Etex Full-Year Report 2022

June 15, 2023

2022 was again a year of growth for Etex, with revenue up by 13.3% like-for-like compared to 2021, as a result both of volumes stability and increased average selling prices.

Total sales: EUR 3,714 million, the revenue increased with around EUR 742 million, or +25.0% compared to 2021
year-on-year, including the impact of the newly acquired businesses, being URSA in 2022 (EUR +312 million) and, only partially contributing in 2021, the Australian plasterboard businesses (EUR +53 million) and New Ways in the UK, Ireland and France (EUR +32 million), and of the war-related drop in Russia and Ukraine (EUR -26 million).

Our REBITDA amounted to EUR 645 million, another record in Etex history.

The REBITDA expressed in percentage of sales amounted to 17.4%, compared to 19.2% in 2021, an evolution resulting from selling price increases to counterbalance, in absolute values, the impact of inflation on cost of goods sold but insufficient to keep gross margin percentages as high as in 2021.