RECENT RESULTS AND OUTLOOK - Saint-Gobain
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
RECENT RESULTS AND OUTLOOK
01 FIRST-QUARTER 2021 SALES
02 2020 HIGHLIGHTS
03 2020 ACHIEVEMENTS
04 2020 RESULTS
05 STRATEGY
2
Record organic growth in Q1 2021 with a very good start to the year: up 14.3% on Q1 2020 and
up 9.0% on Q1 2019
Strong volume growth, up 11.7% on Q1 2020 and up 5.8% on Q1 2019, reflecting good
momentum on underlying markets and market share gains
Acceleration in the price increase to 2.6% on Q1 2020 in a more inflationary cost environment
3/
2021/2020 2021/2019
+14.3% +9.0%
like-for-like like-for-like
+11.7% +10.9%
Exchange rates: depreciation of the
US dollar, the Brazilian real and
other emerging country currencies
+2.6% Structure: acquisition of Continental
+0.4%
Building Products
Q1 2021 / Q1 2019: organic growth
9,363 -3.8% 10,379
up 9.0% of which volumes up 5.8%
(€m) (€m)
Q1-2020 Exchange Structure Prices Volumes Q1-2021
4/ sales rates sales
H1/H1: -12.3% H2/H2: +4.8%
+14.3%
Prices Volumes
+6.4% +11.7%
+3.2%
+4.6%
+0.6% +0.2% +2.3%
+1.8% +2.6%
+0.9% Acceleration in the price increase in a
-5.5% more inflationary cost environment
-4.9%
-19.4% Strong volume growth
-19.2%
Q1-2020/ Q2-2020/ Q3-2020/ Q4-2020/ Q1-2021/
Q1-2019 Q2-2019 Q3-2019 Q4-2019 Q1-2020
5/
2021/2020 2021/2019
+11.8% +2.7%
like-for-like like-for-like
+11.4% +5.8%
+0.3% +0.4%
-6.3%
1,712 1,811
Q1-2020 sales Exchange Structure Prices Volumes Q1-2021 sales
rates
Mobility Other ind.
Change in
sales on a like- 2021/2020 +10.3% +12.6%
for-like basis
2021/2019 -1.2% +5.2%
6/
2021/2020 2021/2019
+5.1% +4.8%
like-for-like like-for-like
+2.8% +5.2%
+2.3%
+0.3%
-0.2%
3,219 3,387
Q1-2020 sales Exchange Structure Prices Volumes Q1-2021 sales
rates
Nordics UK Germany
Change in
sales on a like- 2021/2020 +2.0% +9.2% +3.5%
for-like basis
2021/2019 +6.4% -0.3% +4.5%
7/
2021/2020 2021/2019
+19.7% +9.5%
like-for-like like-for-like
+17.8% +18.2%
+1.9%
-0.8%
-0.7%
2,983 3,526
Q1-2020 sales Exchange Structure Prices Volumes Q1-2021 sales
rates
France Spain-Italy
Change in
sales on a like- 2021/2020 +21.8% +13.5%
for-like basis
2021/2019 +10.7% +2.2%
8/
2021/2020 2021/2019
+22.3% +23.9%
like-for-like like-for-like
+15.3% +10.4%
+7.0%
+3.1%
-15.0%
1,370 1,512
Q1-2020 sales Exchange Structure Prices Volumes Q1-2021 sales
rates
North America Latin America
Change in
sales on a like- 2021/2020 +17.5% +34.8%
for-like basis
2021/2019 +19.5% +33.0%
9/
2021/2020 2021/2019
+31.8% +15.4%
like-for-like like-for-like
+29.2% +23.7%
+2.6%
-7.9% -0.2%
337 417
Q1-2020 sales Exchange Structure Prices Volumes Q1-2021 sales
rates
10 /High Performance Solutions: continued sequential improvement in industrial markets.
Businesses related to customer investment should rally steadily during the year, although
are expected to remain down on the good level recorded in 2018
Northern Europe: continued outperformance in construction and support from stimulus
programs; Nordic countries and Germany should benefit from good momentum in
renovation; the UK should bounce back though the environment remains uncertain
Southern Europe - Middle East & Africa: continued outperformance in construction thanks
to strong residential renovation markets and support from national and European stimulus
plans which should particularly benefit the Group’s energy-efficient renovation solutions,
notably in France, although certain markets such as new construction remain down
Americas: market growth, particularly residential construction, in both North America – as
expected – and Latin America
Asia-Pacific: market growth, with continued good momentum in China and a sharp rebound
expected in India.
11 /Improvement in the Group’s profitable growth profile:
continuation of its portfolio optimization (divestments and acquisitions)
outperformance versus the market thanks to its range of integrated solutions
strategy of differentiation and innovation to develop solutions for sustainability and performance
ongoing solid achievements in ESG with in particular the deployment of the 2030 roadmap
towards carbon neutrality in 2050
Rise of more than 100 basis points in the operating margin compared to the 2018
margin of 7.7%, and ongoing strong discipline in terms of free cash flow generation:
constant focus on the price-cost spread amid strong inflation in costs
reduction in costs as part of additional post-coronavirus adaptation measures
continuation of the operational excellence program
maintaining the structural drivers for improvement in operating working capital requirement
capital expenditure of around €1.5 billion and ongoing digital transformation
continued reduction in non-operating costs
For 2021, the Group is targeting a significant like-for-like increase in operating income, with
an improvement of more than 100 basis points in the operating margin compared to the 7.7%
margin in 2018 (assuming that volumes return to their 2018 levels), confirming the success of
“Transform & Grow”.
12 /01 FIRST-QUARTER 2021 SALES
02 2020 HIGHLIGHTS
03 2020 ACHIEVEMENTS
04 2020 RESULTS
05 STRATEGY
132020 H2-2020
actual like-for-like actual like-for-like
Sales -10.4% -3.8% -2.5% +4.8%
€38.1bn
Operating income -15.8% -12.3% +15.8% +22.4%
€2,855m
Op. margin 7.5%, -50 bps Op. margin 10.0%, +160 bps
actual actual
EBITDA -9.3% +13.3%
€4,415m
EBITDA margin 11.6%, +20 bps EBITDA margin 13.7%, +200 bps
Recurring net income
-23.2% +23.4%
€1,470m
EPS €2.74, -22.4%
Free cash flow +63.9%
€3,044m
14 / 2020 RESULTS PRESENTATIONResponsible management of the health crisis with regard to all of the Group’s stakeholders
Solid achievements in ESG, with new commitments for 2030:
2030 CO2 targets validated by the SBT* initiative, reduction of 4% in our CO2 emissions
compared to 2019, internal carbon price increased to €50/t
10Mt of raw materials not extracted thanks to our efforts in support of the circular economy
Record employee engagement score of 82%
Target of 25% of women in managerial roles within the Group met in 2020
Successful completion of “Transform & Grow”:
Recurring and structural savings of €250 million at the end of 2020, meeting the target a
year earlier than planned
Portfolio optimization: completed or signed divestments represent sales of more than €4.6bn,
with a positive impact on the operating margin
15 / * Science-Based Targets 2020 RESULTS PRESENTATIONStrong 4.8% organic growth in H2, accelerating to 6.4% in Q4
Sharp rebound in operating income in H2 2020, up 22.4% like-for-like, with a record operating
margin of 10% (up 160 bps versus H2 2019)
Record recurring net income in H2, up 23.4% to €1,198 million
Increase of 20 bps in EBITDA margin to 11.6% over the full year, and increase of 200 bps in H2
Record free cash flow of €3,044 million in 2020, up 64%
Sharp decrease in net debt: €7.2 billion at end-December 2020, compared to €10.5 billion at end-
December 2019
16 / 2020 RESULTS PRESENTATION01 FIRST-QUARTER 2021 SALES
02 2020 HIGHLIGHTS
03 2020 ACHIEVEMENTS
04 2020 RESULTS
05 STRATEGY
171 2 3
Health Financial Cost
protection strength savings
Barrier gestures in our Strong balance sheet €250m “Transform & Grow”
plants, offices, distribution savings delivered
Selective Capex
outlets
Fast action on several
Best-in-class cash
New ways of working initiatives for additional
generation and conversion
savings
18 / 2020 RESULTS PRESENTATION+3pt -22%
vs. 2019 vs. 2017
Saint-Gobain
employee Scope 1 + 2 CO2 Avoided extractions
Actions for our engagement emissions of raw material
communities1 Index2 vs. 20193 extracted
-0.4
vs. 2019
Group accident
frequency rate
TRAR
+1.2pt +€20
vs. 2019 vs. 2019
Production lines
Revised internal Reduction in non-
for surgical masks
Women carbon price recovered waste
in France, USA,
Brazil & China
managers for Capex vs. 2019
1. Philanthropy and sponsorship: in kind or in value
2. % of participants who “totally agree” with 4 engagement-
related questions; 7pt above benchmark
3. Absolute reduction to 10.4Mt (10Mt at constant scope), on
track to deliver a 33% reduction by 2030
19 / 2020 RESULTS PRESENTATIONTHANK YOU
TO ALL OUR TEAMS
FOR STANDING
UNITED
& SHOWING
SOLIDARITY
THROUGHOUT
THE CRISIS
20 / 2020 RESULTS PRESENTATIONGrowth Capex deployment 13 acquisitions in 2020
in the context of the pandemic CONSOLIDATION OF
LEADERSHIP
POSITIONS TO
BETTER SERVE
OUR CUSTOMERS
TECHNOLOGICAL
NICHES
Logistics center in New Life Sciences Technical textiles capacity Digital services in
Nordics Distribution capacities in the USA in Czech Republic Distribution for tradespeople SUPPORTING
OUR INNOVATION
SELECTIVE
REINFORCEMENT OF
OUR FOOTPRINT
ON NEW PROMISING
Construction chemical Coater jumbo startup Plaster plants in India Isonat woodfiber insulation MARKETS
plant in Chile for Glass in Poland and China expansion in France
€1.7bn invested in acquisitions and growth Capex
21 / 2020 RESULTS PRESENTATIONMaking Saint-Gobain stronger 22 / 2020 RESULTS PRESENTATION
LEAN, AGILE, PERFORMANCE-DRIVEN CUSTOMER CENTRIC
Accountability
• Incentivized country / market CEOs
• 100% of bonus aligned to country / market
performance (operating income, cash flow, return) 90% Ceilings & Acoustics business in Brazil,
Application Saint-Gobain Solutions in France
• One line of command & simplification of all
business processes
synergies
CEOs native
to their country
• Nurturing “Trust, Empowerment,
Collaboration” culture at all levels Recycling initiatives linking distribution
& local manufacturing plants
Ownership
November 2020 group-wide employee survey
Sales Intermediation platform for renovation in France,
Improvement in building construction ecosystem in Brazil
Managers say T&G will channel
32 Employee Net
Promoter score 78% improve Saint-Gobain’s
growth synergies
(eNPS)1
+10pt vs. 2019 +4pt vs. 2019
Common technical referral teams;
integrated approach to DIY
1. eNPS estimated as sum of (positive responses – negative responses) to the question
“I would recommend my company to friends & family”
23 / 2020 RESULTS PRESENTATION€130m Streamlined organizations
€120m
Asia-Pacific
50 Americas
High Performance Solutions Leaner central and support
H2 85 Europe & central functions
functions
80
Country/market synergies
H1 35 & optimization
2019 2020 Total
Cost savings delivered 1 year ahead of schedule
24 / 2020 RESULTS PRESENTATION€4.6bn sales divested (closed or signed) €740m sales acquired
since T&G launch since T&G launch
• 26 transactions of which 7 divestments closed in 2020 • 31 transactions of which 13 acquisitions closed in 2020
• €1.3bn sales closed or signed in 2020 • Driven by country CEO portfolio reviews
Consolidation Technological niches New geographies
Sales divested* Average profitability Sales acquired Average profitability
~3% >20%
EBITDA/sales EBITDA/sales
Value creation at the heart of management practices
* closed
25 / 2020 RESULTS PRESENTATIONEBITDA incl. synergies
Integration ahead of plan, exceeding expectations… Above US$ 110m
objective
• Management and teams successfully integrated,
synergies delivered faster than expected despite
operational impact of the Covid crisis: US$ 20m
23% 26%
21%
• Value creation on track for Year 3
H2-2019 H1-2020 H2-2020
…sharp increase in housing starts
1.71
1.46
1.20
At acquisition date 1.07
Housing starts,
annualized rate (million)
Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020
* 2020 estimated over 12 months (consolidated over 11 months as of February)
26 / 2020 RESULTS PRESENTATION Source: US Census Bureau, US department of HousingOperating margin reconciliation
H2-2018 8.1% Restated operating income margin post-IFRS 16 at T&G launch
Portfolio +55 bps €3.4bn sales divested, profitable acquisitions for €740m sales
Cost structure +60 bps T&G savings
Exceptional +50 bps Price-cost spread, discretionary savings, net of additional Covid costs
Volume & mix +25 bps +3.4% volume growth, negative mix evolution on HPS, FX effect
H2-2020 10.0%
Operating margin improvement in 2021
of more than 100 bps vs. 2018
27 / 2020 RESULTS PRESENTATION01 FIRST-QUARTER 2021 SALES
02 2020 HIGHLIGHTS
03 2020 ACHIEVEMENTS
04 2020 RESULTS
A. GROUP
B. SEGMENTS
05 STRATEGY
28+3.4% -2.5%
+1.4%
H2 -4.1%
-3.2%
Exchange rates: depreciation of the
20,896 +4.8% 20,364 Brazilian real and other emerging
(€m) like-for-like (€m) country currencies, the US dollar and
the Norwegian krone
41 761
H2-2019 Exchange Structure Prices Volumes H2-2020
sales rates sales
Structure: divestments as part of
+0.9%
“Transform & Grow” and acquisition of
-2.7% Continental Building Products
FULL YEAR -10.4%
-3.9%
-4.7%
42,573 -3.8% 38,128
(€m) like-for-like (€m)
41 761
2019 sales
Exchange Structure Prices Volumes 2020 sales
29 / rates
2020 RESULTS PRESENTATIONH1/H1: -12.3% H2/H2: +4.8%
+6.4%
Prices Volumes
+3.2%
+4.6%
+0.6% +0.2% +2.3%
+0.9% +1.8%
-5.5%
Upward trends in sales prices
-4.9% generating a positive price-cost spread
-19.4%
Good momentum in volumes, reinforced
in the post-pandemic period by increased
demand on the renovation market
-19.2%
Q1-2020/ Q2-2020/ Q3-2020/ Q4-2020/
Q1-2019 Q2-2019 Q3-2019 Q4-2019
30 / 2020 RESULTS PRESENTATION-15.8%
actual
3,390
2,855 Sharp rebound in H2 of 22.4% like-for-like; record operating
margin of 10% (up 160 bps versus H2 2019)
Positive price-cost spread ~ +€160m, of which €110m in H2
Strong action on costs, with €690m in cost savings in 2020
8.0% 7.5%
2019 2020
1,752 2,028 +15.8%
H2
8.4% 10.0% +160bps
31 / 2020 RESULTS PRESENTATION“Transform & Grow” structural savings Operational excellence program Savings related to Covid crisis
€130m in 2020, to compensate for cost inflation €240m in 2020, of which €80m in H2
on top of €120m in 2019 €320m in 2020 (vs. €310m in 2019)
€130m €320m €240m
H2 50 Reduction in discretionary
110
spending
Net impact of partial
80 unemployment
H1 80
Savings to lower the break-even
50* point of Covid-affected
businesses
2020 2020 2020
* €150m additional savings in 2021
32 / 2020 RESULTS PRESENTATION2,028
1,693 1,752
1,638
1,514
827
7.3% 7.6% 4.7% 8.1% 8.4% 10.0%
H1-2018 H1-2019 H1-2020 H2-2018 H2-2019 H2-2020
2018 restated for IFRS 16
33 / 2020 RESULTS PRESENTATION2020/ H2-2020/
2019 2020
€m 2019 H2-2019
Operating income 3,390 2,855 -15.8% +15.8%
Non-operating costs (421) (342)
Disposal gains (losses) and impacts resulting
(13) (58)
from changes in Group structure
Asset write-downs and other (403) (1,023)
Business income 2,553 1,432 -43.9% +13.9%
Operating income 3,390 2,855 -15.8% +15.8%
Operating depreciation and amortization 1,901 1,902
Non-operating costs (421) (342)
EBITDA 4,870 4,415 -9.3% +13.3%
EBITDA margin 11.4% 11.6% +20 bps +200 bps
34 / 2020 RESULTS PRESENTATION2020/ H2-2020/
2019 2020
€m 2019 H2-2019
Business income 2,553 1,432
Net financial expense (496) (453)
Dividends received from investments (Sika) 28 34
Income tax (631) (526)
Net attributable income 1,406 456
Recurring net income 1,915 1,470 -23.2% +23.4%
Recurring EPS (€) 3.53 2.74 -22.4%
35 / 2020 RESULTS PRESENTATION3,740
-453
3,044 +64%
-526
+1,148
-865
FCF conversion: 81%
2020 Finance costs Tax Capital expenditure Change in WCR Free cash flow
EBITDA* excl. Sika excl. additional over a 12-month
dividends capacity** period
2019: €4,188m FCF conversion: 44% €1,857m
* EBITDA less depreciation of right-of-use assets: €4,415m - €675m = €3,740m (versus €4,188m in 2019)
** Capital expenditure = €1,236m, including €371m in additional capacity investments linked to organic growth
36 / 2020 RESULTS PRESENTATION19.8
20.0 18.2
18.4
Net debt
Shareholders’ equity 10.5
7.3 7.2*
4.1
12-2019 12-2020 12-2019 12-2020
before IFRS 16** after IFRS 16
Net debt/shareholders’ equity 36% 22% 53% 39%
Net debt/EBITDA 1.8 1.1 2.2 1.6
* €0.15bn reduction in net debt at December 31, 2020 relating to debt carried by entities in the process of being sold.
** Before IFRS 16: estimates.
37 / 2020 RESULTS PRESENTATION18.7% 18.4%
21.8% 22.0%
11.1%
10.4%
11.9% 11.3% 2019 2019
2020 2020
ROI ROCE ROI ROCE
before IFRS 16 after IFRS 16
38 / 2020 RESULTS PRESENTATION01 FIRST-QUARTER 2021 SALES
02 2020 HIGHLIGHTS
03 2020 ACHIEVEMENTS
04 2020 RESULTS
A. GROUP
B. SEGMENTS
05 STRATEGY
39Sales (€m) Operating income (€m)
in H2 and margin (%)
-10.1% -1.9%
like-for-like like-for-like
+0.5%
966 613
12.7% 9.4%
-3.4% -0.2% -13.7%
actual
-10.6%
o/w*:
7,584 6,544
Mobility (7%): -13.3% 13.0% 12.5% 7.4% 11.1%
Other industries (10%): -7.9%
2019 sales Exchange Structure Prices Volumes 2020 sales H1-19 H2-19 H1-20 H2-20
rates
* Sales by segment: as a % of Group total and like-for-like growth
40 / 2020 RESULTS PRESENTATIONSales (€m) Operating income (€m)
in H2 and margin (%)
-3.1% +2.0%
like-for-like like-for-like
-1.8% 946 788
-14.9%
actual 6.3% 6.2%
+0.3%
-10.0%
-3.4%
15,058 o/w*: 12,807
Nordics (14%): +2.8%
UK (9%): -13.2%
Germany (3%): -2.3% 6.0% 6.6% 4.2% 7.9%
2019 sales Exchange Structure Prices Volumes 2020 sales H1-19 H2-19 H1-20 H2-20
rates
* Sales by country: as a % of Group total and like-for-like growth
41 / 2020 RESULTS PRESENTATIONSales (€m) Operating income (€m)
in H2 and margin (%)
-4.9% +6.7%
like-for-like like-for-like
+1.1% 736 644
-0.5% 5.4% 5.2%
-8.6%
-3.2% actual
-6.0%
13,624 o/w*: 12,454
France (24%): -4.7%
Spain-Italy (4%): -8.5%
5.0% 5.8% 1.7% 8.0%
2019 sales Exchange Structure Prices Volumes 2020 sales H1-19 H2-19 H1-20 H2-20
rates
* Sales by country: as a % of Group total and like-for-like growth
42 / 2020 RESULTS PRESENTATIONSales (€m) Operating income (€m)
in H2 and margin (%)
+4.7% +15.7%
like-for-like like-for-like
+2.6%
actual
+2.4% 656
+2.3% 562
+7.2%
-9.3%
5,555 o/w*: 5,697 10.1% 11.5%
North America (11%): +2.8%
Latin America (4%): +8.8%
2019 sales Exchange Structure Prices Volumes 2020 sales 2019 2020
rates
* Sales by country: as a % of Group total and like-for-like growth
43 / 2020 RESULTS PRESENTATIONSales (€m) Operating income (€m)
in H2 and margin (%)
-7.1% +2.1%
like-for-like like-for-like
-3.1%
-19.5% 200
actual
163
-9.3%
-0.8%
-6.3%
1,888 1,520 10.6% 10.7%
2019 sales Exchange Structure Prices Volumes 2020 sales 2019 2020
rates
44 / 2020 RESULTS PRESENTATION01 FIRST-QUARTER 2021 SALES
02 2020 HIGHLIGHTS
03 2020 ACHIEVEMENTS
04 2020 RESULTS
05 STRATEGY
45THE WORLD IN 2021 AND BEYOND
More local More sustainable More digital
>30% 58%
-40% of the EU Recovery think that
decline in FDI* Plan dedicated to construction will
climate action become more digital**
* Foreign Direct Investments in 2020. Source: UNCTAD, June 2020
** % of European building material manufacturers. Source: The impact of COVID-19 on Construction, USP
46 / 2020 RESULTS PRESENTATIONNET-ZERO CARBON
BY 2050
A- rating
47 / 2020 RESULTS PRESENTATIONOur achievements
Ethics Compliance
New managers trained in our Managers trained in anti-corruption
Principles of Conduct & Action New whistleblowing line
Governance
Responsible purchasing Creation of a CSR Board Committee
Contracts with partner suppliers including Independent directors on Board
the supplier charter
Board meetings in 2020
ESG criteria in executive long-term incentive plans
Health & Safety for all employees For and with our stakeholders
Total Recordable Accident Rate (TRAR) Main priority during pandemic:
-8.1 vs. 2010, -0.4 vs. 2019 Adapt our processes to insure safe interaction
amongst employees and with our suppliers, and
Committed to durably reduce our TRAR welcome our customers in strict compliance with
below 2 by 2025 health measures
Health charter for our employees, clients,
suppliers and neighbors
Masks produced by Saint-Gobain on 4 production lines
48 / 2020 RESULTS PRESENTATIONOur achievements
Contribute through our Products & Solutions Improve our operations & supply chain
Worldwide leader for EPD1 in Construction CO2 emissions Water discharge
~1,300 verified EPD in 33 countries Scope 1+2: -4% vs. 2019 in real terms vs. 2019
kgCO2/€ of sales Electricity from
TCFD climate scenarios published
renewable sources
Industrial water withdrawal, with no
discharge in drought areas vs. 2017
CO2 emissions Scope 1 + 2 CO2 emissions Scope 3
Of Product ranges subject to vs. 2017 emissions on an absolute basis
Life Cycle Analyses SBTi validated
Integrate recycled materials in our products Create collection networks & services
and solutions
Virgin raw materials avoided in 2020 Collection points in our distribution network
Reduction of non-recovered waste vs. 2019 2030 circular economy roadmap defined
Avoided virgin raw Non-recovered waste Recyclable packaging Recycled or bio-sourced
materials content on packaging
vs. 2017 vs. 2017
49 / 1. Environmental Product Declaration 2020 RESULTS PRESENTATIONOur achievements
Increase diversity Engage our employees
Diversity Index Engagement Index
Women managers Senior managers
Signed agreements
vs. 17.5% in 2010 vs. 5% in 2010
Employees involved in
Women on ExCo Women on Board formulation of purpose
Women on average on all our Minimum share of women in recruiting
business ExCos by 2025 processes (40% in mature countries)
For and with our employees For and with the families of our employees
Employees responding to satisfaction survey Coverage of parental pillar of
“CARE by Saint-Gobain"
Employees received training in 2020 social protection program
Shares held by employees (Group Savings Plan)
With local communities as recognized trusted local partner
Donations for our communities Creation of 1st training apprenticeship center in France
50 / 2020 RESULTS PRESENTATIONFor our customers: solutions for sustainability & performance
Insulation systems Flooring solutions -1,200Mt Glazing solutions for mobility Refractories for high temp.
CO2eq avoided
emissions thanks to our
insulation solutions
Lightweight façade solutions Roofing solutions sold in 1 year1 Technical ceramics Solid electrolytes for batteries
For our processes: CO2 commitments toward carbon neutrality
2020 2030 2050
Internal carbon prices Scope 1 + 2
increased: -33%
€50 for investment,
€150 for R&D Scope 3
-16%
2030 targets SBT-validated
Absolute emissions reduction vs. 2017
1. Internal methodology developed in partnership with EY Sustainable Performance & Transformation: Avoided emissions calculated as difference between greenhouse gas emissions associated with product Life Cycle Analyses & gain unlocked by the
product vs. a reference basic solution multiplied by its lifespan (e.g 30 years for insulation, 50 for glass). Reference solution & scenario defined for each product in portfolio
51 / 2020 RESULTS PRESENTATIONEND-TO-END ENERGY LIGHT
SOLUTIONS EFFICIENCY CONSTRUCTION
Sustainability & Performance
52 / 2020 RESULTS PRESENTATIONEnergy-efficient renovation of a single-family house in France
100% solutions manufactured or distributed by Saint-Gobain
+136% €600bn
“Energy renovation” Potential maximum yearly
key words web
Annual EU spend on
renovation3
-88 % * energy expense reduction
1 Mechanical ventilation
search1
2
Glass wool, wood fiber
1
2 3 External thermal insulation
88% 72%
of buildings in 4 composite systems (ETICS)
People spend more
time at home since Europe to be 3
the pandemic2 renovated by 2050
5 4
Double-glazed windows
5 Heat pump, thermodynamic
6 boiler, water radiators
+89% x2 objective
Visitors on
Annual renovation +4 Energy performance analysis
Saint-Gobain 6
rate in the EU classes Intermediation with end customer
renovation website4
Saint-Gobain, the one-stop-shop for renovation
1. Google trends Sept-Dec 2020 vs. 2019 2. USP survey * Calculations for a single-family house built between 1948 and 1974
53 / 3. Euroconstruct 4. 2020 vs. 2019 internal data 2020 RESULTS PRESENTATION based on the French report to the European CommissionRenovation of a hospital
100% solutions manufactured or distributed by Saint-Gobain
1 Air quality
-20% * Energy consumption
2x 2/3
Expected increase Share of world * Example of Montfermeil renovation in France - 2
also includes savings enabled by consumption
in people over 60 by population in urban monitoring through captors
Health, shock
20501 areas by 20502 resilience and
3 acoustic
8
performance:
partitions,
4 ceilings,
2 1 5
2bn/ year 4 and X-ray
+3.6% 5 plasterboards
Avg EIB investment in Expected 5y growth
healthcare infrastructure 3
in surgeries
and innovation3 performed4 7 Visual and thermal
6
comfort:
6 architectural membranes,
7 Sage electrochromic
glass
340kWh 3%
Average yearly electricity Target for yearly
use /m² in a hospital public building -11% * Potential reduction in 8 Upstream project
in the USA5 renovation
length of patient stays assistance:
prescription, BIM
Saint-Gobain, the one-stop-shop for
Sustainability & Performance
54 / 1. OECD 2. United Nations DESA 3. WHO * Building 4 People report published by BPIE
4. PR Newswire data for 2017-2022 period 5. Bizenergy Advisor 2020 RESULTS PRESENTATION (Building Performance Institute Europe)Saint-Gobain electric mobility solutions
Well-being & energy savings
Average car weight reduction
-7kg thanks to Saint-Gobain solutions 1 Lightweight glazing
x3 ~15% Tinted glass & repair
Contribution of 2 2
Passenger transport
transport sector to
increase 2015-20501
world CO2 emissions2
1 3 Thermal & acoustic insulation
5
3
Performance & energy savings
4
Tolerance rings
€5-10tn 36m 4
Recovery plans estimated regular
worldwide with users of car sharing
mobility initiatives3 services by 20254 5 Films & battery separators
Well-being & energy savings
2 1 Climacoat heated
3
27m windshield
Expected
x2
Total energy use 1 Thermal insulation
electric vehicle in 2
circulation by 2030 increase in transport
sector 2010-20505
3 Micaver electrical
insulation
Performance solutions
to consume less energy per kilometer
55 / 1. BCC Research 2. WRI 3. €750bn in EU, $1.9tn in the USA, €6tn in China
2020 RESULTS PRESENTATION
4. Frost & Sullivan 5. IEA 6. European CommissionOUR PURPOSE
This presentation contains forward-looking statements with respect to Saint-Gobain’s financial condition, results, business, strategy, plans and outlook. Forward-looking statements are generally identified by the use of the words "expect", "anticipate", "believe", "intend", "estimate", "plan" and similar expressions. Although Saint-Gobain believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of its future performance. Actual results may differ materially from the forward-looking statements as a result of a number of known and unknown risks, uncertainties and other factors, many of which are difficult to predict and are generally beyond the control of Saint-Gobain, including but not limited to the risks described in Saint-Gobain’s registration document available on its website (www.saint-gobain.com) and the main risks and uncertainties presented in the half-year 2020 financial report. Accordingly, readers of this document are cautioned against relying on these forward-looking statements. These forward-looking statements are made as of the date of this document. Saint-Gobain disclaims any intention or obligation to complete, update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. This presentation does not constitute any offer to purchase or exchange, nor any solicitation of an offer to sell or exchange securities of Saint-Gobain. No representation or warranty, express or implied, is made by Saint-Gobain or its managers, corporate officers, employees, contractors, representatives or advisors as to the accuracy or completeness of the information or opinions contained in this presentation. 57 / 2020 RESULTS PRESENTATION
APPENDIX
2021/2020 2021/2019
+13.8% +9.0%
like-for-like like-for-like
+11.7% +12.5%
+0.4% +2.1%
-1.7%
3,926 4,416
Q1-2020 sales Exchange Structure Prices Volumes Q1-2021 sales
rates
59 /Sales (€m) Operating income (€m)
in H2
and margin (%)
-3.2% +5.2%
like-for-like like-for-like
749 680
-1.0%
3.9% 4.2%
-14.0%
+1.0% actual
-9.8%
-4.2%
19,006 16,347
3.6% 4.4% 1.8% 6.2%
2019 sales Exchange Structure Prices Volumes 2020 sales H1-19 H2-19 H1-20 H2-20
rates
60 / 2020 RESULTS PRESENTATIONBreakdown of 2020 Industrial assets
Operating income at December 31, 2020
Asia-Pacific Asia-Pacific
6% HPS 6% HPS
21% 22%
Americas Americas 16%
23%
28% 26%
Southern 30%
22% Southern Europe - Northern
Europe - ME
& Africa ME & Africa Europe
Northern
Europe
61 / 2020 RESULTS PRESENTATION2020 Sales 2020 Operating income
Group Group
North America France
France
15% North America 15%
Latin 26% 25%
America
6%
Asia-
Pacific 7%
Latin 8%
Eastern 7% America 30%
Other Western
Europe, European
Africa & ME 12% countries
39% 10%
Asia-Pacific
Other Western Eastern Europe,
European Africa & ME
countries
62 / 2020 RESULTS PRESENTATIONNEW RESIDENTIAL 1% 7% 7% 5% 2%
CONSTRUCTION
22%
NEW NON-RESIDENTIAL 1% 4% 3% 1% 1%
CONSTRUCTION
10%
1% 21% 22% 9%
RENOVATION / INFRAST. 1%
54%**
MOBILITY 7%
7%
OTHER INDUSTRIES 7%
7%
HPS NORTHERN SOUTHERN AMERICAS ASIA-PACIFIC
~17% EUROPE EUROPE - ~15% ~4%
* Saint-Gobain estimated end markets ~32% ME & AFRICA
** Renovation: 48% ~32%
Infrastructure: 6%
63 / 2020 RESULTS PRESENTATIONTheme Saint-Gobain indicators 2019 2020
CLIMATE CO2 emissions (Mt) – scope 1+2 10.8 10.4
CO2eq avoided emissions thanks to our insulation solutions sold in 1 year (Mt) 1,200*
kgCO2/€ sales 0.25 0.27
E
ENERGY Renewable electricity contribution as part of electricity consumption (%) 18.2% 18.9%
WATER Industrial water withdrawal (M of m3) 48.9 45.4
CIRCULAR ECONOMY Avoided virgin raw materials (Mt) 8.5 10.1
HEALTH & SAFETY Group accident frequency rate (TRAR)
2.2 1.8
(employees, temporary workers and permanent subcontractors)
DIVERSITY Share of women managers among managers (%) 24.2% 25.3%
Share of women on Group executive committee (%) 25%
ENGAGEMENT Satisfaction survey:
S & TALENT DEVELOPMENT Employees responding (% total) 74% 78%
Engagement index score 79 82
Employees feel adequately trained to do their work (% respondents) 87% 88%
SOCIAL PROTECTION "CARE by Saint-Gobain" social protection program coverage (% employees):
parental pillar (14 weeks maternity leave on full salary and a minimum of 3
100%
days leave on full salary for the spouse after the birth or adoption of a child)
ETHICS & COMPLIANCE % of new managers trained to our Principles of Conduct and Action in their first
93% 97%
year
DIVERSITY Share of women on Board (%) 45% 45%
G
BOARD STRUCTURE Share of independent directors on Board (%) 73% 82%
MANAGEMENT INCENTIVES % ESG criteria in long-term incentive plans 15% 20%
GROUP SAVINGS PLAN Proportion of shares held by Group employees’ savings plan (%) 8.7% 9.1%
64 / * Estimate based on 2017 sales of insulative solutions 2020 RESULTS PRESENTATION2020 DIVIDEND (Board’s recommendation to the June 3, Share buybacks
2021 AGM)
Reduction in the number of shares
€1.33 PER SHARE outstanding to 530 million at end-December
Dividend yield at Dec. 31, 2020: 3.5% 2020 versus 542 million at end-December
2019
Payout ratio based on recurring net income: 48%
PAYMENT
In cash
CALENDAR
June 3, 2021: AGM
June 7, 2021: ex-dividend date
June 9, 2021: payment date
65 / 2020 RESULTS PRESENTATIONOCTOBER 6, 2021
Saint-Gobain new leadership team
will present its strategic vision and roadmap for
profitable growth:
Leveraging its solutions for Sustainability
and Performance
With financial and ESG targets
66 / 2020 RESULTS PRESENTATIONYou can also read
