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FIRST-QUARTER 2001 SALES: UP 4.4% ON A COMPARABLE STRUCTURE BASIS |
Net consolidated sales of the Saint-Gobain Group for first-quarter 2001 were up 15.8% year-on-year (25.5% excluding Essilor), to EUR 7,268 million from EUR 6,275 million in first-quarter 2000.
Based on a comparable Group structure, sales rose 4.4% in euros and 3.2% in local currencies.
This level of sales, compared to a particularly strong first-quarter 2000, reflects the Saint-Gobain Group's ability to continue to grow despite a markedly more difficult economic environment, especially in the United States. The added weight of the high-growth businesses of Building Materials Distribution, Ceramics & Plastics and Abrasives as well as Reinforcements, which are relatively less sensitive to fluctuations in overall economic trends, explains this resilience. In first-quarter 2001, the sales of these businesses, which account for 51% of the Group’s total sales, expanded by 5.2% on a like-for-like basis, well above the Group average of 3.2%. Among the Group's historic businesses, Flat Glass remained very buoyant, posting the Group's fastest growth with an 8.5% gain year-on-year based on comparable structure and exchange rates.
The breakdown of sales by business sector, division and major geographical area is as follows:
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Sales, 3 months to March 31, 2001 (in EUR millions)
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Sales, 3 months to March 31, 2000 (in EUR millions)
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Change based on actual structure |
Change based on comparable structure in euros
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Change based on comparable structure and exchange rates (like-for-like) |
BUSINESS SECTORS AND DIVISIONS
GLASS (1)
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2,870 |
2,669 |
7.5% |
5.5% |
4.3% |
| Flat Glass |
1,107 |
1,010 |
9.6% |
7.8% |
8.5% |
| Insulation & Reinforcements |
815 |
761 |
7.1% |
2.6% |
1.0% |
| Containers |
951 |
900 |
5.7% |
5.3% |
2.6% |
| HIGH-PERFORMANCE MATERIALS (1) |
1,069 |
1,458 |
-26.7% |
5.0% |
2.3% |
| Ceramics & Plastics and Abrasives |
1,069 |
974 |
9.8% |
5.0% |
2.3% |
| Essilor |
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485 |
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| HOUSING PRODUCTS (1) |
3,389 |
2,192 |
54.6% |
2.7% |
1.9% |
| Building Materials |
715 |
722 |
-1.0% |
-2.0% |
-4.9% |
| Building Materials Distribution |
2,283 |
1,086 |
110.2% |
8.0% |
7.9% |
| Pipe |
442 |
430 |
2.8% |
-2.3% |
-1.3% |
| INTERNAL SALES |
(60) |
(44) |
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| GROUP |
7,268 |
6,275 |
15.8% |
4.4% |
3.2% |
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GEOGRAPHICAL AREAS
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| France |
2,271 |
2,070 |
9.8% |
7.7% |
7.7% |
| Other European Countries |
3,016 |
1,948 |
54.9% |
2.9% |
3,3% |
| North America |
1,708 |
1,578 |
8.2% |
1.4% |
-5.2% |
| Rest of the world |
566 |
454 |
24.5% |
10.5% |
15.3% |
| Essilor* |
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484 |
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| INTERNAL SALES |
(293) |
(259) |
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| GROUP |
6,275 |
7,268 |
15.8 % |
4,4% |
3.2% |
(1) including inter-division eliminations
* accounted for by the equity method from July 1 to November 15, 2000, at which date the Group disposed of its entire stake in the company.
In all Divisions except Containers and Ceramics & Plastics, sales volumes in the United States contracted in relation to first-quarter 2000, which had seen a very strong 7.1% expansion. In Europe, however, sales volumes, and especially prices, held firm, despite the negative impact on the building industry of the very rainy winter experienced by several countries.
The Glass Sector kept up its growth, in line with its performance in 2000, thanks to sustained demand and satisfactory selling prices for most of its businesses in Europe and Brazil. In the United States, however, Insulation sales, which had peaked in first-quarter 2000, continued to suffer from the downturn in the building industry that began in the summer of 2000.
Based on comparable data, the High-Performance Materials Sector performed slightly below the Group average. Ceramics & Plastics achieved dynamic growth, but the Abrasives Division was affected by the slowdown in North America's manufacturing output, particularly in the automobile industry.
The Housing Products Sector recorded mixed results: Building Materials Distribution continued to develop through both organic and external growth; the Pipe Division stabilized its performance; Building Materials sales, however, fell compared to first-quarter 2000 due the slowdown in the U.S. building industry. Nevertheless, this business did not decline compared to fourth-quarter 2000.
Outlook: the Saint-Gobain Group maintains as the target for 2001 a 10% increase in net income before profit on sales of non-current assets, provided there is no new and significant deterioration in the economic environment.
26/ 04 /2001
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