RECTICEL (EBR:RECT) |

Recticel accelerated its expansion during the third quarter of 2026, supported by demand for insulation, building-envelope systems and acoustic products despite persistent weakness in Europe’s construction industry.

The Belgian insulation group generated quarterly revenue of €201.1 million, an increase of 29.6% from €155.2 million in the same period of 2025. Growth also gained pace compared with the second quarter, when sales had risen by 25.6%.

Excluding acquisitions and other changes in the company’s scope, organic revenue advanced by 20.3%. That was up from 17.3% in the preceding quarter, indicating that a substantial share of the improvement came from Recticel’s existing operations.

Sales approach €600 million over nine months

For the first nine months of 2026, revenue reached €591.3 million, compared with €490.4 million a year earlier. This represented total growth of 20.6% and organic expansion of 12.2%.

The increase was distributed across several markets and business lines rather than being driven by a single activity. Insulation boards, insulated panels and specialist acoustic solutions all contributed, while the company reported progress across its principal geographic regions.

Recticel said its planned production facility in the United States remains on schedule. The greenfield project is intended to expand the group’s manufacturing presence beyond Europe and provide additional capacity for future demand.

Energy efficiency supports insulation demand

The results come against a challenging backdrop for construction. Elevated borrowing costs continue to restrain new projects and renovation activity in parts of Europe. However, high energy expenses and stricter building-performance expectations are strengthening the economic case for better insulation.

Buildings account for a significant share of energy consumption and greenhouse gas emissions. Improving roofs, walls and façades can reduce heating and cooling needs, lowering both operating costs and climate impacts. Energy-efficient properties may also command higher values as buyers and tenants pay closer attention to utility bills and environmental performance.

This combination creates an uneven market: overall construction activity remains subdued, but demand for products that improve thermal efficiency can outperform the broader sector. Recticel attributed its quarterly momentum to its product portfolio, commercial strategy and financial capacity to pursue expansion opportunities.

Profit forecast raised

Following the stronger-than-expected quarter, the group increased its full-year outlook. Recticel now anticipates adjusted earnings before interest, taxes, depreciation and amortisation of more than €70 million in 2026.

The revised forecast also reflects confidence in the company’s longer-term strategy through 2030. Nevertheless, the outlook remains exposed to interest rates, energy prices, construction volumes, competitive pressure and wider macroeconomic developments.

Climate targets accompany business expansion

Recticel operates in eight countries across Europe and the United States. Its activities include high-performance insulation boards, vacuum insulation, systems for flat and tapered roofs, mineral-wool and rigid-foam insulated panels, modular building solutions, and engineered acoustic products for aviation, transport and heavy industry.

At the end of 2025, the group employed 1,311 people and reported annual sales of €655.1 million. Alongside its commercial growth plans, it has established emissions-reduction targets covering direct operations, purchased energy and parts of its wider value chain. Its near-term objectives use 2021 as the base year and extend to 2030, while its longer-range ambition is to reach net-zero emissions by 2050.

For insulation manufacturers, the climate balance extends beyond the energy savings enabled by their products. Production can involve energy-intensive materials and processes, making reductions in manufacturing emissions and supply-chain impacts an important measure of genuine environmental progress.

Recticel’s latest figures suggest that demand for efficient building envelopes remains resilient even as the wider construction economy struggles. Whether this momentum continues will depend on renovation investment, financing conditions and the speed at which governments and property owners translate energy and climate goals into building upgrades.