France: Saint-Gobain’s sales rose by 1.6% on a like-for-like basis to Euro25bn in the first half of 2023. This was driven by the group’s High Performance Solutions division, sales in Asia-Pacific and improved business in North America. Sales grew in all regions apart from Northern Europe. However, in real terms, sales fell by 2% year-on-year from Euro25.5bn in the same period 2022. The group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 1.5% to Euro3.74bn from Euro3.68bn.
Benoit Bazin, Chief Executive Officer of Saint-Gobain, said that there had been a “moderate slowdown in its markets in the short-term.” He added “Over 60% of our earnings are now generated in North America, Asia and emerging countries, where trends are improving and the growth outlook is supported by demographics and rapid urbanisation. In Western Europe, renovation - our biggest market - continues to show good resilience as expected, with stimulus measures and regulations aimed at accelerating the path to carbon neutrality; structural demand for new construction is growing, even though additional financing costs are temporarily impacting the sector.”
