Compagnie de Saint-Gobain
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Compagnie de Saint-Gobain (SGO) investor relations material

Compagnie de Saint-Gobain Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary27 Feb, 2026

Executive summary

  • Achieved all 2021–2025 financial and strategic targets, including 3.0% average organic growth, €46.5bn sales, and a stable 15.5% EBITDA margin.

  • Positioned as a leader in sustainable construction, with decisive portfolio optimization, global expansion, and 39 acquisitions including FOSROC and Cemix.

  • Outperformed in Asia and emerging markets, returned to growth in Europe (notably in H2), and maintained stable margins in North America despite market headwinds.

  • Construction chemicals segment grew nearly 16% in local currencies, driven by strategic acquisitions.

  • Set the stage for the new "Lead & Grow" plan for 2026–2030.

Financial highlights

  • Sales grew 2.1% in local currencies to €46.5bn; like-for-like sales were stable, with volumes down 1.3% and prices up 0.8%.

  • EBITDA reached €7.2bn (+3.4% in local currencies), with a stable margin at 15.5%.

  • Recurring net income was €3.3bn; free cash flow reached €3.8bn with a 58% conversion ratio.

  • Net debt/EBITDA ratio stable at 1.4x; €1.5bn returned to shareholders via dividends and buybacks.

  • Dividend per share recommended at €2.30 (+4.5%).

Outlook and guidance

  • 2026 EBITDA margin expected to exceed 15%, with H1 impacted by extreme weather in Europe and North America.

  • Anticipates normalization and improvement in volumes from Q2, with positive momentum in Europe and strong growth in Asia and Latin America.

  • Plans for €2bn in buybacks and €6bn in dividends from 2026–2030.

  • Portfolio rotation to exceed 20% of sales by 2030, with active M&A and divestitures in 2026.

  • Free cash flow conversion ratio targeted above 50% for 2026–2030.

Detail Lead & Grow's non-residential growth drivers
North America: Outperformance drivers and margin resilience
Rationale for 2025 divestments and future alignment
Data center project conversion rate
FX impact on high-margin regions
US roofing capacity expansion rationale
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Next Compagnie de Saint-Gobain earnings date

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Q1 2026 TU23 Apr, 2026
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Frequently asked questions

Compagnie de Saint-Gobain S.A. designs, manufactures, and distributes materials and solutions for building, construction and environmental protection. The Company operates in four segments: Plastics, Construction Products, Environnement, and Composites. Its products are used in home construction, insulation materials for the automotive sector, electrical and electronics equipment and industrial packaging applications. Its Plastics segment offers polycarbonate (PC) resins and engineering plastics that are used in protective films, medical devices and optical films; resins (PMMA), modified polybutylene terephthalate (PBT) manufactured into injection molded parts and post-consumer recycled materials; resins (PMMA) based on petrochemicals; and glass fibers that are distributed to various industries including aerospace, oil exploration platforms and high technology instruments. Compagnie de Saint-Gobain S.A is based in Courbevoie, France.

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