Saint Gobain to build on construction momentum after a year record

Saint-Gobain had reported a full-year growth record and earnings with Celotex and Lapeyre brands citing momentum in American and Asian construction markets and its exposure to the European renovations. The company told the media that it had witnessed an 18.4% year-on-year (YoY) organic revenue growth in 2021. It said it had increased prices in an attempt to offset the impact of inflation. The company said that the price effect was positive at 6.7% for 2021, increasing steadily throughout the year and standing at 9.5% in the second half (H2) and 10.3% in the fourth quarter (Q4). As power prices have constrained industrial production and higher bills to the consumers, the European Commission has called on EU states to use the €750 billion recovery fund to renovate buildings to cut power usage. It will force all governments to move towards green energy, decarbonise the industry and insulate public and private buildings at full pace. Chief Executive Officer of Saint-Gobain, Benoit Bazin, said that Brussels has estimated that 35 million buildings require renovation by 2030 as part of the region's 2050 carbon neutrality shift. Saint-Gobain is a manufacturer and distributor in sectors ranging from automotive and food and beverages, reporting a 57.9% growth in operating income to €4.51 billion. Image Source Also read: Saint Gobain plans to triple revenue to Rs 30000 cr in 10 years