Saint-Gobain publishes results for the year ended December 31, 2011.
Pierre-André de Chalendar, Chairman and Chief Executive Officer of Saint-Gobain says,”Against a backdrop of volatility in 2011, with the recovery picking up pace in the first half but slowing in the second, Saint-Gobain continued to expand and develop during the year. We were able to curb the impact of soaring raw material and energy costs by increasing our sales prices, and as a result, delivered another sharp rise in earnings for the year.”
The economic outlook for 2012 is still uncertain.” However, providing the economic and financial crisis does not escalate, trading should remain satisfactory on our principal markets. Thanks to our attractive strategic positioning and strong balance sheet, we are confident of our performance going forward. We are therefore targeting moderate organic growth, driven mainly by the increase in sales prices needed to offset the rise in raw material and energy costs, while operating income and profitability should prove resilient,” notes de Chalendar.
Sales : 42,116
In terms of dividend policy, at its meeting of February 16 Compagnie de Saint-Gobain’s Board of Directors decided to recommend to the June 7, 2012 Shareholders’ Meeting a dividend payout of €653 million**, representing 38% of recurring net income and 51% of net income, i.e., a dividend of €1.24 per share, up 8% on the 2010 dividend. Based on the closing share price at January 31, 2012 (€34.02), this represents a dividend yield of 3.65%. The dividends will be paid entirely in cash on June 14, 2012, with the ex-coupon date scheduled for June 11, 2012.