Saints Gobain Q1 Report 2024

Like-for-like sales were down 5.8%, impacted by the decline in new construction in Europe but supported by growth in the Americas and Asia-Pacific.

Group prices were down 1.1% but the price-cost spread was positive, thanks to well-managed pricing and the decrease in certain raw material and energy costs.

As expected, volumes were down by 4.7% in first-quarter 2024 – with a negative working day effect of 1.5% at Group level – an improvement at comparable working days on the fourth- quarter 2023 performance (down 4.5%).

Highlights

• The sequential improvement in volumes in Q1 2024 at comparable working days and positive price-cost spread
• Decisive strategic steps reinforcing the Group’s worldwide leadership in light and sustainable construction, with targeted and disciplined capital allocation:
• Geographically, with the announcement of the acquisitions of CSR Limited in Australia and Bailey in Canada
• In construction chemicals, with six acquisitions announced or closed since the start of the year
• Confidence in the 2024 outlook: double-digit operating margin for the fourth consecutive year