Saint-Gobain sales decline by 1.4 percent
Saint-Gobain reported that its consolidated sales for the third quarter came in at 10.8 billion euros ($14.9 billion), down 1.4% from the third quarter 2012.
The results reflect a strong negative currency impact (-4.3%), a slightly negative Group structure impact (-0.2%) and organic growth of 3.1%, with volumes up 2.2% and prices gaining 0.9%, the company said.
"The Group's trading performance in the third quarter confirms the recovery that began in the three months to June 30, with ongoing robust organic growth in Asia and emerging countries, confirmation of the upturn in residential construction in the U.S. and gradually more stable trading in Western Europe," said Pierre-André de Chalendar, chairman and chief executive officer.
Construction Products sales rallied sharply (up 5.4%) after having been hit by destocking in the U.S. Exterior Products business in the previous quarter. Innovative Materials and Building Distribution enjoyed an uptick in trading, with sales advancing 2.2% for both business sectors.
Saint-Gobain's sales for the first nine months of 2013 came in at 31.6 billion euros ($43.6 billion), down 3.0% from 32.5 billion euros ($44.9 billion) in the first nine months of 2012.
INDUSTRIAL SUPPLY MAGAZINE
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