Operating income
Group
In line with targets, the 2010 Group's operating income rose sharply, up 40.7% (33.7% at constant exchange rates), powered mainly by the cost savings achieved. As a result, the operating margin improved significantly, up to 7.8% of sales (10.7% excluding Building Distribution), versus 5.9% (8.4% excluding Building Distribution) in 2009.
The Group outperformed its target in the second half of 2010 ("operating income for second-half 2010 slightly above the first half"), with a rise of 15.7% in operating income compared to first-half 2010 and of 30.0% compared to second-half 2009.
The Group's second-half operating margin rose steeply, up to 8.1% of sales (10.8% excluding Building Distribution), versus 6.7% of sales (9.1% excluding Building Distribution) in second-half 2009. It also came in higher than in second-half 2008 (7.6%, or 9.8% excluding Building Distribution), even though sales volumes remained 9.4% below the volumes recorded in that period.
By sector and divison
| 2009 in EUR m |
2010 in EUR m |
change on actual structure basis | 2009 (in % of sales) |
2010 (in % of sales) |
|
| Innovative materials | 370 | 1,024 | +176.8% | 4.7% | 11.0% |
| Flat Glass | 155 | 439 | +183.2% | 3.4% | 8.4% |
| High-Performance Materials | 215 | 585 | +172.1% | 6.6% | 14.3% |
| Construction Products | 985 | 1,064 | +8.0% | 9.5% | 9.7% |
| Interior Solutions | 344 | 379 | +10.2% | 6.8% | 7.3% |
| Exterior Solutions | 641 | 685 | +6.9% | 11.8% | 11.8% |
| Building Distribution | 412 | 578 | +40.3% | 2.4% | 3.3% |
| Packaging | 437 | 434 | -0.7% | 12.7% | 12.2% |
| Miscellaneous | 12 | 17 | n.m. | n.m. | n.m. |
| GROUP TOTAL | 2,216 | 3,117 | +40.7% | 5.9% | 7.8% |
By geographic area
| 2009 in EUR m |
2010 in EUR m |
change on actual structure basis | 2008 (in % of sales) |
2009 (in % of sales) |
|
| France | 629 | 714 | +13.5% | 5.5% | 6.3% |
| Other Western European countries | 730 | 1,007 | +37.9% | 4.4% | 5.9% |
| North America | 432 | 590 | +36.6% | 8.9% | 10.7% |
| Emerging countries and Asia | 425 | 806 | +89.6% | 6.7% | 10.1% |
| GROUP TOTAL | 2,216 | 3,117 | +40.7% | 5.9% | 7.8% |
