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5
5
2016 RESULTS AND OUTLOOK FOR 2017
1. Financial Results
95
SAINT-GOBAIN
- REGISTRATION DOCUMENT 2016
SALES
(in EUR million)
2015 Exchange
rates
Structure Price Volumes
2016
39,623
39,093
-2.9%
-1.0%
+2.6%
0.0%
+2.6%
Like-for-like
GROUP
-1.3%
on an actual
basis
Depreciation of
pound sterling
and
Latin American currencies
against the euro
Impact of disposals in
Building
Distribution
Prices stable
over the year,
gaining 0.6% in H2, amid an upturn
in inflation
Further
volume
growth in all
Business Sectors and regions
X
X
X
X
second-half 2015). In line with our objectives, we saw a
6.7% in 2015, with 7.4% for the second half (versus 6.9% in the second half, bringing growth over the full year to 10.8%.
further like-for-like increase in operating income, up 11.5% in
expressed as a percentage of sales)
increased to 7.2%
from
The Group’s operating margin
(= Operating income
OPERATING INCOME
(in EUR million and % of sales)
H1-2015 H2-2015 H1-2016 H2-2016
6.4%
6.9%
7.0%
7.4%
1,275
2,636 (6.7%)
1,361
1,368
1,450
2,818 (7.2%)
2016/2015
+10.8%
like-for-like
Operating income up 6.9%
on an actual basis
Improved Group margin at 7.2%
,
up in all Business Sectors
X
X
(versus 2015), exceeding our €250 million target.
line with our objective; we made
€270 million in cost savings
In 2016, the Group’s
capital expenditure
was
€1.37 billion
, in
Group’s operating performance.
Free cash flow
jumped 29% to €1,258 million, in line with the
Operating working capital requirements
remained at a good
record low of 2015.
level of 28 days, despite a rise of 1.7 days’ sales, after the
representing close to €300 million in full-year sales.
The Group continued to pursue its
acquisitions strategy
,
the Group is confident that SWH’s rights will be restored.
Regarding the plan to acquire a controlling interest in Sika,