Home / Knowledge / News / Textiles / Recticel Q3 sales down 2.7%
Recticel Q3 sales down 2.7%
31
Oct '13
Recticel announces results of third quarter of 2013 for different segments.

Combined sales decreased from EUR 316.4 million in 3Q2012 to EUR 307.9 million in 3Q2013 (-2.7%). Over the first nine months, combined sales decreased by 5.6% from EUR 996.6 million to EUR 940.5 million.

Highlights:

- Consolidated 3Q sales: from EUR 251.9 million to EUR 239.1 million.

- Consolidated year-to-date sales: from EUR 784.0 million to EUR 733.8 million.

- Net financial debt amounted to EUR 140.3 million, compared to EUR 143.8 million per 30 September 2012 and to EUR 123.7 million per 30 June 2013.

The negative sales trend observed in 1Q2013 (-9.5%) and in 2Q2013 (-4.4%) has further softened during 3Q2013 (-2.7%).

The persisting weak and very volatile economic environment in Europe (accounting for 94% of total net sales) together with a low consumer confidence, continues to weigh on the Group’s end-use markets. These end-use markets are all geared towards slow moving consumer goods and investment goods. The first signs of a progressive stabilization became noticeable during 3Q2013.

Sales in all Business Lines were broadly stable versus last year, with the exception of Bedding, where external sales decreased by 9.1% in a very depressed market.

Flexible Foams

Combined sales decreased from EUR 140.1 million in 3Q2012 to EUR 139.6 million in 3Q2013 (-0.4%). Over the first nine months, combined sales decreased by 1.5% from EUR 443.7 million to EUR 436.9 million.

Sales in the Comfort sub-segment decreased by -2.1% in 3Q2013, whereas sales in the Technical foams sub-segment increased by +2.7% impacted by higher sales in Eastern Europe and in the non-European markets.

In August 2013, Recticel started its first acoustic solutions’ deliveries to Boeing.

In September 2013, Recticel Ibérica announced its decision to streamline its Flexible Foams activities in Spain.

Recticel Ibérica will close its comfort foaming factory in La Eliana before the end of 2013, with activities being transferred to the Catarroja plant (Valencia province), and a total of 16 jobs being eliminated with related costs to be charged in 2H2013.

In addition, Recticel Ibérica has divested its IPF engineering activities (12 jobs), with a nonmaterial loss to be charged in 2H2013.

Click here to read full results

Recticel

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search