Saint-Gobain Share Buyback and Financial Results 2023

by webmaster

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.

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