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BASIC INDUSTRIES: Saint-Gobain (Baa1/BBB+/NR): 1H24 Results

BASIC INDUSTRIES

Credit neutral.

  • Revenue was in-line with consensus, down 4.9% LfL, with an improvement in Q2 over Q1.
  • EBITDA beat by 3% with improvement in input cost.
  • FCF is up 12% YoY on WC release.
  • Leverage up to 1.4x following the CSR acquisition.
  • Press release is light on outlook details, awaiting the presentation.
  • Webcast 07.30 BST https://edge.media-server.com/mmc/p/eyhcafxg/

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