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SAINT-GOBAIN IN 1992: NET INCOME OF 2.38 BILLION FRENCH FRANCS

 PARIS, March 25 /PRNewswire/ -- The board of directors of Compagnie de Saint-Gobain met today and approved the consolidated financial statements of the group for 1992.
 The key consolidated figures are as follows:
 COMPAGNIE DE SAINT-GOBAIN
 (In millions of French francs)
 1992 1991
 Sales 74,007 75,065
 Operating Income (A) 6,414 7,099
 Income before tax and before results
 on sales of non-current assets 3,820 4,726
 Net income before minority interests 2,590 2,882
 Net income 2,377 2,509
 Net income, excluding results
 on sales of non-current assets 2,130 2,549
 Resources from operations (cash flow) 7,864 8,199
 Capital expenditure 5,077 5,700
 Total expenditure on fixed assets
 and investments 6,576 7,930
 Total shareholders' equity 38,946 36,701
 Net indebtedness 18,085 20,463
 Employees (as at December 31) 100,373 104,653
 (A) -- After restatement of 1991 to be consistent with new accounting classifications adopted in 1992.
 Group sales are down by 1.4 percent despite the consolidation of OBERLAND for the whole year (against 4 months in 1991). On a comparable structure basis in French Francs, the decrease in sales is 3.9 percent.
 Sales are split: France, domestic market 27 percent, exports from France 11 percent, other European countries 40 percent, countries outside Europe 22 percent.
 Operating income has decreased by 10 percent. It is stated after the depreciation charge which rose by 4 percent, and overheads, down 3 percent.
 Income before tax and before results on sales of non-current assets is down 19 percent with dividends from non-consolidated subsidiaries amounting to FF 438 million (-17 percent). It is stated after net interest expense of FF 2,168 million (-3 percent) and after non-operating costs of FF 864 million, up 28 percent, mainly because of the restructuring measures which have been taken.
 Net income before minority interests includes capital gains resulting from the sales of non-current assets of FF 312 million, against a loss of FF 34 million in 1991. The gains relate to the sales of fixed assets and financial investments, including treasury stock.
 Net income is stated after income taxes of FF 1,174 million compared to FF 1,532 million in 1991. Amortization of goodwill is similar to that of 1991 (FF 309 million).
 Net income is down by 5.3 percent and is stated after deduction of FF 213 million (1991: FF 373 million) for minority interests in the Group's subsidiaries.
 Earnings per share based on the number of shares issued at Dec. 31, 1992 (69,993,279 shares) are FF 33.96 against FF 36.95 at Dec. 31, 1991 (67,898,425 shares). Excluding results on sales of non-current assets, they are FF 30.43 per share against FF 37.54 in 1991.
 Cash flow is down by 4.1 percent and covers capital expenditure on fixed assets and investments which are both significantly lower.
 The group's net indebtedness has declined by FF 2.4 billion. It represents 46 percent of shareholders' equity, against 56 percent at the end of 1991.
 The board of directors has also approved the statutory accounts of Compagnie de Saint-Gobain, the parent company (holding) of the group. These accounts show a profit of FF 1,416 million against FF 1,344 million in 1991.
 Accordingly, it will be proposed to the annual general meeting of shareholders of Compagnie de Saint-Gobain, which has been convened for June 17, 1993, dividends of FF 1,015 million, against FF 984.5 million last year. The dividend per share is therefore FF 14.5, as last year.
 A tax credit of FF 7.25 per share should be added, giving a gross dividend of FF 21.75 per share. As has been the case in previous years, it will be proposed to offer shareholders the possibility of opting for the payment of the dividend by way of shares.
 -0- 3/25/93
 /CONTACT: Anne Guimard of Compagnie de Saint-Gobain, in Paris: 33-1-47623308 or (fax) 33-1-47784503, or investor relations department, 33-1-47624314 or 33-1-47624234/


CO: Compagnie de Saint-Gobain ST: IN: SU: ERN

TS -- NY052 -- 9587 03/25/93 12:29 EST
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Date:Mar 25, 1993
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