Saint-Gobain : Another record margin and hopes remain high
>H1 operating profit 4% above consensus and another record margin near 12% - H1 operating profit came to € 2.75bn vs the cons. of € 2.65bn (4%) and ODDO BHF € 2.62bn (5%). Operating profit was driven by good momentum in the Asia-Pacific and the Americas. Results fell sharply in Southern Europe and Northern Europe. The price-cost differential remained positive at the group level. All divisions beat our forecasts, especially the Americas and Asia (see table page 2). The...Compagnie de Saint-Gobain manufactures, produces, and distributes industrial materials. Co.'s activities are divided into four sectors: Innovative Materials (Co. makes, processes and sells glass and glazing products for the building, the automotive and solar energy industries; Co. also manufactures Ceramics and Plastics, Abrasives, and Textiles), Construction Products (Co. offers products for the Insulation, Gypsum, Exterior Products, Pipe and Industrial Mortars), Building Distribution (Co. distributes building materials (plumbing, heating and sanitaryware products) and ceramic tiles), and Packaging - Verallia (Co. manufactures glass containers and jars for foodstuffs and beverages).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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