Saint-Gobain: First Quarter 2010 Sales Down 0.5%

Exchange rates accounted for a 1.5% rise in sales, powered chiefly by sharp gains in Scandinavian currencies and most emerging country currencies (particularly the Brazilian real) against the euro, offsetting the slide in the US dollar. Changes in Group structure also had a slightly positive impact, driving sales up 0.4%. Like-for-like (comparable Group structure and exchange rates), consolidated sales were down 2.4%. Volumes slipped 1.7%, while sales prices edged down 0.7% compared to the strong 2.3% rise in first-quarter 2009.
 
This slight drop in like-for-like consolidated sales conceals starkly contrasting performances across business sectors and geographical areas, in line with the economic scenario presented by the Group at the end of February.
 
Trading was very upbeat in the following Group businesses and areas:
- activities linked to industrial output (representing the bulk of sales for the Innovative Materials Sector), which saw double-digit organic growth over the quarter;
- all Group businesses in Asia and Latin America, which confirmed their return to growth, delivering a 22% rise in sales over the three months to March 31.
Businesses related to household consumption (Packaging Sector) continued to hold up very well, reporting like-for-like sales almost identical to the previous yea
 
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