Recticel SA/NV manufactures and markets polyurethane foams for the flexible foams, bedding, insulation, and automotive applications.
+ 1 more risk
Adequate balance sheet second-rate dividend payer.
Share Price & News
How has Recticel's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: REC's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: REC exceeded the Belgian Chemicals industry which returned 2.1% over the past year.
Return vs Market: REC exceeded the Belgian Market which returned -20.6% over the past year.
Price Volatility Vs. Market
How volatile is Recticel's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall StDoes Recticel's (EBR:REC) Statutory Profit Adequately Reflect Its Underlying Profit?
2 days ago | Simply Wall StAre Recticel's (EBR:REC) Statutory Earnings A Good Guide To Its Underlying Profitability?
1 week ago | Simply Wall StShould Recticel SA/NV (EBR:REC) Be Part Of Your Dividend Portfolio?
Is Recticel undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: REC (€9.05) is trading above our estimate of fair value (€8.2)
Significantly Below Fair Value: REC is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: REC is good value based on its PE Ratio (20.1x) compared to the BE Chemicals industry average (38.5x).
PE vs Market: REC is poor value based on its PE Ratio (20.1x) compared to the Belgian market (13.7x).
Price to Earnings Growth Ratio
PEG Ratio: REC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: REC is overvalued based on its PB Ratio (1.8x) compared to the BE Chemicals industry average (1.4x).
How is Recticel forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: REC's earnings are forecast to decline over the next 3 years (-5.9% per year).
Earnings vs Market: REC's earnings are forecast to decline over the next 3 years (-5.9% per year).
High Growth Earnings: REC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: REC's revenue is expected to decline over the next 3 years (-5.1% per year).
High Growth Revenue: REC's revenue is forecast to decline over the next 3 years (-5.1% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: REC's Return on Equity is forecast to be low in 3 years time (9%).
How has Recticel performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: REC has a large one-off loss of €7.8M impacting its December 31 2019 financial results.
Growing Profit Margin: REC's current net profit margins (2.4%) are lower than last year (2.6%).
Past Earnings Growth Analysis
Earnings Trend: REC has become profitable over the past 5 years, growing earnings by 39.1% per year.
Accelerating Growth: REC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: REC had negative earnings growth (-14.2%) over the past year, making it difficult to compare to the Chemicals industry average (-14.2%).
Return on Equity
High ROE: REC's Return on Equity (9%) is considered low.
How is Recticel's financial position?
Financial Position Analysis
Short Term Liabilities: REC's short term assets (€300.6M) do not cover its short term liabilities (€332.3M).
Long Term Liabilities: REC's short term assets (€300.6M) exceed its long term liabilities (€194.8M).
Debt to Equity History and Analysis
Debt Level: REC's debt to equity ratio (44.1%) is considered high.
Reducing Debt: REC's debt to equity ratio has reduced from 105.6% to 44.1% over the past 5 years.
Debt Coverage: REC's debt is well covered by operating cash flow (55%).
Interest Coverage: REC's interest payments on its debt are well covered by EBIT (5x coverage).
What is Recticel current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: REC's dividend (2.65%) is higher than the bottom 25% of dividend payers in the Belgian market (2.5%).
High Dividend: REC's dividend (2.65%) is low compared to the top 25% of dividend payers in the Belgian market (5.34%).
Stability and Growth of Payments
Stable Dividend: REC's dividend payments have been volatile in the past 10 years.
Growing Dividend: REC's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (53.3%), REC's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: REC's dividends in 3 years are forecast to be well covered by earnings (48.1% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Olivier Chapelle (56 yo)
Mr. Olivier Chapelle is a Group General Manager of Bedding at Recticel SA since January 20, 2017. Experience: • Chief Executive Officer – Recticel 12/2009 – Present • Chief Executive Officer – Wagon Aut ...
CEO Compensation Analysis
Compensation vs Market: Olivier's total compensation ($USD1.76M) is above average for companies of similar size in the Belgian market ($USD420.80K).
Compensation vs Earnings: Olivier's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|CEO, MD||no data||€1.49m||no data|
|Chief Financial Officer||18.33yrs||no data||0.065% |
|Chief Information & Digitalisation Officer||no data||no data||0.030% |
|General Counsel||7.67yrs||no data||no data|
|Chief Human Resources Officer||no data||no data||no data|
|Chief Sustainable Innovation Officer||4.58yrs||no data||no data|
|Chief Procurement Officer||9.25yrs||no data||0.021% |
|Communications & Investor Relations Officer||no data||no data||no data|
|Managing Director - Bedding Germany||no data||no data||no data|
|Managing Director of Recticel Automobilsysteme Gmbh||no data||no data||no data|
Experienced Management: REC's management team is seasoned and experienced (8.5 years average tenure).
|CEO, MD||no data||€1.49m||no data|
|Independent Director||5.25yrs||€85.00k||no data|
|Non-Executive Director||6.25yrs||€47.50k||no data|
|Independent Director||8.25yrs||€52.50k||no data|
|Independent Chairman||5.25yrs||€140.00k||no data|
|Non-Executive Director||5.5yrs||€67.50k||no data|
|Independent Director||5.25yrs||€60.00k||no data|
|Independent Non-Executive Director||0.25yr||no data||no data|
|Independent Non-Executive Director||1.25yrs||€18.86k||no data|
Experienced Board: REC's board of directors are considered experienced (5.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Recticel SA/NV's company bio, employee growth, exchange listings and data sources
- Name: Recticel SA/NV
- Ticker: REC
- Exchange: ENXTBR
- Founded: 1896
- Industry: Commodity Chemicals
- Sector: Materials
- Market Cap: €499.665m
- Shares outstanding: 55.21m
- Website: https://www.recticel.com
Number of Employees
- Recticel SA/NV
- avenue Bourget, 42
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|REC||ENXTBR (Euronext Brussels)||Yes||Ordinary Shares||BE||EUR||Jan 1992|
|RCZ||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||Jan 1992|
|0NHV||LSE (London Stock Exchange)||Yes||Ordinary Shares||GB||EUR||Jan 1992|
|RECB||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Ordinary Shares||GB||EUR||Jan 1992|
Recticel SA/NV manufactures and markets polyurethane foams for the flexible foams, bedding, insulation, and automotive applications. The company operates through four segments: Flexible Foams, Bedding, Ins ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/08/12 21:42|
|End of Day Share Price||2020/08/12 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.