Slide 1: 2024 Results Analyst meeting
2024 Results Analyst meeting 4 March 2025 Jan Vergote, Chief Executive Officer Bart Van den Eede, Chief Financial Officer 1 Brussels, 4 March 2025 TRIMO project: Padel & tennis Ebeltoft, Denmark Analysts’ meeting – FY 2024 results
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forecasts which entail risks and uncertainties, including with regards to statements concerning plans, objectives, expectations and/or intentions of the Recticel Group and its subsidiaries. Readers are informed that such forecasts entail known an
Slide 3: 2024 in summary
2024 in summary FY24 characterized by tough end markets, increased price competition and raw material deflation Outperformed market trend through operational excellence, product innovation, organic and external growth in key geographies : Benelux, United Kingdom, France, Germany and the United S
Slide 4: Outlook
Outlook We are confident in our strong medium- and long-term organic growth potential. Recticel is growing through product innovation and operational excellence and expects to benefit from substantial pent-up demand for energy-efficient solutions in the construction sector. We intend to contin
Slide 5: Insulated Panels: execution of our growth strategy
Insulated Panels : execution of our growth strategy Rex Panels in growth mode and integration evolving well Further execution of TRIMO’s global growth strategy Construction of major greenfield production facility serving East & South-East US EUR 50 million investment Start-up in Q4 2026
Slide 6: Insulated Boards: construction of industry leading recycling plant in Wevelgem
Insulated Boards: construction of industry leading recycling plant in Wevelgem EUR 13 million investment Chemical recycling of PU waste into inputs for new board production Operational in Q1 2026 Attractive returns Substantial impact on scope 3 emissions 6 Brussels, 4 March 2025 Analysts’
Slide 7: Recap strategic topics 25-26
Recap strategic topics 25-26 Insulation Boards ● Continuous improvement through operational excellence ● Launch 15 new boards products with higher added value in the next 18 months ● Invest in profitable cradle-to-cradle solutions ● Develop biobased insulation. ● Further geographic and category ex
Slide 8: EU building regulations to enforce sustainability and circularity
EU building regulations* to enforce sustainability and circularity 25% DPP Digital Product Passport 10% 35% Centralised digital repository providing 15% critical data: • DoPC • General product info, 15% incl. safety and usage instructions • Info on material composition • Info on durability, recyclab
Slide 9: The EU Climate Law turns the 2050 climate neutral target into legal obligations
The EU Climate Law turns the 2050 climate neutral target into legal obligations with strict reporting on Environmental, Social and Governance topics (ESG) CSRD SFRD CSDD EU Corporate Sustainability EU Sustainable Finance Corporate Sustainability Reporting Directive (CSRD) Disclosure Regulation Due D
Slide 10: Our environmental metrics and targets
Our environmental metrics and targets 10 Brussels, 4 March 2025 Analysts’ meeting – FY 2024 results
Slide 11: Recticel is on track to meet its scope 1&2 SBTi near term target by 2030
Recticel is on track to meet its scope 1&2 SBTi near term target by 2030 All data restated (Rex included) scope 3 excluding Category 3.15, Investments 11 Brussels, 4 March 2025 Analysts’ meeting – FY 2024 results
Slide 12: Recticel reduced its scope 3 intensity per m³ by 8.2%
Recticel reduced its scope 3 intensity per m³ by 8.2% energy intensity per m³ All data restated (Rex included) scope 3 excluding Category 3.15, Investments 12 Brussels, 4 March 2025 Analysts’ meeting – FY 2024 results
Slide 13: Higher ESG scores from major rating companies
Recticel’s commitment to sustainability and its 2024 ESG performance is translated in higher ESG scores from major rating companies 13 Brussels, 4 March 2025 Analysts’ meeting – FY 2024 results
Slide 14: Financials
Financials
Slide 15: Consolidated Income Statement
Consolidated Income Statement in million EUR 2023 2024¹ % Sales 529.4 610.2 15.3% Gross profit 90.1 104.5 16.0% as % of sales 17.0% 17.1% Adjusted EBITDA 39.2 49.6 26.7% as % of sales 7.4% 8.1% EBITDA 36.1 42.6 17.8% as % of sales 6.8% 7.0% Adjusted operating profit (loss) 15.9 18.9 19.0% as % of sa
Slide 16: Dividend
Dividend The Board of Directors will propose to the Annual General Meeting of 27 May 2025 the payment of a stable gross dividend of EUR 0.31 per share on 56,605,920 shares. This represents a total dividend pay-out of EUR 17.5 million (2023: respectively EUR 0.31 per share and EUR 17.4 million in tot
Slide 17: Financial result and income taxes
Financial result and income taxes Financial result: EUR +3.4 million (vs EUR -4.1 million) • Interest charges: EUR -2.0 million (vs EUR -7.8 million): following proceeds from the divestment of Engineered Foams to Carpenter Co. Interest income increased due to the cash position of EUR +4.3 million
Slide 18: Results from continuing and discontinued operations
Results from continuing and discontinued operations Result of continuing operations: EUR 16.3 million (vs EUR -9.0 million) Result of discontinued operations: EUR 1.6 million (vs EUR 12.2 million) 2024 • Mainly represents the net capital gain as a result of the final agreement and settlement of
Slide 19: Net cash position of EUR 74.4 million at 31 December 2024
On 31 December 2024, Recticel had a net cash position of EUR 74.4 million in million EUR 31 DEC 2023 30 JUN 2024 31 DEC 2024 Total equity 438.0 432.0 445.1 Net financial debt excluding factoring (173.2) (72.9) (89.9) + Lease debt (IFRS 16) 11.3 14.9 15.5 Net financial debt (161.9) (58.1) (74.4) + Dr
Slide 20: Thank you
Thank you Recticel NV Avenue du Bourget/Bourgetlaan 42 1130 Brussels - Belgium Subscribe to Recticel email alerts on www.recticel.com/investors.html 20 Brussels, 4 March 2025 Analysts’ meeting – FY 2024 results