Brussels – Insulation specialist Recticel has reported a 15.3% rise in revenue in 2024, up to €610m from 2023’s €530m. The growth came despite continued tough end markets, it said. Adjusted EBITDA was up to €49.6m, representing a 26.7% increase over the €39.2m achieved a year earlier.
The company increased its market shares in both insulation boards and insulated panels. Revenue grew in all key geographies, including Benelux, France, Germany, the UK and the US.
Vergote: impressive progress
Two new facilities are under construction, including a €50m production facility for insulated panels in North America which is projected to open in Q4 2026. The company is also spending €13m on a recycling plant in Wevelgem, Belgium, with the insulation boards R&D group having optimised its proprietary circular PU technology. This, it said, will have a “substantial impact” on its Scope 3 emissions.
“Our relentless focus on future-smart insulation is paying off with more new product launches and certificates and impressive progress in operational excellence,” said CEO Jan Vergote. “We intend to continue the execution of our strategic growth plan with a combination of M&A and organic growth, backed by substantial headroom on our balance sheet.”
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