Saint-Gobain confirms margin outlook as Q3 sales rise 2.5% like-for-like

Saint-Gobain announced its Q3 sales exceeding expectations and reaffirmed its full-year margin outlook. The company's revenue reached €11.62 billion, surpassing the estimated €11.58 billion. Sales on a like-for-like basis rose by 2.5%, slightly below the 3.6% consensus forecasted by UBS. Throughout the first nine months, like-for-like sales increased by 1.2%.

The company attributed the price increase of 3.2% to the sale of high-value-added solutions during a period of heightened inflation. However, volumes experienced a slight decline. In terms of regional performance, Asia-Pacific led with an 8% like-for-like growth, driven by double-digit organic growth in India and robustness in South-East Asia.

Europe experienced a 2.5% increase, while Northern Europe saw a 3.4% growth, although the U.K. faced challenges due to the construction downturn. Southern Europe, the Middle East, and Africa grew by 1.6%, while the Americas increased by only 0.6%. North America's growth was 2%, with Latin America contracting by 3%. North American roofing and plasterboard were impacted by the absence of significant weather events and reduced new residential construction.

Construction chemicals continued to outperform, rising 6.3% like-for-like. Saint-Gobain disclosed a rotation of €3.3 billion in sales this year, including 17 acquisitions, with the Dahl divestment expected to conclude on November 2. Looking ahead, the company anticipates like-for-like sales growth for the second half of 2026 amidst a fluctuating macroeconomic landscape and intricate geopolitical situation. Saint-Gobain remains confident in its EBITDA margin of over 15% for 2026.