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Sales down 4.3% at Recticel in 2012

02 Mar '13
5 min read

Sales evolution in the 'Private label' sub-segment (EUR 126.0 million; -4.4%) was mixed. Higher sales in Switzerland and Scandinavia were compensated by significantly lower sales in Austria and to a lesser extent in Poland. Germany and Benelux remained stable.

Changes brought in the management of the division during 2012, including the appointment of a new General Manager Bedding, have immediately been translated in the Q4/2012 performance.

Sales
Sales in Insulation decreased by 1.1% from EUR 223.1 million to EUR 220.7 million. The Building Insulation sub-segment, which accounts for more than 90% of the segment sales, stabilised its turnover at EUR 205.3 million (-0.7%).

After a good performance during the first nine months of the year, Q4/2012 ended 10.5% below last year, as a result of softer construction markets, and an unfavourable comparison basis with Q4/2011 which had been very strong as a result of accelerated ordering from customers following Recticel's price increase announcement for January 2012.

Throughout the year, the overall activity level has been impacted by soft residential construction and renovation markets in Europe, with the exception of Germany. More specifically, the Dutch market has collapsed, while UK has been soft during the whole year. France and Belgium started to suffer in H2/2012.

Despite a difficult European construction market, structural demand for high performing polyurethane building insulation products is expected to continue to grow on the long term as a result of stricter insulation standards and regulations, higher energy prices and ever growing awareness of the need for more and better insulation.
The Industrial Insulation sub-segment (EUR 15.3 million; -5.4%) remained below expectations; particularly the fourth quarter was weak.

Recticel

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