COURBEVOIE (dpa-AFX) - Saint-Gobain (CODGF.PK), on Thursday, announced an increase in its first-quarter sales.
Sales rose 3.2% to 11.72 billion euros from last year's 11.36 billion euros. On a like-for-like basis, sales inched down 0.3%.
Sales were up 2 percent in Europe on year-over-year basis, which was partially offset by a sales drop of 5% in Southern Europe, the Middle East and Africa. Americas and Asia-Pacific regions reported strong growth of 7.4% and 51.2%, respectively.
Benoit Bazin, Chairman and Chief Executive Officer, commented: 'Sales growth in the first quarter reflected the success of the Group's strategic execution and, as expected, improving trends in certain markets, in particular Europe. In a mixed macroeconomic environment and with geopolitical uncertainty requiring ever more regionalization, Saint-Gobain can count on the strength of its decentralized, country-by-country organization and on the balanced contribution of its different geographical zones. Thanks to its local value chains - industrial footprint, logistics, procurement, branding, sales and customers - the Group is ideally positioned on local construction markets, with no direct exposure to customs tariffs. Across the globe, our unique range of solutions allows us to continue to outperform, thanks to the excellent execution of our teams who have demonstrated their capacity to manage what is under their control and their strong ability to adapt.'
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