Two Seasons In One Quarter

TRADING UPDATE Q1 2026

Two Seasons In One Quarter

• Revenue in Q1 2026 is up 6.1% from EUR 158.4 million to EUR 168.1 million, entirely driven by acquisitions
• After a slow start, we saw a very strong organic volume and revenue acceleration in March
• Strategic investment initiatives on track

Stefaan Debusschere, Chief Executive Officer Recticel Group:

“The first quarter has been characterized by an exceptionally strong contrast between a slow, weather‑beaten start-up of the year in the first 6 weeks, and a very dynamic rebound from the end of February onwards. Organic revenue was under pressure by historically low raw material costs and sales prices. The dramatic cost increases of raw materials and energy costs in the wake of the geopolitical crisis in the Middle East, which were translated into higher sales prices, have spurred customers to buy ahead, especially in Insulation Boards. We expect prices in Insulated Panels and Insulation Boards, to be subject to an exceptionally high increase in the second quarter, depending on the category. At the beginning of April, we see healthy orderbooks and high run rates, pointing towards a clear acceleration of volume and revenue growth in the quarter. We do, at this time, not experience shortages in key raw materials.

Our polyol recycling unit is starting up as we speak, and the construction of our Insulated Panels plant in Tennessee (US) is on schedule for an early Q4 production start. Our operational excellence initiatives both in operations and administration continue, and we increase the share of our higher margin sales in downstream & high performance solutions.

We expect another year of growth, but given the uncertain geopolitical situation, Recticel Group, at this stage does not provide a quantitative outlook for the year.”

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PRESS RELEASE

Regulated information – Inside information

Brussels, 22 April 2026 – 07:00 CET

Uncertainty risks concerning the forecasts made

This press report contains forecasts which entail risks and uncertainties, including with regard to statements concerning plans, objectives, expectations and/or intentions of the Recticel Group and its subsidiaries. Readers are informed that such forecasts entail known and unknown risks and/or may be subject to considerable business, macroeconomic and competition uncertainties and unforeseen circumstances which largely lie outside the control of the Recticel Group. Should one or more of these risks, uncertainties or unforeseen or unexpected circumstances arise or if the underlying assumptions were to prove to be incorrect, the final financial results of the Group may possibly differ significantly from the assumed, expected, estimated or extrapolated results. Consequently, neither Recticel nor any other person assumes any responsibility for the accuracy of these forecasts.

About Recticel Group

Recticel Group is a Belgian insulation Group with a strong presence in Europe and the USA. It offers smart insulation solutions that advance a carbon-free economy and a better quality of life.

Recticel comprises the divisions Insulation Boards, Insulated Panels and Acoustic Solutions.

Recticel Insulation designs polyurethane thermal boards for optimal building comfort and energy efficiency. This includes vacuum insulation panels (VIP) by Turvac.

Trimo enables the highest aesthetic standards and extends architectural capabilities with its mineral wool insulated panels and modular space solutions, primarily in non-residential applications. REX Panels & Profiles complements the portfolio with PIR and mineral wool roofing and wall systems. Miclar and Kuras focus on downstream services for the insulated panels market.

Soundcoat provides acoustic solutions used in some of the world’s leading technological innovations.

At the end of 2025, Recticel Group employed 1,311 people and had achieved sales of EUR 655.1 million. Its operations are spread over seven countries.

The Science Based Targets initiative (SBTi) approved Recticel Group’s near-term targets for the reduction of scope 1, 2 & 3 greenhouse gas emissions by 2030 (from base year 2021) and net-zero targets for 2050.

Recticel Group is listed on Euronext in Brussels (Euronext: RECT - Reuters: RECT.BR - Bloomberg: RECT:BB).

Financial calendar

Annual General Meeting 26.05.2026 (10:00 AM CET)

First half year results 2026 28.08.2026 (07:00 AM CET)

Third quarter trading update 2026 29.10.2026 (07:00 AM CET)

Media & Investor Relations

Investor Relations

Jan Vergote
Executive Chairman
vergote.jan@recticel.com
+32 2 775 18 01

Bart Van den Eede
Chief Financial & Legal Officer
vandeneede.bart@recticel.com
+32 2 775 18 01

Recticel NV
Bourgetlaan 42 avenue du Bourget
1130 Brussels
Belgium

This press release is available in English and Dutch on www.recticel.com.