Belgium: Recticel’s sales revenue grew by 19% year-on-year to Euro274m in the first half of 2022 from Euro230m in the same period in 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 11% to Euro24.5m from Euro22.1m.
Olivier Chapelle, the company’s chief executive officer, said “We are satisfied with the sales and profitability development of our Insulation activities, in a highly challenging environment characterised by supply chain disruptions, by historical inflation on raw materials, labour, transportation and energy costs, and by economic uncertainties. Volumes have been slightly higher than in 2021, and our business teams have been able to compensate all inflationary pressures during the period. In parallel, our operations teams have displayed high flexibility to accommodate the supply chain challenges.”
