Press release
Recticel reports H1 profit growth as it completes its first year as a building sustainability specialist
- Net sales increased from EUR 266.1 million in H1 2023 to EUR 298.6 million in H1 2024 (+12.2% of which 2.6% organic), with growth accelerating from +10.1% in Q1 to +14.2% in Q2
- Underlying double digit organic volume growth both in Insulation Boards and Insulated Panels in flat or contracting Western European markets
- Adjusted EBITDA: from EUR 18.2 million to EUR 25.1 million (+37.9%) and from 6.8% to 8.4% margin on sales, with progress in all activities
- Net cash position: EUR 58.1 million (31 December 2023: EUR 161.9 million) reflecting the acquisition of REX and seasonal working capital peak
