Annual report 2019

With a strong performance on our three strategic priorities, 2019 was a remarkable year: outstanding financial results, increased unity, alignment and focus, and engaging initiatives to boost individual as well as collective achievement of our teams. Inspiring ways of living through lightweight solutions with an agile approach and a united team is our way forward.


“In 2019, we have delivered on all of our strategic priorities"
Through relentless strategic execution and group-wide commitment to our three-pillar agenda, Etex made significant strides forward in 2019 toward its ambition: to establish ourselves as a lightweight construction specialist in order to meet global challenges and be a key player in the transformation of the construction industry.

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Advancing on our three pillar agenda

The future success of our company hinges on three priorities: profitable growth, operational performance and engaged people. All of our concrete strategic initiatives and decisions are both driven and enabled by this three-pillar agenda, which requires the dedication of every single Etex colleague around the world.

We recorded remarkable financial results in 2019 as a group, with mixed divisional results adding up to record top-line growth.

Increasing unity, alignment, agility and focus created the path to launch New Ways, our newest division which embodies our ambition to lead in dry and modular construction. Our One Etex movement recorded several milestones and we kept giving highest priority to safety and to building a sustainable, socially responsible organisation.

We introduced the Etex Awards with three levels of recognition for outstanding performance of individuals and of teams. Acting on our sense of purpose we built a partnership with a housing initiative in Latin America and we organized the second edition of our Etex Explorer programme to shape and develop emerging talent.



Our Divisions

Our Divisions

Our five divisions are our connection to the market: they put inspiring ways of living into practice. Building performance, our largest division, recorded a significant growth. Residential roofing and Industry recorded growth as well, while Exteriors was impacted by a sales reduction in a year of transition.

Building performance
Led by Neil Ash since January 2020, Building Performance is Etex’s largest division. France, Germany and the UK are its largest markets, and it continues to pioneer dry construction in Latin America. We asked Neil to share his insights on the division’s performance in 2019 and his vision of the future.
“We promised an outstanding performance in 2019, and we delivered.”



Created on 1 January 2019, the Exteriors division is led by Michael Fenlon and is active on a global scale. This division combines the fibre cement exteriors activities of the former Roofing and Facade divisions, in line with Etex’s focussed strategic plan. Michael tells us more about the division’s challenging debut year.

“We’re looking at a challenging present, but a very promising future.”



Residential Roofing

The Residential Roofing division was defined on 1 January 2019 and gathers the group’s clay and concrete tile roofing activities (as well as components and accessories). In 2019 it focussed on its performance while delivering on the divestment strategy in place to enable the smoothest, most streamlined transition possible. Paul Van Oyen, CEO of Etex and Interim Head of the Residential Roofing division until October 2019, tells us more about the past, present and future of the business.

“We made targeted divestments and focussed on commercial and operational performance.”



Since 2016, the Industry division has pioneered in the domains of structural fire protection and high performance insulation in thermal process industries, construction, transportation, energy and beyond. Head of Division Steven Heytens describes the 2019 performance of this globally active division, highlighting its robust progress along its sustainable growth trajectory.

"Sales and profitability kept rising in 2019 - we’re right on track.”

New ways

Launched at the beginning of 2020, New Ways is the fifth division of Etex. It embodies our ambition to be a key player in the transformation of the construction industry. We believe that the emerging market for offsite lightweight and modular building solutions can fulfil many global needs. Specialised in these technologies, New Ways will bring high-quality, beautiful and affordable living spaces to people around the world. We invited the Head of New Ways, Cristian Montes, to tell us more about the mindset, mission and objectives of the division.

“Our mandate is to build this new business with a pioneering mindset, as it is something different, challenging and new.”

Annual Report 2019

Annual Report 2019

Discover 4 interactive video stories told by Etex customers and business partners.
Swiftly navigate through the case stories of your choice.

Building Performance
A Chilean housing developer building high-quality homes for low-income familieswith hi-tech Etex lightweight solutions.

Two British architects on building the Bristol Business School, inspired by the right cladding solution.

Residential Roofing
A CEO from an expanding German construction firm on a fruitful collaboration with the Etex roofing solutions team.

A Dutch engineer developing extremely reliable car brakes with Etex insulation technology.


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