DGAP-News: Armacell Financial Highlights 2020
Luxembourg, 17 March 2021 - 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 2020.
- Luxembourg, 17 March 2021 - 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 2020.
- In 2020, Armacell achieved net sales of EUR 590.5 million, a decrease of 8.4% vs. 2019 (EUR 644.4 million) and generated an adjusted EBITDA of EUR 119.6 million (2019: EUR 133.5 million).
- Commenting on the financial performance, Patrick Mathieu, Armacell's President & CEO, said: "In a complex and challenging environment our business model again proved resilient.
- Armacell focuses on insulation materials for technical equipment, high-performance foams for high-tech and lightweight applications and next generation aerogel blanket technology.