NSG, parent company to Pilkington, has reported that its fiscal fourth-quarter automotive revenue has increased to $2.97 billion USD (¥305.1 billion) from $2.38 billion USD (¥245.0 billion) in the same time frame of the previous year. Profits for the division were $109 million USD (¥11.2 billion), compared to $46.7 million USD (¥4.8 billion) in the prior year.
“Market conditions generally improved from the previous year,” according to a company statement.
In Europe, the company reported that cumulative light-vehicle sales remained at a low level, similar to the previous year.
“Volumes improve gradually through the year, however, with fourth-quarter volume gains tentatively indicating a market recovery,” officials wrote in the company statement. “In the OE sector, the group’s cumulative local currency revenues were slightly ahead of the previous year. Profits improved due mainly to cost savings arising from the groups’ restructuring program. Results in the automotive glass replacement business also improved due to increased demand.”
In Japan, OE volumes were stronger than the prior year. Domestic vehicle demand was up through the year, according to officials.
“AGR markets were stable,” they noted.
In North America, revenues and profitability improved, officials reported.
“OE market volumes were ahead of the previous year and the AGR business benefited from increased demand following harsh winter weather conditions,” they wrote.
“In the rest of the world, revenues improved due to increased volumes, although volume growth in South America stalled towards the end of the year,” officials added.
Company-wide, the NSG Group reported that its cumulative group revenues were up 16 percent to $5.9 billion USD (¥606.1 billion), compared to $5.1 billion USD (¥521.3 billion) in the prior year.