Income statement at December, 31 (in € thousands) <strong>2008</strong> 2007 2006 Operating revenue Roy<strong>al</strong>ties and license fees 123,257 122,813 112,190 Other services 76,044 68,856 68,396 Net revenue 199,301 191,669 180,586 Write-backs of depreciation, amortization, impairment and provisions 11,589 7,727 16,057 Expense transfers 5,308 8,519 2,358 Other operating income 355 85 93 Tot<strong>al</strong> I 216,553 208,000 199,094 Operating expenses Other purchases and extern<strong>al</strong> charges (123,046) (126,212) (113,665) Taxes other than on income (5,967) (6,103) (5,046) Wages and s<strong>al</strong>aries (36,855) (38,021) (36,648) Payroll taxes (17,533) (17,636) (17,046) Depreciation, amortization, impairment and provisions (22,536) (17,328) (10,140) Other operating expense (2,766) (2,593) (2,607) Tot<strong>al</strong> II (208,703) (207,893) (185,152) OPERATING INCOME 7,850 107 13,942 Share in profits/(losses) of joint ventures – – – Profits Tot<strong>al</strong> III – – – Losses Tot<strong>al</strong> IV – – – Financi<strong>al</strong> income Income from investments in subsidiaries and affiliates 985,604 548,741 457,288 Income from loans and other investments 835,876 690,434 532,540 Income from other non-current investment securities 21 33 46 Other interest income 154,095 86,915 114,187 Write-backs of impairment and provisions, expense transfers 11,764 50,405 81,639 Foreign exchange gains 43,929 46,347 138,458 Net income from s<strong>al</strong>es of marketable securities 14,932 7,902 - Tot<strong>al</strong> V 2,046,221 1,430,777 1,324,158 Financi<strong>al</strong> expense Amortization, impairment and provisions (23,034) (14,132) (79,720) Interest expense (889,085) (702,680) (628,619) Foreign exchange losses (33,653) (43,715) (146,390) Net losses on s<strong>al</strong>es of marketable securities - - Tot<strong>al</strong> VI (945,772) (760,527) (854,729) Net financi<strong>al</strong> income (Note 2) 1,100,449 670,250 469,429 INCOME BEFORE TAX AND EXCEPTIONAL ITEMS 1,108,299 670,357 483,371 186 Saint-Gobain – Financi<strong>al</strong> Report <strong>2008</strong>
(in € thousands) <strong>2008</strong> 2007 2006 Exception<strong>al</strong> income On revenue transactions 4,709 894 212 On capit<strong>al</strong> transactions 52,880 81,285 3,105,209 Write-backs of depreciation, amortization, impairment and provisions 10,620 61,612 323,020 Tot<strong>al</strong> VII 68,209 143,791 3,428,441 Exception<strong>al</strong> expense On revenue transactions (11,950) (5,191) (7,717) On capit<strong>al</strong> transactions (56,608) (128,757) (3,133,030) Depreciation, amortization, impairment and provisions (4,894) (69,346) (71,872) Tot<strong>al</strong> VIII (73,452) (203,294) (3,212,619) Net exception<strong>al</strong> (expense)/income (Note 3) (5,243) (59,503) 215,822 Income taxes (Note 4) Tot<strong>al</strong> IX 160,471 260,296 149,994 Tot<strong>al</strong> income 2,330,983 2,247,175 5,101,687 Tot<strong>al</strong> expenses (1,067,456) (1,376,025) (4,252,500) NET INCOME 1,263,527 871,150 849,187 187 FINANCIAL STATEMENTS Saint-Gobain – Financi<strong>al</strong> Report <strong>2008</strong>
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2008 annual report
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Contents 05 • Strategy and busine
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3 STRATEGY AND BUSINESSES Jean-Loui
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Strategy and Businesses of Saint-Go
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Responding to recession by demonstr
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The High-Performance Materials Divi
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High-Performance Materials Business
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Insulation products are made from m
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Construction Products Businesses an
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Finland, Estonia, Lithuania and Pol
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ecovered glass can be recycled inde
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The “Germ-free Surfaces” progra
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24 2008 results dampened by the fin
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holders of the parent contracted 7.
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28 2008 business review 2008 sales
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30 The Division also continued to e
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32 In the Nordic countries, Dahl de
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Sustainable development 34 Sustaina
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Environment Challenges Action taken
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38 I. Products and services contrib
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40 Sun Saint-Gobain is a major supp
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42 a British trade association that
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44 Mobilizing resources to deploy t
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46 EHS auditors are drawn from a po
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48 Lastly, we make every effort to
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To help them to implement the plan,
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52 Wood dust is primarily an issue
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54 BRØDRENE DAHL’S PROGRAM FOR R
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56 2008-2010 OBJECTIVE Saint-Gobain
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58 warehouses and other similar spa
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product developed in 2006 by Lapeyr
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62 Internships during a student’s
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64 Geographical and job mobility is
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66 SAINT-GOBAIN AND THE BROAD-BASED
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68 Honest, open, high quality socia
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70 Construction Products The Constr
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72 IV. Values supporting responsibl
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74 INTERNATIONAL CORPORATE FOUNDATI
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76 In countries facing certain soci
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78 for example, 91% of the Group’
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ENVIRONMENTAL INDICATORS 2007 2008
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Trading volume since September 2007
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Trading volume since September 2007
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Changes in capital over the last fi
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88 The decision to grant stock opti
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Information Policy and 2009 Financi
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92 Yuko HARAYAMA Professor at Tohok
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Other directorships and positions h
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96 Director’s name and current ma
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98 • Committees of the Board. Thr
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100 The Committee’s remit, as def
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• The Annual General Meeting of J
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4. Stock options granted to the Cha
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106 Management compensation In Grou
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Fees paid by the Group to the Audit
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110 Related party agreements Relate
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112 The audits are based on a 20-st
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114 being applied. The TAS framewor
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Statutory Auditors’ report Prepar
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Commitment concerning the payment o
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120 Restructuring risks The Group h
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122 • Volumes are not material, o
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124 or any specific illness or phys
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The level of coverage is considered
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Consolidated balance sheet at 31 De
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Consolidated income statement (in
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Statement of recognized income and
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Notes to the consolidated financial
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- Page 142 and 143: 140 Fair value of financial instrum
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- Page 146 and 147: 2006 In 2005, the Group acquired th
- Page 148 and 149: NOTE 4 Other intangible assets Pate
- Page 150 and 151: NOTE 6 Investments in associates (i
- Page 152 and 153: 150 NOTE 8 Inventories Dec. 31, Dec
- Page 154 and 155: Movements relating to stock options
- Page 156 and 157: The plan costs are calculated under
- Page 158 and 159: The following tables show the funde
- Page 160 and 161: Actuarial assumptions used to measu
- Page 162 and 163: The effective tax rate paid by the
- Page 164 and 165: Provisions for claims and litigatio
- Page 166 and 167: isks is hedged wherever possible wi
- Page 168 and 169: Bond issues On June 13, 2008, Saint
- Page 170 and 171: NOTE 19 Financial instruments Deriv
- Page 172 and 173: NOTE 21 Business income by expense
- Page 174 and 175: The weighted average number of shar
- Page 176 and 177: 174 In addition, as of December 31,
- Page 178 and 179: NOTE 28 Related-party transactions
- Page 180 and 181: Innovative Construction Building Pa
- Page 182 and 183: Information by geographic area Fran
- Page 184 and 185: 182 Principal fully consolidated co
- Page 186 and 187: II - Justification of our assessmen
- Page 190 and 191: Balance sheet at December, 31 ASSET
- Page 192 and 193: Cash flow statement (in € thousan
- Page 194 and 195: Risk management/Financial instrumen
- Page 196 and 197: NOTE 5 Intangible assets Intangible
- Page 198 and 199: Changes in Compagnie de Saint-Gobai
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- Page 202 and 203: 9.4 Compagnie de Saint-Gobain Group
- Page 204 and 205: NOTE 12 Debt and payables Total deb
- Page 206 and 207: 12.1 Perpetual bonds In 1985, Compa
- Page 208 and 209: NOTE 14 Investment portfolio Countr
- Page 210 and 211: COMPANIES Capital Reserves % Book v
- Page 212 and 213: NOTE 18 Fees paid to the Statutory
- Page 214 and 215: Asbestos-related litigation in Braz
- Page 216 and 217: Statutory Auditors’ report on the
- Page 218 and 219: Main subsidiaries by country and de
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- Page 222 and 223: Saint-Gobain Construction Products
- Page 224 and 225: Saint-Gobain Building Distribution
- Page 226 and 227: Subsidiaries: Saint-Gobain Technica
- Page 228 and 229: CHINA €1 = CNY 10.227 Saint-Gobai
- Page 230 and 231: Table of concordance 1 Person respo
- Page 232 and 233: COMPAGNIE DE SAINT-GOBAIN France He
- Page 234 and 235: Notes 232 Saint-Gobain - Financial
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