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.”
