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Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, today reported its preliminary unaudited financial results for the year ending 31 December 2021.
In 2021, Armacell realised net sales of EUR 676.6 million, an increase of 14.6% on 2020 (EUR 590.5 million). This performance was driven by the continuing recovery in various markets, market share gains, sales price increases implemented to compensate for higher input costs as well as the growth of the new ArmaGel product range. This growth was partially offset by a temporary slowdown of the wind blade industry following changes in incentive schemes in the USA and China.
Armacell generated an adjusted EBITDA of EUR 116.8 million (2020:...
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