France-based building materials manufacturer Saint-Gobain had “record” performance in 2022, the company announced Feb. 23 when reporting its 2022 full-year financial results.
Saint-Gobain achieved sales of €51.2 billion ($54.3 billion) in 2022, representing record 15.9% sales growth over 2021. The company also set records for the following financial performance indicators in 2022:
- Operating income of €5.3 billion ($5.6 billion), up 18.4% from 2021
- Operating margin of 10.4%, up 20 basis points from 2021
- Recurring earnings per share of €6.48 ($6.87), up 21.1% from 2021
- Free cash flow of €3.8 billion ($4.03 billion), up 30.5% from 2021
- Return on capital employed (ROCE) of 16.1%, up 80 basis points from 2021
Saint-Gobain’s Americas Region delivered 13.9% organic growth in 2022, with North America progressing by 15% and Latin America growing 11%. Operating income in the Americas hit a record €1.5 billion ($1.6 billion) in 2022, with the U.S. now representing Saint-Gobain’s largest market in terms of operating income, according to the report. The company’s performance in the Americas was supported by momentum from recent acquisitions, cost and sales synergies, and a clear positive raw material and energy price-cost spread, the report said.
“In an unsettled geopolitical, energy and macroeconomic environment in 2022, the Group once again delivered record results,” Saint-Gobain CEO Benoit Bazin said in the report. “Over the last four years of its transformation, Saint-Gobain has outperformed, achieving a two-fold increase in its earnings per share, a structural improvement of 240 basis points in its operating margin, and a three-fold increase in its cash flow generation.
“I am confident that 2023 will be a good year for Saint-Gobain. Our roadmap is clear: disciplined execution of the ‘Grow & Impact’ strategic priorities, leveraging the strength of our operating model against the backdrop of a slowdown in new construction but good resilience in renovation. I know I can rely on the dedication and talent of our teams, who do everything possible to best serve their customers and who monitor their performance in real time within our organization by country.”