Nippon Sheet Glass (NSG) released its third quarter financial results and it shows that total auto glass sales increased over the same period last year. NSG is one of the largest auto glass manufacturers and offers both original equipment manufacturer (OEM) and aftermarket glass, according to the company.
NSG saw an increase of 3.2 percent, on sales of $4,143.96 billion USD, converted as of this afternoon, when compared to its results for the previous year. The financial figures for its three quarters that ended on December 31, 2018.
(FY 19 Q3)
(FY 19 Q3)
|Automotive Glass||¥ 235.0 billion||$2.12 billion||¥ 9.1 billion||$0.082 billion|
The report indicates a stable demand across Asia and the Americas even though its automotive demand was lessened a bit in Europe. NSG found “a reduction in domestic light vehicle sales” to be a main cause for its decline in its automotive glass during its third quarter.
“Europe represents 45 percent of the Group’s automotive sales. Results improved in the Group’s original equipment (OE) business, although the strong progress during the first two quarters did not continue into the third quarter. Markets softened markedly during the third quarter with demand effected by both a decline in domestic light-vehicle sales and weakening exports of luxury vehicles,” a section of the report reads.
Auto glass markets across Asia remained the same this quarter as it did during 2017’s third quarter. Meanwhile, the Americas (specifically North America) continued its “strong demand” for NSG’s automotive glass, according to the report, as it represents 33 percent of the company’s automotive sales. The automotive market makes up 51 percent of NSG’s sales, as it supplies a range of automotive glazing for new vehicles and for replacement markets. The company reported $2.2 billion USD, converted as of this afternoon, as its total revenue from its automotive market in its three quarter report.
Overall NSG found its prices have generally remained stable across most of its businesses. It also expects the markets to be stable for the rest of the year.