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To face our world’s critical needs for sustainable and qualitative living spaces, global building material manufacturer and pioneer in lightweight construction Etex further pledges to be an agent of change in the sustainable building sector. Next to its intrinsically sustainable portfolio, Etex is doing more by setting clear ambitions for the next eight years across five priority areas: health, safety and well-being; decarbonisation; circularity; diversity, equity, and inclusion; and customer engagement.

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 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.

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.

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.

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.

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.