Saint-Gobain, a French construction-materials company, revealed its plans to initiate a share buyback of 420 million euros ($455.3 million) in 2024. Despite experiencing a decrease in net profit for the last year, the company remains optimistic about its future prospects.
Financial Performance Overview
- Net Profit: EUR2.67 billion (down from EUR3.00 billion the previous year)
- Sales: EUR47.94 billion (compared to EUR51.20 billion)
- Operating Profit: EUR5.25 billion (1.6% decrease)
- Operating Margin: Increased to 11.0% from 10.4%
Analyst Expectations
- Analysts anticipated an operating profit of EUR5.16 billion on revenue of EUR48.05 billion.
Future Projections
- Saint-Gobain aims to achieve an operating margin in the double-digit percentage range for 2024.
Dividend and Share Buyback Program
- The board has proposed a dividend of EUR2.10 per share, representing an increase from EUR2.00 in the previous year.
- The planned share buyback of EUR420 million signals the completion of a five-year EUR2 billion program one year ahead of schedule.
Adria Calatayud contributed to this report.
