Compagnie De Saint-gobain Sa · EURONEXT:SGO
Compagnie De Saint-gobain Sa — Saint-Gobain — FY2025 Earnings Presentation
43 slides from Compagnie De Saint-gobain Sa's earnings presentation, Feb 27, 2026
Slide 1: 2025 Results & Outlook
February 27, 2026 2025 RESULTS & OUTLOOK Szczyrk hotel, Poland BENOIT BAZIN MAUD THUAUDET 8 Saint-Gobain solutions Chairman & Chief Executive Officer Chief Financial Officer
Slide 2: 2021-2025 Success: All Financial Targets Achieved
2021 – 2025 SUCCESS ALL FINANCIAL TARGETS ACHIEVED 2021 – 2025 average ATTRACTIVE LEADERSHIP BUSINESS PROFILE Organic growth1 3.0% IN SUSTAINABLE CONSTRUCTION Operating margin 10.9% Free cash flow conversion ratio 59% ROCE 15.1% €7bn Shareholder return2 40% -35% Sales rotated since end of 2018 1. Or
Slide 3: 2025 Successes Across Residential, Non-Residential and Infrastructure
Social housing renovation, Echirolles, France Noida International Airport, Delhi, India 6 Saint-Gobain solutions 17 Saint-Gobain solutions 2025 SUCCESSES ACROSS RESIDENTIAL, NON-RESIDENTIAL AND INFRASTRUCTURE Ohio State University Wexner Hospital, US Shebara South Island resort, Saudi Arabia 73 Sain
Slide 4: 2025 Highlights
2025 HIGHLIGHTS IMPROVEMENT OUTPERFORMANCE STRONG DELIVERY NEW STRATEGIC STEPS IN EUROPE IN NORTH AMERICA IN ASIA & EMERGING IN CONSTRUCTION COUNTRIES CHEMICALS +1.1% sales growth +12.6% sales growth +15.9% sales growth 1 while delivering on margin 1 1 in H2 THANKS TO COMMITTED TEAMS! 1. In local cu
Slide 5: 2025: Strong Performance in Contrasted Markets
2025: STRONG PERFORMANCE IN CONTRASTED MARKETS vs. 20241 Sales €46.5bn +2.1% EBITDA €7.2bn +3.4% Operating income €5.3bn +3.8% €3.3bn Recurring net income +4.5% Proposed dividend per share: €2.30 €3.8bn Free cash flow 58% cash conversion ratio 5 FY 2025 RESULTS 1. In local currencies Entegra sustain
Slide 6: 2025 Results: Group
February 27, 2026 2025 RESULTS GROUP Hotel Materra, Slavonia, Croatia MAUD THUAUDET 8 Saint-Gobain solutions Chief Financial Officer
Slide 7: Sales Up 2.1% in Local Currencies
SALES UP 2.1% IN LOCAL CURRENCIES Sales (€m) 2025/2024 2025/2024 -0.5% +2.1% like-for-like in local currencies Like-for-like sales almost stable 47,500 +0.8% -0.2% 47,000 46,571 +2.6% 46,483 46,500 -1.3% Currency effect more negative in H2 46,000 45,500 45,000 -2.3% 44,500 Change H2-2025 vs. H2-2024
Slide 8: Over-Proportional Operating Income Growth, Up 3.8% in Local Currencies
OVER-PROPORTIONAL OPERATING INCOME GROWTH, UP 3.8% IN LOCAL CURRENCIES Operating income in €bn and margin in % 5.3 Operating income at €5.5bn in local currencies 4.5 11.4% Stable operating margin despite negative FX impact and contrasted 10.9% environment 10.2% Slight positive price-cost spread 2021
Slide 9: EBITDA Margin and Net Income
EBITDA MARGIN AND NET INCOME €m 2024 2025 EBITDA 7,205 7,203 +3.4% in local currencies EBITDA margin 15.5% 15.5% Operating income 5,304 5,293 +3.8% in local currencies Non-operating costs (236) (231) Asset write-downs and amortization of PPA (524) (506) Capital gains (losses), impacts resulting from
Slide 10: Solid Cash Flow and Balance Sheet
SOLID CASH FLOW AND BALANCE SHEET FREE CASH FLOW GENERATION DISCIPLINED CAPITAL ALLOCATION Reduction of 1 day in OWCR to 11 days1 Net debt / EBITDA ratio stable at 1.4x at end-December 2025 €4.3bn deployed in 2025 to enhance value creation: Free cash flow conversion ratio at 58% €2.8bn of value-accr
Slide 11: 2025 Results: Regions
February 27, 2025 2025 RESULTS REGIONS Canberra Institute of technology, Australia MAUD THUAUDET 15 Saint-Gobain solutions Chief Financial Officer
Slide 12: Europe, Middle East & Africa: Return to Sales and Operating Income Growth in H2
EUROPE, MIDDLE EAST & AFRICA: RETURN TO SALES AND OPERATING INCOME GROWTH IN H2 Sales (€m) 2025/2024 Operating income (€m) and margin (%) -0.2% in local currencies 29,150 +0.6% 29,100 29,050 -0.2% 2,498 2,440 29,000 28,950 28,929 0.0% 28,900 28,867 28,850 28,800 -0.8% 28,750 28,700 28,650 +0.6% 28,6
Slide 13: Americas: Outperformance in H2 with Stable Margin
AMERICAS: OUTPERFORMANCE IN H2 WITH A STABLE MARGIN DESPITE A MARKED DECLINE IN SALES Sales (€m) 2025/2024 Operating income (€m) and margin (%) +1.5% in local currencies 13,600 13,558 -4.4% 13,400 +2.7% 2,279 2,230 13,200 13,000 12,957 12,800 -1.2% 12,600 -5.9% 12,400 12,200 +1.8% 12,000 11,800 11,6
Slide 14: Asia-Pacific: Sales Growth and Record Margin
ASIA-PACIFIC: SALES GROWTH AND RECORD MARGIN Sales (€m) 2025/2024 Operating income (€m) and margin (%) +16.9% in local currencies +11.1% 5,400 +2.4% 5,256 698 5,200 +14.5% 5,000 615 4,800 4,733 4,600 4,400 4,200 -5.8% +3.4% 4,000 +1.2% 3,800 3,600 H1 H2 13.0% 13.3% 3,400 3,200 H2: 12.6% H2: 13.2% 3,
Slide 15: Strategy
February 27, 2026 STRATEGY Educational institution in Alsace, France BENOIT BAZIN 9 Saint-Gobain solutions Chairman & Chief Executive Officer
Slide 16: Opening a New Chapter
OPENING A NEW CHAPTER LARGE OPPORTUNITIES ACROSS RESIDENTIAL, VALUE-ENHANCING GROWTH COMPOUNDING SUPPORTED BY NON-RESIDENTIAL SOLUTIONS APPROACH COUNTRY PLATFORMS MEGATRENDS & INFRASTRUCTURE TO CAPTURE A €500BN ADDRESSABLE MARKET 16 FY 2025 RESULTS
Slide 17: Saint-Gobain Is Unique in Offering a Comprehensive Suite of Solutions
SAINT-GOBAIN IS UNIQUE IN OFFERING A COMPREHENSIVE SUITE OF SOLUTIONS… INTERIOR SOLUTIONS EXTERIOR SOLUTIONS Plasterboard Roofing Insulation Siding and cladding Ceilings Façade Glazing CONSTRUCTION CHEMICALS SOLUTIONS Flooring and façade renders Waterproofing JOBSITE SOLUTIONS Concrete admixtures &
Slide 18: Strong Potential to Expand in Non-Residential & Infrastructure Markets
… WITH A STRONG POTENTIAL TO EXPAND IN NON-RESIDENTIAL & INFRASTRUCTURE MARKETS Saint-Gobain sales DATA vs. addressable markets1 for construction, 2025 CENTERS EDUCATION €15bn €250bn Non-residential & infrastructure Residential INFRASTRUCTURE HEALTHCARE HOTELS Saint-Gobain Addressable markets 18 FY
Slide 19: High-Performance Offer for Hospitals
HIGH-PERFORMANCE OFFER FOR HOSPITALS Saint-Gobain’s expertise in healthcare Customer needs Hygiene Durability & safety Hygiene wall X-ray protection glazing & Technical support & & ceiling systems plasterboard expertise in Anti-bacterial fiberglass Fire-rated plasterboard high-performance and wall f
Slide 20: Integrated Solutions for Data Center Requirements
INTEGRATED SOLUTIONS FOR DATA CENTER REQUIREMENTS Leveraging our global & multi-local presence Customer needs Construction speed Safety & resilience Prefabricated Anti-static screed solutions Global Key Account sandwich panels & coatings for flooring Management for early Easy to install structural F
Slide 21: Comprehensive Offer for Airport Buildings & Infrastructure
COMPREHENSIVE OFFER FOR AIRPORT BUILDINGS & INFRASTRUCTURE Delivering performance & functionality for all airport spaces Customer needs Tailored solutions to serve distinct Interior spaces Regulatory operational, regulatory and passenger compliance experience needs Acoustic ceilings, walls & Fire-ra
Slide 22: Dynamic Leadership in Construction Chemicals
>€9bn SALES IN CONSTRUCTION CHEMICALS BY 2030 DYNAMIC LEADERSHIP IN CONSTRUCTION CHEMICALS MARKET OUTPERFORMANCE WITH 2.8% ORGANIC GROWTH IN H2 2025 & AIMING AT >€9BN SALES BY 2030 High friction surfacing and line marking for road Protective coating for concrete >300 sites in 76 countries High perfo
Slide 23: In Europe, Well-Positioned to Benefit from Improving Leading Indicators
IN EUROPE, SAINT-GOBAIN IS WELL-POSITIONED TO BENEFIT FROM IMPROVING LEADING INDICATORS… HOUSING MARKET IMPROVEMENT RENOVATION TAILWINDS Enhanced EU public support to address housing crisis Policies in favor of energy-efficient renovation €7bn 2026 – 2030 budget for state housing plan Ongoing EED &
Slide 24: Comprehensive Solutions Make Us the Go-To Partner for Customers
…THANKS TO OUR COMPREHENSIVE SOLUTIONS THAT MAKE US THE GO-TO-PARTNER FOR CUSTOMERS HIGH ADDED-VALUE SOLUTIONS & CROSS-SELLING ONE-STOP-SHOP FOR RENOVATION IN FRANCE Patented façade system Integrated offer -30% installation time 30 solutions & services for a complete home renovation -20% heat loss 3
Slide 25: In North America, Saint-Gobain Is #1 in Interior & Exterior Solutions
IN NORTH AMERICA, SAINT-GOBAIN IS THE #1 IN INTERIOR & EXTERIOR SOLUTIONS… WIN-WIN PARTNERSHIP WITH TOP NATIONAL SUPERIOR CONTRACTOR ENGAGEMENT DISTRIBUTOR CUSTOMERS 80 CertainTeed Distributor Net Promoter Score Strong loyalty programs increase in number of distribution points of sales + 10% cross-s
Slide 26: Roofing Leadership at the Core of Climate-Resilient Offer
…WITH ROOFING LEADERSHIP AT THE CORE OF OUR CLIMATE-RESILIENT OFFER… STRONG DRIVERS FOR US RESIDENTIAL ROOFING MARKET CERTAINTEED FORTIFIED HOMES Residential roofing market demand drivers1 Certainteed among the only 3 meaningful players atVycor national TM Frequency & cost of US climate disasters wi
Slide 27: Expanding into Non-Residential and Infrastructure
…WHILE EXPANDING INTO NON-RESIDENTIAL AND INFRASTRUCTURE TARGETING FAST-GROWING MARKETS GROWING PROJECT PIPELINE $660bn 2026 AI investment, mostly in data centers, by US hyper-scalers1 ~5% annual transportation market growth in North America over the next 5 years2 Iron Mountain data center, Virginia
Slide 28: In Asia-Pacific & Emerging Countries, Accelerating Roll-Out of Solutions
IN ASIA-PACIFIC & EMERGING COUNTRIES, SAINT-GOBAIN IS ACCELERATING THE ROLL-OUT OF ITS SOLUTIONS… EXPANDING ACROSS SPECIFYING HIGH ENRICHING OUR OFFER ALL MARKETS ADDED-VALUE SOLUTIONS Mumbai Ahmedabad high-speed rail project Dwight international school, Vietnam 12 Saint-Gobain solutions 7 Saint-Gob
Slide 29: Growing in Non-Residential Markets by Expanding Specification
…AND IS GROWING IN NON-RESIDENTIAL MARKETS BY EXPANDING SPECIFICATION GROWING IN NON-RESIDENTIAL INCREASING SPECIFICATION Saint-Gobain presence at hospitality targeted event in Dubai St. Regis Kanai Resort – Cancún, Mexico with ~330 hotel buyers Fire resistant & moisture retardant systems, plasterbo
Slide 30: Country Platforms Drive Operational Excellence Through All Levers
SAINT-GOBAIN COUNTRY PLATFORMS DRIVE OPERATIONAL EXCELLENCE THROUGH ALL LEVERS… MANUFACTURING COMMERCIAL EXCELLENCE EXCELLENCE Delivering outperformance through COMMERCIAL EXCELLENCE leveraging: • Cross-selling within all routes to market • Specification • Share of high added-value products Digitali
Slide 31: Compounding Growth and Value Creation
…WHILE COMPOUNDING GROWTH AND VALUE CREATION NORTH AMERICA MEXICO INDIA MIDDLE EAST & TURKEY Assembly Innovation Park, Massachusetts Shark tower residence, Mexico Navi Mumbai International Airport Mohammed Bin Rashid library, UAE 2025 sales $11bn €1.3bn €1.7bn €1.2bn Since 2019 x1.6 x2.0 X2.3 x2.4 +
Slide 32: Actively Steering Portfolio Optimization
SAINT-GOBAIN IS ACTIVELY STEERING ITS PORTFOLIO OPTIMIZATION 2025 ACHIEVEMENTS PORTFOLIO ROTATION 2030 TARGETS2030 +11% Sales growth1 ~€1.2bn Sales rotated >20% Sales rotation in 20252 (acquisitions & divestments) 20% EBITDA margin 1 Country platforms proactively engaging M&A discussions >13% Group
Slide 33: Strategy Delivering Attractive Shareholder Returns
OUR STRATEGY IS DELIVERING ATTRACTIVE SHAREHOLDER RETURNS Total Dividend per share (€) return Cash dividend (€m) €7.1bn Share €2.10 €2.20 buyback €2.00 €2.4bn €1.5bn returned to shareholders in 2025, €1.63 incl. €402m share buyback €1.33 Cash Dividend of €2.30 per share (+4.5%) 1,085 dividend 835 1,
Slide 34: Outlook
February 27, 2026 OUTLOOK Middle East campus of the Heriot-Watt Edinburgh University, Dubai, UAE BENOIT BAZIN 8 Saint-Gobain solutions Chairman & Chief Executive Officer
Slide 35: 2026 Outlook
2026 OUTLOOK In a contrasted macroeconomic environment and uncertain geopolitical landscape, the Group expects the following trends for 2026: • EUROPE: gradual improvement, with contrasted trends by country • NORTH AMERICA: continued market weakness in the first half, gradually improving outlook in
Slide 36: 2025 Results & Outlook
February 27, 2026 2025 RESULTS & OUTLOOK Szczyrk hotel, Poland BENOIT BAZIN MAUD THUAUDET 8 Saint-Gobain solutions Chairman & Chief Executive Officer Chief Financial Officer
Slide 37: Appendix
37 APPENDIX FY 2025 RESULTS SAINT-GOBAIN
Slide 38: Important Disclaimer – Forward-Looking Information
IMPORTANT DISCLAIMER – FORWARD-LOOKING INFORMATION This presentation contains forward-looking statements with respect to Saint-Gobain’s financial condition, results, business, strategy, plans and outlook. Forward-looking statements are generally identified by the use of the words "expect", "anticipa
Slide 39: 2025 End Markets Sales Split
2025 END MARKETS 1 SALES SPLIT 7% 6% 7% 3% RESIDENTIAL NEW CONSTRUCTION 23% 8% 15% 8% 1% RESIDENTIAL RENOVATION 32% 11% 10% 8% 4% NON-RESIDENTIAL & INFRASTRUCTURE 33% 2% 2% 5% 3% INDUSTRY 12% NORTHERN SOUTHERN AMERICAS ASIA-PACIFIC EUROPE EUROPE - 28% 11% 28% ME & AFRICA 33% 1. Saint-Gobain estimate
Slide 40: Europe, Middle East and Africa
EUROPE, MIDDLE EAST AND AFRICA SALES BY PRODUCT SEGMENT SALES BY END-MARKET 2025 2025 INDUSTRIAL SOLUTIONS INDUSTRY 8% INTERIOR 8% SOLUTIONS 29% RESIDENTIAL RENOVATION 37% 35% JOBSITE SOLUTIONS 41% & MERCHANTING 10% EXTERIOR SOLUTIONS 12% NON-RESIDENTIAL & 20% INFRASTRUCTURE CONSTRUCTION RESIDENTIAL
Slide 41: North America
NORTH AMERICA SALES BY PRODUCT SEGMENT SALES BY END-MARKET 2025 2025 INDUSTRIAL SOLUTIONS INDUSTRY 15% 15% RESIDENTIAL CONSTRUCTION INTERIOR RENOVATION CHEMICALS SOLUTIONS 33% SOLUTIONS 8% 37% 27% 40% NON-RESIDENTIAL & 25% INFRASTRUCTURE EXTERIOR RESIDENTIAL SOLUTIONS NEW CONSTRUCTION 41 FY 2025 RES
Slide 42: Latin America
LATIN AMERICA SALES BY PRODUCT SEGMENT SALES BY END-MARKET 2025 2025 INDUSTRIAL INTERIOR SOLUTIONS SOLUTIONS INDUSTRY RESIDENTIAL RENOVATION 18% 20% 18% 23% JOBSITE SOLUTIONS & MERCHANTING 5% 27% EXTERIOR 35% 24% 30% SOLUTIONS RESIDENTIAL CONSTRUCTION NEW CONSTRUCTION CHEMICALS NON-RESIDENTIAL & SOL
Slide 43: Asia-Pacific
ASIA-PACIFIC SALES BY PRODUCT SEGMENT SALES BY END-MARKET 2025 2025 RESIDENTIAL RENOVATION INDUSTRIAL 8% SOLUTIONS INDUSTRY 26% INTERIOR 26% SOLUTIONS 38% RESIDENTIAL 33% NEW CONSTRUCTION 16% CONSTRUCTION CHEMICALS NON-RESIDENTIAL & 33% SOLUTIONS 20% INFRASTRUCTURE EXTERIOR SOLUTIONS 43 FY 2025 RESU