The 2020 Mid-Year Economic Update_long

Saint-Gobain 2012 Sales Up 2.6%

In response to European slowdown, Saint-Gobain cut 520 million (US$690 million) in costs.

European building materials supplier Saint-Gobain reported sales for the full year 2012 of €43.2 billion (US$57.4 billion), an increase of 2.6 percent compared to 2011. Profit decreased 40.3 percent to €766 million (US$1 billion).

In France and other Western European countries, like-for-like sales were down 2.5 percent and 4.3 percent, respectively, due to a sharp drop in Flat Glass and Pipe sales. North America posted 2.3 organic growth, with a positive contribution from all business sectors,  especially Construction Products. Sales in Asia and emerging countries were virtually stable (down 0.1 percent) on a like-for-like basis.

 “2012 saw a further general slowdown in economies across Europe as well as slacker growth on our main markets (particularly Flat Glass) in Asia and emerging countries," Pierre-André de Chalendar, chairman and CEO, said.

"Faced with this bleaker economic climate, which hit our trading and earnings performances, we were very quick to react, cutting another €520 million (US$690 million) in costs and keeping a closer watch on cash," Chalendar said.

Fourth-quarter sales for Saint-Gobain were €10.7 million (US$14.2 million), a year-over-year increase of 1.6 percent.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.