Investor relations
Financials
Recticel's key figures for 2022 - 2023 are displayed below. Click on the links to go directly to a specific topic.
Balance sheet
| Balance sheet (in million EUR) |
2022 restated |
2023 |
| Non-current assets | 328,4 | 320,0 |
| Current assets | 746,5 | 339,9 |
| TOTAL ASSETS | 1.074,9 | 660,0 |
| Total Equity | 446,2 | 438,0 |
| Non-current liabilities | 250,7 | 90,7 |
| Current liabilities | 378,0 | 131,3 |
| TOTAL LIABILITIES | 1.074,9 |
660,0 |
| Net working capital | 44,8 | 23,7 |
| Market capitalisation (December 31st) | 873,5 | 596,0 |
| Non-controlling interests | 1,9 | 1,7 |
| Combined net financial debt | 250,0 | (161,9) |
| ENTERPRISE VALUE | 1.125,3 | 435,8 |
Income statement
| Consolidated income statement (in million EUR) |
2022 restated |
2023 |
|
Sales Gross profit |
587,8 113,4 |
529,4 90,1 |
|
Adjusted EBITDA EBITDA |
64,4 59,9 |
39,2 36,1 |
|
Adjusted Operating profit (loss) Operating profit (loss) |
43,8 38,3 |
15,9 12,6 |
|
Financial result Income from and impairments other associates + change in fair value of option structures |
(10,0) 1,2 |
(4,1) (9,5) |
| Result of the period before taxes | 29,4 | (1,0) |
| Income taxes | (16,0) | (8,0) |
| Result of the period after taxes - continuing operations | 13,5 | (9,0) |
| Result of the period after taxes - discontinued operations | 49,3 | 12,2 |
| Result of the period after taxes - continuing and discontinued operations | 62,8 | 3,2 |
|
of which Result of the period after taxes (share of non-controlling interests) of which Result of the period after taxes (share of the Group) |
0,4 62,4 |
(0,1) 3,3 |
| Profitability ratios |
2022 restated |
2023 |
| Gross profit / Sales | 19,3% | 17,0% |
|
Adjusted EBITDA / Sales EBITDA / Sales |
10,9% 10,2% |
7,4% 6,8% |
|
Adjusted Operating profit (loss) / Sales Operating profit (loss) / Sales |
7,4% 6,5% |
3,0% 2,4% |
| Result of the period after taxes (share of the Group) / Sales | 10,6% | 0,6% |
| ROE = Result of the period after taxes (share of the Group) / Total equity (Group share) (1) | 14,0% | 0,8% |
(1)annual average of equity (share of the Group) Average = [Equity (share of the Group) at the end of the previous period + Equity (share of the Group) at the end of the current period] / 2
| Annual growth rates |
2022 restated |
2023 |
| Sales | 30,9% | -9,9% |
| EBITDA | 19,1% | -39,7% |
| Operating profit (loss) | 2,0% | -67,1% |
| Result of the period after taxes (share of the Group) | 16,6% | -94,7% |
Key figures Recticel Group
Key figures per share
| Key figures per share | 2022 | 2023 |
| Number of shares (31 December) | 56.208.420 | 56.230.920 |
| Weighted average number of shares outstanding (before dilution) | 55.799.134 | 55.897.911 |
| Weighted average number of shares outstanding (after dilution) | 56.686.814 | 56.511.223 |
| in EUR |
2022 restated |
2023 |
|
Adjusted EBITDA EBITDA |
1,14 1,07 |
0,70 0,64 |
|
Adjusted operating profit (loss) Operating profit (loss) |
0,78 0,68 |
0,28 0,22 |
|
Earnings per share - continuing operations Earnings per share - discontinued operations |
0,24 0,88 |
-0,16 0,22 |
|
Earnings per share of continuing and discontinued operations - Basic (2) Earnings per share of continuing and discontinued operations - Diluted |
1,13 1,11 |
0,06 0,06 |
|
Gross dividend Pay-out ratio |
0,31 28% |
0,31 527% |
|
Net book value (share of the group) Price / Earnings ratio (3) |
7,43 14,0 |
7,79 180,1 |
(2) calculated on the basis of the weigthed average number of shares outstanding (before dilution effect)
(3) based on the share price of 31 December. Earnings = Result of the period (share of the Group) per share
| Share prices (in EUR) | 2022 | 2023 |
| share price on 31 December | 15,54 | 10,60 |
| lowest share price of the year | 12,36 | 8,22 |
| highest share price of the year | 22,20 | 18,10 |
| average daily volume traded (units) | 84.787 | 64.770 |
Ratios
| Financial structure ratios |
2022 restated |
2023 |
| Net financial debt / Total equity | 56% | n.a. |
| Total equity / Total assets | 42% | 66% |
| Current ratio (4) | 1,97 | 2,59 |
(4) current assets / current liabilities
| Valuation ratios |
2022 restated |
2023 |
| Price / Earnings (Market capitalisation (Dec 31st) / Result of the period (share of the Group))(5) | 14,0 | 180,1 |
| Enterprise value / Operating profit (loss) | 29,4 | 34,6 |
| Price / Book value (=Market capitalisation/Book value (share of the Group)) | 2,0 | 1,4 |
(5) based on the share price of December 31st. Earnings = result of the period (share of the Group) per share
| Investments versus Amortisation/Depreciation (in million EUR) |
2022 restated |
2023 |
| Investments in intangible and tangible fixed assets | 13,0 | 21,3 |
| Amortisation, depreciation and impairments (excluding amortisation on goodwill, including impairment) |
18,7 | 20,4 |
| Investments / Sales | 2,2% | 4,0% |
