Saint-Gobain : The art of refocusing for a stronger recovery
>Feedback on the changes of the past four years - Our comments on the preliminary results are available in the equity flash published on 25 February (“Do not lose sight of fundamentals…”). We note management’s optimism and especially the CEO’s strategic update. The group has invested 70% of its capex in emerging markets and North America over the past four years. The group has built 78 new factories worldwide (of which just 13 in Europe). This, combined with portfolio...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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