Saint-Gobain reports sales increase in Q1 2025

2025-05-01

May 1, 2025 - Saint-Gobain’s sales were up 3.2% to €11.7 billion in the first quarter of 2025. Like-for-like sales were down 0.3%, with growth in the Americas, Asia-Pacific and Northern Europe. Volumes stabilised at comparable working days (down 1.1% at actual working days), compared to Q1 2024 (down 2.6%). Prices were up 0.8%, supported by disciplined execution in a slightly inflationary cost environment overall.

Benoit Bazin, Chairman and CEO, said: “Sales growth in the first quarter reflected the success of the group’s strategic execution and, as expected, improving trends in certain markets, in particular Europe. In a mixed macroeconomic environment and with geopolitical uncertainty requiring ever more regionalisation, Saint-Gobain can count on the strength of its decentralised, country-by-country organisation and on the balanced contribution of its different geographical zones. Thanks to its local value chains - industrial footprint, logistics, procurement, branding, sales and customers - the group is ideally positioned on local construction markets, with no direct exposure to customs tariffs.”

Sales in Europe were down 2.2% over Q1, with a negative volume effect of 1.7%. This was an improvement on Q4 2024 (negative volume effect of 3.3%) with construction markets either stabilising or beginning to recover, depending on the country. The Americas delivered 3.0% organic sales growth, with a good level of activity once again in North America and good momentum in Latin America. The Asia-Pacific region reported organic growth of 3.9%, driven by strong momentum in India, which more than offset the downturn in China.

2025 outlook

Assuming no major slowdown in global growth linked to geopolitical uncertainties, the group expects the following trends:

Europe: construction markets stabilising, with a gradual recovery country-by-country expected in the second half.

Americas: a good level of activity maintained in North America and Latin America.

Asia-Pacific: growth led mainly by India, South-East Asia and the integration of CSR in Australia.

In addition, Saint-Gobain expects an operating margin of more than 11.0% in 2025.