SAINT-GOBAIN POSTS A RECORD OPERATING RESULT, CONVINCED OF BEING ABLE TO OFFSET INFLATION
(Reuters) – French building materials group Saint-Gobain reported record first-half operating profit on Wednesday and confirmed its guidance for the year, despite the pandemic, supply chain disruptions and the ‘inflation.
Its operating profit reached a new record during the semester, amounting to 2.80 billion euros, up 13% compared to last year at constant exchange rates.
“Over the next few quarters, we are ready to adapt with agility to the consequences of rising interest rates, inflation, and the geopolitical and energy situation in Europe,” the CEO said in a statement. , Benoit Bazin.
Saint-Gobain now forecasts an increase in its energy and raw materials costs of almost 3 billion euros in 2022 compared to 2021, against a previous estimate of 2.5 billion.
Although the rise in raw material prices has caused an increase in costs for the construction sector, Saint-Gobain has once again confirmed its ability to offset inflation through price increases.
The company, which designs, manufactures and distributes materials for the building and industrial market, confirmed in June its outlook for a “further rise” in operating profit this year, after hitting a record high in 2021. .
The half-year turnover amounted to 25.5 billion euros, above the 25.2 billion euros estimated by analysts in a consensus provided by the company.
(Report Alizée Degorce and Olivier Sorgho, French version Augustin Turpin, edited by Matthieu Protard)