Armacell Financial Highlights 2021


Volume growth in all divisions confirms the strength of the business model and proves Armacell’s resilience.

<< Back
25/02/2022 |
  • Armacell

Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, today reported its preliminary unaudited financial results for the year ending 31 December 2021.

In 2021, Armacell realised net sales of EUR 676.6 million, an increase of 14.6% on 2020 (EUR 590.5 million). This performance was driven by the continuing recovery in various markets, market share gains, sales price increases implemented to compensate for higher input costs as well as the growth of the new ArmaGel product range. This growth was partially offset by a temporary slowdown of the wind blade industry following changes in incentive schemes in the USA and China.

Armacell generated an adjusted EBITDA of EUR 116.8 million (2020: EUR 119.6 million). The adjusted EBITDA margin was 17.3% (2020: 20.2%). EBITDA growth was partially offset by significantly higher raw material and freight costs. Compensating price increases and other mitigating actions were implemented, but a degree of delay had to be respected.

Commenting on the financial performance, Patrick Mathieu, Armacell’s President & CEO, said: “In 2021, our business was affected by challenging economic circumstances: significantly higher raw material costs, raw materials in short supply, sea freight fraught with difficulties. In this context, our historically high sales were remarkable.” On pricing and cost increases, Mathieu added: “In a year of fierce and substantial inflation of raw material and transport costs, we were able to proactively increase sales prices and absorb a large part of those changes. 2022 will see further increases as inflation now impacts all cost categories.”

Armacell maintained a high level of investment to advance its product portfolio and innovation. The company continued with its manufacturing capacity and warehouse expansion, including additional recycled PET production capacity, increased FEF production capacity in all regions and enlarged warehousing capacity to further improve its service to customers.

In 2021, Armacell put even greater emphasis on sustainability in its operations. In the development of innovative thermal, acoustic and mechanical solutions, the company is particularly concentrating on aspects of relevance to climate, energy consumption and carbon emissions.

Armacell’s sustainable and innovative technologies are opening new business opportunities, for example by significantly reducing the density of flexible elastomeric foam products and advancing the company’s passive fire protection business. Armacell’s high-performance rPET foams, which are entirely manufactured from recycled plastic bottles, are also adding new opportunities with a focus on insulation.

Armacell is rated B by Standard & Poor’s and B3 by Moody’s.

Back to top  | << Back

Communiqués liés


Réseau ETRE est le nouveau lauréat du Degroof Petercam Fou...

Réseau ETRE remporte la sixième édition du Degroof Petercam Foundation Award....

Degroof Petercam
Job Shadow Day ALIPA

Le Groupe ALIPA accueille une étudiante dans le cadre du Jo...

ALIPA Group, spécialiste du levage et de l’emballage industriel, a accueilli ...

Bryan Crawford - Quintet

Quintet lance le premier d’une série de nouveaux fonds e...

La banque privée européenne lance un fonds d’actions américaines sous gesti...

Quintet Private Bank
Left to right; Jin-yong Kim HyunYong Jung Jacques Flies Minwoo Kang (002)

Gcore opens the first H100-based data center in Korea - Part...

Gcore the global edge AI, cloud, network, and security solutions provider, will ...


ALD Automotive Luxembourg devient Ayvens

ALD Automotive / Leaseplan dévoile aujourd'hui Ayvens, sa nouvelle marque de mo...

ALD Automotive
ERG 8014

Eurasian Resources Group to Donate 500 Million Tenge to Floo...

Eurasian Resources Group (ERG), a leading diversified natural resources group he...

Eurasian Resources Group

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