- Sales up 1.1% on a comparable basis - Operating income advances 0.2% on a comparable basis - Operating margin holds firm at 8.5% - Strong free cash flow, at EUR 1,257 million (excluding taxes on capital gains).
- NET INCOME (excluding capital gains) remains stable at EUR 1,051 million.
- NET DEBT FALLS 10% to EUR 7 billion.
- DIVIDEND RECOMMENDED FOR APPROVAL BY THE AGM: euro 1.13 per share, up 0.4%
At its meeting of Thursday, March 20, 2003, the Board of Directors of Saint-Gobain reviewed the Group's consolidated financial statements for 2002.
Note: Within the Housing Products Sector, the Pipe Division's distribution operations have been transferred, as from January 1, 2002, to the Building Materials Distribution Division, in order to set up a European organization for sales of materials in engineering markets.
This transfer does not affect overall consolidated Group income as presented below, but it does impact sales and operating income data by division presented in the Appendix.