We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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% | 77.45 | 74.65 | 81.95 | 33,048 | 10:13:56 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Construction Machinery & Eq | 47.94B | 2.67B | - | N/A | 0 |
TIDMCOD
RNS Number : 1674H
Compagnie de Saint-Gobain
23 March 2020
PRESS RELEASE
March 23, 2020, at 8:00 am
SAINT-GOBAIN PUTS IN PLACE NECESSARY MEASURES TO ADAPT
TO THE CORONAVIRUS PANDEMIC
Saint-Gobain's businesses are disrupted in the countries impacted by the coronavirus, with very different situations from one country to another.
Since the start of the health crisis in China, the Group has taken the necessary measures to ensure the health of its employees, customers, suppliers and other stakeholders. It is cooperating with the authorities in each country where it is present.
In terms of its business activity, Saint-Gobain is quickly adapting to the evolution in demand, aiming for operational continuity, depending on the health situation and on government decisions in each country, whilst reducing costs (reduction of teams, partial unemployment or stoppages) and prioritizing the health of its stakeholders:
- In our distribution activities, which mostly serve trade professionals rather than the general public, the Group has adjusted its service offering to customers over the last few days, with new procedures in terms of orders for collection, delivery and via online and telephone orders; in particular, certain brands in France that were closed for a few days have progressively recommenced business;
- In our manufacturing activities, sites have made the necessary adjustments given the impacts of the crisis on the value chain, in particular in the automotive market. The operation of our factories is continuously adapted as the situation evolves, in a very flexible manner within the new organization. In this respect, all of our Chinese factories have restarted operations, following the rapid improvement in demand.
Given the context, Saint-Gobain is taking all necessary actions to limit the effects of the pandemic on its operating profit and cash as much as possible:
- Much greater decrease in capital expenditure than the EUR200m reduction initially planned for 2020 versus 2019 by deferring all possible projects that were scheduled in the coming months;
- Adaptation of cost structure and postponement of expenses, using local measures where appropriate, in particular unemployment and partial unemployment;
- Ever tighter monitoring of working capital evolution.
The Group has a very solid financial position and has the necessary cash and financing in place to cope with the consequences of the pandemic. As of December 31, 2019 the Group's cash and cash equivalents stood at EUR5.0 billion. In addition, the financing sources available to the Group have recently been further reinforced given the current context:
- A new syndicated credit line of EUR2.5 billion, in addition to the confirmed and undrawn back-up credit lines of EUR4.0 billion;
- Access to the new Pandemic Emergency Purchase Program (PEPP) launched by the European Central Bank on March 18, 2020.
At the publication of its 2019 results Saint-Gobain set out its outlook for 2020 subject to the impact of the coronavirus. Given the pandemic, the guidance for 2020 is no longer valid and it is not currently possible to evaluate its impact on the Group's businesses.
The Group will provide an update at the publication of its first-quarter 2020 sales on April 23.
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.
EUR42.6 billion in sales in 2019
Operates in 68 countries
More than 170,000 employees
For more information about Saint-Gobain
Visit www.saint-gobain.com
and follow us on Twitter @saintgobain
Analyst/Investor relations Press relations +33 1 47 62 +33 1 47 62 30 44 29 10 +33 1 47 62 +33 1 47 62 Vivien Dardel 35 98 Laurence Pernot 51 37 Floriana Michalowska +33 1 47 62 Patricia Marie +33 1 47 62 Christelle Gannage 30 93 Susanne Trabitzsch 43 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
UPDGRGDXSGDDGGX
(END) Dow Jones Newswires
March 23, 2020 03:34 ET (07:34 GMT)
1 Year Compagnie De Saint-gobain Chart |
1 Month Compagnie De Saint-gobain Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions