Belgium: Etex’s revenue rose by 16% year-on-year to Euro1.79bn in the first half of 2022 from Euro1.46bn in the same period in 2021 on a like-for-like basis. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 20% to Euro319m from Euro266m.
Bernard Delvaux, the chief executive officer of Etex said, “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-19 disruptions, 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.”
The company’s Building Performance division reported slightly lower gypsum wallboard sales volumes despite delivering a 16% increase in revenue to Euro1.23bn. The group also created an Insulation division in May 2022 following the completion of its acquisition of URSA.
