Saint-Gobain Reports Sharp Upswing in 2010 Results
February 25, 2011
In announcing the publication of sales for the fourth quarter of 2010 and results for the year ended December 31, 2010, Saint-Gobain reported an 8.4-percent rise in like-for-like flat glass sales over the year. The company says this was spurred by vigorous growth in Asia and emerging countries, as well as the strong rebound in worldwide automotive output.
The company reports that sales of flat glass for the building industry in Western Europe picked up gradually from the second quarter in Germany, France and Italy, but remained slack in other countries. Sales prices for the flat glass sector as a whole returned to an upward trend in the second half, thanks largely to the increase in commodity prices (float glass) in Europe, the company reports.
According to the statement, all of these factors, together with the cost savings achieved, pushed the operating margin up to 8.4 percent of sales (9.0 percent in the second half and 7.8 percent in the first), which is more than double the figure for 2009 (3.4 percent of sales).
Read the company’s full statement here.