COMPAGNIE DE SAINT-GOBAIN
LAPEYRE GROUP
First-Half Estimated Consolidated Sales and Earnings
The Board of Directors met on July 21, 1999 and examined the estimated
consolidated financial statements for the period ended June 30, 1999.
Consolidated Sales Up 21.6%
Sales by Business June 30, 1999 June 30, 1998 % Change
FRM m EURO m FRM m EURO m
France 2,187 333 2,046 312 6.9%
Lapeyre and GME 303 46 251 38 20.7%
K par K 560 85 510 78 9.8%
SGM-Oxxo-Les Zelles
Total France 3,050 464 2,807 428 8.7%
Total International 540 82 146 22 NM
Consolidated Total 3,590 546 2,953 450 21.6%
In France, the Group achieved a good level of activity in a growing market.
Outside France, market conditions were unfavourable in Germany, Belgium and
Switzerland, and positive in Poland and Spain. On the same structure of
consolidation, sales rose by 7.1% over the period.
First Half Estimated Consolidated Earnings Up 12.7%
in millions of French francs June 30, 1999 June 30, 1998 % Change
Sales 3,590 2,953 21.6%
Pre-tax profit on ordinary activities 375 329 13.8%
Current and deferred taxes (157) (138) 13.9%
Net profit before minority interests 214 188 13.9%
Net profit 212 188 12.7%
First half operating income rose by 14% on a comparable structure of
consolidation and by 18.4% on a reported basis. Net profit was up 14.1% on a
comparable structure of consolidation and 12.7% on a reported basis.
Consolidated sales and profits are now both subject to greater seasonal
variations than before, due to the seasonal nature of businesses at Lapeyre
Deutschland, ERG and Okfens.
In the second half, sales are expected to maintain the same pace of growth as in
the first half, and consoldiated net profit is expected, at least, to track
sales growth.
Lapeyre-Investor Relations
Patrick Mallet
Phone: +33 (0) 1.48.11.74.14
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