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Saint-Gobain 1st Quarter revenue EUR 7.296 billion versus EUR 7.268 billion
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Saint-Gobain SA said that its revenues rose 0.4% to EUR 7.296 billion in the first quarter, from EUR 7.268 billion a year earlier, as shrinking sales volumes offset a 1% rise in prices.
On a comparable basis, excluding exchange-rate fluctuations, revenues fell 1.0%, the French building materials supplier said.
Revenue was well below analyst estimates of a 1.2% rise to EUR 7.36 billion.
Saint-Gobain blamed the fall on a sharp drop in revenues from its high- performance materials unit which primarily sells into the electronics industry, down 14.4% to EUR955 million like-for-like and unusually high revenue across the board in the prior year.
But on a comparable basis, revenue from all of its businesses also slid, with the exception of its housing products unit, for which revenue advanced a lukewarm 0.8% on stable U.S. construction-related sales, Saint-Gobain said.
Revenue from its glass arm fell 0.5% to EUR2.92 billion, partially due to pricing pressure, Saint-Gobain said.
Like-for-like revenue from its housing products and glass units were stable, Saint-Gobain said.
Geographically, revenue fell a sharp 4.7% in Europe (outside France ) and 1.6% in North America.
The company gave little insight into 2002, keeping a broad target of 2002 revenue growth of flat to 4%, pending a rebound in U.S. industrial activity in the second half.
In other news, the company said it has merged its pipe business with its building materials distribution unit.
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April 29th, 2002
Source: Yahoo |
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