|Press Release of Recticel – 29 August 2018|
|FIRST HALF-YEAR 2018 RESULTS
• Combined sales growth of +4.0% despite an adverse currency impact of -1.2%
Olivier Chapelle (CEO): We are satisfied with the overall 4.0% sales growth generated during the 1st half of 2018, amid challenging market conditions in the comfort and bedding markets, and despite a -1.2% adverse currency environment.
Our combined REBITDA margin further improves from 6.9% to 7.4%, thanks to the dedication of our teams to mitigate the effects of historically high raw material prices during 1st quarter and of adverse currency evolutions.
Going forward, we remain concentrated on three axes to create the conditions for future growth:
Regarding our decision to divest our Automotive divisions, we confirm that the processes engaged during the 1st quarter are on-going, and so far progressing according to plan.
For the full-year 2018 the Group expects continued growth of its combined sales and REBITDA thanks to a combination of volume growth, improved mix and efficiency gains.