Saint-Gobain // Universal Registration Document 2021

Message from Pierre-André de Chalendar, Chairman of the Board of Directors of Saint-Gobain 2
Message from Benoit Bazin Chief Executive Officer of Saint-Gobain 3
1. Saint-Gobain Today 5
1. Saint-Gobain in figures 6
1.1 Key figures 6
1.2 Markets 6
1.3 Global presence 7
1.4 Financial and non-financial performance 9
2. Saint-Gobain’s DNA 13
2.1 Major milestones in the construction of the Group 13
2.2 The fundamentals of Saint-Gobain’s identity 14
2.3 The value creation model 18
3. Highlights of 2021 20
3.1 Timeline of significant events 20
3.2 Feedback on a pivotal year 23
4. The Group’s activities 24
4.1 An offer based on the expectations of Saint-Gobain customers 24
4.2 A range of solutions based on business expertise 25
4.3 Main brands and competitive environment 29
5. Organization and governance 33
5.1 The Group’s global organization 33
5.2 Governance 34
2. Strategy 37
1. The Group’s environment 39
1.1 Major challenges and opportunities 39
1.2 Trends in the Group’s various markets 45
1.3 The Group's stakeholders 49
2. Saint-Gobain’s vision: to be the worldwide leader in light and sustainable construction 53
3. The action: a strategic plan based on six priorities 54
3.1 Positioning the Group in high-growth markets 54
3.2 Being a solution provider 56
3.3 Accelerating growth through innovation and digital tools 56
3.4 Embedding CSR at the heart of the business model 62
3.5 Building a culture of trust, responsibility and collaboration 64
3.6 Focusing on talent, diversity and inclusion 64
4. The financial approach: allocating the Group’s resources efficiently 66
4.1 Implementing an investment policy targeting growth 66
4.2 Ensuring agile and value-creating portfolio management 67
3. An efficient and responsible Group 69
1. Demonstrate ethics and responsibility 70
1.1 Ethics and compliance 70
1.2 Main ethics and compliance policies 72
1.3 Respect for human rights in the Group’s activities 74
1.4 Responsible purchasing 75
1.5 Participation in public debate 78
1.6 The alert system - SpeakUp @Saint-Gobain 79
2. Maximize the contribution for the planet and communities 80
2.1 Climate change: towards a just transition 80
2.2 Resource conservation and the transition to the circular economy 92
2.3 Community engagement 94
3. Achieve excellence in operations 96
3.1 A complex model: the Saint-Gobain value chain 96
3.2 Purchasing and logistics optimization 97
3.3 Industrial and distribution operations 98
3.4 Meeting customer expectations 104
4. Promoting a healthy, open and engaging work environment 107
4.1 Deploying an engaged HR policy 107
4.2 Protecting the health and safety of employees 108
4.3 Fostering employee commitment 113
4. 2021 results and outlook for 2022 121
1. Financial results 123
1.1 2021-2025 “Grow & Impact” plan: successful execution of the 1st year 123
1.2 Operating performance 123
1.3 Financial results 129
1.4 Shareholder return policy 132
1.5 Outlook and strategic priorities 133
2. Non-financial results 134
2.1 Alignment of the CSR dashboard with the Group’s challenges 134
2.2 Non-financial indicators 136
2.3 Integration of the United Nations sustainable development goals 147
5. Corporate governance 153
1. Composition and operation of the governing bodies 154
1.1 Composition of the Board of Directors 154
1.2 Operation of the Board of Directors 169
1.3 The Group’s Senior Management 180
2. Compensation of the management and governing bodies 181
2.1 Directors’ compensation 181
2.2 Compensation of Executive corporate officers 183
2.3 Compensation of members of the Group’s Senior Management 215
2.4 Long-term compensation plans (performance shares, stock options and performance units) 215
3. Company stock traded by corporate officers 221
4. Report of the Board of Directors on corporate governance (Articles L.225- 37 et seq. and L.22-10-10 et seq. of the French Commercial Code) 222
5. Statutory Auditors’ special report on related-party agreements 223
6. Risks and control 227
1. Risk factors 228
1.1 Risks specific to the Group and its business sector 228
1.2 Group structural risks 232
1.3 Financial risks 232
1.4 Legal risks 233
1.5 Insurance 236
2. Internal control 238
2.1 Compagnie de Saint-Gobain’s internal control and risk management system 238
2.2 Parties involved in internal control and risk management 240
2.3 The internal control and risk management system in the Group entities 245
2.4 The procedure for monitoring the internal control and risk management system 245
2.5 Guidelines and procedures 247
2.6 Organization of internal control in preparing and processing financial and accounting information to the Shareholders 251
7.Capital and ownership structure 255
1. Capital stock 256
1.1 Share capital 256
1.2 Financial authorizations currently in force 257
1.3 Saint-Gobain treasury shares and acquisition of own shares 259
1.4 Major shareholders 261
1.5 Disclosure thresholds in 2021 262
1.6 Employee ownership structure 262
1.7 Shareholder pacts or agreements involving Compagnie de Saint-Gobain shares 263
1.8 Control of the Company 263
1.9 Aspects that may have an effect in the event of a takeover bid 263
2. Stock market information/Securities market 264
2.1 The Saint-Gobain share 264
2.2 Total shareholder return 265
2.3 Bonds 266
2.4 Non-voting participating securities 266
3. Information policy and financial calendar 269
4. Dividends 271
8. Financial and accounting information 273
1. 2021 Consolidated Financial Statements 274
Consolidated Balance Sheet 274
Consolidated income statement 276
Consolidated statement of comprehensive income and expense 277
Consolidated statement of cash flows 278
Consolidated Statement of Changes in Equity 280
Notes to the consolidated financial statements 281
2. Statutory Auditors’ report on the consolidated financial statements 335
3. Compagnie de Saint-Gobain 2021 annual financial statements (parent company) 339
Income statement 339
Balance sheet 340
Notes to the 2021 annual financial statements 341
4. Statutory Auditors’ report on the financial statements 364
5. Management report Compagnie de Saint-Gobain annual financial statements 368
Significant events during the year 368
Other mandatory disclosures 370
6. Five year financial summary 371
9. Additional information and cross-reference tables 373
1. Additional information 374
1.1 Principal statutory provisions and internal rules of the Board of Directors 374
1.2 Documents available to the public 378
1.3 Persons responsible for the Universal Registration Document 379
1.4 Information about the Statutory Auditors 380
1.5 Address 380
2. CSR Information 381
2.1 Note on methodology 381
2.2 Auditors’ opinion 385
3. Cross-reference tables 389
3.1 Cross-reference table for the Universal Registration Document 389
3.2 Cross-reference table for the Annual Financial Report 391
3.3 Cross-reference table for social and environmental information: Declaration of Non-Financial Performance 392
3.4 Concordance table for social and environmental information: vigilance plan 395
3.5 Classification of activities according to the European regulatory framework allowing the definition of environmental sustainable economic activities 396
4. Glossary 398

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