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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 2023.
In 2023, Armacell realised net sales of EUR 836.1 million, an increase of 3.7% on 2022 (EUR 806.2 million). This performance was driven by higher volumes in the company’s key insulation segments, contributions from new products, additional sales from MA activities, and sales price increases implemented to compensate for higher input costs. Growth was partially offset by weaker demand in the wind market and in residential equipment, to which Armacell only has limited exposure.
Armacell generated an adjusted EBITDA of EUR 154.6...
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