Trading update for 1st Quarter 2017
- Combined sales growth of +5.7%, despite an adverse currency impact of -1.2%
- Strong volumes in Automotive and Insulation reflecting a supportive macro-economic environment
- Challenging raw material price increases leading to necessary price adjustments towards our customers
- Combined net financial debt: EUR 135.9 million
Olivier Chapelle (CEO): “We are satisfied with the sales growth that we have generated during the first quarter of 2017, in markets which have overall remained supportive. Volume growth and price increases have more than offset the negative currency impacts.
The main business challenge that Recticel is currently facing relates to the unprecedented pace of raw material price increases. Our commercial teams are focused on minimizing the impact of these price increases for Recticel.
After the fire incident affecting the Automotive factory of Most, Czech Republic, the supply situation continues to evolve positively and is now close to normalization.”
Financial calendar
| First quarter 2017 trading update | 26.04.2017 (before opening of the stock exchange) |
| Annual General Meeting | 30.05.2017 (at 10.00 u CET) |
| Ex-coupon date | 31.05.2017 |
| Record date | 01.06.2017 |
| Dividend payment date | 02.06.2017 |
| First half-year 2017 results | 31.08.2017 (before opening of the stock exchange) |
| Third quarter 2017 trading update | 31.10.2017 (before opening of the stock exchange) |
| Annual Results 2017 | 23.02.2018 (before opening of the stock exchange) |
| First quarter 2018 trading update | 26.04.2018 (before opening of the stock exchange) |
| Annual General Meeting | 30.05.2018 (at 10.00 u CET) |
| First half-year 2018 results | 31.08.2018 (before opening of the stock exchange) |
| Third quarter 2018 trading update | 31.10.2018 (before opening of the stock exchange) |
For additional information
RECTICEL - Olympiadenlaan 2, B-1140 Brussels (Evere)
Press:
Mr Olivier Chapelle
Tel: +32 2 775 18 01
chapelle.olivier@recticel.com
Investor relations:
Mr Michel De Smedt
Mobile: +32 479 91 11 38
desmedt.michel@recticel.com
Recticel in a nutshell
Recticel is a Belgian Group with a strong European dimension, but it also operates in the rest of the world. Recticel employs 7,925 people in 98 establishments in 28 countries.
Recticel contributes to daily comfort with foam filling for seats, mattresses and slat bases of top brands, insulation material, interior comfort for cars and an extensive range of other industrial and domestic applications.
Recticel is the Group behind well-known bedding brands (Beka®, Lattoflex®, Literie Bultex®, Schlaraffia®, Sembella®, Swissflex®, Superba®, Ubica®, etc.) and GELTEX® inside. Within the Insulation sub-segment high-quality thermal insulation products are marketed under the well-known brands Eurowall®, Powerroof®, Powerdeck®, Powerwall® and Xentro®. Technological progress and innovation have led to breakthrough at the biggest names in the Automotive industry thanks to Colo-Fast®, Colo-Sense® and Colo-Sense Lite®.
In 2016 Recticel achieved combined sales of EUR 1.35 billion (IFRS 11 consolidated sales: EUR 1.05 billion).
Recticel (Euronext: REC – Reuters: RECTt.BR – Bloomberg: REC:BB) is listed on Euronext in Brussels.
