The Brazilian subsidiary of the Belgian multinational Eternit has made an important announcement: it has decided to discontinue its photovoltaic product line. This decision, made public after a meeting of the Board of Directors on 11 March 2025, in accordance with CVM Resolution No. 44, has sent ripples through the industry.
Eternit, part of the Belgian building materials manufacturer Etex, has a complex history. Initially focused on the production of fibre cement boards, the company faced a major crisis due to asbestos in fibre cement roofs. In response, Eternit made a strategic pivot into the photovoltaic sector in 2019. That year, it launched a photovoltaic tile at the Intersolar South American trade fair in São Paulo. Developed using Brazilian technology, this tile was approved by the National Institute of Metrology, Quality and Technology (Inmetro), marking a promising start for Eternit in the solar market.
Subsequently, Eternit sought to expand its presence in the PV sector. In December 2021, as reported by Brazilian media Click Petróleo e Gas, the company began selling its concrete photovoltaic tiles to selected customers. In 2024, the company took further steps. It announced plans to install its photovoltaic tiles in Brazilian projects and also launched building-integrated photovoltaic (BIPV) modules, diversifying its product range.
Despite Eternit’s considerable efforts, the viability of its PV product line remained in question. Over the past few years, the company had explored various strategies to improve the competitiveness of this product line. However, after careful consideration and analysis, it concluded that the line was not sustainable. Although competition in the global PV market, including from various sources, played a role, internal factors relating to the performance and long-term prospects of the product line were also key to this decision.
The financial impact of this decision has already been included in the company’s results for the year ending 31 December 2024. The impact, recorded under other income and expenses, amounts to BRL 17.1 million (approximately $2.97 million). This decision also has an impact on several aspects of the company’s balance sheet, such as fixed assets, inventories, provisions for guarantees and indemnities.
