Saint-Gobain: 2% drop in quarterly sales

(CercleFinance.com) - Saint-Gobain reported sales of 11.
57 billion euros for the 3rd quarter, down 2% on a like-for-like basis compared with the same period a year earlier.
The company continues to be affected by the downturn in new construction in Europe, particularly in France.

In detail, like-for-like sales were down by 3.2% in Northern Europe, by 5.2% in Southern Europe, Middle East & Africa, by 0.8% in the Americas and by 0.9% in Asia-Pacific.

The Group reports a contraction in volumes of 1.5% in the third quarter and -3.1% for the 9 months to end-September, in line with the Group's full-year outlook, 'reflecting a contrasting situation between the downturn in Europe - with a marked decline in new construction and resilience in renovation - and the resilience of all other segments', the company stresses.

Saint-Gobain points out that the integration of recent acquisitions is proceeding well, enabling the deployment of expected synergies.

Despite an environment that it deems 'difficult in certain markets', Saint-Gobain is targeting a further increase in operating margin in 2024.

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