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News Mannok’s sales rise in 2021

Mannok’s sales rise in 2021

Written by Global Insulation staff
16 May 2022
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UK: Mannok recorded sales of Euro270m in 2021, up by 16% year-on-year from Euro233m in 2020. The company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 17% to Euro25.8m from Euro31.1m. The group attributed this to substantial cost absorption beginning in mid-2021. It noted particularly high raw material costs in its insulation segment due to current global shortages. Overall energy prices rose by 66% year-on-year, while the cost of carbon emissions trading scheme (ETS) credits more than doubled to Euro80/t at the end of the year.

Mannok said that demand for its products remains resilient, supported by stronger cost recovery. It added that a levelling out in energy prices has driven stronger profitability in the first quarter and April of 2022.

Last modified on 14 June 2022
Published in Global Insulation News
Tagged under
  • Ireland
  • UK
  • Mannok
  • Results
  • costs
  • shortage
  • energy
  • raw materials
  • demand
  • GGM48

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