Recticel (RECT) Q3 2025 TU earnings summary

Executive summary

• Organic volume growth continued in Q3 2025 for both Insulated Panels and Insulation Boards.

• High added value solutions outperformed commodity products.

• Strategic acquisitions in the Netherlands (Kuras BV) and Slovenia (Turvac d.o.o.) were completed to strengthen market position and accelerate growth.

Financial highlights

• Q3 2025 sales decreased by 0.9% year-over-year to EUR 155.2 million, mainly due to a sharp drop in raw material costs.

• Year-to-date September 2025 sales grew 7.7% to EUR 490.4 million compared to the same period last year.

Outlook and guidance

• Full-year 2025 guidance reiterated, with expectations of continued growth in high added value products.

• Anticipated rebound in permits and mortgage demand in Europe and the UK, with effects likely to be seen in 2026.

• Production at the new Tennessee facility expected to start in Q4 2026; recycling plant in Belgium to be operational by end of Q1 2026.