France · Delayed Price · Currency is EUR Compagnie de Saint-Gobain Earnings Call Transcripts
Fiscal Year 2026
-
The AGM highlighted robust financial results, strong dividend growth, and successful completion of strategic plans. Shareholders approved all resolutions, and management emphasized sustainability, innovation, and stakeholder value amid macroeconomic challenges.
-
Q1 2026 sales declined 2.3% like-for-like, outperforming expectations despite adverse weather. Asia Pacific grew 9%, while Americas declined due to weather and weak new construction. EBITDA margin above 15% is confirmed for 2026, with a positive price-cost spread expected.
Fiscal Year 2025
-
Delivered strong 2025 results with sales up 2.1% in local currencies, robust free cash flow, and stable margins despite market headwinds. Outlook for 2026 is positive, with EBITDA margin expected above 15% and continued portfolio rotation and shareholder returns.
-
Q3 2025 saw 1.3% sales growth in local currencies, led by strong gains in construction chemicals and a return to growth in Europe, while North America lagged due to weak new construction and fewer storms. Operating margin for 2025 is projected above 11%.
-
A five-year strategy targets mid-single-digit sales growth, 15–18% EBITDA margin, and strong free cash flow, driven by solutions, innovation, and expansion into non-residential and infrastructure markets. Regional platforms in North America, Europe, Latin America, and Asia-Pacific are set to outperform their markets, supported by disciplined capital allocation and portfolio rotation.
-
Record H1 2025 results with 3.4% sales growth, 11.8% operating margin, and strong cash flow. Outlook for H2 is positive, with expected volume growth in Europe and robust margins in the Americas and Asia-Pacific. Integration of recent acquisitions and disciplined capital allocation support continued growth.
-
A new organizational model gives country CEOs full P&L control and expands their scope to all sales, supported by a new COO and expertise platforms. Reporting will shift to four regions, with a focus on accelerating growth, cross-selling, and regional execution. More strategic details will be shared at the next Capital Markets Day.
-
Q1 2025 saw 3.2% sales growth, stable volumes, and price increases, with strong performance in Americas, Asia-Pacific, and Northern Europe. Operating margin above 11% is guided for 2025, with positive price-cost spread expected. Acquisitions in construction chemicals and a local-for-local model support resilience.
Fiscal Year 2024
-
Record 2024 results with all-time high margins, net income, and cash flow, driven by strong execution, major acquisitions, and a focus on sustainable construction. Outlook for 2025 is positive, with margin discipline, gradual European recovery, and robust growth in Americas and Asia-Pacific.
-
Q3 2024 showed sequential organic growth improvement, driven by Americas, Asia-Pacific, and High-Performance Solutions, while Europe lagged due to weak new construction. Operating margin is set for a new record in 2024, with strong acquisition integration and a positive price-cost spread maintained.
-
Record H1 2024 results with 11.7% operating margin, €1.7B net income, and €2.5B free cash flow. Strategic acquisitions in high-growth markets and construction chemicals drive future growth, with double-digit margins expected for the full year.
-
The acquisition of Fosroc strengthens the global construction chemicals platform, especially in India and the Middle East, with $54 million in synergies expected by year three. Integration will be managed by an experienced team, with closing anticipated in H1 2025.