February
Engaged People
Etex provided support to Ukrainian teammates and families as soon as the conflict started, with help from teammates. Etex continues to support them and is dedicated to rebuilding in Ukraine as soon as possible.
Annual Report 2022
2022 was an exceptional year in many ways. Despite an unfavourable business context, Etex posted record financial results and delivered on our four drivers of Engaged people, Operational excellence, Customer experience and Commercial excellence and Sustainability and Innovation. Our purpose, “Inspiring ways of living” is alive more than ever. In a nutshell Etex brought sustainable answers to the urgent challenges of 2022. We are proud to present to you the full story of Etex in 2022.
Sustainable answers
to urgent challenges
We believe urgent challenges need short-term and long-term solutions. In 2022, among different achievements, we supported our Ukrainian teammates and their families, maintained an engaged team, nurtured partnerships with our customers, significantly advanced on sustainability and successfully integrated our new insulation business.
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2022 MILESTONES
April
Commercial Excellence
Etex launched its new strategic framework, which is based on its five core technologies and four key drivers. This framework aims to secure the company’s sustained future and success. The framework will serve as the basis for future plans and steer decision-making and investments.
April
May
Operational Excellence
We launched the Factory of Tomorrow to enhance work environments in plants and create value across the organisation. Our focus is on EHS, people engagement and leadership, customer centricity and cost leadership.
May
June
Commercial Excellence and Engaged People
Etex completed the acquisition of URSA, furthering its sustainable lightweight solutions. With URSA’s insulation expertise, Etex is better equipped to provide innovative solutions to address current and future building challenges. Furthermore, we celebrated townhalls and welcomed
over 1,700 new teammates.
June
July
Commercial Excellence
We faced significant challenges during the first half of the year, with a 15-fold increase in energy prices and rising raw material costs. To remain competitive, we reviewed product costs and successfully managed pricing. Despite the difficulties, we worked closely with our supply chain to meet our customers’ changing demands. Two new members join the Executive Committee: Jochen Friedrichs as Head of Division Insulation in June, and Tanguy Vanderborght as Head of Division Industry in July.
July
September
Sustainability and Innovation
Etex is actively addressing the global challenges we face and has launched its Road to Sustainability 2030: a set of priorities to serve our customers and create a healthy planet and society. These priorities will ensure a sustainable future where our teammates, their families and communities can thrive alongside Etex.
September
October
Engaged People
Our latest Me & Etex survey saw a high level of participation, indicating we had an engaged workforce in 2022. The survey demonstrated our teammates’ resilience despite two challenging years of COVID.
October
December
Operational Excellence
We have invested a record EUR 302 million in our factories to ensure their maintenance, enhance production capacity and improve sustainability measures, including energy consumption, circularity and safety.
December
March 2023
Commercial Excellence
We acquired high temperature insulation expert Skamol. This acquisition is subject to customary closing conditions.
April 2023
Sustainability and Innovation
Our Environmental, Social and Governance (ESG) rating improved for the fifth time in a row, placing us among the top ten companies in the Building Products category and reflecting our strong commitment to ESG standards and our commitment as signatory of the UN Global Compact.
April 2023
April 2023
Commercial Excellence
Jochen Friedrichs becomes the Head of Division Building Performance, remaining Head of Division Insulation ad interim until a successor is appointed.
April 2023
Activity report
Five divisions connect Etex to its global markets: Building Performance, Exteriors, Insulation, Industry and New Ways. All five aim at leadership within carefully targeted business segments. Each customer group is serviced with specific solutions: a select portfolio of commercial brands.
Building Performance
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Leader in plasterboards and fibre cement boards, and the global reference in fire protection solutions for the residential and commercial segments.
Discover more about:
- Interview with Head of division Jochen Friedrichs
- 2022 Performance
- Inspiring story: ‘Responding to a volatile environment’
Revenue of Building Performance (in EUR million)
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Exteriors
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Provider of innovative, durable, high performance and beautiful fibre cement exterior materials for architectural, residential and agricultural projects.
Discover more about:
- Interview with Head of division Michael Fenlon
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2022 Performance
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Inspiring story: ‘Sustainability seal of approval’
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Insulation
Leading European insulation provider of glass mineral wool and extruded polystyrene (XPS) to insulate residential and non-residential buildings.
Discover more about:
- Interview with ad interim Head of division Jochen Friedrichs
- 2022 Performance
- Inspiring story: ‘Etex warmly welcomes URSA’
Revenue of Insulation (in EUR million)
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Industry
Front runner of engineering expertise to drive the future of high performance temperature insulation and fire protection in the industrial, aerospace and energy sectors.
Discover more about:
- Interview with Head of division Tanguy Vanderborght
- 2022 Performance
- Inspiring story: ‘A purposeful year’
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New Ways
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High-tech, lightweight, factory-assembled panel and modular building solutions based on timber and steel framing.
Discover more about:
- Interview with Head of division Patrick Balemans
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2022 Performance
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Inspiring story: ‘Partnering for mutual benefit’
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