February 29, 2024 | Paris, France

2023 Annual Results: Record Operating Margin and Free Cash Flow

  • Good resilience in sales, down 0.9% like-for-like despite a difficult environment in new construction in Europe
  • Record operating margin of 11.0% (up in all Regions) and record operating income at constant exchange rates
  • Record free cash flow of €3.9bn, with a cash conversion ratio of 62%
  • 34% reduction in CO2 emissions vs 2017 (scope 1 and 2)
  • Total shareholder return (TSR) of 51% in 2023, with €1.6bn of share buybacks and dividends. Dividend of €2.10 (+5%) recommended for 2023
  • 2024 outlook: despite a context which remains difficult in certain markets, the Group expects a double-digit operating margin for the fourth consecutive year

View the complete Press Release here

View the complete Press Release here (French)

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