4 2021 results and outlook for 2022 Financial results SAINT-GOBAIN UNIVERSAL REGISTRATION DOCUMENT 2021 125 In 2021, the Group benefited from: a structurally improved post-pandemic volume ■ dynamic, supported by market share gains, leveraging its comprehensive range of solutions developed within the scope of a multi-local organization, with strongly empowered local management as close to customers as possible; good trends in sales prices, generating a positive raw ■ material and energy price-cost spread of €60 million; an optimized profile and portfolio delivering a structural ■ improvement in its profitable growth with a positive impact on the operating margin; €150 million in cost savings resulting from the ■ post-coronavirus adaptation measures launched in 2020, along with the rigorous execution of our ongoing operational excellence program. Segment performance (like-for-like sales) a. Northern Europe: strong sales momentum on the renovation market and record margin 12,807 15,028 +2.4% -0.6% +7.0% +8.5% +17.3% 2021/2019 +12.1% like-for-like 2021 +170 bps 856 1,100 7.3% 5.6% 2021/2020 +15.5% like-for-like Exchange rates Structure Price Volumes 2020 sales 2021 sales 2018 Launch of transformation Sales (€m) Operating income (€m) and margin (%) Sales in the Northern Europe Region were up by 15.5% year-on-year and by 12.1% on 2019, with a stronger 14.9% increase in the second half of the year versus second-half 2019 thanks to a good fourth quarter on structurally supportive renovation markets. The Region’s operating margin hit an annual record high of 7.3% (versus 6.2% in 2020 and 6.3% in 2019), supported by good volume trends, an optimized business profile and a strong acceleration in prices at the end of the year. Fredrikstad factory into the world’s first carbon-neutral plasterboard plant made good progress. Despite the impact of the automotive market contraction on demand for glass, Germany ended the year with an acceleration thanks to sales of light and sustainable construction solutions and should benefit from stimulus measures in the energy efficiency renovation segment in 2022. The UK saw an acceleration in growth in the second half compared to second-half 2019 – in the context of an optimized network – driven by prices and an improvement in sales through Nordic countries reported robust growth over the year as distribution, despite certain logistical difficulties affecting a whole, particularly in sales through distribution and light supply chains. Eastern Europe enjoyed strong growth in construction solutions, on a supportive renovation market. its main markets, particularly Poland, the Czech Republic Our e-commerce platforms proved especially dynamic, and Russia, although the latter represents only around representing up to 30% of sales in specialty segments. 0.5% of the Group’s sales. Investments in Norway aimed at transforming our
RkJQdWJsaXNoZXIy NzMxNTcx