Compagnie de Saint-Gobain Second Half Results
RNS Number : 8356K
Compagnie de Saint-Gobain
06 January 2021
January 6, 2021, 6:00 pm
SAINT-GOBAIN: Q4 SALES SIGNIFICANTLY OUTPERFORM EXPECTATIONS
RECORD OPERATING MARGIN IN SECOND-HALF 2020
Sales for the fourth quarter of 2020 are expected to
significantly outperform expectations and reach around EUR10.2
billion, representing organic growth* of more than 6%, with a
strong pricing dynamic.
The second-half results were buoyed by upbeat momentum on most
of the Group's markets, the full impact of the cost savings and
successful portfolio optimization measures under the "Transform
& Grow" program, reductions in discretionary spending, and a
very positive price-cost spread.
In these conditions, operating income for second-half 2020 will
exceed EUR2,000 million, representing like-for-like* growth of more
than 20% compared to second-half 2019. The operating margin for
second-half 2020 will therefore hit a record level.
The full annual results for 2020 along with the outlook for 2021
will be published on February 25, 2021.
* Based on comparable Group structure and exchange rates.
Saint-Gobain designs, manufactures and distributes materials and
solutions for the construction, mobility, healthcare and other
industrial application markets. Developed through a continuous
innovation process, they can be found everywhere in our living
places and daily life, providing wellbeing, performance and safety,
while addressing the challenges of sustainable construction,
resource efficiency and the fight against climate change.
This strategy of responsible growth is guided by the
Saint-Gobain purpose, "MAKING THE WORLD A BETTER HOME", which
responds to the shared ambition of all the women and men in the
Group to act every day to make the world a more beautiful and
sustainable place to live in.
EUR42.6 billion in sales in 2019
More than 170,000 employees, located in 70 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain,
visit www.saint-gobain.com and follow us on Twitter
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(END) Dow Jones Newswires
January 06, 2021 12:12 ET (17:12 GMT)