The company has reported its Q1 results, with sales down by only 4.9% lfl. Sales were hit most significantly in China and in its HPS division (the Automobile end-market has been troublesome since last year) until mid-March, but since then the company has seen a sharp decline in its activity level. Saint-Gobain has announced cost-savings initiatives and the cancellation of the FY19 dividend, but has not provided FY20 guidance. We have made minor adjustments to our model which had no impact on our ....
27 Apr 2020
Q1 20 results in line, but low visibility for FY20 results
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Q1 20 results in line, but low visibility for FY20 results
Compagnie de Saint-Gobain SA (COD:LON) | 7,010 -7360.5 (-1.5%) | Mkt Cap: 35,502m
- Published:
27 Apr 2020 -
Author:
Sejal Varshney -
Pages:
3
The company has reported its Q1 results, with sales down by only 4.9% lfl. Sales were hit most significantly in China and in its HPS division (the Automobile end-market has been troublesome since last year) until mid-March, but since then the company has seen a sharp decline in its activity level. Saint-Gobain has announced cost-savings initiatives and the cancellation of the FY19 dividend, but has not provided FY20 guidance. We have made minor adjustments to our model which had no impact on our ....