Netherlands: Recticel reported earnings before interest, taxation, depreciation and amortisation (EBITDA) of Euro17.4m in the first half of 2020, down by 43% year-on-year from Euro30.4m in the first half of 2019. Net sales fell by 18% to Euro374m from Euro454m. Insulation sales during the period were Euro113m, down by 13% from Euro130m.
Chief executive officer (CEO) Olivier Chapelle said that, “volumes were heavily affected by the Covid-19 lockdown measures from mid-March until May 2020. Accelerating activity levels in the building markets led to June volumes exceeding the level of 2019. Selling prices remained under pressure as a consequence of lower raw material costs.”
