Saint-Gobain Half-Year Report 2023

First-half 2023 once again demonstrated the Group’s resilience with a record operating margin of 11.3%. Like-for-like sales rose 1.6% versus first-half 2022, driven by High Performance Solutions, Asia-Pacific and the upturn in trading in North America. In an environment that remains inflationary, the Group continues to effectively serve and support its customers while managing energy and raw material cost evolution. Prices were up by 7.9% over the period (up 10.2% in the first quarter and up 5.9% in the second quarter, reflecting sequential price stability), wing
to price increases implemented last year and certain additional measures taken locally, generating a positive price-cost spread overall.

The Group’s operating margin hit another record-high of 11.3% in first-half 2023, versus 11.0% in first-half 2022, thanks notably to the rollout of initiatives set out in its “Grow & Impact” plan: an optimized business profile (one-third of sales rotated since 2018), increased pricing power (high added-value solutions provided to our customers and constant focus on the pricecost spread) and various proactive measures to adapt to local markets.