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| Saint-Gobain reports first half 2011 results Organic growth for France-based construction materials maker Saint-Gobain came in at 4.4%, with contributions from all of the Group's business sectors and main geographic regions. This performance continued to be powered by vigorous momentum in emerging countries and brisk trading in industrial markets, and confirms the gradual improvement in businesses linked to the residential construction sector in Europe. High value-added solutions and especially businesses related to energy efficiency in the Habitat market (Insulation, Reinforced Thermal Insulation Glass, Industrial Mortars, etc.) continued to spearhead the Group's organic growth on residential construction markets in Europe, buoyed by new energy performance standards and particularly Thermal Regulation "RT 2012" in France. The growth push in these sectors continues to be driven by the Group's largest national markets (France, Germany and Scandinavia), with the exception of the UK where sales volumes slowed during the second quarter. Highlights of first-half 2011: • Organic growth: up 6.7% over the first half. • Sales prices: up 2.4% over the first half (up 2.0% in the first quarter; up 2.8% in the second quarter). • Double-digit growth in operating income (at constant exchange rates): up 18.6%. • Free cash flow: up 7.0% to €1.1bn, against a target of €1.3bn for the full year. • Continued strong balance sheet: net debt/EBITDA ratio cut to 1.8 from 2.1 at end-June 2010. • Relaunch of capital spending (up 48.4% to €641m) and acquisitions (up from €36m to €182m). write your comments about the article :: © 2011 Construction News :: home page |