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CONSOLIDATED SALES FOR THE NINE MONTHS TO SEPTEMBER 30, 2000: up 27.3%
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Net consolidated sales of the Saint-Gobain Group for the nine months to September 30, 2000 amounted to _ 21,302 million (FRF 139,732 million), up from _ 16,721 million (FRF 109,683 million) for the same period in 1999, representing a year-on-year increase of 27.3% (and 31.1% excluding Essilor, which was accounted for by the equity method as from July 1, 2000). Based on a comparable Group structure and excluding Essilor, sales were up 11.5% in euros and 6.3% in local currencies.
This performance must be considered in relation to the strong sales momentum which the Group experienced in the third quarter of 1999, and it reflects the Group's growth ability, especially as conditions proved less favorable over the third quarter of this year, naimly in the U.S. construction market.
The breakdown of sales by operating sector, division and major geographical area is as follows:
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Sales, 9 months to Sept. 30, 2000 (in E millions) |
Sales, 9 months to Sept. 30, 1999(in E millions) |
Change based on actual structure |
Change based on comparable structure and exchange rates |
| GLASS (1) |
8,405 |
7,522 |
11.8% |
5.0% |
| Flat Glass |
3,076 |
2,716 |
13.3% |
9.1% |
| Insulation & Reinforcements |
2,391 |
2,077 |
15.1% |
5.4% |
| Containers |
2,945 |
2,731 |
7.9% |
0.9% |
| HIGH-PERFORMANCE MATERIALS(1) |
3,991 |
3,305 |
20.8% |
6.8% |
| Ceramics, High-Perf. Plastics and Abrasives |
3,013 |
2,085 |
44.5% |
6.8% |
| Essilor* |
978 |
1,220 |
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| HOUSING (1) |
9,017 |
5,994 |
50.0% |
7.6% |
| Building Materials |
2,353 |
1,968 |
19.6% |
6.0% |
| Building Distribution |
5,475 |
2,995 |
82.8% |
10.4% |
| Pipe |
1,322 |
1,149 |
13.4% |
3.4% |
| INTERNAL SALES (INTER-SECTOR) |
-111 |
-100 |
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| TOTAL GROUP SALES |
21,302 |
16,721 |
27.3% |
6.3% |
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| SALES BY GEOGRAPHICAL AREA |
Sales, 9 months to Sept. 30, 2000 (in E millions) |
Sales, 9 months to Sept. 30, 1999(in E millions) |
Change based on actual structure |
Change based on comparable structure and exchange rates |
| France |
6,369 |
6,625 |
13.2% |
9.3% |
| Other European countries |
8,001 |
5,452 |
46.7% |
5.3% |
| North America |
5,208 |
3,902 |
33.5% |
2.7% |
| Rest of the world |
1,527 |
1,076 |
42.0% |
17.4% |
| Essilor* |
978 |
1,220 |
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| INTERNAL SALES |
-780 |
-554 |
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| TOTAL GROUP SALES |
21,302 |
16,721 |
27.3% |
6.3% |
(1) including inter-division eliminations
* Accounted for by the equity method as from July 1, 2000
The Glass Sector kept up its growth, in line with its first-half performance, thanks to sustained demand in all divisions, both in Europe and in the United States, and to higher selling prices in the Flat Glass and Reinforcements divisions.
The High-Performance Materials and Plastics Sector experienced trends that are in line with the Group's average on a comparable basis, even though the reference point for comparison in the third quarter of 1999 was particularly high. As previously, operations geared toward the semi-conductors market were particularly dynamic.
The Housing Sector continued to post strong sales in spite of the slowdown noted in the third quarter, particularly in the United States, in the Building Materials division. The Pipe division, for its part, is still faced with a difficult market environment. The Building Distribution division further developed, both through organic growth and through acquisitions, in a still-buoyant European market.
Outlook : With satisfactory levels of growth overall and taking into account the favorable impact of the latest acquisitions, the Group confirms its objective for the full year 2000 of 15% growth in earnings per share excluding capital gains, to which will be added the impact of the 5% capital reduction (of which 3.85% has already been carried out by June 30, and the balance before the end of November).
31/10/2000
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