European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank10

Belgium · Basic Materials

Campine

Campine recovers metals and is a producer of antimony trioxide and flame-retardant masterbatches.

+141%revenue growth
FY2022–FY2025
+258%net-income growth
FY2022–FY2025
+409%stock return
FY2022–FY2025
+3%2026 stock return
current context only

Company profile

From discarded batteries to metals, chemicals and engineered plastics

Campine is a Belgian industrial group that links battery recycling, metals recovery, antimony chemistry and recycled polypropylene. Its two divisions, Circular Metals and Specialty Chemicals, share recovered materials and technical know-how across six manufacturing sites in Belgium and France. The result is an unusual chain that can move from waste batteries and complex residues to lead alloys, antimony trioxide, flame-retardant formulations and engineered rPP compounds.

Circular metals

Recover the battery, then refine each useful fraction

Campine says its circular-metals system keeps more than 10 million lead-acid batteries from landfill each year. Batteries are separated into lead, plastics and other fractions; Beerse refines lead into pure metal or customer-specified alloys, while metals recovery extracts antimony, tin and precious-metal-bearing material. The 2025 French acquisition also added lead anodes and other customised semi-finished products.

Antimony chemistry

Put fire-safety chemistry inside everyday products

Campine reports 18,000 tonnes of annual antimony trioxide capacity and says roughly 15% of its antimony supply comes from proprietary recycling, using up to 90% less energy than primary production. The chemistry appears in fire-safety systems for textiles, vehicles, construction and electrical products, as well as PET catalyst and pigments. Customers can buy powders, dust-reducing packs, dispersions or polymer masterbatches.

Recycled polypropylene

Engineer new compounds from bumpers and battery cases

Campine recycled Polymers, a French subsidiary added with selected Recylex assets in 2022, turns bumpers, battery cases, bottle caps and production scrap into engineered rPP. Feedstock is analysed, sorted, shredded, extruded at 260 degrees Celsius and compounded into more than 70 grades for automotive, construction, horticulture, packaging and industrial equipment. The operation dates to 1988 and introduced recycled polypropylene to automotive applications in 1994.

Industrial footprint

Connect six plants across Belgium and France

At 31 December 2025 the group reported six manufacturing sites: Beerse in Belgium and Arnas, Escaudoeuvres, Bazoches-les-Gallerandes, Pont-Sainte-Maxence and Estrées-Saint-Denis in France. The September 2025 transaction added two battery-recycling plants and one downstream lead-products plant, with more than 70,000 tonnes of battery-shredding capacity. It excluded lithium-ion collection and sales or distribution of new lead-acid batteries. The Beerse site's industrial roots reach back to 1899.

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202510+141%+258%+409%