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5
2016 RESULTS AND OUTLOOK FOR 2017
1. Financial Results
105
SAINT-GOBAIN
- REGISTRATION DOCUMENT 2016
number of shares outstanding to 553.4 million shares at
11 million shares for €418 million, resulting in a decrease in the
2016 the Group bought back and later canceled around
Share buyback and dividend:
in line with its objectives, in
end-December 2015).
end-December 2016 (compared to 558.6 million shares at
price at December 30, 2016 (€44.255). The ex-dividend date
June 14, 2017.
has been set at June 12 and the dividend will be paid on
context of our strong 2016 results and confidence looking
demonstrating our focus on shareholder returns in the
and a dividend yield of 2.85% based on the closing share
ahead. This dividend represents
50% of recurring net income
Saint-Gobain’s Board of Directors decided to recommend to
At its meeting of February 23, 2017, Compagnie de
increased dividend of €1.26 per share
(versus €1.24 in 2015),
the June 8, 2017 Shareholders’ Meeting to pay in cash
an
2017 OUTLOOK
1.3
industry. Our operations in Asia and emerging countries
impacts of 2016, but will continue to face uncertainty in
should enjoy robust growth.
Europe should deliver organic growth, despite less visibility in
in France, despite a still uncertain renovation market. Western
construction markets, excluding the exceptional weather
the UK. North America should continue to advance in
In 2017 the Group should benefit from a gradual improvement
pursue:
cash management and financial strength. In particular, it will
Saint-Gobain will continue its disciplined approach towards
its focus on sales prices
amid an uptick in inflation;
its cost savings program
, with the aim of unlocking
the 2016 cost base);
additional savings of
around €270 million
(calculated on
2017), with a focus on growth capex outside Western
its capital expenditure
program (around €1,600 million in
Europe and also on productivity and digital transformation;
differentiated, high value-added strategy;
its commitment to invest in R&D
to support its
its focus on high levels of free cash flow generation
.
The Group is targeting a further like-for-like increase in operating income in 2017
.
The prospective information contained in this registration document can only be applied on the date of its publication.
Section 1 of this registration document. Consequently, every precaution must be taken in using these forward-looking statements.
information, future event or for any other reason.
Saint-Gobain makes no commitment to supplement, update or amend these forward-looking statements as a result of any new
document, investors are warned that they are not guarantees of future performance. Actual results may differ quite significantly
Saint-Gobain believes these forward-looking statements are based on reasonable assumptions as of the date of publication of this
which are difficult to anticipate and are generally outside Saint-Gobain’s control, specifically the risks described in Chapter 7,
from forward-looking statements due to a number of risks, both known and unknown, uncertainties and other factors, most of
These statements on outlook constitute either trends or objectives, and are not to be considered as projected results. Although