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For over a year now Etex and the construction sector have faced challenging market conditions characterised by a sustained decline in new build and renovation activities across most regions, resulting in a drop in volumes. Nevertheless, we delivered a resilient performance with stable REBITDA margins in the first half of 2024, in line with our anticipations and targets for the period.

The Annual Shareholders’ meeting of Etex NV will be held on Wednesday 22 May 2024 at 15:00 CEST at the registered office of the Company, PassPort Building, Luchthaven Brussel Nationaal, Gebouw 1K, 1930 Zaventem.

In 2023, Etex - the global building material manufacturer and pioneer in lightweight construction - and its strategic focus on sustainability yielded yet again promising results. These results are highlighted in the company’s latest combined annual report, presenting together its economic, social and environmental footprint and performance.

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, 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.