REG - Compagnie St-Gobain - Annual Financial Report
27/02/2025 18:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250227:nRSa7847Ya&default-theme=true
RNS Number : 7847Y Compagnie de Saint-Gobain 27 February 2025
The worldwide leader
in light & sustainable construction
2024 ANNUAL RESULTS
Record operating margin and free cash flow
· Sales growth in H2 2024, with a sequential improvement in organic
growth
· Record operating margin (11.4%), free cash flow (€4.0bn) and
recurring EPS, despite a difficult environment in new construction in Europe
· More than 2/3 of pro forma operating income now generated in
high-growth geographies: North America, Asia and emerging countries
· 4 strategic acquisitions finalized over the past 12 months for €5bn:
CSR, Bailey, OVNIVER (Cemix brand) and FOSROC
· Strong value creation for shareholders: total shareholder return (TSR)
of 32% in 2024. Dividend of €2.20 (up 5%) recommended for 2024. Share
buyback program completed one year earlier than expected, with a new €400m
target set for 2025
· 2025 outlook: the Group expects an operating margin of more than 11.0%
Benoit Bazin, Chairman and Chief Executive Officer of Saint-Gobain, commented:
"Our 2024 results once again demonstrate the success of Saint-Gobain's new
profile, with the Group delivering a very strong operating performance despite
a mixed macroeconomic environment. The roll-out of our comprehensive range of
sustainable and innovative solutions for our customers along with our local
performance-driven organization have enabled us to report new record results.
Over the past 12 months, Saint-Gobain also completed four landmark
acquisitions, which are perfectly aligned with our strategy of worldwide
leadership in light and sustainable construction and located in regions with
strong structural growth: CSR in Australia, Bailey in Canada and, in
construction chemicals, Cemix in Mexico and FOSROC in India and the Middle
East. I'm once again extremely grateful for the dedication and talent shown by
all our teams, who are key to our success.
I am confident that 2025 will be another successful year for Saint-Gobain,
thanks to a good dynamic in most of our regions, a gradual recovery in Western
Europe, and the integration of our recent acquisitions. In this context, the
Group is expecting an operating margin of more than 11.0% in 2025, above the
initial objective of its strategic plan.
After the success of the "Grow & Impact" plan, we will share the Group's
new ambitions at our Investor Day on October 6, reflecting the continuation of
our strategy of worldwide leadership in light and sustainable construction
along with our growth and outperformance plan."
Successful strategic execution
Strong financial performance
· All of the Group's financial objectives set out in the "Grow &
Impact" plan in 2021 have been achieved, setting the Group on a financial
trajectory marked by growth in earnings, cash flow and value creation. On
average over the four-year period 2021-2024, the Group delivered organic
growth of 3.9%(1), operating margin of 10.8%, a free cash flow conversion
ratio of 59% and ROCE of 15.4%.
Attractive profitable growth profile
· An acceleration in the Group's geographic development in regions with
strong profitable growth: North America (34%) and Asia and emerging countries
(34%) now account for 68% of operating income (pro forma for recent changes in
Group structure) and Western Europe 32%;
· Creation of a worldwide leader in construction chemicals, with
€6.5 billion in annual sales (pro forma for recent changes in Group
structure): the acquisitions of Cemix and FOSROC reinforce Saint-Gobain's
presence in high-growth emerging countries, particularly Mexico, India and the
Middle East, and perfectly complement the geographical positions and
technologies of Weber, Chryso and GCP;
· A local organization: 90% of CEOs are native to their country,
resulting in close proximity to customers, good pricing power, efficiency
gains, high accountability and a capacity to adapt quickly to ever-changing
environments across the globe;
· Around 40% of Group sales rotated since 2018: €9.6 billion in sales
have been divested (EBITDA margin of less than 5%) and €6.8 billion in sales
acquired (EBITDA margin of around 20%);
· Smooth integration of recent acquisitions, with synergies confirmed:
Chryso and GCP reported an EBITDA margin of 20%, up 140 basis points in 2024
(following a rise of more than 400 basis points in 2023); CSR, an EBITDA
margin of 18.1% on a full-year basis (consolidated as of July 9, 2024); and
recent Canadian acquisitions, an EBITDA margin of 19% on a full-year basis for
Bailey (consolidated as of June 3, 2024), Building Products of Canada (2023)
and Kaycan (2022);
· Strongly value-creating shareholder return policy: total shareholder
return of 156% over a four-year period, with €5.6 billion returned to
shareholders through share buybacks and dividends. With €2 billion worth of
shares bought back since 2021, the Group has completed its five-year program
(2021-2025) one year earlier than expected, and is announcing a new €400
million target for 2025.
Differentiated offer of sustainable solutions: a competitive advantage
· Sustainable solutions offer: almost 3/4 of sales, based on
differentiated and innovative systems for faster and higher-quality
construction, reinforcing the Group's mix along with its ability to capture a
larger part of the value chain:
o Oraé(®) (low-carbon glass in Europe and India), Gyproc SoundBloc
Infinaé 100 (the Group's first plasterboard made from 100% recycled gypsum,
in the UK), ClimateFlex(®) (a roofing technology offering enhanced resistance
to extreme weather events), Lanaé(®) (a glass wool designed from c.50%
recycled glass and a biosourced binder), Enaé(®) (a new range of mortars
with a low carbon footprint), EnveoVent (high-performance façade systems),
and EnviroMix(®)C-Clay (a range of admixtures developed by Chryso enabling
the reduction of cement's carbon footprint by up to 40% with the use of
calcined clay);
o
1. Average organic growth over 2021-2024: +6.9% in 2021 (+13.8% in 2021/2019
divided by 2), +13.3% in 2022, -0.9% in 2023, -3.6% in 2024.
Approximately 60% of products manufactured by the Group are covered by life cycle analyses (LCA), meeting the growing demand for the environmental certification (LEED or BREEAM) of buildings.
· Environmental performance supporting the Group's range of sustainable
solutions and aligned with the Group's objectives:
o 34% pro forma reduction in scope 1 & 2 CO(2) emissions (to 8.9 million
tonnes(1)) compared with 2017, with CSR and Bailey consolidated on a full-year
basis;
o 67% of electricity from carbon-free sources, versus 57% in 2023. Four
major new power purchase agreements signed in 2024 (France, Italy and
Romania).
Combining growth with responsibility
· Outstanding employee engagement, with all indicators up since 2019:
89% of the Group's employees took part in the me@Saint-Gobain annual survey,
with an engagement rate of 84% and with 89% of employees proud to work for
Saint-Gobain (versus a benchmark average of 75%);
· Solid safety performance: the Group's accident frequency rate with and
without lost time (TRAR at 1.4) has been halved over the last seven years;
· Thought leadership in accelerating the transition to more sustainable
construction: as part of the "Sustainable Construction Observatory" launched
by Saint-Gobain in 2023, "Sustainable Construction Talks" were held in New
York during the Climate Week, in Brussels, and at the World Economic Forum in
Davos, to highlight the construction industry's role in the achievement of
sustainable development goals and to present climate change adaptation
solutions.
Group operating performance
Sales were robust, at €46.6 billion as reported, down 2.2% at constant
exchange rates over the year, with a return to growth in the second half,
supported by acquisitions and the sequential improvement in organic growth.
The currency effect was a negative 0.7% on sales for the year, and a negative
1.1% in the second half.
Changes in Group structure had a positive 1.4% impact on sales in the year and
a positive 3.9% impact in the second half, benefiting mainly from recent
acquisitions in Asia-Pacific (CSR in Australia), North America (Bailey and
Building Products of Canada) and construction chemicals, even before the
integration of Cemix (mid-January 2025) and FOSROC (during February 2025). The
optimization of the Group's profile also continued with the effect of
divestments, particularly in distribution (UK), pipe with the sale of the
drainage business for buildings (PAM Building), glass processing activities,
foam insulation (UK) and railing and decking (US).
On a like-for-like basis, sales were down 3.6% over the year, with as expected
a clear sequential improvement between the first half (down 4.9%) and the
second (down 2.3%). Activity remained stable or increased in the second half
in all segments excluding Europe, where new construction markets remained
difficult, notably in France.
Group prices were down 0.6% over the year and down 0.3% in the second half,
generating a positive price-cost spread over the year and a slightly positive
spread in the second half, thanks to disciplined execution and the reduction
in certain raw material and energy costs in 2024. Volumes were down 3.0% over
the year, with a sequential improvement between the first half (down 3.9%) and
the second (down 2.0%), in line with the Group's expectations for the year.
Operating income was €5,304 million, representing a new record high at
constant exchange rates (2023 exchange rates). The operating margin also hit a
new all-time high of 11.4% in 2024 (versus 11.0% in 2023). Despite a difficult
environment in Europe, all segments reported either an increasing or stable
operating margin, reflecting the strength of the Group's strategic positioning
and its very good operating performance.
1. CO(2) emissions of 8.5 million tonnes in 2024 excluding CSR and Bailey.
Segment performance (like-for-like sales)
Europe: sequential improvement in sales and margin growth
Sales in Europe were down 6.3% over the year but improved significantly
between the first half (down 7.9%) and the second (down 4.5%) with new
construction markets strongly down, while renovation (around 60% of sales) was
more resilient. Despite the decrease in volumes, the operating margin
increased slightly to a new record-high of 8.4%, thanks to an optimized
business profile, proactive productivity measures, a well-managed price-cost
spread, a positive mix and growth in specified sales.
- Northern Europe was down 4.9% over the year, with a clear sequential
improvement between the first half (down 7.1%) and the second (down 2.5%),
confirming that the Region has already hit a low point. Volumes were positive
in all of our main countries in the fourth quarter, except in Nordic
countries, which continued to suffer from the significant decline in new
construction. In the UK, volumes returned to growth, driven by the
comprehensive range of solutions and systems. Germany reported a second
consecutive quarter of volume growth, despite an uncertain macroeconomic
situation. Eastern Europe saw good momentum in volumes throughout the year.
- Southern Europe, Middle East & Africa contracted 7.3% over the year,
with a slight sequential improvement between the first half (down 8.6%) and
the second (down 5.9%). All countries appear to have already hit a low point,
including France in fourth-quarter 2024 amid political uncertainty.
Saint-Gobain continued to outperform significantly in France thanks to its
strong exposure to renovation and its comprehensive range of innovative
solutions, with the new construction market remaining significantly down.
Thanks to its specified sales offer adapted to each market segment,
Saint-Gobain Solutions France was able to win several major tenders in the
education, health and commercial sectors. France's leading indicators were
also encouraging in terms of lending activity and the increase in the number
of transactions for existing properties. Spain and Italy delivered solid
growth with market share gains, along with the Middle East and Africa which
reported double-digit growth thanks to the success of recent acquisitions and
investments.
Americas: sales growth and record margin
The Region delivered 1.1% organic growth in 2024 (1.0% in the second half),
driven by the good level of activity in North America and by the expected
improvement in Latin America quarter after quarter. Operating income hit a new
record high (€1.8 billion), along with the operating margin at 18.0% (versus
16.8% in 2023), supported by rigorous pricing and cost management as well as
an upturn in activity in the second half in Latin America.
- North America was up by 1.9% over the year (virtually stable in the second
half), driven by prices and resilient volumes in the renovation market, while
new construction stabilized at a good level. The Group benefited from the
recent integration of its Canadian acquisitions (Kaycan, Building Products of
Canada and Bailey), and from its comprehensive range of light construction
solutions with high value-add for customers. Given the saturation of its
production facilities, the Group has launched additional capacity to meet the
needs of a structurally growing market, requiring a catch-up in residential
construction. This new capacity for plasterboard, roofing and glass mat
underlayment should come on stream from mid-2025.
- Latin America contracted slightly, down 1.4% over the year thanks to the
recovery in the second half (up 4.9%), driven by Brazil which benefited from
market share gains in light construction, namely façade and plasterboard with
a third production line opened in the first half. The other countries in the
Region benefited from the enhanced offering and mix, especially Mexico. The
acquisition of Cemix, completed on January 15, 2025, will strengthen
Saint-Gobain's construction chemicals presence in the fast-growing markets of
Mexico and Central America.
Asia-Pacific: sales growth and margin remaining at a record high
The Region delivered 0.6% organic growth in 2024, driven by good momentum in
India, despite the downturn in China. The operating margin remained at a
record high of 12.6%, supported by volumes, as well as good pricing and cost
management.
India saw further market share gains, with significant volume growth of
approximately 10%, benefiting from the strength of the Saint-Gobain brand in
the country and from its comprehensive and innovative range of sustainable
solutions, allowing the Group to outperform in multi-family housing and
non-residential markets. In a new construction market that remains sharply
down in China, the Group continued to outperform thanks to its exposure to
renovation and to its digital sales model. South-East Asia reported growth,
driven by its second-half performance and strong momentum in Indonesia,
benefiting from the enhancement of its range of innovative solutions, as well
as from Vietnam, which won new customers thanks to the rollout of customized
logistics and digital solutions. The integration of CSR in Australia -
completed on July 9, 2024 - is progressing well, with a good operating
performance in the second half.
High Performance Solutions (HPS): sequential improvement in organic growth and
slight growth in operating margin
HPS reported like-for-like sales down 1.9% over the year, with a sequential
improvement between the first half (down 3.5%) and the second (down 0.3%). The
operating margin was up slightly at 12.1%, thanks to well-managed costs and
prices which offset the lower volumes.
- Businesses serving global construction customers were up by 0.5% over the
year and accelerated to grow 3.9% in the second half, driven by both Adfors
reinforcement solutions against a weaker comparison basis, and by the
Construction Chemicals business unit (up 3.1%). The good trends in Chryso and
GCP sales continued, driven by infrastructure projects and the innovation
drive for decarbonization in the construction sector. In 2024 Chryso
contributed to the construction of the largest hydroelectric plant in India,
supplying cutting-edge admixtures that met high-level technical
specifications. Eight new industrial sites or production lines were opened in
the year (new plants in the Philippines, Vietnam, Australia, Colombia, Brazil
and Finland; two new lines in India) - leveraging Saint-Gobain's global reach
to set up production facilities in record time at existing production sites -
and construction work began on six new facilities (US, Canada, Mexico, UK,
Turkey and Morocco). The completion of the FOSROC acquisition further
strengthens the Group's construction chemicals presence in countries with
strong structural growth (India, Middle East and Asia-Pacific).
- Mobility sales contracted 2.2% over the year, but the business captured
market share on high value-added models thanks to its differentiation and
investments for innovation. It also benefited from productivity gains, notably
with the optimization of its industrial footprint, following the closure of
Spain's Avilès plant in June 2024.
- Businesses serving Industry were down 2.8% over the year, but stabilized
in the second half (up 0.6%), supported by decarbonization technologies and a
rebound in sales of specialty materials, which saw growth in their order book
at the end of 2024.
Analysis of the 2024 consolidated financial statements
The 2024 consolidated financial statements were approved by Saint-Gobain's
Board of Directors at its meeting of February 27, 2025 and have been audited
and certified by the statutory auditors.
In € million 2023 2024 % change
Sales 47,944 46,571 -2.9%
Operating income 5,251 5,304 +1.0%
Operating margin 11.0% 11.4%
Operating depreciation and amortization 1,986 2,137 +7.6%
Non-operating costs -236 -236 0.0%
EBITDA 7,001 7,205 +2.9%
Capital gains and losses on disposals, asset write-downs and impact of changes -784 -691 +11.9%
in Group structure
Business income 4,231 4,377 +3.5%
Net financial expense -425 -457 -7.5%
Dividends received from investments 1 2 n.s
Income tax -1,060 -994 +6.2%
Share in net income of associates 9 6 n.s
Net income before non-controlling interests 2,756 2,934 +6.5%
Non-controlling interests 87 90 +3.4%
Net attributable income 2,669 2,844 +6.6%
Earnings per share(1) (in €) 5.26 5.69 +8.2%
Recurring net income(2) 3,416 3,474 +1.7%
Recurring(2) earnings per share(1) (in €) 6.73 6.95 +3.3%
EBITDA 7,001 7,205 +2.9%
Depreciation of right-of-use assets -692 -727 -5.1%
Net financial expense -425 -457 -7.5%
Income tax -1,060 -994 +6.2%
Capital expenditure(3) -2,029 -2,049 -1.0%
o/w additional capacity investments 837 842 +0.6%
Changes in working capital requirement 278 211 -24.1%
Free cash flow(4) 3,910 4,031 +3.1%
Free cash flow conversion(5) 62% 62%
ROCE 15.9% 14.3%
Lease investments 828 844 +1.9%
Investments in securities net of debt acquired(6) 1,306 3,684 +182.1%
Divestments 947 221 -76.7%
Consolidated net debt 7,393 9,778 +32.3%
1. Calculated based on the weighted average number of shares outstanding
(499,715,108 shares in 2024, versus 507,282,902 in 2023).
2. Recurring net income: net attributable income excluding capital gains
and losses on disposals, asset write-downs, amortization of intangible assets
related to PPA, IFRS 3 acquisition costs and other non-recurring items
(material non-recurring provisions, impacts of hyperinflation, etc.).
Two items have been removed from recurring net income: hyperinflation (-€61
million in 2024 versus -€39 million in 2023) and amortization of intangible
assets related to PPA (-€233 million in 2024 versus -€181 million in
2023). Netted of related tax effects and minority interests, the impact
amounts to -€227 million in 2024 versus -€174 million in 2023.
3. Capital expenditure = investments in tangible and intangible assets.
4. Free cash flow = EBITDA less depreciation of right-of-use assets, plus
net financial expense, plus income tax, less capital expenditure excluding
additional capacity investments, plus change in working capital requirement.
5. Free cash flow conversion ratio = free cash flow divided by EBITDA,
less depreciation of right-of-use assets.
6. Investments in securities net of debt acquired: €3,684 million in
2024, of which €3,465 million in controlled companies.
EBITDA was up 2.9% to a new record high of €7,205 million, with the margin
up 90 basis points to 15.5%. EBITDA includes stable non-operating costs of
€236 million.
The net balance of capital gains and losses on disposals, asset write-downs
and the impact of changes in Group structure represented an expense of €691
million (€784 million in 2023). It reflects €291 million in asset
write-downs relating essentially to site closures and disposals
(€238 million in 2023), €233 million in Purchase Price Allocation (PPA)
intangible amortization (€181 million in 2023), and €167 million in
disposal losses and impacts relating to changes in Group structure (€365
million in 2023).
Recurring net income rose 1.7% to a record high of €3,474 million. The tax
rate on recurring net income was 24%.
Capital expenditure totaled €2,049 million. The Group opened 24 new plants
and production lines focused on the structurally high-growth markets of North
America, Asia and emerging countries, as well as construction chemicals.
Free cash flow came in at a new record-high of €4,031 million. The
conversion ratio remained stable at 62%, with very good management of
operating working capital requirement (WCR), which represented 12 days' sales
at end-2024 compared to 13 days' sales at end-2023.
ROCE was 14.3% in 2024, resulting in strong value creation for our
shareholders.
Investments in securities totaled around €2.9 billion (net of CSR short- and
medium-term monetizable real estate assets), including mainly €1.9 billion
for the CSR acquisition in Australia and €0.6 billion for Bailey in Canada.
Other notable acquisitions included His Yalıtım in insulation in Turkey, ICC
in technical insulation in the US, Glass Service (digital solutions to
accelerate the decarbonization of glass furnaces), and acquisitions in
construction chemicals (Kilwaughter in the UK, Izomaks in Saudi Arabia, IMPTEK
in Ecuador, Technical Finishes in South Africa and R.SOL in France). Overall,
the Group's acquisitions in 2024 represent full-year sales of around €1.8
billion and around €375 million in EBITDA (including synergies from year 3
onwards), or 7.7x EBITDA.
Divestments represented €221 million and reflected disposals of tangible
assets, PAM Building and foam insulation activities in the UK.
Net debt was €9.8 billion with a net debt to EBITDA ratio of 1.4x versus
1.1x at end-2023. Pro forma for the recently completed acquisitions of Cemix
and FOSROC, the net debt to EBITDA ratio remains at the lower end of the
target range (between 1.5x and 2.0x).
Attractive shareholder return policy
In 2024, the dividend paid and share buybacks carried out represented around
€1.5 billion:
· A dividend of €1,045 million was paid in respect of 2023;
· An amount of €420 million was allocated for share buybacks in 2024
(net of employee share creation), reducing the number of shares outstanding to
497 million at end-2024 (502 million at end-2023).
Saint-Gobain's Board of Directors decided to recommend to the Shareholders'
Meeting on June 5, 2025 the payment of a cash dividend up 5% to €2.20 per
share for 2024 (€2.10 for 2023). The ex-dividend date has been set at June
9, 2025 and the dividend will be paid on June 11, 2025.
With €2 billion in share buybacks since 2021, the Group has completed - one
year earlier than expected - the objective announced in 2021 under its "Grow
& Impact" plan (2021-2025). The Group will continue its policy with a new
target of €400 million in share buybacks for 2025 (net of employee share
creation).
Strategic priorities and 2025 outlook
In 2025 the Group will continue to implement the strategic priorities of its
"Grow & Impact" plan:
1) Continue our initiatives focused on profitability and free cash flow
generation
· Constant focus on margin through management of the price-cost spread
and ongoing productivity and industrial cost-saving initiatives;
· Capital expenditure around 4.5% of sales, with strict allocation to
structurally high-growth markets.
2) Outperform our markets by strengthening our profitable growth profile
· Enrich our comprehensive range of integrated, differentiated and
innovative solutions offering sustainability and performance for our
customers;
· Leverage the full potential from the integration of recent
acquisitions;
· Continue to enhance the Group's profile through value-creating
acquisitions and divestments.
3) Continued focus on our ESG roadmap as worldwide leader in light and
sustainable construction
· Promote our positive-impact sustainable solutions - low-carbon and
with high-recycled-content - among our customers;
· Extend the decarbonization of construction to the entire value chain,
playing our full role as leader in light and sustainable construction across
the globe.
In a macroeconomic environment that remains contrasted, Saint-Gobain will
continue to demonstrate a very strong operating performance in 2025. Assuming
no major disruption linked to geopolitics, the Group expects the following
trends:
· Europe: construction markets stabilizing, with a gradual recovery
country-by-country expected in the second half;
· Americas: a good level of activity maintained in North America and
Latin America;
· Asia-Pacific: growth led mainly by India, South-East Asia and the
integration of CSR in Australia;
· High Performance Solutions: dynamic growth in Construction Chemicals;
Mobility to hold firm thanks to its high value-added solutions; gradual
recovery in growth expected for most industrial markets.
Saint-Gobain expects an operating margin of more than 11.0% in 2025
Financial calendar
An information meeting for analysts and investors will be held at 8:30am (GMT
+1) on
February 28, 2025 and will be streamed live on Saint-Gobain's website:
www.saint-gobain.com (http://www.saint-gobain.com)
Analyst/investor relations Press relations
Vivien Dardel: +33 1 88 54 29 77 Patricia Marie: +33 1 88 54 26 83
Floriana Michalowska: +33 1 88 54 19 09 Laure Bencheikh: +33 1 88 54 26 38
Alix Sicaud: +33 1 88 54 38 70 Yanice Biyogo: +33 1 88 54 27 96
James Weston: +33 1 88 54 01 24
Sales for the first quarter of 2025: Thursday April 24, 2025, after close of trading on the Paris stock exchange.
· First-half 2025 results: Thursday July 31, 2025, after close of
trading on the Paris stock exchange.
· Investor Day: Monday October 6, 2025.
Glossary:
- Indicators of organic growth and like-for-like changes in sales/operating
income reflect the Group's underlying performance excluding the impact of:
• changes in Group structure, by calculating indicators for the year
under review based on the scope of consolidation of the previous year (Group
structure impact);
• changes in foreign exchange rates, by calculating indicators for
the year under review and those for the previous year based on identical
foreign exchange rates for the previous year (constant currency impact);
• changes in applicable accounting policies.
- EBITDA = operating income plus operating depreciation and amortization, less
non-operating costs.
- Operating margin = operating income divided by sales.
- ROCE (Return on Capital Employed) = operating income for the year adjusted
for changes in Group structure, divided by segment assets and liabilities at
year-end.
- ESG = Environment, Social, Gouvernance.
- Purchase Price Allocation (PPA) = the process assigning a fair value to all
assets and liabilities acquired and of allocating the residual goodwill as
required by IFRS 3 and IAS 38 for business combinations. PPA intangible
amortization relates to amortization charged against brands, customer lists,
and intellectual property, and is recognized in "Other business income and
expenses".
- Pro forma = data including the impact of changes in Group structure (signed
or closed) over the period.
- TRAR = total recordable accident rate with and without lost time for 1
million hours worked for the Group's employees, temporary workers and
permanent subcontractors.
- TSR = total shareholder return, including changes in the share price,
dividends received and reinvested in shares and transactions in the Company's
shares.
All indicators contained in this press release (not defined above or in the
footnotes) are explained in the notes to the financial statements as at
December 31, 2024, available by clicking here:
https://www.saint-gobain.com/en/news/2024-results
(https://www.saint-gobain.com/en/news/2024-results)
Net debt Note
10
Non-operating costs Note 5
Operating income Note
5
Net financial expense Note 10
Recurring net income Note 5
Business income Note 5
Working capital requirement Note 5
Important disclaimer - forward-looking statements:
This press release 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", "anticipate", "believe", "intend", "estimate", "plan" and
similar expressions. Although Saint-Gobain believes that the expectations
reflected in such forward-looking statements are based on reasonable
assumptions as at the time of publishing this document, investors are
cautioned that these statements are not guarantees of its future performance.
Actual results may differ materially from the forward-looking statements as a
result of a number of known and unknown risks, uncertainties and other
factors, many of which are difficult to predict and are generally beyond the
control of Saint-Gobain, including but not limited to the risks described in
the "Risk Factors" section of Saint-Gobain's Universal Registration Document
and the main risks and uncertainties presented in the half-year 2024 financial
report, both documents being available on Saint-Gobain's website
(www.saint-gobain.com). Accordingly, readers of this document are cautioned
against relying on these forward-looking statements. These forward-looking
statements are made as of the date of this document. Saint-Gobain disclaims
any intention or obligation to complete, update or revise these
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by applicable laws and regulations.
This press release does not constitute any offer to purchase or exchange, nor
any solicitation of an offer to sell or exchange securities of Saint-Gobain.
For further information, please visit www.saint-gobain.com
(http://www.saint-gobain.com)
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END FR PKOBBOBKDCBBRecent news on Compagnie de Saint Gobain SA
See all newsREG - Compagnie St-Gobain - 1st Quarter Results
AnnouncementREG - Compagnie St-Gobain - Saint-Gobain featured on CDP’s “Climate A List”
AnnouncementREG - Compagnie St-Gobain - Bond issue
AnnouncementREG - Compagnie St-Gobain - Annual Financial Report
AnnouncementREG - Compagnie St-Gobain - Appointment
Announcement