Recticel clarifies certain key elements with regard to its recent announcement on the sale of its Engineered Foams division:
Strategy update
- Group to focus exclusively on its Insulation business segment, presenting excellent growth and profitability prospects going forward
- Consequent sale of Recticel’s Engineered Foams business segment, demonstrating far superior value creation versus the unsolicited offer by Greiner
Transaction highlights
The Board of Directors has received notice from the FSMA that it has approved the prospectus of Greiner AG in relation to its unsolicited voluntary public takeover bid on the outstanding shares of Recticel for EUR 13.50 per share in cash.
In accordance with the Act of 2 May 2007 on the publication of important participations in listed companies, Recticel (Euronext: REC) publishes the following notification:
Summary of notification: Recticel (Euronext: REC) has received a transparency notification dated 24 September 2021, which shows that BNP PARIBAS ASSET MANAGEMENT SA, as a result of the disposal of shares on 23 September 2021, now owns 2.81% of the voting rights of the company. It has thus crosses downwards the 3% shareholding threshold.
Congratulations to our former CFO, Jean-Pierre Mellen on his nomination for the 2021 Trends-Tendances CFO of the Year award. This award goes to a CFO who has delivered exceptional performance over the past year and will be presented at a gala evening event on 20 October 2021.
Disclosure of a transparency notification (Article 14, first paragraph, of the Act of 2 May 2007 on the disclosure of major holdings)
In accordance with the Act of 2 May 2007 on the publication of important participations in listed companies, Recticel (Euronext: REC) publishes the following notification:
1. Summary of notification
- Net sales increase from EUR 374.3 million to EUR 596.2 million (+59.3%), of which 39.7% organic growth, 0.4% currency effect and a EUR 71.9 million contribution from 2Q2021 FoamPartner sales
- Adjusted EBITDA: from EUR 19.0 million to EUR 56.9 million
- Result of the period (share of the Group): from EUR 60.1 million (including EUR 68.8 million result from discontinued operations) to EUR 28.0 million
- Net financial debt: EUR 206.6 million
Recticel announces that on 03 August 2021 its share capital has been increased following the exercise of 5,000 warrants of the warrant plan issued on 30 June 2017. This resulted in the issuance of 5,000 new ordinary shares, which will be admitted for trading on Euronext Brussels as of 05 August 2021.
- 1H2021 net sales: from EUR 374.3 million to EUR 596.2 million (+59.3%)
- Net sales include FoamPartner as from 1 April 2021 (EUR 71.9 million over 2Q2021)
Based on unaudited information, 1H2021 net sales will amount to EUR 596.2 million compared to EUR 374.3 million in 1H2020 (+59.3%) and EUR 453.8 million in 1H2019 (+31.4%).