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Saint-Gobain // Universal Registration Document 2021
Message from Pierre-André de Chalendar, Chairman of the Board of Directors of Saint-Gobain
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Message from Benoit Bazin Chief Executive Officer of Saint-Gobain
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1. Saint-Gobain Today
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1. Saint-Gobain in figures
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1.1 Key figures
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1.2 Markets
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1.3 Global presence
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1.4 Financial and non-financial performance
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2. Saint-Gobain’s DNA
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2.1 Major milestones in the construction of the Group
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2.2 The fundamentals of Saint-Gobain’s identity
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2.3 The value creation model
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3. Highlights of 2021
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3.1 Timeline of significant events
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3.2 Feedback on a pivotal year
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4. The Group’s activities
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4.1 An offer based on the expectations of Saint-Gobain customers
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4.2 A range of solutions based on business expertise
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4.3 Main brands and competitive environment
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5. Organization and governance
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5.1 The Group’s global organization
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5.2 Governance
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2. Strategy
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1. The Group’s environment
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1.1 Major challenges and opportunities
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1.2 Trends in the Group’s various markets
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1.3 The Group's stakeholders
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2. Saint-Gobain’s vision: to be the worldwide leader in light and sustainable construction
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3. The action: a strategic plan based on six priorities
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3.1 Positioning the Group in high-growth markets
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3.2 Being a solution provider
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3.3 Accelerating growth through innovation and digital tools
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3.4 Embedding CSR at the heart of the business model
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3.5 Building a culture of trust, responsibility and collaboration
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3.6 Focusing on talent, diversity and inclusion
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4. The financial approach: allocating the Group’s resources efficiently
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4.1 Implementing an investment policy targeting growth
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4.2 Ensuring agile and value-creating portfolio management
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3. An efficient and responsible Group
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1. Demonstrate ethics and responsibility
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1.1 Ethics and compliance
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1.2 Main ethics and compliance policies
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1.3 Respect for human rights in the Group’s activities
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1.4 Responsible purchasing
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1.5 Participation in public debate
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1.6 The alert system - SpeakUp @Saint-Gobain
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2. Maximize the contribution for the planet and communities
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2.1 Climate change: towards a just transition
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2.2 Resource conservation and the transition to the circular economy
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2.3 Community engagement
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3. Achieve excellence in operations
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3.1 A complex model: the Saint-Gobain value chain
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3.2 Purchasing and logistics optimization
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3.3 Industrial and distribution operations
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3.4 Meeting customer expectations
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4. Promoting a healthy, open and engaging work environment
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4.1 Deploying an engaged HR policy
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4.2 Protecting the health and safety of employees
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4.3 Fostering employee commitment
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4. 2021 results and outlook for 2022
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1. Financial results
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1.1 2021-2025 “Grow & Impact” plan: successful execution of the 1st year
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1.2 Operating performance
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1.3 Financial results
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1.4 Shareholder return policy
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1.5 Outlook and strategic priorities
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2. Non-financial results
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2.1 Alignment of the CSR dashboard with the Group’s challenges
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2.2 Non-financial indicators
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2.3 Integration of the United Nations sustainable development goals
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5. Corporate governance
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1. Composition and operation of the governing bodies
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1.1 Composition of the Board of Directors
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1.2 Operation of the Board of Directors
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1.3 The Group’s Senior Management
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2. Compensation of the management and governing bodies
181
2.1 Directors’ compensation
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2.2 Compensation of Executive corporate officers
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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
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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)
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5. Statutory Auditors’ special report on related-party agreements
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6. Risks and control
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1. Risk factors
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1.1 Risks specific to the Group and its business sector
228
1.2 Group structural risks
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1.3 Financial risks
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1.4 Legal risks
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1.5 Insurance
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2. Internal control
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2.1 Compagnie de Saint-Gobain’s internal control and risk management system
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2.2 Parties involved in internal control and risk management
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2.3 The internal control and risk management system in the Group entities
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2.4 The procedure for monitoring the internal control and risk management system
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2.5 Guidelines and procedures
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2.6 Organization of internal control in preparing and processing financial and accounting information to the Shareholders
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7.Capital and ownership structure
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1. Capital stock
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1.1 Share capital
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1.2 Financial authorizations currently in force
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1.3 Saint-Gobain treasury shares and acquisition of own shares
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1.4 Major shareholders
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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
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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
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8. Financial and accounting information
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1. 2021 Consolidated Financial Statements
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Consolidated Balance Sheet
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Consolidated income statement
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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
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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
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Significant events during the year
368
Other mandatory disclosures
370
6. Five year financial summary
371
9. Additional information and cross-reference tables
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1. Additional information
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1.1 Principal statutory provisions and internal rules of the Board of Directors
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1.2 Documents available to the public
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1.3 Persons responsible for the Universal Registration Document
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1.4 Information about the Statutory Auditors
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1.5 Address
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2. CSR Information
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2.1 Note on methodology
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2.2 Auditors’ opinion
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3. Cross-reference tables
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3.1 Cross-reference table for the Universal Registration Document
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3.2 Cross-reference table for the Annual Financial Report
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3.3 Cross-reference table for social and environmental information: Declaration of Non-Financial Performance
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3.4 Concordance table for social and environmental information: vigilance plan
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3.5 Classification of activities according to the European regulatory framework allowing the definition of environmental sustainable economic activities
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4. Glossary
398
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