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Sales rose 3.4% in local currencies to €23.9 billion, supported by strategic acquisitions and strong growth in Asia and emerging markets.

Key highlights include:

• Record operating margin: 11.8% (up from 11.7% in H1 2024)
• EBITDA and operating income up 7.0% and 5.0% respectively (in local currencies)
• Free cash flow conversion ratio: 63%
• Strategic acquisitions totaling €1.7 billion, notably Cemix (Latin America) and FOSROC (India and Middle East)
• Balanced earnings profile across three geographic zones: North America (35%), Asia & emerging countries (33%), Western Europe (32%)

Chairman & CEO Benoit Bazin praised the Group’s resilience in a mixed macroeconomic and geopolitical environment, highlighting the benefits of Saint-Gobain’s decentralized, country-led operating model and its growing portfolio of sustainable, innovative solutions.

Regional performance:

• Europe: Slight sales decline (-2.2%) but sequential improvement and stable prices; operating margin at 8.5%
• Americas: Latin America up 10.4%; North America down 1.5%; record regional margin of 19.7%
• Asia-Pacific: Sales up 3.9% led by India and South-East Asia; record margin of 13.4%
• High Performance Solutions: Growth in construction-related and mobility businesses, resilient margins despite industrial softness in Europe

2025 outlook: Saint-Gobain reaffirms its full-year guidance, expecting an operating margin above 11.0%, supported by its “Grow & Impact” strategic plan focused on profitability, sustainability leadership, and value-creating acquisitions.

Full report available here: