Annual results 2017
Recticel delivers further sales and profit growth
- Combined sales grew by +8.4% to EUR 1,460.8 million
- Combined REBITDA increased by +8.0% to EUR 105.5 million
- Result of the period (share of the Group): from EUR 16.3 million to EUR 23.9 million (+46.4%)
- Combined net financial debt: EUR 122.9 million (31 Dec 2016: EUR 126.0 million)
- Proposal to pay a gross dividend of EUR 0.22 per share
The combined sales growth accelerated in 2017 to +8.4 %, leading to an 8.0% increase in combined REBITDA, achieved despite severe headwinds: the unprecedented increases in raw material prices and subsequent shortage in isocyanates, the negative currency impacts, and the unforeseeable situations created by the fire incident in our Automotive Interiors plant in Most in the Czech Republic in 1Q2017 and by the BASF TDI quality issue in 4Q2017.
The Result of the Period reached a historical high at EUR 23.9 million, while the combined net financial debt reached a low of EUR 122.9 million.
Olivier Chapelle (CEO): “We are satisfied with our sales and profit growth in 2017, achieved under a combination of very challenging market conditions and exceptional events. This growth in sales and results reflects the Group’s resilience and further strengthens our confidence in our capacity to achieve our long term targets and to deliver consistent value creation.
Going forward we remain focused on growth, raising overall performance by the continued strengthening of our product portfolio, improving productivity and optimizing the operating model of the Group, as well as expanding our Insulation business line.”