Saint-Gobain sales rise as Asia and emerging markets drive growth
Investing.com -- Saint-Gobain reported its first-half results on Thursday after the close, posting a 3.4% year-over-year increase in sales at constant currencies, reaching €23.9 billion.
The sales increase was driven by strong momentum in Asia and emerging markets and bolstered by recent acquisitions.
Operating income rose 5% in local currencies to a record €2.8 billion, despite currency headwinds.
The group achieved an all-time high operating margin of 11.8%, up from 11.7% the previous year. EBITDA also hit a record, rising 7% in local currencies.
Chairman and CEO Benoit Bazin said the performance “once again demonstrates the strength of Saint-Gobain’s new profile,” with earnings growth despite a “wait-and-see environment in some markets.”
He added, “Asia and emerging countries continued to drive growth for the Group and Europe reported a further sequential improvement, while North America saw a slight decrease in sales.”
The group made €1.7 billion in acquisitions in construction chemicals, including Cemix in Latin America and FOSROC in India and the Middle East, helping reinforce its footprint in high-growth markets.
The moves are said to have contributed to a 3.9% positive impact on revenue from changes in group structure.
Sales declined 0.5% on a like-for-like basis, with stable volumes on comparable working days. Price increases of 1% helped offset slight volume weakness.
Saint-Gobain confirmed its 2025 outlook, expecting a full-year operating margin of over 11% and strong performance in the second half, assuming no major macroeconomic deterioration.
