Recticel SA
RECT
ISIN BE0003656676 / Valor 446354
Recticel SA
UMushroom community rating:
About company
Recticel is a Belgian industrial manufacturer specializing in polyurethane foam and related systems, supplying foam materials and components to mattress and upholstery makers, the automotive industry (interiors and acoustic parts), and the construction and insulation markets. The company develops and produces flexible foams, rigid insulation solutions and technical foam parts, and sells both finished products and formulation/production systems to original equipment manufacturers and distributors across Europe and other markets. Recticel operates manufacturing and R&D facilities and is a publicly traded company, positioning itself as an industrial supplier rather than a consumer-brand retailer.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (02.09.2026):
Recticel SA — Q4 2025 / FY 2025 results: For the full-year 2025 (reported as Q4/year-end figures) Recticel posted sales of €655.1m (up 7.4% y/y), higher adjusted EBITDA (€55.8m) and improved adjusted operating profit (€24.6m), while reported group profit fell to €10.2m. The company’s net cash buffer narrowed (combined net financial debt moved from €(74.4)m to €(27.4)m), market capitalisation and year‑end share price declined modestly, and the dividend was maintained at €0.31 despite lower earnings per share.
Sales and margins
Sales rose to €655.1m in 2025 (+7.4% y/y). Gross margin held steady (17.4% vs 17.1% in 2024). Adjusted EBITDA increased to €55.8m (8.5% of sales vs 8.1% in 2024) and adjusted operating profit improved to €24.6m (3.7% of sales).
Profitability and earnings
Reported operating profit was €19.9m (versus €11.5m reported previously) but result attributable to the Group fell to €10.2m in 2025 (from €18.1m in 2024). Basic earnings per share (continuing + discontinued) declined to €0.19 (from €0.32).
Balance sheet and cash
Total assets slightly decreased to €685.6m and total equity was €430.4m. The reported combined net financial position moved from a €74.4m net cash position at end‑2024 to €27.4m net cash at end‑2025, i.e. a reduced cash buffer.
Shareholder returns and per‑share metrics
Gross dividend was kept at €0.31 per share; the pay‑out ratio rose sharply to 173% in 2025 due to lower earnings. Year‑end share price fell to €9.80 (from €10.48), pushing the P/E to 54.5 (from 32.7).
Key ratios and trends
ROE declined to 2.4% (from 4.1%). Current ratio eased to 1.83 (from 2.12). Annual growth slowed compared with 2024 (sales growth 7.4% in 2025 vs 15.3% in 2024) while EBITDA growth remained positive.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
852 M
Market cap (USD)
157,670
Daily traded volume (Shares)
10.44 / 10.22
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
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Ratings & reviews
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