Brussels -- Belgium-based polyurethane foam producer Recticel reported a consolidated sales increase of 3.4% from EUR247.5m ($344.4m) during Q1 2013 to EUR255.9m during the first quarter of this year.
According to the company, which is scheduled to release its Q1 financial report on 7 May 2014, sales in all business lines increased. Insulation saw an 11.3% rise in sales, said the company.
Combined Q1 sales increased by 4.9% from EUR317.9m to EUR333.4m compared to Q1 last year. Recticel's "improved recurring profitability" is, said the company, “well in line with market consensus.”
Net financial debt amounted to EUR145.9m compared to EUR159m at the end of March in 2013 and to EUR138.2m at the close of 2013.
Its combined net financial debt stood at EUR191.3m at the end of the first quarter in 2013 but dropped to EUR170.5m at the end of the same quarter this year. At the start of 2014, this figures was stated as EUR165.1m.
As reported by Utech-polyurethane.com, Recticel had a tough trading year in 2013.
XE currency conversion: 7 May
