Compagnie de Saint-Gobain
4 November 1999
SAINT-GOBAIN
CONSOLIDATED SALES FOR THE FIRST NINE MONTHS OF 1999
The consolidated net sales of the Saint-Gobain Group for the first nine months
of 1999 amounted to EUR 16,721 million (FRF 109.683 million), compared with EUR
13,300 million (FRF 87,241 million) for the same period of 1998. This
represented an increase of 25.7% or 8.9% excluding Essilor and the downstream
Flat Glass business. Based on a comparable structure, before full
consolidation of Essilor and the Flat Glass transformation subsidiaries, net
sales dropped 0.6% in euro but rose by 1.3% in local currencies.
The confirmation of improved economic conditions in Europe helped the increase
in third quarter sales across substantially all divisions, offsetting the
continued decline in Pipe sales.
Sales by sector, division and geographic area were as follows:
9 months 9 Months Change Change based
ended ended on comparable
September September structure and
30,1998 30,1999 In local
currencies
GLASS (1) 6113 7522 23.0% 2.7%
Flat glass 1705 2716 59.3% 4.2%
Insulation & Reinforcements 1830 2077 13.5% 5.1%
Containers 2580 2731 5.8% 0.1%
HIGH-PERFORMANCE MATERIALS (1) 2106 3305 n.m -2.9%
Industrial Ceramics and
Abrasives 2106 2085 -1.0% -2.9%
Essilor ---- 1220 ---- -----
HOUSING (1) 5161 5994 16.1% 1.5%
Building Materials 1715 1968 14.8% 8.6%
Building distribution 2386 2995 25.5% 7.7%
Pipe 1174 1149 -2.2% -23.5%
INTERCOMPANY(INTER-SECTOR)
SALES -80 -100 --- ----
TOTAL SALES 13300 16721 23.7% 1.3%
BY GEOGRAPHIC AREA
France 5210 6845 31.3% -2.6%
Other Europe 4014 5452 35.8% 2.7%
America/Asia 4569 4952 8.4% 3.4%
INTERCOMPANY SALES -493 -528 ----- -----
TOTAL SALES 13300 16721 25.7% 1.3%
(1) before elimination of inter-divisional sales
Glass sector sales continued to grow, reflecting sustained demand in both Europe
and the United States - especially in the construction market - and the effect
of price increases in the Insulation Division.
High-performance materials sales were affected, as in the first half-year, by
weak demand for the electro-fused ceramics and refractories in the Industrial
Ceramics Division. The Division's third quarter sales were up on the same period
of 1998, however, based on a comparable structure and at constant exchange
rates.
Housing sector sales expanded at a similar rate as total Group sales, on a
comparable structure basis and at constant exchange rates, despite lower Pipe
Division sales. Sales by the Building Materials and Building Distribution
Divisions continued to grow, helped by the good level of activity in the market
in the United States and France.
Outlook
The Group confirms its objective of achieving at least 15% growth in 1999
earnings per share, excluding capital gains and after taking into account the,
impact of last Junes reduction of 5% of share capital.
Investor Relations Department
Tel... Florence TRIOU 01 47 62 45 19
Tel... Lounis BEKKAT 01 47 62 32 36
Fax : 01 47 62 50 62
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.