DAVY VIEW

So far this decade, Saint-Gobain has successfully executed a transition into a higher margin, better returns business with a more attractive operating portfolio (geographically and product). The group has now outlined its ambitions for the remainder of the decade. The targets set out look ambitious; of specific note is Saint-Gobain’s push to increase its exposure to the non-residential and infrastructure sectors, which includes a projected €12bn of growth capex and acquisition spend. In addition, asset rotation is expected to represent over 20% of revenues by 2030.