Gypsum industry news

Belgium: Etex says that its financial performance over the first half of 2025 showed ‘significant resilience’ in a construction environment still largely depressed and marked by unpredictability. Compared to the first half of 2024, the company posted stable sales volumes, sustained healthy margins and achieved improved operational performance. The results were consistent with Etex’s expectations for the period.

Etex’s revenues for the six month period came to €1.93bn, a 0.2% decline compared to the same period of 2024. On a like-for-like basis, sales increased by 1.5%. The group’s recurring earnings before interest, tax, depreciation and amortisation amounted to €353m, a 6.4% fall compared to the first half of 2024. Its net recurring profit fell by 17.8% to €125m. The company said that this was due to the falling REBITDA combined with the impact of currency exchange on net financial charges. However, the company’s net profit for the first half rose to €115m.

Etex said that it was aiming for stable performance across all its businesses versus 2024 despite anticipated market volatility. It will continue to invest in manufacturing facilities, to progress in sustainability efforts, to actively pursue strategic opportunities and to implement the cost reduction programmes launched in 2024.

Bernard Delvaux, CEO of Etex, said “Our first-half results are in line with our forecasts, despite a market recovery that is taking longer than anticipated. While some geographies remain challenging, we are seeing encouraging performance in regions like Latin America and Southern Europe.”

“Compared to the first half of 2024, this year has been more demanding with further declines in demand across some important markets. However, we have made significant efforts to control costs and maintain margins, achieving notable progress in product and operational performance as well as profitability. This translates into stable revenue and sustained healthy margins.”

“As we expect momentum to gradually rebuild in 2026, we continue to prepare for future growth, including with the inauguration of our brand-new plasterboard line in Bristol, UK, in March 2025, €65m of investments in Latin America as well as innovation in our products and solutions.”

South America: Belgium-based Etex has announced planned and on-going capital expenditure (CAPEX) investments of €65.7m in its gypsum wallboard plants in South America up to 2027. This consists of a €32.5m upgrade to its Huachipa plant in Lima, Peru, a €21.4m upgrade to its Santa Rosa plant in Santiago, Chile, and a €11.8m upgrade to its La Pampa plant in General Acha, Argentina. The Huachipa plant upgrade is scheduled for completion in late 2026, the Santa Rosa plant upgrade for August 2026 and the La Pampa plant upgrade for early 2027.

CEO Bernard Delvaux said "Latin America is a key region where we have been present for 90 years, with 23 sites and close to 2300 teammates today. We are not only scaling our operations but also raising the bar in efficiency, safety and environmental performance."

France: Siniat has announced the forthcoming launch of its RECYPLAC 100% recycled gypsum wallboard in July 2025. Siniat developed the product at a pilot line at its Carpentras plant in Vaucluse and will now start to produce it at its Ottmarsheim plant in Haut-Rhin.

Siniat’s parent company Etex says that it is the European leader in the use of recycled gypsum, with some gypsum wallboard plants already producing over 35% recycled wallboard. Group recycled gypsum use rose by 34% between 2018 and 2024.

UK: Etex subsidiary Siniat has inaugurated a new line at its Bristol gypsum wallboard plant in the West of England. The plant will produce 98% of Siniat’s portfolio of wallboard products for the UK and Ireland markets. It will incorporate 45% recycled content in its products, with zero waste to landfill. The company said the upgrade to the plant cost €200m.

Belgium-based Etex says that the inauguration marks its single largest production investment in its history.

Belgium: Etex has renewed its five-year collaboration with Cognizant for the latter’s generative AI services. Etex says that the partnership will continue to optimise applications, security and data management, with a view to reducing its costs.

Europe: Etex has reported a solid financial performance aligned with its 2024 forecasts, despite experiencing market contractions across Europe in the new build and renovation sectors. Revenue fell 4.2% year-on-year to €1.93bn, with a recurring earnings before interest, taxation, depreciation and amortisation (REBITDA) decrease of 5% year-on-year to €377m. The company’s outlook for the rest of 2024 is a careful and regular evaluation in response to the current volatile market situation.

Belgium: Etex says that it ‘considerably’ progressed its Road to Sustainability 2030 plan during 2023. That year, safety intensity increased by 7%, and Etex established a global diversity, equity and inclusion ambassador community of 110 volunteers across 26 countries. In Europe, the company achieved 70% Environmental Product Declaration coverage as a percentage of its turnover, up from 58% in 2022. Etex raised its total use of recycled materials to 7.6%, and achieved a 23% reduction in Scopes 1 and 2 CO₂ compared to 2018 levels, in line with its 2030 target of 35%.

CEO Bernard Delvaux said “In the EU, more than 40% of energy consumed is used in buildings and more than 30% of energy-related greenhouse gasses emissions come from buildings. Next to new building activities, and according to current high energy standards, renovating old building stock should hence be a top priority. With our portfolio of building materials such as glass wool and extruded polystyrene insulation, gypsum wallboard, fibre cement boards and fire protection materials, Etex has the solutions to reach the ambitious targets. But in view of the huge challenge, a holistic and effective plan to boost renovation is needed, to finance and simplify the renovation process, in each of the EU countries.”

Belgium: Christoph Dorn has been elected as the new president of Eurogypsum, the Brussels-based European association representing the gypsum supply and processing industry. Dorn, a member of the Group Management Committee for Knauf Central Europe, takes over from Dr. Jörg Ertle of the Etex Group.

Dorn said "Taking over the presidency of Eurogypsum in 2024 is a great honour, as the gypsum industry has much to offer, sourcing domestic and multi-recyclable materials to decarbonise Europe’s buildings."

Belgium: Etex reported sales of €3.81bn in 2023, up by 2.5% from 2022 levels. The company's recurring earnings before interest, taxation, depreciation and amortisation (REBITDA) rose by 10% to €712m. It also raised its capital expenditure for the year, to €371m. Etex says that it was Europe’s leading gypsum recycling performer, with a recycling rate of 8.6% of all gypsum used. The group is ‘actively preparing’ to help rebuild Ukraine as soon as conditions permit.

CEO Bernard Delvaux said “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. This strong performance stems from our anticipation in making strategic decisions and changes at global, regional and local levels, ensuring continued proximity with our customers. This is also a result of even tighter cost monitoring in 2023, without ever losing sight of our long-term ambitions and continuing to improve our strong industrial footprint.”

Australia: Belgium-based Etex has acquired BGC Plasterboard and BGC Fibre Cement from BGC. The assets include the Hazelmere gypsum wallboard plant in Western Australia, as well as nine warehouses across Australia and New Zealand. Both businesses reported total sales of US$101m in the 2023 financial year.

Etex CEO Bernard Delvaux said “We warmly welcome our 200 new teammates coming from BGC. Joining forces with their plasterboard and fibre cement activities is a strategic opportunity for Etex. With this, we complement our gypsum footprint in Australia and, for our customers, we further increase the accessibility of our sustainable products and services.”

Etex already operates three gypsum wallboard plants in Australia, in New South Wales, Queensland and Victoria.