Compagnie de Saint-Gobain S.A.

Compagnie de Saint-Gobain manufactures, produces, and distributes industrial materials. Co.'s activities are divided into four sectors: Innovative Materials (Co. makes, processes and sells glass and glazing products for the building, the automotive and solar energy industries; Co. also manufactures Ceramics and Plastics, Abrasives, and Textiles), Construction Products (Co. offers products for the Insulation, Gypsum, Exterior Products, Pipe and Industrial Mortars), Building Distribution (Co. distributes building materials (plumbing, heating and sanitaryware products) and ceramic tiles), and Packaging - Verallia (Co. manufactures glass containers and jars for foodstuffs and beverages).
  • TickerSGO
  • ISINFR0000125007
  • ExchangeEuronext Paris
  • SectorConstruction & Materials
  • CountryFrance

Analysts

Compagnie de Saint-Gobain SA: Compagnie de Saint-Gobain sells its German distribution activities, a credit positive

Credit implications of Saint-Gobain's sale of its German distribution activities

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/21/2019

Two weeks ago, it seemed rational to tilt our allocation more towards cyclicals and away from defensives (macro, expensive nature of the growth/quality theme). Alas! Donald Trump has gotten involved, rekindling volatility and considerably reducing visibility. What can we do when the search for security is once again pushing yields down, which is favourable for long-term sectors, often synonymous with quality but too expensive? Favour the cash flow/distribution trade combined with an a...

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/05/2019

Il y a 15 jours, colorer de manière plus cyclique, moins défensive, son allocation paraissait rationnelle (macro, cherté de la thématique qualité croissance). Las ! D Trump est passé par là réveillant la volatilité et diminuant considérablement la visibilité. Que faire alors que la recherche de sécurité pousse de nouveau les rendements à la baisse ce qui est favorable aux secteurs à duration longue souvent synonyme de qualité mais trop chers ? Favoriser le couple cash-flow / distribut...

Jehanne Leroy

Saint-Gobain - Assemblée générale des actionnaires du 06 juin 2019

La société a nommé, au 1er janvier 2019, Benoit Bazin comme Directeur général Délégué. Elle propose donc aux actionnaires d’approuver la politique de rémunération de ce nouveau mandataire pour 2019, ainsi que ses avantages postérieurs à l’emploi. Globalement, la politique de rémunération du DGD présente une structure plus en ligne avec nos préconisations que celle du PDG et les montants en jeu sont bien plus modérés. Ainsi, nous soutenons cette politique de rémunération. Concernant ses avantages postérieurs à l’emploi, si les indemnités de départ et clause de non-concurrence ne satisfont pas ...

Expert Corporate Governance Service (ECGS)

Saint Gobain - AGM and EGM 06 June 2019

ITEM 10: Benoit Bazin was designated Deputy CEO as of 1 January 2019. The company proposes therefore to approve its 2019 remuneration policy, as well as its post-employments benefits. Overall, his remuneration policy structure is more in line with our recommendations and amounts at stake are more moderate than the CEO’s. Thus we support it. Regarding his post-employments benefits, his severance indemnity and non-compete clause do not respect our Guidelines. However, his supplementary pension plan does. Thus, we support Item 12.

Compagnie de Saint-Gobain SA: Compagnie de Saint-Gobain sells its German distribution activities, a credit positive

Credit implications of Saint-Gobain's sale of its German distribution activities

Compagnie de Saint-Gobain SA - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Compagnie de Saint-Gobain SA: Key Facts and Statistics - FYE December 2017

A summary company profile, detailing Compagnie de Saint-Gobain’s business operations and financial highlights.

Compagnie de Saint-Gobain SA - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Compagnie de Saint-Gobain SA: Update to Discussion of Key Credit Factors

Saint-Gobain is currently adequately positioned in its current rating category and committed to its current rating.

Sven Edelfelt ...
  • Virginie Rousseau

Saint-Gobain : Selling German distribution business

>Agreement to sell distribution business in Germany - Saint-Gobain has signed an agreement to sell off Saint Gobain Building Distribution Deutschland (the main asset being Raab Karcher) to the Stark group (Ferguson's distribution operations in Scandinavia). The disposal price is € 335m, i.e. a 2018 EV/EBIT multiple of 16x (30bp of margin improvement). Saint-Gobain had booked an impairment on this asset of € 212m at the 2018 earnings release, vs a purchase price of € ...

Sven Edelfelt ...
  • Virginie Rousseau

Saint-Gobain : La distribution au "Karcher"

>Cession de la distribution en Allemagne - Saint-Gobain a conclu un accord en vue de céder l’intégralité de son activité de distribution en Allemagne (dont le principal actif est Raab Karcher) au groupe Stark (actifs scandinaves de Ferguson dans la distribution). Le prix de cession ressort à 335°M€, soit une VE/EBIT 2018 de 16x (30 pb d’amélioration de marge). Rappelons que Saint-Gobain avait déprécié cet actif de 212°M€ lors de la publication des résultats 2018 pour...

Jean-Christophe Dourret

Saint-Gobain : Saint Gobain - 2 Mai 2019

...

Jean-Christophe Dourret

Saint-Gobain : Saint-Gobain - 2 mai 2019

...

Eric Lemarie

SAINT GOBAIN | NEUTRAL | EUR47 Very nice start to the year

SAINT GOBAIN | NEUTRAL | EUR47 Very nice start to the year

1 director sold after exercising options/sold

A director at Compagnie De St-Gobain sold after exercising options/sold 302,818 shares at 37.709EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted u...

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/21/2019

Two weeks ago, it seemed rational to tilt our allocation more towards cyclicals and away from defensives (macro, expensive nature of the growth/quality theme). Alas! Donald Trump has gotten involved, rekindling volatility and considerably reducing visibility. What can we do when the search for security is once again pushing yields down, which is favourable for long-term sectors, often synonymous with quality but too expensive? Favour the cash flow/distribution trade combined with an a...

Alexandre Iatrides ...
  • Olfa Taamallah
  • Samantha Jeary
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/05/2019

Il y a 15 jours, colorer de manière plus cyclique, moins défensive, son allocation paraissait rationnelle (macro, cherté de la thématique qualité croissance). Las ! D Trump est passé par là réveillant la volatilité et diminuant considérablement la visibilité. Que faire alors que la recherche de sécurité pousse de nouveau les rendements à la baisse ce qui est favorable aux secteurs à duration longue souvent synonyme de qualité mais trop chers ? Favoriser le couple cash-flow / distribut...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/26/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/04/2019

...

Alexandre Iatrides ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/15/2019

With doubts on the growth of non-conventional oil in the US gaining traction, the recovery of already necessary investment in offshore has now become vital to restoring equilibrium in the oil market out to 2025. Cost-cutting measures have rendered these projects very attractive for oil companies which should accelerate the pace of their investment decisions, thus benefiting oil services companies. We prefer Total, RD Shell, Subsea 7, SBM Offshore and GTT. Cf. report published this mor...

SAINT GOBAIN sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of SAINT GOBAIN (FR), active in the Building Materials & Fixtures industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date May 14, 2019, the closing price was EUR 33.84 and its target price was estimated at EUR 30.61.

Nurhayati Wan

Saint-Gobain

Nurhayati Wan

Saint-Gobain

Nurhayati Wan

Saint-Gobain

Nurhayati Wan

Saint-Gobain

MarketLine Department

Wienerberger AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Wienerberger AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Wienerberger AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Hig...

MarketLine Department

Imerys SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Imerys SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Imerys SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights Thi...

MarketLine Department

Compagnie de Saint-Gobain - Strategy, SWOT and Corporate Finance Report

Synopsis Compagnie de Saint-Gobain - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Summary - Detailed information on Compagnie de Saint-Gobain required for business and competitor intelligence needs - A study of the major internal and external factors affecting Compagnie de Saint-Gobain in the form of a SWOT analysis - An in-depth view of the business model of Compagnie de Sai...

Jehanne Leroy

Saint-Gobain - Assemblée générale des actionnaires du 06 juin 2019

La société a nommé, au 1er janvier 2019, Benoit Bazin comme Directeur général Délégué. Elle propose donc aux actionnaires d’approuver la politique de rémunération de ce nouveau mandataire pour 2019, ainsi que ses avantages postérieurs à l’emploi. Globalement, la politique de rémunération du DGD présente une structure plus en ligne avec nos préconisations que celle du PDG et les montants en jeu sont bien plus modérés. Ainsi, nous soutenons cette politique de rémunération. Concernant ses avantages postérieurs à l’emploi, si les indemnités de départ et clause de non-concurrence ne satisfont pas ...

Expert Corporate Governance Service (ECGS)

Saint Gobain - AGM and EGM 06 June 2019

ITEM 10: Benoit Bazin was designated Deputy CEO as of 1 January 2019. The company proposes therefore to approve its 2019 remuneration policy, as well as its post-employments benefits. Overall, his remuneration policy structure is more in line with our recommendations and amounts at stake are more moderate than the CEO’s. Thus we support it. Regarding his post-employments benefits, his severance indemnity and non-compete clause do not respect our Guidelines. However, his supplementary pension plan does. Thus, we support Item 12.

Saint-Gobain – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 07/06/2018

The main subject of this AGM is the renewal of the mandate of Mr de Chalendar, Chairman and CEO. We deeply regret that the Chairman did not restore the “One Share – One Vote” principle. However, we note the improvements made regarding the governance (board with a majority of independent members, Lead Independent director…). Therefore, we support his re-election. However, we do not support his 2018 remuneration policy as the propositions made are exactly the opposite of our recommendations. The board proposes to increase the fixed remuneration, hence to increase the maximum amount of the bonus...

Jehanne Leroy

Proxy Report - 07/06/2018

Le principal sujet de cette assemblée est le renouvellement de M. de Chalendar. Proxinvest regrette vivement que le Président n'ait pas restauré le principe "Une Action - Une Voix". Cependant, nous notons les progrès mis en place en termes de gouvernance : le conseil est désormais majoritairement indépendant (57% selon Proxinvest) et un administrateur référent indépendant (M. Sénard) a été nommé en juin 2017. Ce sont ces améliorations ainsi que les performances du groupe d'un point de vue environnemental qui nous incitent à soutenir son renouvellement. Notons toutefois que le cours de Saint-Go...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Add exposure to cyclicals Our positive outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains intact and we believe a “buy the dip” strategy is warranted. We recommend taking advantage of recent weakness -- where applicable -- by adding exposure to cyclical Sectors. • Actionable Sectors: Consumer Discretionary and Manufacturing. Today's recommendations focus on autos, auto parts, and machinery which span the Discretionary and Manufacturing Sectors. We initially recommended adding exposure to autos and auto parts in our 3/14/19 Int'l Compass, and we view the recent mild pullb...

Jérôme VINERIER

Short term view - COMPAGNIE DE SAINT GOBAIN SA : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €30.400. The background trend would be questioned should prices rise above €39.022.

Jérôme VINERIER

Analyse court terme - COMPAGNIE DE SAINT GOBAIN SA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 30,400 €. La tendance de fond serait remise en cause en cas de franchissement de 39,022 €.

Jérôme VINERIER

Short term view - COMPAGNIE DE SAINT GOBAIN SA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €30.400. The background trend would be questioned should prices rise above €39.022.

Jérôme VINERIER

Analyse court terme - COMPAGNIE DE SAINT GOBAIN SA : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 30,400 €. La tendance de fond serait remise en cause en cas de franchissement de 39,022 €.

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