Press release
Recticel Group Growth Across The Board
ANNUAL RESULTS 2025
- Revenue up 7.4% from EUR 610.2 million to a record-high EUR 655.1 million
- Strong organic volume growth in Insulated Panels and Insulation Boards
- Organic revenue growth of 6.3%, impacted by pass through of exceptionally low input costs in H2
- Adjusted EBITDA up 12.5% from EUR 49.6 million to EUR 55.8 million and adjusted EBITDA margin on sales up from 8.1% to 8.5%
- Net cash position at EUR 27.4 million
- Major investments progressing as planned, successful integration of Miclar and Kuras acquisitions
- Acquisition of 100% of the shares of Ascorium to enable the next strategic step of divesting the participation
- Proposal to pay a gross dividend of EUR 0.31 per share
Jan Vergote, Chief Executive Officer, commented:
“Recticel is pleased to announce another year of growth across the board in Insulation Panels and Insulation Boards. We are encouraged to have achieved this in flat building markets and look forward to future tailwinds as the cycle recovers.
In H2, substantially lower raw material prices have been passed through to the market, masking underlying volume growth. As we speak, A-chemical prices are surging and will partly reverse this effect though we are still below H1 2025 feedstock costs.
In order to continue and accelerate our growth, we have launched our Elevate 2030 value creation plan based on 6 non-cyclical smart pillars: operational excellence, administrative efficiency, advanced products, downstream offering, geographies, carbon footprint reduction. All our management efforts, major projects and acquisitions are part of this plan and more value creating steps will follow along these lines. We are pleased to see that our advanced products & downstream offering, now more than 20% of revenue, along with our premium mineral wool panels, also at 20% of the group revenue, outgrow our commodities.
Our strategic investment in a greenfield facility for both mineral wool and PIR insulated panels in Tennessee (US) is progressing as planned, and we expect to start production in Q4 2026. Our industry leading recycling plant in Wevelgem (BE) is planned to be operational by April 2026.The integration of our downstream acquisitions Miclar and Kuras is successful and our M&A pipeline is promising.
We have signed an agreement with Temda 1 to acquire the remaining 51% of the Ascorium shares for EUR 1 million, as we want full control over the strategic steps to be taken.”
