ShanghaiMay 11, 2026 /PRNewswire/ —
- Sales decreased by2.3% year-on-year, a smaller decline than expected.
- Asia-Pacific achieved robust growth of9.0%, Europe remained broadly stable, while the Americas saw a decline (primarily due to weather impacts and weakness in new construction markets).
- The Group continues to optimize its business structure: completed3 acquisitions in chemical building materials (this business performed well, growing 4.3% in local currency and 1.7% year-on-year); opened11 new production lines and plants, of which10 are in high-growth countries; and completed the sale of the ventilation distribution business in the Nordic region.
- The full-year price-cost gap is expected to be slightly positive. Against a backdrop of rising inflation, the Group has announced further price increases.
- Confirmed2026 outlook: Amid a diverging macroeconomic environment and geopolitical uncertainties, the Group expects its2026 EBITDA margin to exceed15.0%, with the first half impacted by extreme weather conditions in Europe and North America at the start of the year.
Sales decreased by2.3% in local currency. Volume trends observed in the fourth quarter of 2025 continued into the first quarter of 2026, also impacted by adverse weather conditions in North America and Europe in January and February. Growth accelerated in the Asia-Pacific region.
In the first quarter, product prices remained stable, while the Americas faced a higher comparison base. Given changes in the energy and raw material cost environment, an inflationary trend is now expected for the full year, and the Group has already announced further price increases to customers in March. Thanks to rigorous local execution and the added value of comprehensive, innovative, and sustainable solutions, Saint-Gobain continues to forecast a slightly positive price-cost gap for the full year.
Structural impacts were neutral, primarily reflecting acquisitions in chemical building materials, such as FOSROC and Cemix, offset by the divestiture of distribution businesses in Belgium and Brazil (Tumelero), as well as dry mortar and prefabricated construction activities in Germany (Brüggemann).
On a reported basis, sales amounted to€11.1 billion, including a negative currency impact of 2.6%, mainly due to the depreciation of most currencies in North America and Asia against the euro.
Asia-Pacific: Sales growth accelerates
The Asia-Pacific region achieved growth of9.0% (in local currency) and7.0% year-on-year, with growth across all major countries and the industrial solutions business, leveraging the Group’s significant advantages in added value and innovation.
China continued the positive growth trend seen since the second half of 2025. Saint-Gobain continues to roll out digital and AI tools for installers, aimed at enhancing customer loyalty and ensuring full traceability of products and services.
Southeast Asia markets maintained good momentum, driven by a range of specified solutions, particularly for infrastructure projects (Singapore Changi Airport, public transport networks in Manila, Philippines, and Jakarta, Indonesia) and data center construction. Vietnam recently launched its first zero-carbon (Scope 1 and Scope 2) cement board production line, powered by biomass and renewable electricity. Indonesia and Malaysia strengthened their positions in chemical building materials through acquisitions (Indocement and Flinken).
Australia returned to growth amid an improving new construction market, supported by an expanded range of solutions.
India once again achieved double-digit growth and gained market share, thanks to its comprehensive, innovative, and sustainable solutions. Leveraging the successful integration of FOSROC in chemical building materials, the Group secured several new projects in non-residential and infrastructure sectors, such as the Pune Metro and the Mumbai-Ahmedabad high-speed rail link. Saint-Gobain developed an AI-based enhanced supplier program aimed at improving product expertise and accelerating cross-selling.
2026 Outlook
Against a backdrop of a diverging macroeconomic environment and geopolitical uncertainties, the Group expects the following trends for2026:
- Europe: Gradual improvement, but with varying trends across countries;
- North America: Markets remain weak in the first half, with a gradual improvement in prospects in the second half on easier comparison bases;
- Asia-Pacific and Latin America: Growth led primarily by India, Southeast Asia, and Mexico.
Saint-Gobain expects its2026 EBITDA margin to exceed15.0%, with first-half results impacted by extreme weather conditions in Europe and North America at the start of the year.