Armacell Financial Highlights 2017

en de

Revenues up by 8% to EUR 603 million. Adj. EBITDA increased to EUR 102 million. Integration of acquired businesses on track.

<< Back
07/03/2018 |
  • Armacell

Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, today reported its unaudited financial results for the year ending 31 December 2017.
In 2017, Armacell increased its revenues by 8.0% to EUR 603.2 million (2016: EUR 558.6 million). EBITDA excluding non-recurring items was EUR 102.1 million (2016: EUR 100.4 million).
Commenting on the company’s financial performance, Patrick Mathieu, President & CEO of the Armacell Group, said: “We continued to deliver on our international growth strategy and expanded the Group’s market position across all our regions. Today, Armacell offers a complete portfolio of thermal and acoustic equipment insulation solutions. Our M&A activity in combination with our internal operational efficiency programs will drive significant synergies in
2018 and beyond.”
With 25 production plants in 16 countries Armacell has a strong market position in the growing flexible equipment insulation market segments across Europe, the Middle East and Africa, the Americas and Asia Pacific.
Advanced Insulation EMEA: Armacell acquired Danmat Iso Systems, a leading provider of integrated cladding solutions in Scandinavia and launched construction of a greenfield production site in the Kingdom of Bahrain to service the growing domestic demand in the GCC states and to reinforce its commitment to the Gulf Region where the Group has been operating since 2008. Starting production in H2 2018, Armacell will manufacture a comprehensive range
of products, including high-density materials and elastomeric insulation for heating, ventilation and air-conditioning (HVAC) systems.
Advanced Insulation AMERICAS: Armacell significantly expanded its North American production capacity with the integration of Nomaco’s PE insulation business and the expansion of crosslinked polyethylene (XPE) manufacturing in the USA. In Latin America, sales were supported by the consolidation of the PoliPex insulation business in Brazil. In 2017, Armacell further expanded its LATAM business across the continent and is today present in Argentina, Brazil,
Colombia, Ecuador and Uruguay.
Advanced Insulation APAC: Armacell started producing a new suite of state-of-the-art silica aerogel blankets for high-temperature applications from the company’s existing manufacturing facility in Cheonan, close to Seoul. Covering 21,200 square meters, the Cheonan facility is set to become an important hub for industry-leading aerogel manufacturing solutions. In addition, a new certificate granting Armacell access to public projects in South Korea contributed to strengthening growth across the region.
Engineered Foams: The PET manufacturing footprint was expanded with a new production line in Brampton, Canada. Based on the strong demand in Asia, Armacell decided to expand its PET foam production to China, making Armacell the only manufacturer globally to offer PET foam cores made from 100% recycled PET. In parallel, the company put its Component Foams business under new leadership and launched a major investment project to reposition itself in the US component foams market.
Over the last twelve months, Armacell further strengthened its free cash flow and significantly improved the financial strength of the company. As of 31 December 2017, the company had cash on hand of EUR 50 million and a principally undrawn revolving credit facility of EUR 100 million. Armacell is rated B (stable) by Standard & Poor’s and B3 (positive) by Moody’s.

Back to top  | << Back

Communiqués liés

pwc logo
28/03/2024

Luxembourg's competitiveness: are we still in the race? Seiz...

The 17th Journée de l’Economie took place on 26 March 2024 at the Luxembourg ...

PwC Luxembourg
Wasilewski Didier 2024
28/03/2024 Personnalités

Didier Wasilewski rejoint la direction générale du groupe ...

Didier Wasilewski, Senior Executive d'artelis s.a. et directeur commercial de lo...

Artelis S.A.
Chris Allen - Group CEO Quintet Private Bank
28/03/2024

Le bénéfice net 2023 de Quintet s’élève à 46,9 millio...

Quintet Private Bank, opérant à travers l'Europe et le Royaume-Uni, a annoncé...

Quintet Private Bank
Old town Zurich
28/03/2024

Immobilier de luxe en Suisse – Cela ne marche pas tout seu...

En 2023, le segment du luxe n’a pas été épargné par la hausse des taux d...

UBS Luxembourg
 62A0290 sm
26/03/2024

DLA Piper relocates to iconic Nova Building at the heart of ...

Global law firm DLA Piper will move on 2 April to its new Luxembourg home, the i...

DLA Piper
500 dim250--035-edit-sized-4

Goodyear inaugure son nouveau centre de simulation à Colmar...

Goodyear Tire & Rubber Company a officiellement inauguré aujourd'hui son centre...

Goodyear

Il n'y a aucun résultat pour votre recherche

We use cookies to ensure the best experience on our website. By accepting you agree the use of cookies. OK Learn more