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Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, announced its H1 2020 results on 13 August 2020. In the first half of 2020, net sales of Armacell declined by 10.4% to EUR 288.4 million, after record-breaking results of EUR 321.8 million in H1 2019. The effects of the Covid-19 pandemic resulted in lower sales in key markets, particularly in April and in May with several state initiated lockdowns affecting customers’ business activity and their demand.
Adjusted EBITDA reached EUR 52.5 million in H1 2020 (H1 2019: EUR 63.3 million). The EBITDA margin remained stable throughout H1 2020 at 18.2% (H1 2019: 19.7%). Effects of lower sales volumes were not entirely offset by immediate cost control...
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