Auto glass supplier Saint-Gobain booked growth of 2.6% (6.8% on like-for-like basis) in sales to EUR9.87bn (US$13.63bn) in the first quarter of 2014.
It said there was “ongoing gradual improvement in our western European markets except in France; continued vigorous momentum in Asia and emerging countries. Markets in North America are robust but were affected by the harsh winter weather.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Chairman and CEO Pierre-André de Chalendar said: “Good first-quarter trading reflects favourable trends in our markets as well as the positive weather impact in Europe. In view of this and thanks to the roll-out of our action plan priorities, we can confirm our objective of a clear like-for-like improvement in operating income.”
The supplier expects the upward trend first seen in the second half of 2013 to continue throughout 2014 with gradual improvement in western Europe, after a first quarter boosted by very favourable weather conditions, and led the UK and Germany.
The group expects to increase prices amid low raw material and energy cost inflation rises and achieve cost cutting for additional savings of EUR450m.
Operating income should be higher this year as a result.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
