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Recticel: Automotive business puts brake on 2009 operating result

Recticel (Brussels / Belgium; www.recticel.com) has recorded an operating profit (EBITDA) of EUR 102m for 2009, a year-on-year fall of 6%, on sales of EUR 1.28 bn, down 18% on 2008. The flexible foams business made the largest contribution to operating profits with EUR 45.1m in 2009, up 44% on 2008.

All of Recticel’s business lines improved their profitability with the exception of automotive, which reported an operating loss of EUR 6.9m in 2009, compared with a profit of EUR 50m in 2008. The reverse from profit to loss includes non-recurring items totalling EUR 47.7m, primarily restructuring costs.

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