By Jaroslaw Adamowski
Brussels, Belgium – Recticel has reported higher sales for 2016, and remains optimistic for this year despite the fire that broke out at its Most, Czech Republic plant in January 2017.
The incident forced Recticel to halt the production of components for car makers, such as PSA Group, Volkswagen, Daimler and Renault. .
The company managed to raise annual sales to more than EUR 1 bn, up 1.4% compared with a year earlier, and earnings before interest, tax, depreciation and amortisation (EBITDA) of EUR 72.7m, up 37.5% compared with 2015, according to Recticel.
At the press conference that accompanied the release of Recticel’s annual results, Olivier Chapelle, the company’s cheif executive, said that Recticel is “satisfied with 2016, another year of sales and profit growth.”
He added that the fire in Most had a one-off financial impact of EUR 4 m on the manufacturer, after accounting for insurance, according to estimates by Recticel.
The Most plant is the sole manufacturer of a patented polyurethane skin for auto interiors made by Recticel. The firm declared force majeure on Jan. 22. On Jan. 27, Recticel’s engineers and contractors were allowed back inside the factory.
Meanwhile, local business daily De Tijd reported that deliveries from Recticel’s Czech factory and other production facilities have been resumed, but that “the situation still has not been normalised”
The plant in Most generated revenues of about EUR 20.3 m last year, and it is operated by a workforce of some 390 employees. Recticel operates a second Czech plant in Mlada Boleslav, in the country’s north-west. Both factories are located close to the German border.
Recticel says that in “2017, the group expects continued growth of its combined sales, and to increase its combined REBITDA thanks to a combination of volume growth, improved mix and efficiency gains.”