(AOF) – In 2023, Saint Gobain’s consolidated net income, group share, fell by 11.1% to 2.66 billion euros. Over this period, its turnover and ancillary products fell by 6.4% to 47.9 billion euros. The group emphasizes that its operating margin increased to 11% and that it recorded a record free cash flow at 3.9 billion euros. The Board of Directors has decided to propose to the General Meeting of June 6, 2024 the cash distribution of a dividend increasing by +5% to 2.10 euros per share for 2023 (compared to 2 euros in 2022).
Furthermore, the group plans to complete its 2 billion euro share buyback program announced in 2021 for 5 years, in 2024, a year earlier than planned, with 420 million euros in share buybacks. This year.
The group is targeting a double-digit operating margin for the fourth consecutive year in 2024.
In 2024, the company will continue to implement the strategic priorities of the “Grow & Impact” plan that it has set for the period 2021-2025.
Thus, it will continue its actions on profitability and the generation of free cash flow. It plans to outperform its markets by strengthening its profitable growth profile. It will deploy with commitment its ESG roadmap as a leader in sustainable construction
“Our actions on costs and pricing management allowed us to improve operating margin and free cash flow generation, both of which reached a historic level,” said CEO Benoît Bazin.
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