Home News Etex sales fall in first half of 2013

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Etex Group, the parent company of Marley Eternit and Siniat,  has reported that its net profit fell by 63% year-on-year to 41 million euro for the fist six months of 2013 from  110 million euro for the same period in 2012.

In the first half of 2013, building materials group Etex posted sales of 1,483 million euro, representing a 2.9% drop in real terms compared to last year.  Etex said that the decline in sales was due to a particularly harsh winter in Europe and the general weak market conditions.

Despite these difficult circumstances, Etex generally managed to hold margins and keep its market share in its respective markets. The group continues to focus on its core businesses and invests in expansion and new capacity to take advantage of the growth in emerging markets and promising building segments.

Etex’s gypsum division Siniat sold La Chape Liquide and Gyvlon, two subsidiaries that manufacture and sell anhydrite floor screed binders in Europe. This operation is part of Siniat’s long-term investment policy allowing Etex to focus on dry construction, providing inside and outside building solutions.

Etex is investing 25 million euro in Siniat’s French polystyrene factories. The financial injection involves new manufacturing tools and an increased production capacity, strengthening Siniat’s market leadership in polystyrene backed plasterboards.

For the remainder of 2013 Etex expects  results to be better than in 2012 due to its growth in the dry construction sector.