"Many American investors have increased their stake in Saint-Gobain quite significantly in recent years (...), we aim to attract more North American investors in the years to come," said Mr. Bazin during the presentation of his wishes to the press, in response to a journalist's question.
But the group, created in 1665 during the founding of the Royal Glass and Mirror Factory by Colbert, minister of Louis XIV, has "a long way to go" before it can imagine requesting a possible dual listing, in France and on a North American stock exchange, he added.
The group, with 900 factories (including more than 90 in France), is mainly planning to "continue" to talk to North American investors, either on the West Coast of the United States or in Canada, where it has become number one for construction materials in three years.
"In three years, from 2021 to 2024, we have tripled our size in Canada (...) We are now visible to large investors, funds, Canadian portfolios," he said.
The group, which will announce its 2024 results on February 27, plans to increase its operating margin for the fourth consecutive year, "above the 11% of 2023", recalled Mr. Bazin, who also renewed his caution on the recovery of the French construction market: within "several quarters".
In 2025, Saint-Gobain will continue to develop its geographic diversification strategy towards countries "with high development potential" (North America, Asia and developing countries) and in the construction chemicals sector.
In this area, which covers additives intended to decarbonize cement and concrete, glues, sealing products, facade coatings and exterior insulation, its turnover rose to 6,5 billion euros last year, or "two and a half times that of 2020".
Saint Gobain has opened 21 new factories in 2024, "one every two or three weeks", in Turkey, Australia, Brazil and China in particular, and plans to continue this trend.
The group, which has shed 9,5 billion euros in turnover in five years from its least profitable activities, should however slow down its disposals.