Sales in 2017 First Quarter Increase by Nearly 8% for Saint-Gobain
Saint-Gobain’s Flat Glass segment continued to show upbeat growth, aided partly by the positive calendar impact and by emerging countries in the construction and automotive segments.
Saint-Gobain recently reported 2017 first quarter sales of €9.9 billion (approximately $10.9 billion), with organic growth of 7.6%. On a like-for-like basis, sales rose 7.6%, driven by a clear improvement in volumes (up 6%) in all business sectors and regions, and supported by a favorable calendar impact of around 3%. Prices continued their rise from the second half of last year, up 1.6% over the quarter in a more inflationary cost environment. All of the company’s regions were able to report a positive price impact, including France and North America.
The Flat Glass segment continued to show upbeat growth, with sales up 9.4%, aided partly by the positive calendar impact and by emerging countries in the construction and automotive segments. Brazil declined slightly in construction, but was up noticeably in the automotive segment against a more favorable comparison basis. Construction activity improved in Europe mainly due to volumes, with the price effect also positive; automotive glass sales remained at a good level.
Sales for High-Performance Materials (HPM) rose 3%, driven solely by volumes. All businesses improved except Ceramics, which was impacted by the strong performance from refractories in the comparative period of 2016.
“The first quarter saw robust trading,” said Pierre-André de Chalendar, chairman and CEO.. “The good momentum in sales volumes observed in 2016 continued at the start of the year in all business sectors and regions. France benefited from the recovery in new-build activity, while other Western European countries delivered further growth. North America and emerging markets had a good start to the year. The group continued to pursue its priorities, focusing particularly on sales prices amid a more inflationary backdrop. We confirm our target of a further like-for-like increase in operating
income for the full year 2017.”
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