Trading update for 1st quarter 2018
- Combined sales growth of 4.6%, despite an adverse currency impact of -1.3%
- Further increases in chemical raw material prices lead to additional price adjustments
- Combined net financial debt: EUR 141.7 million
Olivier Chapelle (CEO): “We are satisfied with the overall sales growth generated during the first quarter of 2018, despite the harsh weather conditions that prevailed. The markets in which we operate have remained overall supportive, with exception of the United Kingdom.
The polyurethane industry has again been facing raw material price increases during the quarter, and the Recticel teams continue to focus on passing them through to the customers.
Going forward, Recticel remains concentrated on the introduction of product innovations, on the execution of its geographic growth initiatives and on the divestment of its Automotive divisions."
For the full-year 2018, the Group expects continued growth of its combined sales and REBITDA thanks to a combination of volume growth, improved mix and efficiency gains.