Saint-Gobain 1st Quarter revenue EUR 7.296 billion versus EUR 7.268 billion

Date: 29 April 2002
Source: Yahoo

Date: 29 April 2002

Saint-Gobain SA said that its revenues rose 0.4% to EUR 7.296 billion in the first quarter, from EUR 7.268 billion a year earlier, as shrinking sales volumes offset a 1% rise in prices.

On a comparable basis, excluding exchange-rate fluctuations, revenues fell 1.0%, the French building materials supplier said.Revenue was well below analyst estimates of a 1.2% rise to EUR 7.36 billion.Saint-Gobain blamed the fall on a sharp drop in revenues from its high- performance materials unit which primarily sells into the electronics industry, down 14.4% to EUR955 million like-for-like and unusually high revenue across the board in the prior year.But on a comparable basis, revenue from all of its businesses also slid, with the exception of its housing products unit, for which revenue advanced a lukewarm 0.8% on stable U.S. construction-related sales, Saint-Gobain said.Revenue from its glass arm fell 0.5% to EUR2.92 billion, partially due to pricing pressure, Saint-Gobain said.Like-for-like revenue from its housing products and glass units were stable, Saint-Gobain said.Geographically, revenue fell a sharp 4.7% in Europe (outside France ) and 1.6% in North America.The company gave little insight into 2002, keeping a broad target of 2002 revenue growth of flat to 4%, pending a rebound in U.S. industrial activity in the second half.In other news, the company said it has merged its pipe business with its building materials distribution unit.Saint-Gobain SA said that its revenues rose 0.4% to EUR 7.296 billion in the first quarter, from EUR 7.268 billion a year earlier, as shrinking sales volumes offset a 1% rise in prices.

On a comparable basis, excluding exchange-rate fluctuations, revenues fell 1.0%, the French building materials supplier said.

Revenue was well below analyst estimates of a 1.2% rise to EUR 7.36 billion.

Saint-Gobain blamed the fall on a sharp drop in revenues from its high- performance materials unit which primarily sells into the electronics industry, down 14.4% to EUR955 million like-for-like and unusually high revenue across the board in the prior year.

But on a comparable basis, revenue from all of its businesses also slid, with the exception of its housing products unit, for which revenue advanced a lukewarm 0.8% on stable U.S. construction-related sales, Saint-Gobain said.

Revenue from its glass arm fell 0.5% to EUR2.92 billion, partially due to pricing pressure, Saint-Gobain said.

Like-for-like revenue from its housing products and glass units were stable, Saint-Gobain said.

Geographically, revenue fell a sharp 4.7% in Europe (outside France ) and 1.6% in North America.

The company gave little insight into 2002, keeping a broad target of 2002 revenue growth of flat to 4%, pending a rebound in U.S. industrial activity in the second half.

In other news, the company said it has merged its pipe business with its building materials distribution unit.

600450 Saint-Gobain 1st Quarter revenue EUR 7.296 billion versus EUR 7.268 billion glassonweb.com

See more news about:

Others also read

William A. Wulfsohn, vice president and general manager of Nylon System for Honeywell International, has been named vice president of European coatings for PPG Industries (NYSE:PPG) and managing director of PPG Europe. "Bill will play a vital role in helping our European coatings businesses achieve their full potential," said Michael A.
Apogee Enterprises Inc. reported level sales but an increase in earnings for the third quarter of its fiscal 2003. Bloomington-based Apogee, which makes glass products and services, said the earnings increase was mainly the result of improvements in its architectural glass business.
Bystronic is to take over Armatec Vierhaus GmbH with effect from 1 January 2003. For Bystronic, a global supplier of system solutions for the manufacture of architectural and automotive glass, the takeover of Armatec, which specialises in laminated safety glass and handling systems, ideally complements the Bystronic portfolio.
The butterflies at Melbourne Zoo have gone upmarket with a new accommodation wing featuring Pilkington glass.
Owens-Brockway Glass Container Inc., an indirect wholly-owned subsidiary of Owens-Illinois, Inc., (NYSE: OI) announced today that is has closed on the sale of $175 million principal amount of its 8-3/4% Senior Secured Notes due November 15, 2012.
UCB reached an agreement with Solutia to acquire Solutia's Resins, Additives & Adhesives activity for $500 million, plus a $10 million exclusivity fee.

Add new comment