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Annual reports

2023 was a year of very solid performance on track with our growth and sustainability goals.

Annual report 2023

Discover our second combined annual report. It is another step towards an integrated report, putting our economic, social and environmental footprint and performance on an equal footing. It describes our value chain and how our strategic drivers help us to make a positive impact.

download.svg  Download the full Annual Report 2023 in English

Discover our videos on "Sustainable solutions. For you."

Building Performance

Building Performance

Industry

Industry

New Ways

New Ways

Insulation

Insulation
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Etex in 2023
Etex in 2023
Etex in 2023

A year of strength

2023 was a year of very solid performance on track with our growth and sustainability goals. We reinforced our innovative and sustainable offering via promising acquisitions in four of our five platforms. We also set strong foundations for the long-term sustainable transformation of our business. Our focus on sustainability yielded yet again great results. 

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About Etex
About Etex
About Etex

Who we are

We are an innovative and sustainable building materials company, pioneer in lightweight construction. We are 13,500 teammates operating on more than 160 sites and 7 Innovation Technology Centres (ITC) in 45 countries globally.

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Strategy
Strategy
Strategy

How we create value

We inspire ways of living, as we enable people to build living spaces that are ever safer, more sustainable, smart, and beautiful. We evolve continuously by remaining close to our customers. We create sustainable, circular solutions in lightweight construction, lowering our own and our partners’ value chain footprints.

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Activity report
Activity report
Activity report

How we performed

Our five divisions experienced different levels of success and performance in 2023. While it was a challenging year marked by volatility, uncertainty and severe drops in demand across the world, three of our divisions recorded revenue growth. 

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Governance
Governance
Governance

How we manage

Etex is committed to the principles of corporate governance and employs a sound approach to managing and steering the company in line with our strategic drivers and the best interests of our internal and external stakeholders. For us, governance is intrinsic to achieving superior performance.

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Financial report
Financial report
Financial report

How we delivered

A record revenue of EUR 3,808 million, a record REBITDA of EUR 712 million and a net recurring profit (Group share) of EUR 278 million for 2023 illustrate Etex’ responsive approach continuing on a growth path despite a volatile environment.

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GRI content index
GRI content index
GRI content index

How we report on sustainability

Etex’s achievements in 2023 demonstrate that the company is making significant progress towards its 2030 sustainability ambitions. The GRI (Global Reporting Initiative) content index indicates our alignment with the GRI Standards - aimed at advancing the practice of sustainability reporting - for the general disclosures and our material topic areas.

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Message to stakeholders
Message to stakeholders
Message to stakeholders

"Etex was able to remain impactful. Addressing both an energy crisis and cost increases has led us to make step changes in the way we do business, setting the stage for further acceleration in sustainability and growth in financials in the years to come."

Johan Van Biesbroeck, Chairman of the Board of Directors

"Our local teams, across our commercial brands and technologies, have responded very well, by delivering excellent results in a challenging environment."

Bernard Delvaux, CEO

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Financial KPI's
Financial KPI's

Full-Year results 2023

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Revenue

(in EUR million)

 


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Recurring operating

cash flow (REBITDA)

(in EUR million)

 

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Net recurring profit
(Group share)

(in EUR million)

 

Non-financial results 2023
Non-financial results 2023

Six sustainability sections

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Health, Safety and Well-being

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Diversity, Equity and Inclusion

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Customer engagement

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Circularity

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Decarbonisation

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Water and Biodiversity