INVESTING IN YOUR FUTURE
ANNUAL REPORT 2017
INVESTING IN YOUR FUTURE
At Armacell, we measure our success by the added value that our innovative solutions deliver to a diverse range of industries – benefits of societal and ecological significance. We dedicate our business activities to advancing and optimising energy efficiency for equipment and to closing the loop to achieve a more sustainable use of resources.
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PAVING THE WAY TO GLOBAL LEADERSHIP.
PIONEERING PAST. PAVING THE WAY TO GLOBAL LEADERSHIP.
From cork insulation in Pittsburgh to best-in-class products for markets worldwide, Armacell’s history is characterised by a pioneering spirit, entrepreneurial thinking and an open mind for new developments. Today, we produce five million cubic metres of insulation foam per year.
The Armacell tradition: Inventive spirit driving our success.
OUR RESPONSE TO GLOBAL MEGATRENDS.
EMBRACING THE FUTURE. OUR RESPONSE TO GLOBAL MEGATRENDS.
How we respond to global megatrends will define our future. Our world is generating more value from its energy use through energy efficiency gains. Lately, progress has been slowing. The demand for equipment insulation is growing worldwide. Read our Stories.
We are insulating the future.
ADDRESSING GLOBAL REQUIREMENTS.
INNOVATING THE PRESENT. ADDRESSING GLOBAL REQUIREMENTS.
In line with our pioneering spirit, Armacell’s R&D efforts are directed at developing innovative solutions and improving certified products. Continuous R&D investment ensures Armacell’s market leadership. 500 patents across 60 patent families document Armacell’s innovative strength.
We are committed to addressing global requirements – now and in future.
LETTER FROM THE CEO
DEAR FRIENDS OF THE COMPANY,
INVESTING IN YOUR FUTURE is the theme of this annual report and reflects our innovative and sustainable response to global megatrends such as urbanisation, globalisation of the food supply cold chain, acoustic comfort and vibration control, lightweighting and, above all, energy efficiency. As a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, we offer much-needed solutions to the challenges associated with these megatrends. Read the whole letter from the CEO.
At Armacell we focus on creating sustainable value for our highly diversified global customer base. Our vision is to be the global leader in providing innovative, technical insulation solutions and components to conserve energy and make a difference around the world. We have a long track record of growth, superior profitability and cash generation orchestrated by a proven management team who have positioned Armacell to be recognised as the trusted partner in the energy conservation market. Discover more.
OUR PEOPLE. EMPLOYEES FIRST.
At Armacell we put our employees first. We motivate them, develop their talents and further their skills through a multitude of customised training opportunities. As a company we nurture a positive working environment. We encourage our employees to cultivate a climate of mutual respect, trust and reliability in which they can perform to the best of their ability to drive our company forward.
HEALTH, SAFETY AND OUR ENVIRONEMNT
HEALTH, SAFETY AND OUR ENVIRONMENT
Our insulation solutions play a key role in protecting equipment against energy losses in millions of applications worldwide. In environmental matters we are making good progress.
In view of the fact that 40% of global energy is consumed in buildings, we are proactive members of the European Alliance of Companies for Energy Efficiency in Buildings (EuroACE) and Renovate Europe, an EU-wide campaign to achieve 80% reduction in the EU building stock’s energy demand by 2050.
Armacell serves customers in more than a hundred countries. This global footprint provides us with a worldwide responsibility to the communities we operate in. That is why we support a wide variety of citizenship projects in local communities. The social dimension of our corporate responsibility enables Armacell employees to make a difference in societies around the world.
FINANCIAL RESULTS 2017
FINANCIAL RESULTS 2017
- Net sales 2017 increased by 8%
- 2017 adjusted EBITDA up by 2%, EBITDA margin today: 17%
- The integration of acquired businesses is on track
- Expansion of the Group’s market position across all regions, confirming position as technology leader
- Diversified global presence as a multi-materials and multi-product company
- Investor confidence in our business model drove a significant reduction of interest cost of our outstanding debt during refinancing
- Improved free cash flow and financial strength