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Recticel Reports H1 Profit Growth in Its First Year as a Building Sustainability Specialist

Graphique de l'évolution du cours de l'action RECTICEL (EBR:RECT).

Brussels, 30 August 2024 – As Recticel marks its first year as a building sustainability specialist, the company reported notable growth in its H1 2024 results. Net sales surged by 12.2%, reaching EUR 298.6 million, driven by a 2.6% organic increase. Growth accelerated from 10.1% in Q1 to 14.2% in Q2.

Both Insulation Boards and Insulated Panels registered double-digit organic volume growth. Adjusted EBITDA increased by 37.9% to EUR 25.1 million, raising the margin on sales from 6.8% to 8.4%. Despite a slow start in European markets due to unfavorable weather, Recticel saw resilience in the commercial sector and a return to growth in the UK.

CEO Jan Vergote highlighted the company's market-driven strategy, cost base reduction, and volume increases in Insulation Boards, alongside a successful rollout of Trimo's premium Insulated Panels. Soundcoat Acoustic Insulation materials gained traction in the US aerospace market.

The net-zero targets for the company were approved by SBTi in Q1 2024. The company expects continued volume growth in H2 2024, aiming for an adjusted EBITDA around EUR 50 million.

R. P.

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