Belgium: Record earnings from Recticel’s insulation business have lifted the company’s financial performance in 2018. Adjusted earnings before interest and taxation (EBIT) rose by 13.2% year-on-year to Euro38.1m in 2018 from Euro33.7m in 2017. Overall, its adjusted EBIT fell by 4.8% from Euro63.3 from Euro66.5. Sales from its insulation division fell slightly to Euro244m.

“2018 has been a challenging year for Recticel, in a context of very soft European bedding and furniture demand since the spring, and of declining automotive demand in Europe and Asia since the summer. Thanks to the all-time high results of our Insulation division, the company has managed to hold the Adjusted EBITDA (-1.6%) in line with the level of last year,” said chief executive officer (CEO) Olivier Chapelle.

The foam products producer said that it had increased its stake in Turvac, a Slovenian producer of vacuum insulation panels, to 74% from 50% in early 2019. The company operates a plant in Šoštanj.

Ireland: Kingspan’s revenue grew by 19% year-on-year to Euro4.37bn in 2018 from Euro3.67bn in 2017. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 18% to Euro521m from Euro442m. Insulated panels sales rose by 21% to Euro 2.82bn due to good sales in the Americas and Europe. Insulation boards sales grew by 12% to Euro 864m due to the group’s acquisition of Synthesia Insulation in Spain, on-going growth of its Kooltherm product and general market buoyancy.

“2018 was a year of strong growth for Kingspan, with the company delivering revenues of over Euro4bn for the first time. Performance has been robust in most of our major markets, and momentum has improved through the year,” said Gene M Murtagh, chief executive of Kingspan.

Azerbaijan/Georgia: TechnoNicol plans to increase its mineral wool exports to Azerbaijan and Georgia from Russia by 30% year-on-year in 2019, according to the Trend News Agency. Mineral wool production at its Krasny Sulin plant in Russia increased by 6% year-on-year to 1.5Mm3 in 2018 due to growing exports.

US: Owens Corning’s insulation sales rose by 36% to US$2.72bn in 2018 from US$2bn in 2017. Its earnings before interest and tax (EBIT) increased by 64% to US$290m form US$177m. Overall, across all business lines, its sales and earnings grew in 2018 but slower than the insulation division.

“Owens Corning had another record year in terms of revenue and adjusted EBIT, with all three businesses delivering double-digit EBIT margins,” said chairman and chief executive officer (CEO) Mike Thaman.