on RECTICEL (EBR:RECT)
Recticel Experiences Accelerated Growth in Q3 2024
Recticel reported a robust net sales growth of 18% for the third quarter of 2024, reaching EUR 156.6 million compared to EUR 132.3 million in 2023. The company saw a 6% increase in organic net sales driven by higher trading volumes in Insulation Boards.
The year-to-date figures up to September 2024 indicate a 14% rise in net sales, amounting to EUR 455.2 million, with a 4% organic growth. Despite challenges in Central Europe and ongoing price pressures, Recticel performed well in markets like the Netherlands, Belgium, France, UK, and the Nordic countries.
The company remains cautiously optimistic for Q4, guided by strong order books. Enhanced productivity and plant utilization are also contributing factors. CEO Jan Vergote is confident in achieving an estimated EUR 50 million Adjusted EBITDA for the year.
R. P.
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