Saint-Gobain Sells Its Dahl Business in the Nordic Countries to Kesko
Saint-Gobain signed a binding agreement on Monday for the sale of its specialized distribution branch Dahl in Sweden, Norway, and Denmark to the Finnish group Kesko, with an enterprise value of 1.518 billion euros. This transaction is part of the French group's 'Lead & Grow' strategic plan and is expected to be finalized in early 2027, subject to approval from competition authorities.
The divested business, operating under the Dahl brand, generated approximately 2 billion euros in revenue in 2025. It employs 2,700 staff and operates 190 sales outlets across the three Nordic countries. Dahl is positioned as a leader in specialized distribution of plumbing, sanitary, and heating products in Sweden, Norway, and Denmark.
Kesko, a leader in the trading sector in Northern Europe, will thus take over an established portfolio in a key region for Saint-Gobain. This sale deepens the strategic partnership between Kesko and Saint-Gobain in the Nordic countries.
Valuation at 10.4 Times the 2025 EBITDA
Free · Every morning
Technical market signals, before the opening bell.
Bullish and bearish momentum, analyst changes, stocks to watch — automatically computed from Euronext data.
✓ Before 9 AM every morning✓ Euronext data✓ AI-powered analysis
You're in — subscription confirmed!
Your first edition is on its way. Check your spam folder and add us to your contacts.
An error occurred.
Indicative data. No investment advice. Unsubscribe at any time.
Gratuit · chaque matin
Ne ratez plus rien sur vos actions
La tendance derrière les cours. L'essentiel des valeurs Euronext en quelques minutes.
📈les valeurs en mouvement, sur la durée
🎯les objectifs d'analystes qui évoluent
📰les actualités qui font bouger les cours
tendance · 6 séances
✓ C'est fait, vous êtes inscrit !
Votre première édition arrive bientôt. Pensez à vérifier vos spams.
Une erreur est survenue.
CAC 40 · SBF 120 · données indicatives · aucun conseil en investissement · désinscription à tout moment.
The enterprise value of 1.518 billion euros represents 10.4 times the 2025 EBITDA of the business, including lease commitments (IFRS 16), or 14.6 times excluding lease commitments. This valuation places the transaction within a usual range for well-functioning distribution activities.
Citi acted as the financial advisor for Saint-Gobain, while Linklaters provided legal counsel.
Closure Expected in Early 2027
The completion of the transaction is expected at the beginning of 2027, subject to the approval of competition authorities and the completion of the information and consultation procedure with employee representatives.
SectorImmobilier / construction · Industrie · Matériaux / matières premières · BTP / infrastructures›Autres matériaux de construction
Free · every morning · before 9am
Never miss a move on your stocks
The trend behind the prices · Euronext
✓ You're in! Check your spam folder.
An error occurred.
Context
Period
Period: 2025
Key reported figures
Revenue: 46 483 M€
Revenue growth: -0,2 %
EBITDA: 7 203 M€
EBITDA margin: 15,5 %
Net income: 2 883 M€
Free cash flow: 3 752 M€
10 356 M€
Dividend per share: 2,30 €
Guidance from the release
Je suis convaincu de la création de valeur que Lead & Grow apportera à nos clients comme à nos actionnaires.
Saint-Gobain a publié ses résultats annuels 2025 marqués par une progression du chiffre d'affaires en monnaies locales et une marge d'exploitation stable à 11,4% et EBITDA à 15,5%. Le groupe confirme sa trajectoire et ses objectifs pour le plan Grow & Impact et annonce le lancement du plan Lead & Grow pour 2026-2030, axé sur la croissance rentable et l'accélération de la chimie de la construction.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
