PARIS – French construction material group Saint-Gobain, which has faced pressure from investors to increase its profitability, on Thursday confirmed it is aiming for growth in operating income in 2022.
Growth would come mainly through the prices it attains for its products, the company said in a statement.
“In this context, Saint-Gobain confirms that it is targeting a further increase in operating income in 2022 compared with 2021 at comparable exchange rates”, the company said in a statement.
Activist investment firm Bluebell Capital last month called for a shake-up at the company.
In response to Bluebell Capital’s comments, St Gobain said the company valued the “input and perspectives we receive from investors and the constructive dialogue with them”.
(Reporting by Tassilo Hummel; editing by Benoit Van Overstraeten and Jason Neely)