Saint-Gobain's sales up, net income down in 2012

Saint-Gobain posted sales up 2.6% to €43.20 billion in 2012. On a like-for-like basis, the 2.3% organic growth in North America was offset by the 2.5% drop in sales in France and by the 4.3% drop in Western Europe, while sales in Asia and in emerging countries fell 0.1% compared to 2011. By business sector, innovative materials saw a 4.4% drop in sales on a like-for-like basis. Construction products fell 1.7%, and building distribution saw a 2% drop in like-for-like sales. In 2012 the French group's net inc
February 21, 2013 Read time: 1 min

6013 Saint-Gobain posted sales up 2.6% to €43.20 billion in 2012.

On a like-for-like basis, the 2.3% organic growth in North America was offset by the 2.5% drop in sales in France and by the 4.3% drop in Western Europe, while sales in Asia and in emerging countries fell 0.1% compared to 2011.

By business sector, innovative materials saw a 4.4% drop in sales on a like-for-like basis. Construction products fell 1.7%, and building distribution saw a 2% drop in like-for-like sales.

In 2012 the French group's net income fell 40.3% to €766 million as 2012 saw a further general slowdown in economies across Europe, according to chairman and CEO Pierre-André de Chalendar.

Operating income, which fell 16.3% to €2.88 billion in 2012, is expected to recover in the second half of 2013.

After saving €520 million through cost-cutting measures in 2012, the group is now targeting €1.10 billion through its cost-cutting programme for 2013 instead of the €750 million initially forecast.

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