Urethane Blog

Recticel Results

April 29, 2025

Recticel Trading update first quarter 2025

Net organic sales increase from EUR 140.6 million in 2024 to EUR 158.4 million (+12.7%)
in 2025
Net cash position: EUR 52.0 million (31 December 2024: EUR 74.4 million)
Jan Vergote, CEO Recticel:
“Recticel announces strong organic volume growth in Q1 2025. Market prices were lower than
2024 averages, but have marginally improved compared to the record lows of Q4 2024.
We are noticing stronger activity in the residential sector in some Northwestern European
countries, helping our Insulation Boards business to grow double digit. Non-residential
renovation has also shown positive dynamics. Non-residential new construction, which accounts
for most of our Insulated Panels business, remains subdued, affecting margins.
The execution of our recycling investment in Belgium and our Insulated Panels investment in
the US is on schedule.
We repeat our outlook of continued organic growth throughout the year, and we are gradually
seeing more price increases in Q2 2025, primarily in Insulation Boards. Given the uncertainty
about their magnitude and persistence, Recticel at this stage, does not provide a quantitative
outlook for the year.”