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FINANCIAL AND ACCOUNTING INFORMATION
1. 2016 Consolidated Financial Statements
214
SAINT-GOBAIN
- REGISTRATION DOCUMENT 2016
Transactions carried out in 2015
2.2.2
Sale of the Packaging Sector
a)
Following the announcement made on June 8, 2015,
Management, LLC and BPI France, which currently hold 90%
and 10%, respectively, of the share capital. The sale was made
Saint-Gobain Group sold the Packaging Sector on October 29,
2015 to funds managed by affiliates of Apollo Global
based on an enterprise value of €2,945 million.
disposal gains in respect of the Packaging Sector in 2015.
income of the Packaging Sector until the date of sale and the
Assets Held for Sale and Discontinued Operations”, net
income from discontinued operations included the net
As a result, and in accordance with IFRS 5, “Non-current
Other changes in Group structure
b)
Supply Co Inc, the country’s leading distributor of roofing and
siding products.
In addition to the sale of the Packaging Sector, in 2015
Saint-Gobain Group continued to actively manage its
Norandex distribution business in the United States to ABC
portfolio of businesses, fully in line with the Group’s strategy.
In particular, the Group signed an agreement to sell its
Various acquisitions were completed in order to strengthen
the Group’s profile in high added-value businesses and
growing markets.
The consolidated income statement for the Packaging Sector
was as follows:
(in € millions)
2015
(1)
Net sales
1,998
Cost of sales
(1,605)
General expenses including research
(116)
Share in net income of core business
equity-accounted companies
0
Operating income
277
Other business income
(2)
812
Other business expense
(16)
BUSINESS INCOME
1,073
Borrowing costs, gross
(17)
Income from cash and cash equivalents
2
Borrowing costs, net
(15)
Other financial income and expense
(8)
NET FINANCIAL EXPENSE
(23)
Share in net income of non-core business
equity-accounted companies
0
Income taxes
(121)
NET INCOME FROM DISCONTINUED OPERATIONS
929
GROUP SHARE OF NET INCOME FROM
DISCONTINUED OPERATIONS
921
operations
Minority interests in net income from discontinued
8
Sector, i.e., October 29, 2015.
The 2015 reporting period was closed as of the date of sale of the Packaging
(1)
Including the €811 million pre-tax gain on disposal of the Packaging Sector in
(2)
2015.