Investor relations

Consensus estimates

The current market consensus as per 14 October 2019 is based on the research of five brokers, namely Berenberg, Degroof Petercam, ING, Kepler Cheuvreux and KBC Securities.

 

Combined figures

2018a = as published before impact IFRS 16
2019e - 2021e = including impact IFRS 16

(in million EUR) 2018a 2019e 2020e 2021e
Combined Net Sales 1.448,3 1.245,2 1.276,9 1.306,9
as % of sales -0,9% -14,0% 2,5% 2,3%
Combined Adjusted EBITDA 103,8 121,7 127,8 134,3
as % of sales 7,2% 9,8% 10,0% 10,3%
Combined EBITDA 93,4 121,2 127,4 134,3
as % of sales 6,4% 9,7% 10,0% 10,3%
Combined Adjusted EBIT 63,3 59,9 65,6 71,5
as % of sales 4,4% 4,8% 5,1% 5,5%
Combined EBIT 47,0 59,0 65,2 71,5
as % of sales 3,2% 4,7% 5,1% 5,5%
         
Combined Net Financial Debt 100,2 183,4 144,2 96,7
Combined off balance Factoring/Forfeiting 51,3 57,2 55,5 55,5

 

Consolidated figures

(in million EUR) 2018a 2019e 2020e 2021e
Consolidated Sales 1.117,7 1.062,0 1.093,0 1.120,1
annual growth rate -1,6% -5,0% 2,9% 2,5%
Consolidated EBITDA 80,5 111,0 117,0 123,9
as % of consolidated sales 7,2% 10,5% 10,7% 11,1%
Consolidated EBIT 42,9 54,0 60,0 66,2
as % of consolidated sales 3,8% 5,1% 5,5% 5,9%
Earnings after taxes 28,8 34,0 38,5 43,1
as % of consolidated sales 2,6% 3,2% 3,5% 3,8%
         
Consolidated Net Financial Debt 84,6 153,3 105,3 65,4
Consolidated off balance Factoring/Forfeiting 51,3 83,4 76,9 70,0
Total Equity 265,0 290,0 308,8 336,1

 


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Disclaimer

This consensus has been collated from estimates submitted by analysts to Recticel using a standard template. The figures above are provided by Recticel for information purposes only. The research material from which the figures are drawn is the sole responsibility of the analysts concerned. Recticel does not endorse the research in any way and accepts no liability in respect of it. In particular, Recticel makes no warranty or representation as to the accuracy of the research, the reasonableness of any assumptions or projections or the likelihood of achieving the figures set out above. Recticel has not commented on or verified any individual estimates, nor does it intend to do so in the future. Recticel shall not be liable for any errors in the content of the research material, or for any action taken in reliance thereon, or on the figures above. The inclusion of any information above does not imply any endorsement of, or concurrence with, the same on the part of Recticel. It should be noted that estimates are, by definition, forward looking and are therefore subject to risks and uncertainties which are subject to change at any time and which may materially affect eventual results. Recticel assumes no obligation to update or revise the figures presented above. The information set out above does not constitute an invitation or solicitation of an offer to subscribe for or purchase any securities and shall not form the basis for any contract or commitment whatsoever. Nothing contained herein should be taken as a recommendation to buy or sell shares in Recticel or to take or refrain from taking any other action or to place any reliance on any of the information set out above.