Compagnie De Saint-gobain Sa · EURONEXT:SGO
Compagnie De Saint-gobain Sa — Saint-Gobain — H1 2025 Earnings Presentation
35 slides from Compagnie De Saint-gobain Sa's earnings presentation, Aug 1, 2025
Slide 1: H1 2025 Results and Outlook
H1 2025 RESULTS AND OUTLOOK August 1st, 2025 St. Regis Kanai Resort – Cancún, Mexico • Fire resistant & moisture retardant systems, plasterboard systems incorporating metal profiles, adhesives
Slide 2: H1 2025 Highlights
H1 2025 HIGHLIGHTS Benoit Bazin Chairman and CEO Bejo Headquarters – Warmenhuizen, Netherlands • Gyproc® partition walls and metal frames, Isover insulation
Slide 3: Light & Sustainable Solutions for Residential
RENOVATION OF STOCKUM BWB – DÜSSELDORF, GERMANY 13 Saint-Gobain solutions LIGHT & SUSTAINABLE SOLUTIONS FOR RESIDENTIAL H RESIDENCE – DUBAI, UAE 18 Saint-Gobain solutions
Slide 4: Light & Sustainable Solutions for Non-Residential
RENOVATION OF WEXNER HOSPITAL – OHIO, US 8 Saint-Gobain solutions LIGHT & SUSTAINABLE SOLUTIONS FOR NON-RESIDENTIAL DWIGHT INTERNATIONAL SCHOOL – HANOI, VIETNAM 7 Saint-Gobain solutions
Slide 5: Light & Sustainable Solutions for Infrastructure
METRO LINE 4 – CAIRO, EGYPT 8 Saint-Gobain solutions LIGHT & SUSTAINABLE SOLUTIONS FOR INFRASTRUCTURE SIR ANEROOD JUGNAUTH BRIDGE – MAURITIUS 8 Saint-Gobain solutions
Slide 6: H1 2025: Strong Results
H1 2025: STRONG RESULTS Sales growth €23.9bn +3.4% in local currencies Record EBITDA €3.8bn +7.0% in local currencies Record operating margin 11.8% €2.8bn operating income Recurring EPS €3.63 at a record level Free cash flow €2.2bn 63% cash conversion ratio UP-site residential building – Bucharest,
Slide 7: Strong Operational Delivery and Organizational Alignment Ahead of Next Strategic Plan
STRONG OPERATIONAL DELIVERY AND ORGANIZATIONAL ALIGNMENT AHEAD OF OUR NEXT STRATEGIC PLAN Strong operational execution with a record margin in a wait-and-see environment Fully regionalized organization to accelerate growth Solutions provider delivering enhanced product mix and share-of-wallet across
Slide 8: H1 2025 Results: Group
H1 2025 RESULTS Group Maud Thuaudet Chief Financial Officer Pacaembu Stadium – São Paulo, Brazil • Over 27,000 m² of Placo® solutions and 12,000 m2 of Glasroc X® plasterboard
Slide 9: Sales Up 3.4% in H1 2025 in Local Currencies
SALES UP 3.4% IN H1 2025 IN LOCAL CURRENCIES 2025/2024 -0.5% like-for-like Volumes virtually stable at constant number of working days with a sequential improvement +1.0% +3.9% vs. H2 2024 +1.7% -1.5% Prices up in a slightly inflationary cost environment -1.7% Further depreciation of almost all curr
Slide 10: New Records in Operating Income and EBITDA
NEW RECORDS IN OPERATING INCOME AND EBITDA Operating income in €bn and margin in % 2.75 2.80 Record operating margin at 11.8% despite a negative exchange rate effect on margin 11.8% Record EBITDA and operating income in local 11.7% currencies, up 7.0% and 5.0% respectively Slight positive price-cost
Slide 11: Recurring EPS at a Record Level
RECURRING EPS AT A RECORD LEVEL H1-2024 H1-2025 €m EBITDA 3,652 3,818 Operating income 2,751 2,803 Non-operating costs (125) (50) Asset write-downs, PPA amortization and others (164) (188) Net financial expense (215) (304) Income tax (546) (596) Net attributable income 1,660 1,629 Recurring net inco
Slide 12: Free Cash Flow Conversion Ratio at 63%
FREE CASH FLOW CONVERSION RATIO AT 63% H1-2024 H1-2025 OWCR1 stable in days of sales Net debt / EBITDA ratio2 at 1.7x OWCR1 in days 23 23 Strong financial discipline recognized by Free Cash Flow (€m) 2,460 2,190 rating agencies Conversion ratio 75% 63% 1. Operating Working Capital Requirement 12 2.
Slide 13: H1 2025 Results: Segments
H1 2025 RESULTS Segments Maud Thuaudet Chief Financial Officer Concepción Live residence – Buenos Aires, Argentina • Placo® plasterboard, Isover insulation, Weber exterior plaster solutions
Slide 14: Europe, Middle East & Africa: Sequential Improvement in Sales and Good Margin Resilience
EUROPE, MIDDLE EAST & AFRICA: SEQUENTIAL IMPROVEMENT IN SALES AND GOOD MARGIN RESILIENCE Sales (€m) Operating income (€m) and margin (%) +0.1% +0.1% 1,125 1,071 -2.0% -2.2% 8.7% 8.5% 12,890 12,629 H1-2024 sales Exchange rates Structure like-for-like H1-2025 sales H1-2024 H1-2025 Change in Spain- Uni
Slide 15: Americas: Slight Sales Growth and Record Margin
AMERICAS: SLIGHT SALES GROWTH AND RECORD MARGIN Sales (€m) Operating income (€m) and margin (%) +1.3% +1.1% 987 +4.7% 945 -4.9% 19.7% 19.0% 4,967 5,021 H1-2024 sales Exchange rates Structure like-for-like H1-2025 sales H1-2024 H1-2025 Change in sales on North America Latin America a like-for-like ba
Slide 16: Asia-Pacific: Sales Growth and Record Margin
ASIA-PACIFIC: SALES GROWTH AND RECORD MARGIN Sales (€m) Operating income (€m) and margin (%) +3.9% +47.1% +45.9% 204 134 -2.7% 13.4% 13.0% 1,033 1,520 H1-2024 sales Exchange rates Structure like-for-like H1-2025 sales H1-2024 H1-2025 16 H1 2025 RESULTS
Slide 17: High Performance Solutions: Slight Sales Growth and Resilient Margin
HIGH PERFORMANCE SOLUTIONS: SLIGHT SALES GROWTH AND RESILIENT MARGIN Sales (€m) Operating income (€m) and margin (%) +0.8% +1.7% +3.6% 610 605 -2.7% 12.3% 12.0% 4,969 5,054 H1-2024 sales Exchange rates Structure like-for-like H1-2025 sales H1-2024 H1-2025 Change in sales on a Construction & industry
Slide 18: Strategy
STRATEGY Benoit Bazin Chairman and CEO The Amaryllis residence – New Delhi, India • Energy-efficient solar control glazing, Gyproc® lightweight ceilings & wall finish, Weber tile adhesives & joints
Slide 19: Well-Positioned to Benefit from European Recovery
WELL-POSITIONED TO BENEFIT FROM EUROPEAN RECOVERY POSITIVE LEADING INDICATORS FAVORABLE LONG-TERM TRENDS Housing starts1, % change trough to latest data, 12m cumulative2 Housing shortage across the region with ambitious >6m government programs to address this 37% 11% 14% 1% 4% Ambition to build 1.5m
Slide 20: One-Stop-Shop Provider for Renovation in France
A UNIQUE ONE-STOP-SHOP PROVIDER WITH A COMPLETE RANGE OF SOLUTIONS FOR RENOVATION IN FRANCE LARGE SHARE-OF-WALLET FOR SINGLE-FAMILY HOUSE LEADING SERVICE PROVIDER ALONG THE FULL RENOVATION VALUE CHAIN Trainings & digital tools leveraging building science and supporting Interactive digital solution f
Slide 21: Long-Term Fundamentals Intact in North America
LONG-TERM FUNDAMENTALS INTACT IN NORTH AMERICA SIGNIFICANT STRUCTURAL NEEDS DESPITE SHORT-TERM SOFTNESS IN NEW CONSTRUCTION • Widespread housing shortages ~3.7m Deficit in housing stock1 Housing units needed2 by 2030 to meet ~5m demand and restore affordability • Ongoing renovation needs due to agei
Slide 22: Investing in Our Offer and Regional Presence in North America
INVESTING IN OUR UNDISPUTED OFFER AND REGIONAL PRESENCE IN NORTH AMERICA LARGE SHARE-OF-WALLET WITH COMPREHENSIVE DISTRIBUTORS’ PARTNER OF CHOICE RANGE OF SOLUTIONS Example of a multi-family or non-residential building Only manufacturer offering the full comprehensive range of building materials Cei
Slide 23: Asia & High-Growth Countries Continuing to Exhibit Robust Dynamics
ASIA & HIGH-GROWTH COUNTRIES CONTINUING TO EXHIBIT ROBUST DYNAMICS STRONG DEMOGRAPHIC & URBANIZATION TRENDS Total urban population growth in Asia & emerging countries1 +2bn 2020-2050 CAGR of infrastructure market in Asia & emerging countries2 +5.3% 2024-2030 7 Saint-Gobain solutions, Llum Batel resi
Slide 24: A Strong Leader in Construction Chemicals in India
A STRONG LEADER IN CONSTRUCTION CHEMICALS IN INDIA LEVERAGING OUR EXTENDED PORTFOLIO INTEGRATING ALL CONSTRUCTION CHEMICALS ACCELERATING THE DEPLOYMENT OF OUR TECHNOLOGIES IN INDIA SOLUTIONS IN THE INFRASTRUCTURE MARKET Example: construction of Bengaluru metro system in India Portfolio maximization
Slide 25: Successfully Integrating Our Acquisitions
ACCELERATING OUR PRESENCE IN HIGH-GROWTH COUNTRIES & CONSTRUCTION CHEMICALS BY SUCCESSFULLY INTEGRATING OUR ACQUISITIONS CSR offer enrichment with Saint-Gobain value-added solutions (e.g., launch of Glasroc® X & broadening of CSR range with Ecophon ceilings) Cost synergies on track from enhanced ind
Slide 26: Outlook
OUTLOOK Benoit Bazin Chairman and CEO Polish History Museum – Warsaw, Poland • COOL-LITE® façade and solar control glazing, Ecophon ceilings, plasterboard system integrating Isover insulation, Chryso admixtures, Weber mortars
Slide 27: Outlook
OUTLOOK In a macroeconomic environment that remains contrasted, Saint-Gobain will once again demonstrate a very strong operating performance in second-half 2025. Assuming no major slowdown in global growth linked to geopolitical uncertainties, the Group expects the following trends: • Europe: a grad
Slide 28: Strongly Delivering on Our Profitable Growth Strategy
STRONGLY DELIVERING ON OUR PROFITABLE GROWTH STRATEGY Leadership in light & sustainable Proven operating model by country Value-creating capital allocation construction for a powerful solutions journey and attractive shareholder returns Our next strategic plan will be presented at our Capital Market
Slide 29: 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 30: H1 2025 Results and Outlook
H1 2025 RESULTS AND OUTLOOK August 1st, 2025 Long Thanh International Airport – Ho Chi Minh City, Vietnam • Cool-Lite K façade, Adfors GlasGrid® asphalt reinforcement, Ecophon ceilings, concrete admixtures
Slide 31: Appendix
APPENDIX
Slide 32: 2024 End Markets Sales Split
2024 END MARKETS 1 SALES SPLIT NEW RESIDENTIAL 6% 5% 7% 3% 1% CONSTRUCTION 22% NEW NON-RESIDENTIAL 5% 3% 4% 1% 2% CONSTRUCTION 15% 13% 21% 10% 5% RENOVATION / INFRAST. 1% 50% INDUSTRIES 13% 13%2 NORTHERN SOUTHERN AMERICAS ASIA-PACIFIC HPS EUROPE EUROPE - 21% 5% 21% 24% ME & AFRICA 29% 1. Saint-Gobai
Slide 33: Continued State Support in Energy Renovation
CONTINUED STATE SUPPORT IN ENERGY RENOVATION AT EUROPEAN LEVEL AT MEMBER STATE LEVEL EED – Energy Efficiency Directive Rental ban for the worst-performing dwellings (G-class EPC) from 2025, including tourist accommodations Requirement for Member states to renovate ¼ of public buildings between 2023
Slide 34: A Fully Regionalized Organization to Accelerate Growth
A FULLY REGIONALIZED ORGANIZATION TO ACCELERATE GROWTH 2024 SALES 2024 SALES BASED ON FORMER ORGANIZATION PRO FORMA FOR FULLY REGIONAL ORGANIZATION X% Operating margin X% Operating margin Eastern Middle East Europe* & Africa* Northern Europe Southern Europe, Southern Europe, Middle East Middle East
Slide 35: H1 2025 Results and Outlook
H1 2025 RESULTS AND OUTLOOK August 1st, 2025 Museum of The Future – Dubai, United Arab Emirates • Gyproc (Glasroc® X), Isover insulation, Weber flooring and façade mortars, Ecophon ceilings