Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Coronavirus
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
    • Xinxiang Chemical Fiber to expand PU elastane capacity
      Scientists design photo-degradable PU
      Toyochem creates moisture-permeable medical urethane adhesives
      Jason Furniture plant construction in China and Vietnam continues
    • Polyol, diisocyanate shortages could stop US car production
      2019, istock, spray foam, spf, generic, 800.jpg
      CPI and Caliber expand Canadian SPF safety training
      Maine’s Poly Labs doubles workforce
      Novoloop introduces TPU made with recycled PE
    • Western Europe's automotive market adrift in February 2021
      2020 sales down in busy year at Recticel
      Asset write downs hit BASF in 2020, trading flat in year
      iStock, 2019, automotive, interior,generic,original.jpg
      Adler Plezer in talks to buy Faurecia's AST interiors business
    • 2020 sales down in busy year at Recticel
      iStock, 2019, automotive, interior,generic,original.jpg
      Adler Plezer in talks to buy Faurecia's AST interiors business
      Turkish sandwich panel maker expands to Azerbaijan
      BPCL Polyol project in doubt
    • 2020 sales down in busy year at Recticel
      Asset write downs hit BASF in 2020, trading flat in year
      Depressed automotive demand in 2020 hit Faurecia's numbers
      Casper 2020 sales up 9%, losses fall
    • Western Europe's automotive market adrift in February 2021
      Polyol, diisocyanate shortages could stop US car production
      iStock, 2019, automotive, interior,generic,original.jpg
      Adler Plezer in talks to buy Faurecia's AST interiors business
      Depressed automotive demand in 2020 hit Faurecia's numbers
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
    • China’s PU industry on the path to recovery; plans for technology upgrades
      Chinese cold chains grow bigger
      Flexible foam rises to challenges in the Middle East and Africa
      Life at the cross-roads: what does the GCC offer PU?
    • Europe's flexible foam makers face rising prices as outages hit markets
      Western European car registrations rebound slowed in September
      Western European car registrations regained some ground in August
      Western European Car registrations rebound continued in July
    • Take out the VOC with hybrid release agents
      Batteries give pultrusions power
      Seeing a way through VOC and FOG
      Aromatic polyols for simpler rigid PU formulations
    • Hennecke and Frimo: an automotive partnership
      Pushing ahead: AutoRIM drives KM’s UK growth
      BASF opens it first ‘Creation Center’ in Mumbai with a PU twist
      Persistence pays off for CTM
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
September 01, 2017 12:00 AM

Recticel sees sales grow almost 6% in H1 2017

Simon Robinson
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Brussels — Belgium-based foamer, Recticel saw sales rise 5.9%  to EUR 566m in the first half of 2017 despite a tough material supply position.

    Olivier Chapelle, CEO said: 'During the first half of 2017, the group has faced very challenging raw material supply conditions: several forces majeure at suppliers, unprecedented raw material price increases and MDI supply shortages have constituted very serious headwinds for the business.

    'This was complemented by the further weakening of the Pound Sterling an overall appreciation of the Euro,' he continued. Referring to the fire at its automotive interiors factory in Most, Czech Republic, he said that the problems it created are 'in the process of being gradually solved. Reconstruction of the most facility is ongoing and the plant will be fully operational again by mid-October 2017.'

    While sales were up 5.9% in the first half of the year, gross profit fell by 16.4% to EUR 91 m, compared to EUR 109 m in the first half of 2016.  This, the company said, can be explained by: an additional EUR 17 m in costs due to alternative production solutions and operational inefficiencies linked to the fire incident in Most. The lag between price rises from suppliers and the firm's ability to pass these on to customers also accounted partially for this.

    Looking at the company's sales by segment, the firm saw  an 18.1% increase in sales in the automotive sector from EUR 147 m to EUR 174 m in the first half of 2017. This was followed by the insulation business where sales grew from EUR 118 m in the first half of 2016 to EUR 129 m in the first half of 2017, up 9.4%. The largest fall was in the bedding sector where sales slipped from EUR 148 m in the first half of 2016 EUR 138 m in the first half  of 2017.

    In terms of profitability, flexible foams made EUR 23.3 m at the REBITDA level compared to EUR 28.2 m in the 2016 half. At this level, bedding dropped to EUR 7.7 m from EUR 7.9 m, insulation from EUR 17.8 m to EUR 14.2 m. In the Automotive segment, there was a large increase in REBITDA of almost 28% to EUR 13.5 m in the first half of 2017 compared to EUR 10.5 m in the first half of 2016.

    In the flexible foam segment, operational efficiencies and product mix  were improved during the half compared to the same half in 2016. However, the impact of increasing raw materials costs hit profitability. The insulation segment saw  profitability decrease 'temporarily as a result of the time lag needed to pass on the higher raw material prices to the market and the impact of the of the shortages in MDI supply in the second quarter of 2017,' Recticel said. High prices also hit the volume of product sold, the company said.

    In the automotive sector, Recticel benefited from higher volumes in the interior sub segment because of new interior programs and solid market demand.

    Recommended for You
    Xinxiang Chemical Fiber to expand PU elastane capacity
    Xinxiang Chemical Fiber to expand PU elastane capacity
    Western Europe's automotive market adrift in February 2021
    Western Europe's automotive market adrift in February 2021
    Scientists design photo-degradable PU
    Scientists design photo-degradable PU
    Latest Issue
    Click HERE for Free Download
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Office 127,
    61, Willow Walk,
    London
    SE1 5SF
    E-mail us
    +44 (0) 203 287 5979

    Customer Service:
    +1 313 446 0450

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • Coronavirus
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe