 |
2005 RESULTS : DETAILED FIGURES |
|
|
APPENDIX 1
Results by Business Sector and Geographic Area
(in EUR millions)
I. SALES
|
2004
(in EUR m) |
2005
(in EUR m) |
Change on an actual structure basis |
Change on a comparable structure basis |
Change on a comparable structure and currency basis |
| by Sector and Division: |
|
| Building Distribution |
13,653 |
15,451 |
+13.2% |
+3.0% |
+2.7% |
| High-Performance Materials (1) |
4,732 |
4,880 |
+3.1% |
+2.9% |
+1.4% |
| Ceramics and Plastics & Abrasives |
3,482 |
3,591 |
+3.1% |
+3.9% |
+2.6% |
| Reinforcements |
1,271 |
1,306 |
+2.8% |
-0.2% |
-2.2% |
| Flat Glass |
4,429 |
4,680 |
+5.7% |
+2.8% |
+0.4% |
| Packaging |
3,880 |
4,008 |
+3.3% |
+2.6% |
+1.9% |
| Construction Products (1) |
6,019 |
6,694 |
+11.2% |
+6.8% |
+6.0% |
| Building Materials |
2,620 |
2,733 |
+4.3% |
+6.4% |
+5.2% |
| Insulation |
2,030 |
2,244 |
+10.5% |
+7.6% |
+7.1% |
| Gypsum |
|
263 |
ns |
|
| Pipe |
1,388 |
1,474 |
+6.2% |
+6.5% |
+5.6% |
| |
| Internal sales and misc. |
-541 |
-603 |
n.s. |
n.s. |
n.s. |
| Group Total |
32,172 |
35,110 |
+9.1% |
+3.6% |
+2.7% |
| excluding Gypsum : |
|
| Construction Products (1) |
6,019 |
6,431 |
+6.8% |
+6.8% |
+6.0% |
| Group Total |
32,172 |
34,873 |
+8.4% |
+3.6% |
+2.7% |
| |
| by geographic area: |
|
| France |
10,772 |
11,438 |
+6.2% |
+4.7% |
+4.7% |
| Other Western European Countries (2) |
13,801 |
15,193 |
+10.1% |
-0.2% |
+0.0% |
| North America |
5,739 |
5,956 |
+3.8% |
+4.1% |
+4.0% |
| Emerging countries and Asia |
3,577 |
4,443 |
+24.2% |
+16.2% |
+6.8% |
| Internal sales |
-1 717 |
-1 920 |
n.s. |
n.s. |
n.s. |
| Group Total |
32,172 |
35,110 |
+9.1% |
+3.6% |
+2.7% |
| Excluding Gypsum : |
|
| Other Western European Countries |
13,801 |
14,939 |
+8.2% |
-0.2% |
+0.0% |
| Group Total |
32,172 |
34,873 |
+8.4% |
+3.6% |
+2.7% |
(1) including intra-sector eliminations
(2) BPB is included in Other Western European Countries
II. OPERATING INCOME
|
2004
(in EUR m) |
2005
(in EUR m) |
Change on an actual structure basis |
2004 (in % of sales) |
2005E (in % of sales) |
| by Sector and Division: |
|
| Building Distribution |
762 |
888 |
+16.5% |
5.6% |
5.7% |
| High-Performance Materials |
503 |
511 |
+1.6% |
10.6% |
10.5% |
| Ceramics and Plastics & Abrasives |
419 |
462 |
+10.3% |
12.0% |
12.9% |
| Reinforcements |
84 |
49 |
-41.7% |
6.6% |
3.8% |
| Flat Glass |
461 |
453 |
-1.7% |
10.4% |
9.7% |
| Packaging |
459 |
385 |
-16.1% |
11.8% |
9.6% |
| Construction Products |
542 |
614 |
+13.3% |
9.0% |
9.2% |
| Building Materials |
202 |
223 |
+10.4% |
7.7% |
8.2% |
| Insulation |
257 |
292 |
+13.6% |
12.7% |
13.0% |
| Gypsum |
|
-8 |
|
ns |
| Pipe |
83 |
107 |
+28.9% |
6.0% |
7.3% |
| Miscellaneous |
16 |
9 |
n.s. |
|
| Group Total |
2,743 |
2,860 |
+4.3% |
8.5% |
8.1% |
| excluding Gypsum : |
|
| Construction Products |
542 |
622 |
+14.8% |
9.0% |
9.7% |
| Group Total |
2,743 |
2,868 |
+4.6% |
8.5% |
8.2% |
| |
| by geographic area: |
|
| France |
831 |
889 |
+7.0% |
7.7% |
7.8% |
| Other Western European Countries |
961 |
1,090 |
+13.4% |
7.0% |
7.2% |
| North America |
522 |
487 |
-6.7% |
9.1% |
8.2% |
| Emerging countries and Asia |
429 |
394 |
-8.2% |
12.0% |
8.9% |
| Group Total |
2,743 |
2,860 |
+4.3% |
8.5% |
8.1% |
| Excluding Gypsum : |
|
| Other Western European Countries |
961 |
1,098 |
+14.3% |
7.0% |
7.3% |
| Group Total |
2,743 |
2,868 |
+4.6% |
8.5% |
8.2% |
III. BUSINESS INCOME
|
2004
(in EUR m) |
2005
(in EUR m) |
Change on an actual structure basis |
2004 (in % of sales) |
2005E (in % of sales) |
| by Sector and Division: |
|
| Building Distribution |
759 |
874 |
+15.2% |
5.6% |
5.7% |
| High-Performance Materials |
409 |
411 |
+0.5% |
8.6% |
8.4% |
| Ceramics and Plastics & Abrasives |
347 |
378 |
+8.9% |
10.0% |
10.5% |
| Reinforcements |
62 |
33 |
-46.8% |
4.9% |
2.5% |
| Flat Glass |
411 |
443 |
+7.8% |
9.3% |
9.5% |
| Packaging |
422 |
375 |
-11.1% |
10.9% |
9.4% |
| Construction Products |
468 |
559 |
+19.4% |
7.8% |
8.4% |
| Building Materials |
187 |
247 |
+32.1% |
7.1% |
9.0% |
| Insulation |
238 |
278 |
+16.8% |
11.7% |
12.4% |
| Gypsum |
|
-57 |
|
ns |
| Pipe |
43 |
91 |
+111.6% |
3.1% |
6.2% |
| Miscellaneous* |
-51 |
-108 |
n.s. |
|
| Group Total |
2,418 |
2,554 |
+5.6% |
7.5% |
7.3% |
| excluding Gypsum : |
|
| Construction Products |
468 |
616 |
+31.6% |
7.8% |
9.6% |
| Group Total |
2,418 |
2,611 |
+8.0% |
7.5% |
7.5% |
| |
| by geographic area: |
|
| France |
838 |
856 |
+2.1% |
7.8% |
7.5% |
| Other Western European Countries |
839 |
1 012 |
+20.6% |
6.1% |
6.7% |
| North America |
329 |
302 |
-8.2% |
5.7% |
5.1% |
| Emerging countries and Asia |
412 |
384 |
-6.8% |
11.5% |
8.6% |
| Group Total |
2,418 |
2,554 |
+5.6% |
7.5% |
7.3% |
| Excluding Gypsum : |
|
| Other Western European Countries |
839 |
1 069 |
+27.4% |
6.1% |
7.2% |
| Group Total |
2,418 |
2,611 |
+8.0% |
7.5% |
7.5% |
* after asbestos-related charge (before tax) of EUR100m in 2005E and EUR108m in 2004.
IV. CASH FLOW
|
2004
(in EUR m) |
2005
(in EUR m) |
Change on an actual structure basis |
2004 (in % of sales) |
2005E (in % of sales) |
| by Sector and Division: |
|
| Building Distribution |
524 |
667 |
+27.3% |
3.8% |
4.3% |
| High-Performance Materials |
488 |
446 |
-8.6% |
10.3% |
9.1% |
| Ceramics and Plastics & Abrasives |
354 |
342 |
-3.4% |
10.2% |
9.5% |
| Reinforcements |
134 |
104 |
-22.4% |
10.5% |
8.0% |
| Flat Glass |
511 |
528 |
+3.3% |
11.5% |
11.3% |
| Packaging |
492 |
432 |
-12.2% |
12.7% |
10.8% |
| Construction Products |
540 |
559 |
+3.5% |
9.0% |
8.4% |
| Building Materials |
203 |
212 |
+4.4% |
7.7% |
7.8% |
| Insulation |
266 |
287 |
+7.9% |
13.1% |
12.8% |
| Gypsum |
|
-31 |
|
ns |
| Pipe |
71 |
91 |
+28.2% |
5.1% |
6.2% |
| Miscellaneous* |
84 |
103 |
n.s. |
|
| Group Total |
2,639 |
2,735 |
+3.6% |
8.2% |
7.8% |
| excluding Gypsum : |
|
| Construction Products |
540 |
585 |
+8.3% |
9.0% |
9.1% |
| Group Total |
2,639 |
2,767 |
+4.9% |
8.2% |
7.9% |
| |
| by geographic area: |
|
| France |
841 |
903 |
+7.4% |
7.8% |
7.9% |
| Other Western European Countries |
893 |
969 |
+8.5% |
6.5% |
6.4% |
| North America |
446 |
410 |
-8.1% |
7.8% |
6.9% |
| Emerging countries and Asia |
459 |
453 |
-1.3% |
12.8% |
10.2% |
| Group Total |
2,639 |
2,735 |
+3.6% |
8.2% |
7.8% |
| Excluding Gypsum : |
|
| Other Western European Countries |
893 |
1,001 |
+12.1% |
6.5% |
6.7% |
| Group Total |
2,639 |
2,767 |
+4.9% |
8.2% |
7.9% |
* after asbestos-related charge (after tax) of EUR68m in 2005E and EUR72m in 2004.
V. CAPITAL EXPENDITURE
|
2004
(in EUR m) |
2005
(in EUR m) |
Change on an actual structure basis |
2004 (in % of sales) |
2005E (in % of sales) |
| by Sector and Division: |
|
| Building Distribution |
249 |
327 |
+31.3% |
1.8% |
2.1% |
| High-Performance Materials |
240 |
271 |
+12.9% |
5.1% |
5.6% |
| Ceramics and Plastics & Abrasives |
132 |
187 |
+41.7% |
3.8% |
5.2% |
| Reinforcements |
108 |
84 |
-22.2% |
8.5% |
6.4% |
| Flat Glass |
448 |
485 |
+8.3% |
10.1% |
10.4% |
| Packaging |
302 |
305 |
+1.0% |
7.8% |
7.6% |
| Construction Products |
296 |
355 |
+19.6% |
4.9% |
5.3% |
| Building Materials |
101 |
102 |
+1.0% |
3.9% |
3.7% |
| Insulation |
144 |
145 |
+0.7% |
7.1% |
6.5% |
| Gypsum |
|
52 |
|
19.8% |
| Pipe |
51 |
56 |
+9.8% |
3.7% |
3.8% |
| Miscellaneous |
5 |
13 |
n.s. |
|
| Group Total |
1,540 |
1,756 |
+14.0% |
4.8% |
5.0% |
| excluding Gypsum : |
|
| Construction Products |
296 |
303 |
+2.0% |
4.9% |
4.7% |
| Group Total |
1,540 |
1,705 |
+10.7% |
4.8% |
4.9% |
| |
| by geographic area: |
|
| France |
363 |
391 |
+7.7% |
3.4% |
3.4% |
| Other Western European Countries |
483 |
574 |
+18.8% |
3.5% |
3.8% |
| North America |
273 |
256 |
-6.2% |
4.8% |
4.3% |
| Emerging countries and Asia |
421 |
535 |
+27.1% |
11.8% |
12.0% |
| Group Total |
1,540 |
1,756 |
+14.0% |
4.8% |
5.0% |
| Excluding Gypsum : |
|
| Other Western European Countries |
483 |
523 |
+8.3% |
3.5% |
3.5% |
| Group Total |
1,540 |
1,705 |
+10.7% |
4.8% |
4.9% |
APPENDIX 2
Balance sheet at 12/31/05 (with BPB)
(in EUR millions)
| |
December 31, 2005 |
December 31, 2004 |
Impact of BPB acquisition |
|
| |
| Goodwill |
10,541 |
5,203 |
4,882 |
(2) |
| Other intangible assets, net |
2,346 |
1,804 |
15 |
| Property, plant and equipment |
12,508 |
9,367 |
1,864 |
| Investments in associates |
137 |
64 |
49 |
| Available for sale and other securities |
161 |
92 |
1 |
| Deferred Tax assets |
352 |
|
0 |
| Other non-current assets |
282 |
321 |
17 |
| |
Non-current assets |
26,327 |
16,851 |
6,828 |
| |
| Inventories |
5,543 |
4,817 |
237 |
| Trade accounts receivable |
5,848 |
4,789 |
471 |
| Current tax receivable |
68 |
155 |
7 |
| Other accounts receivable |
932 |
915 |
63 |
| Cash and cash equivalents |
2,080 |
2,898 |
239 |
| |
Current assets |
14,471 |
13,574 |
1,017 |
| |
| Total assets |
40,798 |
30,425 |
7,845 |
| |
| Shareholders' equity |
12,265 |
10,673 |
(55) |
(3) |
| Minority interests |
328 |
237 |
15 |
| |
Shareholders' equity and minority interests |
12,593 |
10,910 |
(40) |
| Non-voting participating securities |
|
|
|
| Pensions and other post-retirement benefits |
3,029 |
2,750 |
358 |
| Deferred tax liability |
819 |
238 |
61 |
| Non-current provisions for contingencies and expenses |
704 |
548 |
82 |
| Long-term debt |
11,315 |
5,629 |
6,304 |
| Long-term payables on investments |
130 |
0 |
0 |
| |
Non-current liabilities |
15,997 |
9,165 |
6,805 |
| |
| Current provisions for contingencies and expenses |
411 |
353 |
36 |
| Short-term payables on investments |
922 |
1,338 |
94 |
| Short-term payables on investments |
263 |
0 |
243 |
| Trade accounts payable |
4,785 |
3,954 |
174 |
| Current tax payable |
275 |
249 |
108 |
| Other payables and accrued expenses |
2,859 |
2,307 |
305 |
| Short-term debt |
2,693 |
2,149 |
120 |
| |
Current liabilities |
12,208 |
10,350 |
1,080 |
| |
| Total liabilities and shareholder's equity |
40,798 |
30,425 |
7,845 |
|
| |
| |
| Net Debt |
12,850 |
6,218 |
6,279 |
(1) |
Main impacts related to the acquisition of BPB
(1) of which net debt related to BPB: EUR 6,279 million, including EUR 5,609 million
related to the acquisition of shares and EUR 670 million related to net debt reported
in the books of BPB
(2) All BPB inventories revalued at fair value at November 30 had been sold
at December 31, 2005
(3) Amounts payable on investments relate to the cost of shares not cashed out
at December 31 2005
APPENDIX 3
BPB consolidated income statement (before and after data restatements by Saint-Gobain)
(in € millions)
| |
December 2005 |
| BPB before restatements |
BPB after restatements |
Main restatements |
| Sales and ancillary revenue |
263 |
237 |
Elimination of internal sales between BPB and Saint-Gobain Group companies: EUR (26)m |
| Operating income |
24 |
(8) |
Impact of revaluation of inventories at fair value in the opening balance sheet and cancellation of margins generated in December: EUR (32)m |
| Dividends from non-consolidated companies |
|
| Non-operating costs |
0 |
(36) |
Restructuring costs (implementation of synergies), of which EUR (13) million relating to the termination of BPB's Savings Plan |
| Profit (loss) on disposals and asset write-downs |
0 |
(13) |
Write-down of BPB's ERP |
| Goodwill amortization |
|
| Business income |
24 |
(57) |
|
| Net financial income (expense) |
(2) |
(18) |
Finance costs relating to the acquisition (December 15 to 31): EUR (11) million; Exceptional items: EUR (5) million |
| Income taxes |
(6) |
20 |
Taxes related to the foregoing adjustments |
| Share in net income of equity investees |
1 |
1 |
|
| Net income before minority interests |
17 |
(54) |
| Minority interests |
|
| Net income |
17 |
(54) |
|
| Net income excluding capital gains (losses) |
17 |
(45) |
 Back
March 23, 2006
|
