Yves Bromehead's questions to COMPAGNIE DE SAINT GOBAIN (CODYY) leadership • H1 2019
Question
Yves Bromehead of Exane BNP Paribas asked about the value consideration from divestments, the use of proceeds for shareholder returns, and the potential for consolidating the U.S. plasterboard industry.
Answer
CFO Sreedhar stated that signed deals would bring the company close to 90% of its cash consideration target from divestments. CEO Pierre-André de Chalendar reiterated that cash allocation prioritizes CapEx and dividends, with M&A and buybacks being opportunistic. He also confirmed the company regularly reviews consolidation opportunities but remains highly disciplined on price.