ETEX BUILDING PERFORMANCE LIMITED

1. ETEX BUILDING PERFORMANCE LIMITED 2017-01-03 → present
2. SINIAT LIMITED 2012-10-01 → 2017-01-03
3. LAFARGE PLASTERBOARD LIMITED 1993-03-01 → 2012-10-01
4. REDLAND PLASTERBOARD LIMITED 1987-10-09 → 1993-03-01
5. TRUSHELFCO (NO 1120) LIMITED 1987-09-14 → 1987-10-09

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101 Reduced Disclosure Framework

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company is currently in a net liability position, due to large investment in recent Capex to expand the production facility. The business is highly profitable and also projected to remain profitable in future years. The profitability, positive cash balance and net asset position overall means the current net liability position does not create a going concern issue. Further to this, the company meets its day-to-day working capital requirements through access to funds as part of the Etex NV group's cash pooling arrangement that is administered through Etex Finance S.A., a fellow group company registered in Luxembourg, which acts as an internal bank within for Etex NV subsidiaries. As part of the contractual cash pooling terms and conditions, either party can terminate the agreement at any time by sending a registered letter with prior notice of 30 days.”

Group structure

1. ETEX BUILDING PERFORMANCE LIMITED · parent
   1. Crucible Gypsum Recycling Limited 100% · United Kingdom · Collects and recycles plasterboard waste into gypsum powder for use in plasterboard manufacture
   2. FSi Limited 100% · United Kingdom · Manufacture of passive fire-protection products

Significant events

• “The UK construction market continued to recover in 2024. The company's sales decreased by 1.04% compared to the previous year to £309m. Gross profit has increased from 36.4% in 2023 to 37.8% in 2024.”
• “The operating profit has increased from £62,261,000 in 2023 to £63,925,000 in 2024.”
• “The key strategic decisions made in the year were to invest in an expansion programme in Bristol, UK to increase manufacturing capacity.”
• “Construction of our new manufacturing site at Bristol is now complete and the line is in commissioning stage. The new facilities employ the latest energy and low carbon technologies and resulted in a step change improvement in performance on start-up last year.”
• “During 2024 in FSI Limited installed new compressors to improve energy efficiency. Additional sensor switches for lights were rolled out across the business.”
• “In 2024, the focus was on water efficiency and packaging reduction. FSI Limited will also work with transport providers for incoming goods to drive carbon reductions in the supply chain thus increased back hauls to reduce transport trips.”
• “Within 2024, started a green electric project to go live for 2025.”
• “Crucible Gypsum Recycling Limited ceased operations in April 2023 and dilapidation works are nearly finished.”
• “In summary UK Operations has achieved the best energy results in our history, saving a combined 2.56% total energy use for 2024 compared to 2023. We also achieved a 2.94% carbon reduction.”
• “Bristol improved energy efficiency by 2.97% including starting up a new line (Boardline 4).”
• “Ferrybridge improved energy efficiency by 1.14% despite increasing waste reclaim input by 5% YoY (≈0.5% negative impact).”
• “This fantastic result has only been achieved from the hard work and buy-in from all the manufacturing teams and departments, from our teams working on controlling energy every hour, to the projects, trials and step changes implemented by the Production, Q&P and Engineering teams.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -1%

  £312,251,000 → £308,991,000

• Cash

  —

  Not reported

• Net assets

  +10.6%

  £156,293,000 → £172,800,000

• Employees

  +2.3%

  511 → 523

• Operating profit

  +2.7%

  £62,261,000 → £63,925,000

• Profit before tax

  +1.5%

  £60,204,000 → £61,112,000

• Wages

  +14.3%

  £25,302,000 → £28,928,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers