Annual Report 2020

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.

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Caring makes it work

In the context of the COVID-19 pandemic, Etex proved its resilience through connecting and caring. Etex teammates united as one global force behind our purpose ‘Inspiring ways of living’. We accelerated strategy execution, focussed on lightweight and modular building technologies, and delivered a strong financial performance in crisis mode. In this short video, six teammates testify on key topics that allowed Etex to outperform expectations in a challenging year.


Message to shareholders

However challenging, 2020 proved to be a milestone year. We focused on accelerating delivery of our six strategic pillars. With swift measures we weathered the storm, grew the trust of our stakeholders and contained the negative effects of the pandemic, all while paving the way for future growth.
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Message from the CFO

The COVID-19 pandemic impacted Etex’s revenue in 2020, with a like-for-like decrease of 3.1%. Nonetheless, the company recorded a like-for-like REBITDA increase of +10.9%, its net recurring profit (Group share) was up by 15.1%, and its net financial debt was drastically reduced.
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Milestones of 2020



Four sales divisions connect Etex to its global markets. All four aim at leadership within carefully targeted business segments. Each customer group is serviced with specific solutions: a select portfolio of commercial brands.

Building Performance

Our Building Performance division enforces its leading position in plasterboard and fibre cement boards. Etex is the global reference in fire protection solutions and dry construction systems for the residential and commercial markets.
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This division offers the best of our knowledge and performance in fibre cement exterior solutions for design architects, homeowners and installers to build beautiful homes without compromising on quality. For entrepreneurial farmers, we are the partner by excellence to safeguard the future.
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Through our Industry division, Etex is the front runner of engineering expertise to drive the future of high performance thermal and acoustic insulation, of fire protection in construction and the OEM industry.
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New Ways

Our newest division confirms our lightweight construction ambition and strategy. Through high-tech offsite solutions built in a fully digital environment, we deliver innovative ways of building living spaces.
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The pandemic did not deter us from stepping up our commitment to safety, people well-being and sustainability.


During this unusual year, Etex made great
strides in its health and safety engagement, standards animation efforts, and its risk management approach.


Emissions, water use and the circular economy are key environmental topics for us, which we address through data-driven decision-making, increased reliance on renewable energy and further emission reduction measures.


COVID-19 forced us to adapt to collaborating in a new reality. In the face of this challenge, we achieved a number of truly admirable milestones that pave the way for a more agile, engaged and empowered future.

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Ontvang als eerste het nieuws

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