Recticel N.V./S.A. Business Report FY ended Dec. 2012
Business Highlights
Financial Overview |
(in million euros) |
FY ended Dec. 31, 2012 | FY ended Dec. 31, 2011 | Rate of change (%) | Factors | |
Overall | ||||
Sales | 1,319.5 | 1,378.1 | (4.3) | - |
EBITDA | 81.1 | 88.8 | (8.7) | - |
Automotive | ||||
Sales | 289.2 | 324.3 | (10.8) | 1) |
EBITDA | 22.5 | 24.4 | (7.8) | - |
Factors
1) Automotive
-Sales in Automotive decreased by 10.8% year-on-year, due to a substantially reduced car production in Europe.
Sales structure of Automotive division
(%) | |
Interiors | 48.4 |
Seating | 47.6 |
Exteriors | 4.1 |
-Sales in "Interiors" decreased by 14.6% year-on-year. This drop was expected as some programs, mainly in the USA, were phasing-out. The interiors sub-segment resisted better than the market, because it's positioned on the premium car segment in Asia and Germany.
-Sales in "Seating" increased by 6.2% year-on-year, performing slightly better than the general automotive market in Europe, which dropped by more than 7.5%. Sales comes from Proseat, the 51/49 joint venture from Recticel and Woodbridge.
-Sales in "Exteriors" decreased by 14.3% year-on-year. Since the sale of the compounding activities to BASF in 2008, sales are limited to compounds produced for the account of BASF under a toll agreement.
Recent Years
Contracts
Factory | Product | Application | Car maker | Car model | Year of Sale |
Ningbo, China | Polyurethane | Instrument panel skin | Volvo | "S60" | 2013-2018 |
Ningbo, China | Light polyurethane | Instrument panel skin | Volkswagen | "Golf A Plus" | 2014-2021 |
Mlada Boleslav, Czech | Light polyurethane | Dash board skin | Volvo | "XC90" | 2016-2023 |
Mlada Boleslav, Czech | Light polyurethane | Glove box skin | Volvo | "XC90" | 2016-2023 |
Mlada Boleslav, Czech | Light polyurethane | Door panel skin | Volvo | "XC90" | 2016-2023 |
- | Polyurethane | Instrument panel skin | BMW | "3 series" | 2012 |
- | Light polyurethane | Door panel skin | BMW | "3 series" | 2012 |
Beijing, China | Polyurethane | Dash board skin | Mercedes-Benz | "E-Class" | 2012-2016 |
- | Polyurethane | Dash board skin | Mercedes-Benz | "C-Class" | -2014 |
- | Polyurethane | Door panel skin | Mercedes-Benz | "C-Class" | -2014 |
- | Polyurethane | Dash board skin | Porsche | "Cajun" | 2013- |
Plant Restructuring
-Nov., 2012: Clarkson factory (U.S., Michigan) of Interior division was closed.-Apr., 2012: Unterriexingen factory (Germany) of Interior division was closed.
-Feb., 2012: Beijing factory (China) of Interior division was opened.
R&D
R&D Expenditure |
(in million euros) |
FY ended Dec. 31, 2012 | FY ended Dec. 31, 2011 | FY ended Dec. 31, 2010 | |
Overall | 14.1 | 14.1 | 13.7 |
% of Sales | 1.1 | 1.0 | 1.0 |
R&D Structure
-The Company has an International Development Center (IDC) in Wetteren, Belgium. In Feb. 2013, new state-of-the-art research and test labs opened on the same site.R&D Activities
-The Company puts high priority on the R&D of weight reduction of mold skin and the use of renewable raw materials from natural and / or recycled resources.Product Development
-In July 2012, the Company introduced Light polyurethane "Colo-Sense Lite" and "CompoLite" in BAIKA-Congress held in Ingolstadt, Germany. With "Colo-Sense Lite" weight reduction will be more than 35% compared to conventional thermoplastic slush skin.Investment Activities
Capital Expenditure |
(in million euros) |
FY ended Dec. 31, 2012 | FY ended Dec. 31, 2011 | FY ended Dec. 31, 2010 | |
Overall | 52.1 | 33.3 | 35.2 |
Automotive | 6.4 | 7.0 | 11.2 |
% of Automotive Sales | 2.2 | 2.2 | 3.4 |