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PRESS RELEASE Regulated information – Inside information Brussels , 29 October 2021 – 07:00 CET - RECTICEL The passion for comfort Trading update 3rd quarter 2021 Strong performance despite significant cost inflation • Net sales 3Q2021 increase from EUR 217.4 million in 3Q2020 to EUR 319.7 million ( + 47.1 % ) , of which + 15.8 % organic growth , + 0.5 % currency effect and a EUR 66.1 million contribution from FoamPartner² • Year - to - date September 2021 net sales increase from EUR 591.6 million¹ in 9M2020 to EUR 915.9 million ( + 54.8 % ) , of which + 31.2 % organic growth , + 0.2 % currency effect and a EUR 138.0 million contribution from Foam Partner² • Net financial debt : EUR 189.0 million ( 30 June 2021 : EUR 206.6 million ) Olivier Chapelle ( CEO ) : " The positive sales trend observed during 1 H2021 continued in 3Q2021 , driven by very strong demand in Insulation . Demand in Engineered Foams and Bedding has stabilised , due to overall hesitating consumer confidence and global supply chain issues affecting among others the automotive production . The chemical raw materials supply and prices are stabilizing , but volatility remains high given the recent steep inflation in energy costs affecting our suppliers . Our commercial teams continue to adapt pricing where necessary . The integration of Foam Partner in Engineered Foams continues to progress according to plan . The divestment process of our Bedding division is on track . It is the intention to sign a deal during 4Q2021 and to close the transaction in the course of 1Q2022 . The closing of the acquisition of the insulation board business of Gór - Stal is postponed sine die , as the owners have informed us recently that they do not want to proceed with the sale citing changed circumstances . Recticel will use all legal steps available to enforce the acquisition and obtain full damages . " OUTLOOK Despite declining momentum in some end - markets , reflecting a slowdown in economic recovery and supply chain disruptions , the Group confirms its expectation of an Adjusted EBITDA in a range between EUR 123 million to EUR 133 million for the full year 2021 , including the contributions of FoamPartner ( 9 months ) and its related synergies . 2 Following the partial divestment from Automotive Interiors on 30 June 2020 ( see press release of 01 July 2020 ) , Automotive Interiors is integrated in the consolidated accounts according to the ' equity method ' . FoamPartner is fully consolidated for the first time as from 01 April 2021 . To facilitate comparisons and understanding of the Group's underlying performance , all comments in this document on developments in revenue or results are made on a like - for - like basis unless otherwise indicated ; i.e. 9M2020 revenues and results have been restated to reflect the divestments of Automotive Interiors and the Eurofoam participation on 30 June , 2020 . The 3Q2021 and 9M2021 data include the contribution of FoamPartner ( since 01 April 2021 ) . Press release - 3Q2021 Trading Update - 29 October 2021 - 07:00 CET