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Home » Saint-Gobain Sales Down 13.7% in 2009

Saint-Gobain Sales Down 13.7% in 2009

By    MDM  Staff 
February 26, 2010
More about:  Building Materials/Construction,  Chemicals/Plastics,  Europe,  Industrial
Sales in North America for Saint-Gobain down 14.5%.
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Saint-Gobain sales were €37.7 billion (US$51.5 billion) in fiscal 2009, down 13.7% from the previous year. Profit was €202 million (US$276.1 million), down 85.3% year-on-year.
 
By Sector:
Innovative Materials saw operating margin grow from 2.7% in the first half to 6.7% in the second. Flat Glass saw growth in sales during the same period, due to a "sharp upturn" in sales in Asia and Latin America, and in Automotive Flat Glass globally. In additional a rise in the price of float glass in Europe contributed. High-Performance Materials also saw gains throughout the year, reflecting growth in Asia and Latin America.
 
Construction Products stabilized over the second half of 2009 compared with the first half, both for the sector as a whole and for each of its businesses. Interior solutions sales declined in the second half compared with the first. Exterior Solutions saw an improvement in the second half in North America, Asia and emerging countries.
 
Building Distribution saw a slight improvement in trading in the second half of the year compared with the first, with sales declining only 9.9% after 14.5% in the first half. While the UK and Spain remained the hardest hit by the economic crisis, their performance benefits from a weaker comparative period (second-half 2008). Germany and Scandinavia continued to hold up well in the second half of the year.
 
Most other European countries and the U.S. reported a slight slowdown in the pace of decline compared with the first half. Upbeat sales margins and especially the restructuring measures carried out helped drive a significant improvement in the sector’s operating margin, up to 3.4% in the second half of the year from 1.4% in the first half.
 
Packaging continued to turn in a solid performance despite the crisis, with sales and operating income for the year virtually unchanged from 2008, and organic sales down only in low single
 
Overall, throughout all segments, North Americawas affected by the continuing decline in construction coupled with the collapse in industrial markets over the first half of the year. Like-for-like sales retreated 14.5% over the year. The decline was smaller in the second half due to a slowdown in the decrease in volumes.
 
More details on geographic and product segments, click here.

 
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