Saint Gobain - Registration document 2016

5 2016 RESULTS AND OUTLOOK FOR 2017 1. Financial Results

a good level of 28 days’ sales, a rise of 1.7 days from the Operating working capital requirements (WCR) remained at

€175 million in value terms (to €3,010 million). record low recorded in 2015 and representing an increase of

OPERATING WCR (at December 31, in EUR million and no. of days)

+1.7 days over 12 months

5,123

4,858

4,773

4,677

4,069

3,514 3,417 3,356

3,493

3,284

2,835 3,010

49

44

40 38

34

31

31

29

29 30

28

26

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

ONGOING TIGHT REIN ON OPERATING WCR

in 2015) and relate to targeted acquisitions in Asia and Investments in securities totaled €362 million (€227 million to consolidate the Group’s positions in Building Distribution, emerging countries, technological niche markets, and efforts

credit effective in 2017). This contribution will enable the $640 million to US pension funds ($422 million after the tax Net debt represents 29% of consolidated equity, compared to Group to save around $20 million in finance costs each year.

especially in Nordic countries.

25% at December 31, 2015.

share buybacks of €418 million and a one-off contribution of Net debt rose from €4.8 billion to €5.6 billion, due mainly to

The net debt to EBITDA ratio came out at 1.4 versus 1.2 at end-2015.

NET DEBT AND SHAREHOLDERS’ EQUITY (in EUR billion)

19.3

19.1

18.4

17.9

17.9

8.5

7.5

7.2

5.6

4.8

Q NET DEBT Q SHAREHOLDER’S EQUITY

12-2012

12-2013

12-2014 12-2015 12-2016

47%

42%

39% 25% 29%

NET DEBT

1.9

1.8

1.8

1.2

1.4

SHAREHOLDER’S EQUITY / EBITDA

PERSISTENTLY STRONG BALANCE SHEET

* EBITDA = operating income + operating depreciation / amortization over a 12-month period.

104

SAINT-GOBAIN - REGISTRATION DOCUMENT 2016

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