NSG, parent company to Pilkington, reported that despite improved performance, annual revenues for automotive glass were down compared to the prior year due to the negative impact of the strengthened Japanese Yen. However, at a constant exchange rate, revenue would have increased, according to the company report.
The company’s automotive business reported sales of $2.7 billion USD (296.2 billion Yen) for the fiscal year April 1, 2016 to March 31, 2017. This compares to sales of $2.9 billion USD (316.3 billion Yen) in the previous year.
In Europe, improved market conditions and an improvement to the company’s operational performance led to an increase in profit.
In Japan, the company reported a slight drop in profits. “In Automotive, our revenues and profits were slightly below the previous year, despite the improvement in market conditions after the Kumamoto Earthquake at the beginning of the year,” the report states.
North America continues to have “a robust market,” with an overall increase in revenue and profit. The company reports that performance improved and sales for NSG OE volumes increased.
NSG also reports an increase in revenue in the rest of the world, with mixed market conditions among regions. “Our Automotive business in South America continues to suffer from the weak market conditions,” the company notes.