StockMarketWire.com - Compagnie de Saint-Gobain's net income soared by 60% to €953m in 2014 despite a challenging macroeconomic climate in France and uncertainty in Germany.

Like-for-like sales ales were up 2.2% but down 1.7% on a reported basis due to the negative 1.5% currency impact and the negative 2.4% impact resulting from changes in group structure - chiefly related to the disposal of Verallia North America.

Earnings before interest, tax, depreciation and amortisation rose by 3.9% on a like for like basis excluding VNA while recurring net income rose by 7.4% to €1,027m.

Chairman and chief executive Pierre-André de Chalendar said: "2014 confirmed the improvement in the Group's results despite a challenging macroeconomic climate in France and uncertainty in Germany. Other regions reported good levels of growth. We continued to cut costs on all fronts.

"During the year, Saint-Gobain embarked on a significant reorganization of its business portfolio, with the plan to acquire a controlling interest in Sika and the launch of a competitive bidding process for the sale of Verallia. This marks an acceleration in the roll-out of the strategy we unveiled in November 2013.

"In 2015, we will continue to implement our strategic priorities and we are targeting a further like-for-like improvement in operating income along with continuing high levels of free cash flow."






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