International. Armacell announced that it increased its revenues by 3.4% in 2016 to 558.6 million euros, exceeding 540.2 million euros, a record result achieved in 2015. The company explained that despite the difficult macroeconomic environment, all business units have increased sales. The growth in sales volume was approximately 6% over the previous year. Adverse currency effects affected revenues by 1.5%.
In 2016, EBITDA, excluding non-recurring items, was €100.4 million (€95.5 million in 2015), an increase of 5.1% compared to 2015. Adjusted EBITA increased by 4.7% to €82.5 million (2015: €78.8 million).
According to Patrick Mathieu, President and CEO of Armacell International SA, the group's good performance is associated with certain factors. "With the full support of our shareholders, Blackstone and Kirkbi Invest A/S, we still have steady growth across all of our business units in 2016." Also according to Mathieu, the positive balance shows the dynamics of the company's business model, focusing on multiple applications and resilience through economic cycles. "These financial results also underscore the commitment of our teams and customers and encourage us to persist in our efforts to deliver innovative, high-quality products."
The integration of recent acquisitions, both in traditional and new markets, is also part of Armacell's strategic plan through 2016 to increase its international presence and level of customer service.
Among the company's recent acquisitions, the following stand out:
- Advanced Insulation Americas: Armacell has acquired two major manufacturers in the production of polyethylene foam. The first acquisition (PoliPex, Brazil) significantly strengthened Armacell's product and brand portfolio in South America, while the acquisition of the Nomaco insulation business unit (USA) significantly increases its polyethylene operations in North America.
- Advanced Insulation APAC: The company, together with Jios aerogel Ltd in South Korea, has established a joint venture for the development and manufacture of aerogel blankets. The partnership allows Armacell to offer a more comprehensive portfolio of thermal and acoustic insulation solutions for the oil and gas industry.
- Advanced Insulation EMEA: In early 2016, Armacell launched its "Brownfield project" in Russia with production in Lobnya, manufacturing a wide range of products, including high-density materials.
