Saint-Gobain: Excellent first-half 2022 results

The outlook for 2022 is confirmed

Benoit Bazin, Chief Executive Officer of Saint-Gobain, commented, “Our excellent first-half 2022 performance reflects the profound changes made in the Group, the successful execution of our “Grow & Impact” plan, and good momentum on our underlying markets. Thanks to our comprehensive range of sustainability solutions – for energy efficiency and decarbonization of construction and industry – and extensive exposure to the renovation market, the Group is ideally positioned on robust market fundamentals.

“Over the coming quarters, we are ready to adapt as needed to the consequences of rising interest rates and inflation along with the geopolitical and energy situation in Europe. Each country CEO has designed action plans, focusing especially on margins and cash flow. In this more uncertain environment, our target is to continue to outperform our markets and our deep transformation will enable us to demonstrate greater resilience.

“Over the past three years, our teams have successfully risen to the challenges of the coronavirus pandemic, supply chain disruptions, and a strong inflationary environment. With portfolio rotation of almost EUR 10 billion in sales since the end of 2018, and with a local organization keenly aware of immediate realities on the ground, Saint-Gobain has significantly increased its value creation. Against this backdrop, I am confident in the Group’s 2022 outlook which targets a further increase in operating income compared to 2021 at constant exchange rates.”

“Like-for-like sales rose sharply in first-half 2022, up 15.0 percent on first-half 2021. This strong performance reflects the Group’s position as worldwide leader in light and sustainable construction thanks to its unique range of innovative solutions offering sustainability and performance rolled out as part of the “Grow & Impact” plan. It also reflects good momentum across our segments, which all reported double-digit organic growth, driven in particular by renovation in Europe and by construction in the Americas and in Asia.”

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