Saint-Gobain reports organic growth at 3.5% in H1 2019

2019-08-02

Aug. 1, 2019 - First-half consolidated sales were €21,677 million, a year-on-year increase of 4.3% on a reported basis and of 3.5% like-for-like. Organic growth was driven both by prices (up 2.3%) in a slightly less inflationary environment, and by volumes (up 1.2%). 

The Group structure impact added a slight 0.2% to overall growth. Sales growth also benefited from a 0.6% positive currency impact. The Group’s operating income was€1,638 million, up by 8.3% like-for-like. Its operating margin moved up 30 basis points to 7.6%.

Pierre-André de Chalendar, Chairman and Chief Executive Officer of Saint-Gobain, commented: “The Group's first-half results progressed significantly, driven by continued upbeat trends on our main markets, a positive price-cost spread, and excellent advances in our transformation plan, which is delivering expected results faster than initially planned. The acceleration of our portfolio rotation program announced a year ago continues apace and we will exceed €3.0 billion in sales divested by the end of 2019. The Group is confirming its objectives for full-year 2019 and for the second half, in a less supportive market overall, expects a like-for-like increase in operating income versus second-half 2018.”