2022 saw sales increase at Eurocell, the manufacturer, recycler and distributor of window, door and roofline PVC products, though weaker markets are expected in 2023.
According to an update for the year ended 31 December 2022, group sales were £384 million, up 12% compared to 2021. The firm said that price was the key driver of sales growth.
The company noted that following a strong first six months of the year, new build, large contract and RMI project work continued to be robust throughout the second half of 2022. This was offset, however, by the impact of a cyber incident and a slowdown in smaller discretionary RMI work experienced by Eurocell’s branch network and trade fabricators in H2.
After a period of very strong demand, the Alfreton-based business believes the market is now returning to pre-pandemic norms.
In anticipation of weaker markets in 2023, Eurocell completed a restructuring programme in Q4 2022, which along with other cost saving measures, will reduce operating costs by approximately £5 million per annum from the start of 2023.
The firm also intends to temporarily pause its branch opening programme until the economic outlook is clearer.
