 A Leading Supplier to the Specialty Chemical Industry Press release – Recticel Q1 2026 Trading Update – 22 April 2026 – 7:00 CET Page 1 of 2
TRADING UPDATE Q1 2026
Two Seasons In One Quarter
- Revenue in Q1 2026 is up 6.1% from EUR 158.4 million to EUR 168.1 million, entirely driven by
acquisitions
- After a slow start, we saw a very strong organic volume and revenue acceleration in March
- Strategic investment initiatives on track
Stefaan Debusschere, Chief Executive Officer Recticel Group:
“The first quarter has been characterized by an exceptionally strong contrast between a slow, weather-
beaten start-up of the year in the first 6 weeks, and a very dynamic rebound from the end of February
onwards. Organic revenue was under pressure by historically low raw material costs and sales prices.
The dramatic cost increases of raw materials and energy costs in the wake of the geopolitical crisis in the
Middle East, which were translated into higher sales prices, have spurred customers to buy ahead,
especially in Insulation Boards. We expect prices in Insulated Panels and Insulation Boards, to be subject
to an exceptionally high increase in the second quarter, depending on the category. At the beginning of
April, we see healthy orderbooks and high run rates, pointing towards a clear acceleration of volume and
revenue growth in the quarter. We do, at this time, not experience shortages in key raw materials.
Our polyol recycling unit is starting up as we speak, and the construction of our Insulated Panels plant in
Tennessee (US) is on schedule for an early Q4 production start. Our operational excellence initiatives
both in operations and administration continue, and we increase the share of our higher margin sales in
downstream & high performance solutions.
We expect another year of growth, but given the uncertain geopolitical situation, Recticel Group, at this
stage does not provide a quantitative outlook for the year.”
https://files.webdisclosure.com/1403115/20260422_Q1_2026_Trading_Update_final.pdf
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