / Sales | 3.1% 1.9% | 3.7% 3.0% |
| Result of the period after taxes (share of the Group) / Sales | 3.0% | 1.6% |
| ROE = Result of the period after taxes (share of the Group) / Total equity (Group share) (1) | 4.1% | 2.4% |
(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 | 2024 | 2025 |
| Sales | 15.3% | 7.4% |
| EBITDA | 17.8% | 20.6% |
| Operating profit (loss) | -8.7% | 73.3% |
| Result of the period after taxes (share of the Group) | 447.8% | -43.8% |
Key figures Recticel Group
Key figures per share
| Key figures per share | 2024 | 2025 |
| Number of shares (31 December) | 56,605,920 | 56,752,920 |
| Weighted average number of shares outstanding (before dilution) | 56,067,538 | 56,339,332 |
| Weighted average number of shares outstanding (after dilution) | 56,475,310 | 56,541,062 |
| in EUR | 2024 | 2025 |
Adjusted EBITDA EBITDA | 0.88 0.75 | 0.98 0.90 |
Adjusted operating profit (loss) Operating profit (loss) | 0.33 0.20 | 0.43 0.35 |
Earnings per share - continuing operations Earnings per share - discontinued operations | 0.29 0.03 | 0.10 0.09 |
Earnings per share of continuing and discontinued operations - Basic (2) Earnings per share of continuing and discontinued operations - Diluted | 0.32 0.32 | 0.19 0.19 |
Gross dividend Pay-out ratio | 0.31 97% | 0.31 173% |
Net book value (share of the group) Price / Earnings ratio (3) | 7.86 32.7 | 7.58 54.5 |
(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) | 2024 | 2025 |
| share price on 31 December | 10.48 | 9.80 |
| lowest share price of the year | 10.10 | 8.38 |
| highest share price of the year | 14.34 | 11.52 |
| average daily volume traded (units) | 44,792 | 50,168 |
Ratios
| Financial structure ratios | 2024 | 2025 |
| Net financial debt / Total equity | N/A | N/A |
| Total equity / Total assets | 63% | 63% |
| Current ratio (4) | 2.12 | 1.83 |
(4) current assets / current liabilities
| Valuation ratios | 2024 | 2025 |
| Price / Earnings (Market capitalisation (Dec 31st) / Result of the period (share of the Group))(5) | 32.7 | 54.5 |
| Enterprise value / Operating profit (loss) | 45.3 | 26.7 |
| Price / Book value (=Market capitalisation/Book value (share of the Group)) | 1.3 | 1.3 |
(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) | 2023 | 2024 |
| Investments in intangible and tangible fixed assets | 28.5 | 34.3 |
| Amortisation, depreciation and impairments (excluding amortisation on goodwill, including impairment) | 30.3 | 27.6 |
| Investments / Sales | 4.7% | 5.2% |
