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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Compagnie De Saint-gobain | LSE:COD | London | Ordinary Share | FR0000125007 | COMPAGNIE DE ST-GOBAIN ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 70.925 | 67.25 | 74.20 | 5,445 | 09:02:36 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Construction Machinery & Eq | 47.94B | 2.67B | - | N/A | 0 |
TIDMCOD
RNS Number : 9768D
Compagnie de Saint-Gobain
01 July 2019
PRESS RELEASE
July 1(st) , 2019
SAINt-Gobain: Impact of ifrs 16 application
The Group has chosen to apply IFRS 16 using the full retrospective method at January 1, 2019, with retroactive effect from January 1, 2018. IFRS 16 aligns the accounting treatment of operating leases with that of finance leases (subject to the exemptions set out in the standard). The impact of IFRS 16 on the Group's consolidated financial statements arises chiefly from leases of property assets.
Applying this standard will result in a change in presentation in the consolidated financial statements for the six months ended June 30, 2019, with restatement of first-half 2018:
- In the balance sheet: a liability will be recognized in respect of future lease payments and an asset will be recognized in respect of the right-of-use granted (net value). The difference between these two amounts will be recognized in equity.
- In the income statement: the rental expense previously recognized within operating income will partly be recorded in depreciation and amortization expense, and partly in net financial expense.
Based on the lease contracts analyzed, the Group estimates that the impact at the transition date is EUR3,011 million on debt and EUR2,744 million on right-of-use assets.
The full-year 2018 impact is an increase of +EUR787 million in EBITDA and +EUR85 million on operating income as detailed below with the new reporting segments following the Group organization change as of January 1, 2019.
Operating income H1 2018 2018 H1 2018 2018 (EURm) (EURm) (in % of (in % of sales) sales) --------- --------- ----------- Post IFRS 16 High Performance Solutions 532 986 14.4% 13.4% Northern Europe 388 856 5.2% 5.6% Southern Europe - ME & Africa 293 603 4.4% 4.6% Americas 235 578 9.1% 11.2% Asia-Pacific 85 194 9.3% 10.4% Misc. -19 -10 --- --- Group total post IFRS 16 1,514 3,207 7.3% 7.7% ---------------------------- --------- ----------- Group total pre IFRS 16 1,469 3,122 7.1% 7.5% Delta IFRS 16 45 85 0.2% 0.2% ---------------------------- --------- ----------- Post IFRS 16 Industry Europe 397 777 7.9% 7.8% Distribution Europe 284 682 3.0% 3.6% ---------------------------- --------- --------- ----------- -----------
Disclaimer: the data presented are currently being reviewed by the statutory auditors.
ABOUT SAINT-GOBAIN
Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change.
EUR41.8 billion in sales in 2018
Operates in 68 countries
More than 180,000 employees
To learn more about Saint-Gobain
go to www.saint-gobain.com
Contacts analystes, investisseurs Contacts presse +33 1 47 62 +33 1 47 62 30 44 29 10 +33 1 47 62 +33 1 47 62 51 Vivien Dardel 35 98 Laurence Pernot 37 Floriana Michalowska +33 1 47 62 Patricia Marie +33 1 47 62 43 Christelle Gannage 30 93 Susanne Trabitzsch 25 ------------------------- ------------- -------------------- ----------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
July 01, 2019 02:07 ET (06:07 GMT)
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