Saint Gobain - Registration document 2016

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5 2016 RESULTS AND OUTLOOK FOR 2017
1. Financial Results
96 SAINT-GOBAIN - REGISTRATION DOCUMENT 2016
Operating performance by Business Sector 1.1.1
Innovative Materials a)
INNOVATIVE MATERIALS
25% 38%
2016 SALES
INDUSTRIAL
ASSETS
AT END-2016
ORGANIC
GROWTH
OPERATING
INCOME
CAPEX €573m +4.5%
VOLUME
+2.2%
PRICES
+2.3%
€1,106m
MARGIN
11.2%
2016 VS. 2015
Business Sector widened to 11.2% from 10.5%, driven by the rebound in Flat Glass and a good performance from HPM.
Innovative Materials sales climbed 4.5% like-for-like over the year, in line with the first half. The operating margin for the
FLAT GLASS
Sales (€m) Operating income and margin (€m - %)
ORGANIC
GROWTH
OPERATING
INCOME
CAPEX €375m +6.5%
VOLUME
+2.9%
PRICES
+3.6%
€490m
MARGIN
9.1%
2016 VS. 2015
H1-2015 H2-2015 H1-2016 H2-2016
2,633
2,584
2,656
2,708
H2-2015 H1-2015 H1-2016 H2-2016
7.4% 8.5% 8.8% 9.5%
194
7.9%
219
234
256
9.1%
automotive glass stabilized at a good level.
half, from a rise in the price of downstream glass;
automotive in Asia and emerging countries. In Western
benefiting from higher float prices and, as from the second
Europe, construction volumes and prices both improved,
in line with the first half, led by both construction and
Flat Glass like-for-like sales increased 6.5% over the year, ‹
9.5% in second-half 2016.
increase in operating margin, up from 7.9% to 9.1%, and
operating leverage over recent years, resulted in a further
This organic growth, combined with the optimization of ‹