1 Saint-Gobain Today Highlights of 2021 SAINT-GOBAIN UNIVERSAL REGISTRATION DOCUMENT 2021 23 Feedback on a pivotal year 3.2 2021 was a year of transition for Saint-Gobain in more ways than one. Firstly, this is the second year of the “new normal” following the outbreak of the Covid-19 pandemic and its consequences. Beyond the shock of the crisis, this event has profound effects on growth, consumption, the organization of production and supply chains. These phenomena have a direct impact on the Group’s value creation model: in a context of accelerating energy cost inflation, in October 2021 for example, Saint-Gobain expected an increase in its energy and raw materials costs of around €1.5 billion in 2021 compared to 2020, of which €1.1 billion for the second half alone (1). This set of new constraints and risk factors is superimposed on major trends, both structural and global, such as climate change, depletion of natural resources, population growth, digitalization or changing lifestyles (see chapter 2, section 1.1). In this context, the light and sustainable construction sector, in which the Group is very well positioned, represents a structurally growing market, requiring solutions that can help decarbonize the economy, move towards the circular economy, and meet the needs arising from urbanization. In this context, in 2020 Saint-Gobain took up the challenge posed by the pandemic, by taking care of its stakeholders, by demonstrating its commitment to serving society as a whole, and by demonstrating its ability to prepare the future, thanks to an agility and tenacity which are both the product of the Group’s culture and the strategic orientations adopted as part of the “Transform & Grow (2)” plan. This transformation plan, announced at the end of 2018 and implemented over a two-year period, has enabled Saint-Gobain to achieve major objectives: greater speed and greater consistency in its operations; refocusing on growth and cash generation requirements; and lastly, maintaining a portfolio of activities and brands consistent with the strategy, through a value-creating approach to mergers, acquisitions and disposals. construction, improving the daily lives of everyone thanks to its high performance solutions (see chapter 2, section 2). The Group is thus positioned as a provider of solutions to the complex problems faced by its customers, satisfying a dual requirement of sustainability and performance (see chapter 3, section 3.4.4). In early 2021, Saint-Gobain was an efficient Group, strengthened by its new local organization and its “multi-national” culture, driven by performance and proximity to its customers, whose employees share the same ambition, summarized by its purpose: “Making the world a better home”. On these solid foundations, Saint-Gobain announced its strategic plan in October 2021, “Grow & Impact”, formulating a clear vision: to be the worldwide leader in light and sustainable By capitalizing on its potential for innovation, and by fully exploiting the source of value offered by data, “Grow & Impact” aims to enable Saint-Gobain to outperform its underlying markets, achieve its CSR objectives by systematically minimizing its footprint across its entire value chain, and maximize its positive impact in multiple areas: customer satisfaction and performance, value creation for its shareholders, as well as the well-being and commitment of its employees. “Grow” represents the power to boost Saint-Gobain’s ■ growth as an international Group by designing, producing and distributing the most innovative, efficient and sustainable solutions for its customers; “Impact” represents the responsibility of having a ■ positive impact on everyone’s life by ensuring personal and collective well-being, while taking care of the planet. To achieve Saint-Gobain’s medium and long-term objectives, the “Grow & Impact” plan is based on six major levers: positioning itself in high-growth markets; being a supplier of solutions; accelerating growth by putting the customer at the heart of innovation and by unleashing the power of digital technology through the collection and use of data; embedding CSR at the heart of the Group’s business model; feeding a culture of trust and responsibility; and finally, focusing on talent, diversity and inclusion. For the full presentation of the “Grow & Impact” plan and its various priorities, see chapter 2, section 3. 2021 was also marked by a milestone in the governance of Saint-Gobain, the transfer of responsibilities between Pierre-André de Chalendar and Benoit Bazin. From July 1, the latter took over as Chief Executive Officer, in accordance with the decision taken by the Board of Directors to ensure a smooth transition, separating the functions of Chairman and Chief Executive Officer. Pierre-André de Chalendar remains Chairman of the Board of Directors of Saint-Gobain (3). (1) Press release, October 6, 2021. (2) Saint-Gobain 2020 Universal Registration Document, p.18-20. (3) Press release, June 3, 2021.
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