Saint-Gobain: Q3 sales down 2%
(CercleFinance.com) - Saint-Gobain has reported Q3 sales of E11.
57bn, down 2% LFL and y-o-y.
The company is still affected by the downturn in new construction in Europe, and particularly in France.
In detail, LFL sales were down 3.2% in Northern Europe, 5.2% in Southern Europe, Middle East & Africa, +0.8% in the Americas and -0.9% in Asia-Pacific.
The group reports a 1.5% contraction in volumes in Q3 and -3.1% over 9m to end-September, in line with the group's FY outlook, reflecting a contrasting situation between the downturn in Europe - with a marked decline in new construction and resilience in renovation - and the good performance of all other segments, it says.
Saint-Gobain points out that the integration of recent acquisitions is going well, enabling the deployment of expected synergies.
Despite an environment it deems difficult in certain markets, Saint-Gobain is targeting a further increase in its operating margin in 2024.
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