Press release
Recticel Once Again Outperforming Markets
- Sales up 12.3% in H1 2025 from EUR 298.6 million to EUR 335.2 million
- Strong volume growth both in Insulation Boards and Insulated Panels in flat or contracting markets
- Adjusted EBITDA up 10.4% from EUR 25.1 million to EUR 27.7 million
- Net cash position at EUR 50.4 million
- Major investments progressing as planned
- Write-off of vendor loan to minority owned Ascorium (EUR 11.5 million)
- FY 2025 outlook: the Group expects an Adjusted EBITDA of approximately EUR 55 million, a YoY growth of 10%
Jan Vergote, Chief Executive Officer, commented:
“Recticel is pleased to announce its third consecutive half year organic sales growth since the start of the contraction of the European building industry. We are once again outperforming tough markets, and deflationary input cost trends. Like for like sales have grown double-digit in key geographies such as Benelux, United Kingdom and Central Europe and occurred both in Insulation Boards and Insulated Panels.
Recticel continues to execute its operational excellence value creation plan, resulting in significantly higher plant and labour productivity, and upward revisions of plant capacities. At the same time, we are selling more added value products such as Powerdeck®+, Trimo Modular Space Solutions and our unique Qbiss One architectural façades.
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 in Q1 2026.
We will continue executing our strategic growth plan through both M&A and organic initiatives, backed by substantial headroom on our balance sheet.
Given the ongoing weakness in the global automotive market and the effects of tariffs on European car makers, we have written off our vendor loan (EUR 11.5 million) to Ascorium, our minority owned automotive interiors activity."
