par SAINT-GOBAIN (EPA:SGO)
Q3 2026 sales
PRESS RELEASE
October 27, 2026, 6:00pm
The worldwide leader in light and sustainable construction
Q3 2026 sales: growth in all Regions
- Q3 organic sales growth of 2.5% (1.2% over 9 months), driven by all Regions (Asia-Pacific up 8.0%, Europe up 2.5% and Americas up 0.6%) and construction chemicals, up 6.3% in Q3 (up 5.6% over 9 months)
- Good price management in a more pronounced inflationary environment, notably thanks to sales of high added-value Saint-Gobain solutions
- Reinforcement of the Group’s profitable growth profile, with the rotation of €3.3bn of sales announced year-to-date:
- 17 acquisitions in high-growth countries and construction chemicals with a strengthened presence in the North American infrastructure market (Xypex and D.S. Brown)
- Closing of the Dahl divestment (Nordic specialist distribution) expected on November 2, 2026
- Outlook confirmed: in a contrasted macroeconomic environment and uncertain geopolitical landscape, Saint-Gobain expects an EBITDA margin of more than 15.0% in 2026
Sales totaled €11.6 billion in the third quarter, up by 2.5% like-for-like and by 1.2% over the nine months to end-September. All Regions delivered growth in the third quarter.
Construction chemicals continued its strong momentum, outperforming with 6.3% like-for-like sales growth over the quarter (5.6% over the nine months to end-September); all Regions delivered strong growth.
In a contrasted macroeconomic environment and uncertain geopolitical landscape, the Group continued to roll out its “Lead & Grow” strategy aimed at accelerating the deployment of its solutions on the residential, non-residential and infrastructure markets, country by country. Thanks to its value-added solutions and its disciplined execution, prices increased 3.2% in the third quarter (an increase of 1.5% over the nine months to end-September), in a more pronounced inflationary environment.
The negative 2.1% structure impact in the third quarter (negative 1.1% impact over the nine months to end-September) mainly reflects the disposal of businesses in distribution (Nordics, Brazil and Belgium) and in Germany (dry mortars, off-site construction and HKO). Acquisitions were focused on high-growth countries: Indocement (Indonesia), Morteros de Europa (Dominican Republic), QSI Peru and PMIM (Vietnam). The exchange rate impact was a positive 1.4% in the quarter (negative 0.3% over the nine months to end-September), mainly due to the appreciation of currencies in the Americas against the euro.
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Performance by Region (sales)
Europe, Middle East & Africa: sales growth
Europe rose 2.5% like-for-like in the third quarter (up 1.9% over the nine months to end-September), with a contrasted situation by country.
- Northern Europe was up by 3.4% like-for-like, thanks to growth in its main countries apart from the UK, which continues to be impacted by the construction market downturn. Nordic countries reported further good growth, benefiting from improved mix with innovative solutions (technical flooring, high performance low-carbon plasterboards), increased exposure to non-residential markets and multi-product specification capabilities. Switzerland and Eastern Europe continued to outperform thanks to their comprehensive and differentiated offering (Lanaé® and Isorigid® insulation) and to growth in industrial solutions. Poland and the Czech Republic delivered double-digit growth, driven by infrastructure and a broader range of solutions. Germany was up slightly, supported by the non-residential renovation market and the rollout of its infrastructure solutions, enjoying commercial success in technical mortars for energy infrastructure. The Region is active in over 200 data center projects, specifying an increasingly broad range of solutions, from civil engineering and foundation works to the building envelope, interior solutions, technical insulation, metal structures and fire-resistant glazing.
- Southern Europe, Middle East & Africa rose by 1.6% like-for-like. France posted slight growth in a quarter characterized by caution: renovation was affected by the uncertainties weighing on consumer confidence, while new construction delivered further growth over the period. Although the summer heatwaves had a slightly negative short-term impact, the need to adapt to climate change represents a growth opportunity for the Group, thanks to its solutions that can reduce indoor temperatures by up to 10°C. Spain-Italy rose slightly, driven once again by interior solutions which continue to capture market share. The Middle East saw further double-digit growth led by construction chemicals, especially in the infrastructure market, with Turkey delivering a strong outperformance, including solutions delivered for the Izmit metro. In Southern Europe, the Group is deploying advanced AI-powered optimization systems in its plasterboard plants, initially at a pilot site at Quinto in Spain, with a potential gain of around 1.5 production days per line per year.
Americas: slight growth in sales
The Region posted a slight increase of 0.6% like-for-like in the third quarter, reflecting growth in North America and despite the contraction in Latin America.
- North America saw 2.0% like-for-like growth thanks to an increase in prices and volumes driven by construction, while industrial solutions remained down; inflation is accelerating (particularly for transport). Roofing and plasterboard were up slightly, outperforming thanks to differentiated solutions, in a market affected by the absence of major weather events and by the decline in new residential construction. The outperformance in interior solutions was supported by non-residential applications. The Group delivered another strong outperformance in construction chemicals, with high-single-digit growth and market share gains. CertainTeed Integrity Roof System® solutions for climate resilience captured market share (up 10% over the nine-month period), and the number of roofing contractor companies accredited by CertainTeed continued to grow (up 10% over the nine-month period). The Group bolstered its technical support capabilities and the added value its solutions bring to customers, particularly in non-residential markets, with the inauguration during the quarter of a new fire testing facility at the Saint-Gobain Innovation Hub in Northborough (Massachusetts).
- Latin America contracted by 3.0% like-for-like in volatile markets. In Brazil, a cautious attitude prevailed ahead of the presidential elections, but the “Lead & Grow” strategy is being rolled out swiftly, with a double-digit rise in the value of the specified project pipeline over the nine months to end-September – particularly in non-residential markets – thanks to inter-brand key account teams. The region saw further growth in construction chemicals, in Brazil – particularly in infrastructure – in Mexico and in Central America thanks to the success of Cemix, as well as in Peru with the integration of QSI Peru.
Asia-Pacific: strong sales growth driven by India
The Region reported 8.0% like-for-like growth in the third quarter (after 7.0% in the first half), thanks to strong momentum in India and South-East Asia.
India captured further market share, with double-digit organic growth driven by the strong reputation of the Saint-Gobain brand in the country, along with its comprehensive, innovative and sustainable offering. The Group was awarded new projects in non-residential and infrastructure, illustrating its construction chemicals leadership (for example, the Dhirubhai Ambani Green Energy Giga Complex). An AI-powered customer recommendation tool has been developed and deployed within sales teams with promising conversion rates. South-East Asia continued to grow, thanks to Vietnam, the Philippines, Indonesia and Malaysia, benefiting from the increasing adoption of sustainable construction solutions and a greater market share in data centers. The start-up of new lightweight board production lines in Malaysia and Vietnam, along with the completion of the acquisition of a new plasterboard production line in Vietnam, will help extend this growth momentum. Australia reported further slight sales growth, driven by new construction. Saint-Gobain recorded another outperformance in China, with modest growth in a market that remains down, with the start-up of Asia’s largest automated plasterboard production line in Guangdong province.
2026 outlook
In a contrasted macroeconomic environment and uncertain geopolitical landscape, the Group expects like-for-like sales growth for the second half of 2026.
Saint-Gobain expects an EBITDA margin of more than 15.0% in 2026.
Financial calendar
A conference call will be held at 6:30pm (Paris time) on October 27, 2026: dial +44 20 3059 5875, +1 718 705 8795 or +33 1 70 91 87 14 (code 4276084#)
- Site visit for investors and analysts: Tuesday December 1, 2026 in Milan, Italy
- 2026 results: Thursday February 18, 2027, after close of trading on the Paris stock exchange
Glossary:
- Changes on an actual structure basis reflect changes in published indicators between two periods
- Changes in local currencies reflect actual performance, applying exchange rates for the previous period to indicators for the period under review
- Like-for-like changes (constant structure and exchange rates) reflect underlying performance excluding the impacts of:
- changes in scope, by calculating indicators for the period under review based on the scope of consolidation of the previous period (structure impact)
- changes in foreign exchange rates, by calculating indicators for the period under review and those for the previous period based on exchange rates for the previous period (exchange rate impact)
- EBITDA: operating income plus operating depreciation & amortization and non-operating costs
- EBITDA margin: EBITDA divided by sales
- Operating income: see note 5 to the interim financial statements, available by clicking here: https://www.saint-gobain.com/en/finance/regulated-information/half-yearly-financial-report
Important disclaimer – forward-looking statements:
This press release 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 Saint-Gobain’s control, including but not limited to the risks described in the “Risk Factors” section of Saint-Gobain’s 2025 Universal Registration Document and the main risks and uncertainties presented in the 2026 half-year financial report, both documents being available on Saint-Gobain’s website (www.saint-gobain.com). 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, except as required by applicable laws and regulations.
This press release does not constitute any offer to purchase or exchange, nor any solicitation of an offer to sell or exchange securities of Saint-Gobain.
For further information, please visit www.saint-gobain.com
ANALYST/INVESTOR RELATIONS
Vivien Dardel (+33) 1 88 54 29 77
Floriana Michalowska (+33) 1 88 54 19 09
Karim Safsaf (+33) 1 88 54 00 60
James Weston (+33) 1 88 54 01 24
PRESS RELATIONS
Patricia Marie (+33) 1 88 54 26 83
Laure Bencheikh (+33) 1 88 54 26 38
Yanice Biyogo (+33) 1 88 54 01 89
Appendix 1: Sales by Region
| Q3 2025 | Change on | Exchange | Structure | |||||
|---|---|---|---|---|---|---|---|---|
| (in €m) | Q3 2026 (in €m) | actual structure basis | Change in local currencies | Like-for-like change | rate impact | impact | ||
| Northern Europe | 3,454 | 3,410 | -1.3% | -2.5% | +3.4% | +1.2% | +1.2% | -5.9% |
| Southern Europe, ME & Africa | 3,815 | 3,863 | +1.3% | +1.4% | +1.6% | -0.1% | -0.1% | -0.2% |
| Americas | 3,211 | 3,308 | +3.0% | -0.7% | +0.6% | +3.7% | +3.7% | -1.3% |
| Asia-Pacific | 1,333 | 1,456 | +9.2% | +8.5% | +8.0% | +0.7% | +0.7% | +0.5% |
| Internal sales and misc. | -389 | -413 | --- | --- | --- | --- | --- | --- |
| Group Total | 11,424 | 11,624 | +1.8% | +0.4% | +2.5% | +1.4% | +1.4% | -2.1% |
| of which Industrial solutions | 1,436 | 1,501 | +4.5% | --- | +1.0% | --- | --- | --- |
| 9m 2025 (in €m) | 9m 2026 (in €m) | Change on | Exchange | Structure | ||||
|---|---|---|---|---|---|---|---|---|
| actual structure basis | Change in local currencies | Like-for-like change | rate impact | impact | ||||
| Northern Europe | 10,469 | 10,436 | -0.3% | -1.5% | +1.8% | +1.2% | +1.2% | -3.3% |
| Southern Europe, ME & Africa | 12,029 | 12,251 | +1.8% | +2.0% | +2.0% | -0.2% | -0.2% | +0.0% |
| Americas | 10,070 | 9,674 | -3.9% | -3.0% | -2.4% | -0.9% | -0.9% | -0.6% |
| Asia-Pacific | 3,943 | 4,117 | +4.4% | +8.4% | +7.3% | -4.0% | -4.0% | +1.1% |
| Internal sales and misc. | -1,235 | -1,259 | --- | --- | --- | --- | --- | --- |
| Group Total | 35,276 | 35,219 | -0.2% | +0.1% | +1.2% | -0.3% | -0.3% | -1.1% |
| of which Industrial solutions | 4,410 | 4,456 | +1.0% | --- | +0.8% | --- | --- | --- |
Appendix 2: Details of organic sales growth and external sales
| Q3 2026 | Like-for-like change | % Group |
|---|---|---|
| Northern Europe | +3.4% | 28.0% |
| Nordics | +3.8% | 10.8% |
| United Kingdom - Ireland | -5.4% | 4.0% |
| Germany - Austria | +1.3% | 3.3% |
| Southern Europe, ME & Africa | +1.6% | 31.9% |
| France | +0.8% | 21.6% |
| Spain - Italy | +0.8% | 5.3% |
| Americas | +0.6% | 28.0% |
| North America | +2.0% | 19.8% |
| Latin America | -3.0% | 8.2% |
| Asia-Pacific | +8.0% | 12.1% |
| Group Total | +2.5% | 100.0% |
| 9-month 2026 | Like-for-like change | % Group |
|---|---|---|
| Northern Europe | +1.8% | 28.3% |
| Nordics | +2.2% | 11.5% |
| United Kingdom - Ireland | -4.6% | 3.9% |
| Germany - Austria | -0.8% | 3.3% |
| Southern Europe, ME & Africa | +2.0% | 33.4% |
| France | +1.4% | 23.0% |
| Spain - Italy | +1.8% | 5.7% |
| Americas | -2.4% | 27.0% |
| North America | -2.9% | 19.2% |
| Latin America | -1.9% | 7.8% |
| Asia-Pacific | +7.3% | 11.3% |
| Group Total | +1.2% | 100.0% |
Appendix 3: Contribution of prices and volumes to organic sales growth by Region
| Q3 2026 | Like-for-like change | Prices | Volumes |
|---|---|---|---|
| Northern Europe | +3.4% | +3.0% | +0.4% |
| Southern Europe, ME & Africa | +1.6% | +4.0% | -2.4% |
| Americas | +0.6% | +1.4% | -0.8% |
| Asia-Pacific | +8.0% | +4.7% | +3.3% |
| Group Total | +2.5% | +3.2% | -0.7% |
| 9-month 2026 | Like-for-like change | Prices | Volumes |
|---|---|---|---|
| Northern Europe | +1.8% | +1.9% | -0.1% |
| Southern Europe, ME & Africa | +2.0% | +2.2% | -0.2% |
| Americas | -2.4% | -0.1% | -2.3% |
| Asia-Pacific | +7.3% | +2.7% | +4.6% |
| Group Total | +1.2% | +1.5% | -0.3% |