Saint-Gobain Sales Down 1.4% in Third Quarter - Modern Distribution Management

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Saint-Gobain Sales Down 1.4% in Third Quarter

Currency impact decreased net sales by 4.3 percent.
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European building materials supplier Saint-Gobain reported sales for the third quarter of €10.8 billion (US$14.9 billion), a decrease of 1.4 percent compared to the same period a year ago. This reflects a strong negative currency impact (-4.3 percent), a slightly negative group structure impact (-0.2 percent) and organic growth of 3.1 percent, with volumes up 2.2 percent and prices gaining 0.9 percent.

Innovative materials sales decreased 3.7 percent to €2.2 billion (US$3 billion). Construction products sales were €3 billion (US$4.1 billion), 0.3 percent below the prior-year period. Building distribution segment sales decreased 0.9 percent to €4.9 billion (US$6.8 billion). Packaging sales were €927 million (US$1.3 billion), down 2.1 percent.

Geographically, sales increased 0.4 percent in other Western Europe. Sales decreased in France, North America, and emerging countries and Asia by 1.6 percent, 3.7 percent and 1.8 percent, respectively.

“We maintained our focus on increasing prices amid a slower rise in raw material and energy costs, and also continued to roll out our cost cutting program," said CEO Pierre-André de Chalendar.

For the first nine months, sales for Saint-Gobain were €31.6 billion (US$43.6 billion), a decrease of 3 percent compared to the same period a year ago. The currency impact was a negative 2.3 percent, mainly reflecting the fall against the euro of the key emerging market currencies (chiefly the Brazilian real) along with the pound sterling and U.S. dollar.

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