Saint-Gobain H1 Profit Down

(RTTNews) - French building materials firm Saint-Gobain (CODGF.PK), Wednesday reported first-half 2024 net income of 1.45 billion euros or 2.84 euros per share, up from 1.66 billion euros or 3.31 euros per share last year.

Recurring net income for the six-month period was 1.82 billion euros or 3.57 euros per share, up from 1.71 billion euros or 3.40 per share last year.

Revenues for the period dropped 6.0% to 24.95 billion euros from 23.46 billion euros last year.

Benoit Bazin, Chairman and Chief Executive Officer, commented: "Our first-half results once again demonstrate the success of Saint-Gobain's new profile, reflecting the Group's ability to adapt to different macroeconomic environments and to continue to outperform. The roll-out of our comprehensive range of sustainable and innovative solutions and the resulting enhancement in our mix, together with our decentralized organization by country with accountability on commercial performance and on proactive cost management, have enabled us to deliver a new record operating margin and strong free cash flow generation. I am very grateful for our teams' dedication and their contribution to the Group's consistent improvement in its performance."

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