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Inspiring
Our purpose drives our strategy and our values, our approach towards sustainability and safety, and it is embedded in our history. Discover inspiring ways of living.
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Ways
We offer futureproof lightweight interior and exterior building solutions including fire protection and high performance insulation. Discover the role we play.
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of Living
We foster a safe working environment for teammates, keep a low ecological footprint, improve living conditions for all and deliver ever better results. Discover the value we bring for our stakeholders.
Full-Year Results 2023
Despite a challenging market context, Etex achieved new record operational performances while accelerating on its sustainability ambitions. Find out about our 2023 full-year results in our CEO's video and the text below.
Our contribution to the world
Etex inspires the world to build safe, sustainable, smart and beautiful living spaces with a wide spectrum of lightweight solutions. From innovative modular systems to leading fibre cement and plasterboard systems. From applications for cladding, façade, roofing and terrace to high-performance fire protection and insulation for construction and OEM applications.
45
Operating Countries
3.808
billion EUR revenue (2023)
160
Sites
One Etex
Strong brands for strong solutions all over the world
Our leading global commercial brands
Discover Etex
This short video shows you what Etex is about: inspiring teammates tackling our world’s biggest challenges by building ever better living spaces with lightweight solutions.
References
NATO Headquarters, Belgium
In 1999, the first plans were laid to build a new headquarters for NATO – the North Atlantic Treaty Organisation. The purpose? To face the challenges of the 21st century head on.
Milan Expo 2015, Italy
At Milan Expo 2015, some 140 countries gathered to highlight their best technologies. So did Etex company Siniat Italy, supplying innovative materials for the construction of 19 pavilions.
Aachen, Germany
The Central Auditorium for Research and Learning or C.A.R.L. Auditorium, is the newest addition to RWTH Aachen University (Rheinisch-Westfälische Technische Hochschule) in Germany.
Renwu Lake International Car Camp (Tibet)
Along the Sichuan-Tibet highway, one of the most beautiful highways in China, is the Tibet Renwu Lake International Car Camp.
Floating houses, Netherlands
Just outside Warande in the Netherlands, lies a floating community of eight residential houses called the ‘Drijf in Lelystad’ (Float in Lelystad).
Zero-energy revamp, Belgium
In Belgium, Leen Peeters aimed to turn a traditional cottage into a modern, yet authentic family home that requires virtually no non-renewable energy for heating. In other words: a nearly zero-energy building.
Bombardier regional trains, France
A compact Etex design for more commuting comfort and safety in France.
Corinthians Arena, Brazil
Brazil was determined to have the most modern football arenas in the world to host the 2014 FIFA World Cup. In the construction of the brand-new Corinthians Arena (São Paulo) in 2011, the use of low waste generation building materials was high up on the agenda. Etex’s plasterboards (in total 40,000 m²) met all the requirements. Today, more than 61,000 spectators can enjoy their great acoustic insulation, lasting resistance against the spread of flames and undeniable aesthetic value. Gypsum Drywall’s FGE Ceiling plasterboards have contributed to this project’s success.
Teammate stories
Through our ‘Teammates of Etex’ initiative, we collected 161 inspiring stories from our colleagues around the world. We share these stories with all Etex teammates - in different languages - to create a sense of pride across our international teams at Etex. We want everyone to inspire one another, no matter their background. Remember: we aspire to inspire.
Discover the stories
News
Etex resists to a challenging market context and delivers strong and improving 2023 results, preparing for further growth
3/7/2024
Even more so than 2022, 2023 was a challenging year marked by volatility, uncertainty, and severe drops in demand across the world as we observed the continued impacts of increased energy prices and interest rates. Combined with tougher financing possibilities by banks, all these circumstances meant that both renovation and new construction levels dropped globally. Devaluation of some foreign currencies and hyperinflation accounting also had significant effects on our results. Despite all these challenges, I am extremely proud to share that Etex navigated these difficult waters very well and delivered yet again another record year. This includes our highest ever revenue and REBITDA, among others.
Etex completes the acquisition of BGC’s plasterboard and fibre cement businesses to expand its sustainable offering in Australia and New Zealand
3/1/2024
Etex, the Belgium-based global building materials manufacturer and pioneer in lightweight construction, has closed the acquisition of Australian construction materials company BGC’s plasterboard and fibre cement businesses. Through this deal, Etex expands its sustainable activities in the attractive Australian and New Zealand markets, with significant growth opportunities.
Etex complements its architectural design capabilities with the acquisition of fibre cement innovator SCALAMID
12/21/2023
Etex, the global building material manufacturer and pioneer in lightweight construction, has taken a significant step to further enhance architectural design with the acquisition of SCALAMID, a manufacturer of fibre cement panels featuring cutting-edge digital printing and coating technology. This strategic move offers new possibilities for customers’ design and reinforces Etex's commitment to advancing innovation in the lightweight construction industry.
Etex reinforces its position in Australia by acquiring BGC’s plasterboard and fibre cement businesses
10/12/2023
Etex, the Belgium-based global building materials manufacturer and pioneer in lightweight construction, has signed an agreement with the Australian construction materials company BGC to acquire its plasterboard and fibre cement businesses. With this deal, Etex expands its activities in the attractive Australian market, with significant growth opportunities. The acquisition is subject to customary closing conditions, with finalisation expected in early 2024.
Etex continues on growth path despite volatile environment Etex 2023 Half-Year Results
9/4/2023
In the first half of 2023, Etex coped with an overall slowdown of the construction sector – both in new build and renovation – triggered by several elements leading to high volatility and uncertainty such as inflation that puts pressure on consumers’ buying power, higher interest rates and more restricted loan policies by banks. However, Etex managed to record improved sales compared to the first half of 2022 through swift adaptations to challenging market contexts and cost-to-price monitoring. While our volumes are slightly impacted, margins remain strong.
Etex completes the acquisition of speciality insulation expert Skamol and broadens its sustainable offering
5/9/2023
Today marks an important milestone for Etex, the lightweight construction pioneer. The company closed the acquisition of Skamol, a manufacturer of fire protection and specialty insulation materials. This new acquisition further consolidates Etex’s portfolio of sustainable solutions in a market that is strongly supported by the need for energy efficient insulation products and solutions. Skamol and Etex - through its passive fire protection and high-performance insulation business - are complimentary in terms of products and geographies, allowing the combined organisations to broaden their offering in high-temperature insulation for building and industrial applications.
Annual and Extraordinary Shareholders’ Meetings 24 May 2023
5/3/2023
The Annual and Extraordinary Shareholders’ meetings of Etex NV will be held on Wednesday 24 May 2023 at 15:00 CEST at the registered office of the Company, PassPort Building, Luchthaven Brussel Nationaal, Gebouw 1K, 1930 Zaventem or at such other place indicated at that place at that time.
Etex’s sustainable answers to urgent challenges in 2022
4/6/2023
Etex Annual Report 2022 – First-ever combined report
Etex, the global building material manufacturer and pioneer in lightweight construction, released its first-ever combined annual report. In this report, the company presents on an equal footing its economic, social and environmental footprint and performance. The document highlights how Etex brought sustainable answers to the urgent challenges of 2022. Sustainability milestones include a decrease of almost 20% of absolute CO₂ emissions (scopes 1 and 2) and 26.5% less waste sent to landfill in the past five years.
Etex strengthens its sustainable offering by acquiring high temperature insulation expert Skamol
3/23/2023
Etex, the lightweight construction pioneer, is acquiring Skamol, a manufacturer of high temperature insulation materials. This acquisition further consolidates Etex’s portfolio of sustainable solutions in a market that is strongly supported by the need for energy efficient insulation products and solutions. Skamol and Etex - through its passive fire protection and high-performance insulation business - are complimentary in terms of products and geographies, allowing the combined organisations to broaden their offering in high-temperature insulation for building and industrial applications. This acquisition is subject to customary closing conditions.
Etex's sustainable lightweight solutions drive very strong 2022 financial performance
3/9/2023
For the fifth year in a row, Etex achieved new record performance across the board, including in revenue, REBITDA and net recurring profit while setting another major milestone with its Road to Sustainability 2030 commitments
2022 Half-Year Results
9/2/2022
In the first half of 2022, like many other industrial players, Etex had to cope with significant raw material and energy price inflation in the context of post-COVID disruptions and volatility and the war between Russia and Ukraine. To face this situation, we had to implement a number of price increases. Our volumes and margins have been impacted, but these measures allowed us to achieve a positive evolution of both top line and bottom line.
Etex successfully issues a EUR 800 million ESG-linked Schuldschein loan
6/8/2022
Etex has successfully finalised its third Schuldschein issue, raising EUR 800 million. It is Etex’s first environmental, social and governance-linked Schuldschein issue and it represents the largest-ever ESG-linked Schuldschein issue by a non-German speaking company. A Schuldschein is a privately-placed, medium to long-term unsecured debt governed by German law¹. The placement comprises three euro-denominated tranches with maturities of 3, 5 and 7 years, at fixed and floating rates.
Etex continues its portfolio shift towards lightweight and sustainable building solutions by completing the acquisition of insulation expert URSA
6/1/2022
Today marks a major milestone for Etex, as it secures a fifth technology in its business growth strategy. By adding URSA’s insulation expertise to Etex’s portfolio of technologies, Etex enhances its ability to provide products and solutions to meet the building challenges of today and tomorrow. Announced in January 2022, the deal has successfully been completed after meeting the customary closing conditions.
Annual and Extraordinary Shareholders’ Meetings 2022
5/4/2022
The Annual and Extraordinary Shareholders’ meetings of Etex will be held on Wednesday 25 May 2022 at 15:00 CEST at the registered office of the company, PassPort Building, Luchthaven Brussel Nationaal, Gebouw 1K, 1930 Zaventem or at such other place indicated at that place at that time.
2021 Full-Year Results and Annual Report
4/4/2022
In 2021, and for the fourth year in a row, I am pleased to report that Etex delivered significant growth. The company reached record results in revenue, REBITDA, REBITDA margin and net recurring profit, while the level of free cash flow generation reached new heights compared to 2019 – 2020 being an “abnormal year” due to the COVID-19 pandemic. These outstanding results can be attributed to a number of factors: a booming demand (especially in the home repair and renovation segment); increased margins thanks to cost-to-price monitoring and increased efficiency in manufacturing activities; and the positive impact of the savings initiatives launched in 2020. More importantly, the results tell us that people still dream about a better place to live, inspired by Etex.
Etex confirms its portfolio shift towards lightweight and sustainable building solutions by acquiring thermal and acoustic insulation expert URSA
1/11/2022
The new year sees Etex consolidate its portfolio of sustainable business activities through the acquisition of URSA, a European leader in insulation solutions. Etex secures a new business growth platform through the deal, alongside an opportunity to continue playing a pivotal role in addressing sustainability challenges. By adding insulation expertise to its plasterboard, fibre-cement, passive fire protection and modular offering, Etex will also extend its ability to provide systems and solutions. This latest acquisition is subject to customary closing conditions.
Building sustainable houses within a few days to donate them to families affected by the floods: challenge met by Etex
12/21/2021
To help several families affected by last summer’s floods in Belgium, five high-quality, sustainable houses built in two weeks are being donated by the Belgian company Etex. Installed in Rochefort and Pepinster, this new type of modular construction is expected to expand in the future to meet needs and new trends in the housing sector. Walloon Minister for Housing Christophe Collignon welcomes this approach.
2021 Half-Year Results
8/27/2021
Like-for-like, our top-line increased with 27%, while our REBITDA reached a 60% increase and our net recurring profit (Group share) more than doubled last year’s result. Reporting our results not only year-on-year, but also compared with H1 2019, allows readers to analyse the performance in the light of the last “normal” year we have experienced.
Etex acquires UK light gauge steel framing market leader Sigmat, reiterating Etex’s ambition to become a global leader in offsite construction
8/4/2021
Committed to its strategy to become a global leader in offsite construction, Etex announces the acquisition of Sigmat, a UK market leader in light gauge steel framing (LGSF). This new acquisition complements the purchases of Irish design and engineering consultancy firm Evolusion Innovation and Irish LGSF player Horizon Offsite. These acquisitions, together with Etex’s existing businesses in the UK, put us in a strong position to benefit from the growing market for offsite construction in the UK and Ireland.
Etex acquires Irish steel framing company Horizon Offsite, allowing new growth in its industrialised construction activities in Ireland and the UK
7/5/2021
Delivering further on its strategy to lead in offsite construction methods worldwide, building solutions innovator Etex announces the acquisition of Horizon Offsite, headquartered in Ireland. This acquisition follows closely on the group’s purchase of Irish technical consultancy company Evolusion Innovation, and boosts Etex’s ability to deliver offsite building solutions in Ireland and the UK, helping the company’s European modular ambitions.
Etex puts the well-being of its 11,000 employees at the heart of its post-COVID strategy
6/28/2021
Etex, the international building material manufacturer, has rolled out a well-being challenge across its offices in 42 countries around the world. As diversity and inclusion are important to Etex, the company teamed up with Oopla to ensure all its 11,000 employees, of all abilities, could participate to the full. The global challenge started in April and continues until July, over 3,000 employees have entered the competition and strive not only to increase their personal physical and mental well-being in a sustainable way, but also to lead their country to victory and support a local charity. This global initiative, unique in the building industry, kicks off Etex’s long-term commitment to ensure their employees’ well-being in a post-Covid world.
Succession at the head of Etex in January 2022
6/2/2021
On 1 January 2022, a new executive leader will be taking the helm of Etex. Paul Van Oyen will reach the end of his current seven-year mandate as CEO of the company at the end of this year after a dynamic and successful career of 31 years in the global building materials company, seven of which as Chief Executive Officer. Bernard Delvaux, former Chief Executive Officer of Sonaca Group, will succeed him following a transition period starting in September this year.
Annual General Shareholders’ Meeting 2021
5/5/2021
The Annual General Shareholders’ meeting of Etex will be held on Wednesday 26 May 2021 at 15:00 CEST at the registered office of the Company, PassPort Building, Luchthaven Brussel Nationaal, Gebouw 1K, 1930 Zaventem or at such other place indicated at that place at that time.
Etex contributes to COVID-19 vaccine readiness strategies by providing high-performance insulation solutions
4/27/2021
Etex, global building solutions innovator and pioneer in lightweight construction, has concluded a number of contracts active for the provision of high-performance, ultrathin insulation products used in both building applications and passively cooled containers for vaccine transport. With the latter, Etex contributes to the timely and safe distribution of COVID-19 vaccines under ideal low-temperature conditions across the world. The company forecasts over 6 million euro in sales of these products, which are manufactured at its site in Sint-Niklaas, Belgium, in 2021.
2020 Full-Year Results and Annual Report
4/6/2021
2020 was a milestone year in the face of an unprecedented global challenge. We focused on our strategic pillars, made remarkable progress in shaping the future of lightweight construction and in sustainability. In trying times, we delivered an exceptional financial performance. We set a new safety record. And people engagement among Etex teammates reached new heights.
Etex acquires a majority stake in e-Loft
1/27/2021
Zaventem, 27 January 2021 – International building materials specialist Etex announces it has acquired a majority stake in leading French offsite construction company e-Loft. The company becomes part of Etex’s New Ways division, which develops sustainable, industrialised and modular construction solutions. As such, the acquisition is a key milestone on Etex’s strategic roadmap and an enabler of our ambition to shape the future of construction by “inspiring ways of living”.
Etex acquires Knauf’s plasterboard business in Australia
11/24/2020
Zaventem, 24 November 2020 – Etex announces it has signed an agreement with Knauf to acquire its plasterboard business in Australia. With this move, Etex expands its footprint on the attractive Australian construction market with significant growth opportunities. The acquisition is subject to customary closing conditions, with finalisation expected early 2021.
Etex finalises its strategic shift to become a global leader in lightweight building solutions with the divestment of Creaton
10/22/2020
Zaventem, 22 October 2020 – Terreal, a French pioneer in roofing and innovative solutions for the building envelope, has signed a definitive agreement with Etex to acquire its clay roof tile business Creaton. This divestment marks Etex’s complete exit from the clay and concrete roof tiles business. As a result, Etex sharpens its strategic focus on becoming a global leader in lightweight building solutions. The sale of Creaton is subject to customary closing conditions, and is expected to be finalised in the first quarter of 2021.
Special General Shareholders’ Meeting on 22 October 2020
10/1/2020
The holders of shares issued by Etex NV are informed that a Special General Shareholders’ Meeting of Etex will be held on Thursday 22 October 2020 at 15:00 CEST at the registered office of the Company, PassPort Building, Luchthaven Brussel Nationaal, Gebouw 1K, 1930 Zaventem or at such other place indicated at that place at that time.
Etex strengthens its position in passive fire protection with the acquisition of FSi Limited
9/25/2020
Etex announces it has acquired FSi Limited, a British company specialised in passive fire protection solutions with a strong focus on fire stopping. FSi operates a production facility in Measham, East Midlands, as well as a distribution centre in West Thurrock, Greater London Area.
2020 Half-Year Results: Decline in revenue with resilient REBITDA margin during COVID-19 crisis
8/31/2020
Zaventem, 31 August 2020 – In the context of the ongoing COVID-19 pandemic, Etex reports a like-for-like1 decline in revenue of 10.8% and of 8.9% in REBITDA for the first half of 2020. The REBITDA margin remains remarkably stable compared to last year at 16.7%. The net recurring profit (Group share) is down 14.2% year-on-year at comparable scope.
Etex offers digital-only 2019 annual report due to COVID-19 pandemic
6/15/2020
Zaventem, 15 June 2020 – In light of the coronavirus crisis and resulting disruption to printing businesses and logistics services, Etex has decided not to publish the company’s 2019 annual report in paper form this year.
Annual General Shareholders’ Meeting 2020 – 30/04/2020
4/30/2020
The holders of shares issued by Etex NV are informed that the Annual General Shareholders’ meeting of Etex will be held on Wednesday 27 May 2020 at 15:00 CEST behind closed doors, in accordance with the measures outlined in the Royal Decree of 9 April 2020, in the context of the ongoing COVID-19 crisis.
Etex Full-Year Results and Annual Report 2019
4/6/2020
Etex has had an outstanding year, as we have delivered record results in many ways, supported by our performance culture. While our top-line increased by 4.9% like-for-like, increased volumes, improved gross profit and contained overheads have allowed us to record a remarkable 15.6% like-for-like REBITDA increase.
Etex links the cost of its EUR 600 million sustainability linked loan to its sustainability ambitions
12/16/2019
Etex has decided to link the cost of its EUR 600 million Sustainability Linked Loan with its performance in achieving sustainability targets. This Sustainability Linked Loan – where the interest margin is linked to the borrower’s fulfilment of environmental, social and governance criteria – has been granted by a syndicate of 10 banks and supervised by independent agency Sustainalytics.
Etex-Arauco joint venture E2E has signed an agreement to acquire a majority stake in Tecverde
12/11/2019
E2E, a Chile-based joint venture founded by Etex, an international building materials specialist, and Arauco, a diversified global company active in the forestry industry, has signed a share purchase agreement to acquire a majority stake in Tecverde Engenharia, a Brazilian innovative building company specialised in wood-frame construction systems. The acquisition will enable both E2E and Tecverde to pursue their expansion plans. The completion of the deal is subject to the approval of the Brazilian Competition Authority (CADE) and other customary conditions.
New plasterboard production facility in Bristol (UK) is Etex’s largest investment ever
11/4/2019
Building materials group Etex plans to build a new plasterboard plant in Portbury close to the port of Bristol, in South West England. The capital expenditure will reach more than GBP 140 million, the largest investment of its kind in Etex history. This will be the fifth new plant since 2015. With the new Bristol facility, Etex will be ideally positioned to support the ongoing growth of the UK construction market and its customers. The plant is scheduled to be commissioned in 2022.
Half-Year Results 2019
9/2/2019
Etex reports a like-for-like growth in revenue of 6.7% and of 17.3% in REBITDA for the first half of the year. The REBITDA margin is up to 16.8% vs 15.2% at the end of June 2018 on a comparable basis1. The net recurring profit (Group share) is up 6.3% year-on-year.
Etex announces sale of its UK roofing tiles business to Inflexion Private Equity Partners LLP
8/19/2019
Etex announces sale of its UK clay and concrete roofing tiles and components business to Inflexion, a private equity company based in the UK. The transaction will be closed at the end of August.
Etex has sold its clay tile business in Portugal to roofing specialist EDILIANS
8/4/2019
Umbelino Monteiro, Etex’s Portuguese clay tile business for the past 12 years, was successfully sold to European roofing solutions provider EDILIANS on 2 August after meeting all the deal closing conditions.
Etex and Techo partner up to improve the living conditions of families in Peru
7/10/2019
Etex – an industrial group with its headquarters in Belgium that offers innovative building solutions – teamed up 45 of its workers with the NGO Techo Peru to carry out a Corporate Social Responsibility (CSR) project. The aim was to construct modular homes for families in the district of Ventanilla, located in the northwest of Lima.
Two divestments in Residential Roofing division
7/10/2020
Zaventem, 10 July 2020 – Etex announces the divestments of Marley (SA) (Pty) Ltd to Kutana Investment Group, as well as its 50% stake in RBB NV (Belgium) to BMI Group.
Jo Van Biesbroeck appointed Vice President of the Etex Board of Directors
12/11/2020
After a diligent selection procedure, the Board of Directors of Etex has followed the advice of the Remuneration and Nomination Committee to nominate Jo Van Biesbroeck as the successor of Jean-Louis de Cartier as Chairman of the Board of Directors. The succession would be effective immediately after the proposed renewal of Jo’s Director’s mandate at the general shareholders’ meeting on 26 May 2021. To enable a smooth transition, between now and the general shareholders’ meeting, Jo Van Biesbroeck will serve as Vice-President of the Board of Directors.
Etex acquires a majority stake in offsite design and engineering consultancy company Evolusion Innovation
4/20/2021
To strengthen its knowledge base in industrialised offsite construction, global building solutions provider Etex has acquired Ireland-based company Evolusion Innovation, an international multi-disciplinary engineering consultancy. In incorporating this business into its New Ways division, Etex achieves strategic synergies between modular construction expertise and local building capacity, while giving Evolusion Innovation a global footprint. The acquisition is yet another step in the execution of Etex’s ambition to become a leader in offsite construction.