5 2025 RESULTS LETTER TO SHAREHOLDER No 102 1. Pro forma including recent acquisitions and disposals at constant exchange rates 2. Pro forma including recent acquisitions and disposals Housing shortage Essential renovation and climate-change adaptation Onshoring Infrastructure demand ASIA AND EMERGING COUNTRIES Population growth and urbanization Expansion of the middle class and economic development Ambitious urban development programs driving infrastructure growth Climate-change adaptation WESTERN EUROPE Market recovery, notably to address the housing crisis Energy-efficient renovation and climate-change adaptation Upcoming investments in infrastructure and defense NORTH AMERICA Building on its leading position with sustainable solutions that now account for nearly 75% of its sales, Saint-Gobain is also shaping the transformation of the construction industry. It is generating a positive impact on its value chain: the solutions sold by the Group in a single year prevent the emission of approximately 1 billion tonnes of CO2 over their lifetime. In terms of its operations, SaintGobain has already reduced its CO2 emissions by 35% compared to 2017 (scope 1 and 2) and is now aiming for a 40%-45% reduction in CO2 emissions (scope 1 and 2) by 2035 (versus 2017), in line with its commitment to be carbon neutral by 2050. To grow in these high-potential markets, the Group leverages three key strengths: - its capacity for innovation, which enables it to play a pioneering role (thanks to building science and artificial intelligence) and to adapt its solutions to the specific characteristics of each local market from its regional research and development hubs; - its leadership in construction chemicals, which is a strategic driver: this business, which currently generates €6.5 billion in revenue1, is expected to exceed €9 billion by 2030, thereby continuing to increase Saint-Gobain’s exposure to the infrastructure market; - its specified sales teams, organized on a country-by-country basis, target the most complex or large-scale projects, relying on active management of key customer accounts. INCREASING EXPOSURE TO HIGH-GROWTH COUNTRIES Another objective of the new strategic plan is to seek greater exposure to high-growth geographies. With a presence across 80 countries, Saint-Gobain is ideally positioned to respond to the formidable challenges facing the construction industry, with its comprehensive, innovative, and sustainable solutions. Its country-based organization, led by local CEOs, is the key to the Group’s success and enables it to accelerate its growth thanks to its close proximity to customers and local sales channels, and its ability to adapt to the specific needs of each market and project (taking into account the climate, cultural, and financial constraints specific to each country). “In the current geopolitical context, Saint-Gobain benefits from its powerful operating model”, Benoit Bazin points out. The Group will therefore continue to increase its exposure: - in North America, where adapting buildings and infrastructure to climate change is becoming a major strategic driver; - in Asia and high-growth countries, where demographics and urbanization needs are driving strong construction demand. Ultimately, these regions are expected to account for nearly 60% of Saint-Gobain’s sales, compared with around 50% currently. 25-30% 20% 30-35% 29% 51% 40-45% 13% 18% 69% ASIA & EMERGING COUNTRIES NORTH AMERICA WESTERN EUROPE LONG-TERM AMBITION 2025 PRO FORMA2 BEFORE TRANSFORMATION Increase exposure to countries with strong structural growth SHARE OF GROUP SALES
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