NSG, parent company to Pilkington, has reported that its fiscal first-quarter automotive revenue has increased to $784 million USD (¥80.6 billion) from $755 million USD (¥77.6 billion), compared to the same period of last year. Profits for the division were $29 million USD (¥2.9 billion) compared to $27 million USD (¥2.8 billion).
“In the automotive business, revenues increased from the previous year with a gradual improvement in business,” according to a company statement.
In North America, revenues and profitability “improved.”
“OE market volumes continued to increase and the automotive glass replacement (AGR) business benefited from robust demand following harsh winter weather conditions,” officials wrote in a company statement.
In Europe, cumulative light-vehicle sales were up 5 percent year-over-year, according to officials.
“Results in the AGR business were worse than the previous year with sluggish demand following a relatively mild winter,” officials reported.
In Japan, volumes were stronger.
“Domestic demand was robust despite an increase in sales taxes during the quarter,” according to the company’s statement. “The group’s revenues improved with the increased demand, although profitability was impacted by increased input costs. AGR markets were slightly ahead of the previous year.”
Looking at the rest of the world, officials said revenues and profits fell in the automotive division.
“Market conditions in South America were particularly difficult, with a reduced number of working days in Brazil and a challenging economic environment in Argentina,” officials said.
Company-wide, the NSG Group reported that its cumulative group revenues were up 3 percent to $1.51 billion USD (¥155.7 billion) from $1.46 billion (¥150.7 billion) in the same period of last year.