Saint-Gobain Group H1 Results Announced: Growth Achieved Across All Regions in Q2, Outstanding Performance

Shanghai, August 10, 2026 /PRNewswire/ --

• Achieved 3.5% organic sales growth in Q2 (0.7% for the first half of the year), driven by contributions from all regions (Asia-Pacific +7.0%, Europe +4.1%, Americas +0.9%) and accelerated growth in the Chemical Building Products business, which saw 8.5% organic growth in Q2 (5.3% for H1) , showing outstanding performance;
• Strong operational execution, with an EBITDA margin of 15.4% and a free cash flow conversion rate of 65%;
• Strengthened the group's profitable growth portfolio, having announced approximately €3 billion in sales rotation year-to-date through 14 business acquisitions and 9 divestitures, enhancing the group's footprint in Asia, emerging markets, and North America;
• Outlook confirmed: Against a backdrop of diverging macroeconomic conditions and geopolitical uncertainty, the group expects its EBITDA margin to exceed 15.0% in 2026.

Benoit Bazin, Chairman and CEO of the Group, stated:

"In the first half of 2026, we returned to growth across all regions, once again proving our ability to outperform the market in a contrasting environment. Sales growth was accompanied by excellent operational performance, thanks to the strengths of our local teams and everyone's full commitment, for which I would like to express my gratitude.

Thanks to our unparalleled, comprehensive, innovative, and sustainable solution portfolio, we gained additional market share in the residential sector and established new footprints in non-residential and infrastructure markets. Our outstanding performance in the Chemical Building Products business is a perfect example. Furthermore, major transactions in the first half optimized the group's business structure: we completed business rotations accounting for 7% of sales in just six months, exceeding our targets.

I firmly believe that as the first year of our 'Lead & Grow' strategic plan, 2026 will continue to create value for Saint-Gobain's shareholders and all stakeholders."

Deployment of the 'Lead & Grow' Strategic Plan

Consistent with the objectives set by the 'Lead & Grow' strategic plan, the group has achieved the following significant progress:

Based on differentiated 'star' flagship products, implementing a 'push-pull combined' solution strategy to drive sales growth across the group's entire product line. To achieve performance 1 to 2 percentage points above the market, the group is accelerating cross-selling, specification-based sales, and high-value-added solution sales by leveraging its comprehensive and innovative solutions for residential, non-residential, and infrastructure markets:

• Cross-selling: Countries are leveraging their strong local brands to expand product portfolios in collaboration with distributors. In the United States, the number of distribution outlets selling more than 6 Saint-Gobain products increased by 12% in H1. In Eastern Europe, cross-sales contributed approximately 1% additional growth in H1. In Italy, the proportion of customers purchasing products from more than 4 Saint-Gobain brands reached 49%, an increase of 3% in H1.
  
  
• Specification-based sales: Countries are advancing initiatives in specification-based sales. Thanks to cross-brand key account teams, Latin America increased its specification-based sales share by 1% in H1, reaching 10%. In the construction sector, India saw over one-quarter of its sales come from specifications, particularly by leveraging local expertise in building science and promoting sustainable building solutions to architects.
  
  
• High-value-added sales: France is utilizing comprehensive solutions focused on housing and school renovations to address high temperatures. High-value-added solutions currently account for 30% of the country's sales, and the value of the largest projects in the pipeline has increased by 10%. In Germany, 47% of solutions sold in H1 were high-value-added, such as the Pre.formance renovation solution for multi-family homes (achieving up to 85% energy savings). In Spain, high-value-added solutions also accounted for 47% of sales (e.g., Enveo lightweight curtain wall systems and solar control glass), an increase of 2 percentage points.

Thanks to targeted product development and successful bids for major projects in H1 , the group expanded its business in non-residential and infrastructure sectors:

• In the non-residential sector: The group applied solutions to healthcare facilities (such as the Albert Einstein Medical Center in São Paulo, Brazil, integrating 35 Saint-Gobain solutions), educational facilities (with the launch of customized 'Summer Comfort' solutions, this segment now exceeds €1 billion in annual sales in Europe), hospitality facilities (providing a full suite of Saint-Gobain solutions for the Residency Signature hotel in Madurai, Tamil Nadu, India), and industrial buildings (the ESMC semiconductor plant in Dresden, Germany, currently the largest under construction in Europe). The group's project pipeline for data centers has significantly expanded, with 1,085 projects currently at the stage of pending technical specifications across 32 countries, nearly double last year.
  
  
• In the infrastructure sector: Leveraging technological capabilities in chemical building products and a full range of certified solutions for extreme weather conditions, the group is gaining momentum in tunnels (such as the Orange Gate-Marine Twin project in Mumbai, India) and bridges (such as the Sazlıdere Bridge in Istanbul, Turkey, and bridge projects in Szczecin, Poland). In airports, Saint-Gobain secured multiple contracts, including the new terminal project at Singapore Changi Airport (initially based on waterproofing solutions, later expanding to the group's entire product range). Saint-Gobain also developed corresponding solutions for energy infrastructure (such as wind farms in Germany), defense infrastructure (such as air bases in Poland and the Czech Republic), and transport infrastructure (such as the expansion of Kariba Port in Jakarta, Indonesia).
  
  
• The group possesses an enhanced profitable growth business structure, having announced approximately €3 billion in sales rotation (including acquisitions or divestitures) year-to-date, representing one-third of the five-year target for sales rotation (over 20%).
  
  
• Through strict capital allocation, the group's layout in high-growth markets has been further strengthened. A total of 14 new factories and production lines were opened in H1, along with targeted acquisitions in these areas, providing strong support for group growth (double-digit growth achieved in India, Vietnam, Indonesia, Eastern Europe, and Central America).

Asia-Pacific: Strong overall sales growth in H1

In both Q2 and H1, the Asia-Pacific region achieved a solid 7.0% organic growth (8.4% in local currency), with growth across all major countries and industrial solution businesses, demonstrating significant advantages in value-added and innovation. Driven by volume growth and favorable pricing and cost controls, the EBITDA margin reached 18.5% in H1, a historical high (18.0% in H1 2025).

Led by comprehensive, innovative, and sustainable solutions, India achieved double-digit growth again, expanding its market share. The group delivered new projects in non-residential and infrastructure sectors, such as the Mumbai-Ahmedabad High-Speed Rail Corridor and the Noida International Airport project, benefiting especially from the Fausseur business within Chemical Building Products.

Southeast Asia continued its positive momentum, with double-digit growth in Vietnam, Indonesia, and the Philippines. The region benefited from the expansion of technology-specified solutions for infrastructure projects (such as Singapore Changi Airport and the Philippines North-South Railway Project), improved sustainability performance of solutions (six factories in Vietnam received carbon neutrality certification), and growth in data center business (with a current project pipeline of nearly 50).

Australia saw accelerated growth in Q2 against the backdrop of improving new construction markets. It benefited from its specification-based sales model and large projects, such as the Sydney The Macquarie Collection residential complex under construction.

China continued the growth trend since H2 2025, with performance once again exceeding expectations. The group's largest paper-faced gypsum board production base in Asia officially started operations in Kaiping, Guangdong. This factory, with a total investment of 400 million yuan and covering 120 mu, will produce 64 million square meters of paper-faced gypsum boards annually, significantly improving supply efficiency in the Greater Bay Area and laying a solid foundation for further business expansion.

Strategic Key Tasks

In 2026, the group will focus on fully advancing the key tasks of the 'Lead & Grow' strategic plan:

1) Lead the market by 1 to 2 percentage points, because:

• Saint-Gobain's full range of solutions provides customers with high performance and sustainability;
• National platforms built on local value chains. Local CEOs are responsible for optimization and fully accountable for business scope;
• For various end markets (especially hotels, data centers, healthcare and educational facilities, transport infrastructure)
• Develop customized solutions and equip dedicated teams to expand the footprint in non-residential and infrastructure sectors;
• Saint-Gobain's leading industry position as a global leader in lightweight and sustainable building.

2) Continue to pursue operational excellence to achieve the group's grand goals: Maintain an EBITDA margin between 15% and 18% during 2026-2030, with a free cash flow conversion rate exceeding 50%, relying on productivity improvements and strict management of cost and price-cost spreads.

3) Continue to optimize the group's business structure, combining acquisitions and divestitures to achieve a goal of asset rotation accounting for over 20% of sales by 2030.

4) Strict capital allocation to achieve growth and create value for shareholders:

• Investment focuses on consolidating leadership, high-growth countries, and the Chemical Building Products business;
• Capital expenditure of approximately €2 billion in 2026;
• Provide generous returns to shareholders, targeting regular per-share dividend growth and completing €2 billion in net stock buybacks between 2026 and 2030.

2026 Outlook

Against a backdrop of diverging macroeconomic conditions and geopolitical uncertainty, the group expects sales to grow in H2 2026, with the following trends:

• Europe: Growth, with varying performance across countries;
• Americas: Growth in an uncertain environment;
• Asia-Pacific: Growth driven mainly by India and Southeast Asia.

Saint-Gobain expects its EBITDA margin to exceed 15.0% in 2026.