Brussels -- Recticel has issued a trading statement showing that combined 3Q sales rose by 0.5% from EUR 307.9 m in the third quarter of 2013 to to EUR 309.5 m in the comparable period in 2014.
Net financial debt rose by around 14% to EUR 193.2 in the third quarter of 2014,compared to EUR 168.8 million on September 2013.
Recticel said that after a good first quarter in 2014 where sales rose by 4.9% and a much softer second quarter in 2014, where sales fell by 0.9%, the third quarter saw sales rise by 0.5% in the third quarter of 2014.
The insulation segment saw 1.1% growth in the first half of the year and this accelerated in the third quarter to 3.9%. The flexible foam segment saw 3.9% growth and bedding saw a 0.5% sales growth in the third quarter, both segments reflect the weak European comfort and bedding markets.
The Automotive segment recorded a 6.5% drop in sales in in the third quarter of 2014 compared with the same period in 2013. This is a consequence of planned program phase-outs at the end of the first half of 2014, said Recticel