NSG Group, parent company to Pilkington, saw an 83% increase in automotive glass revenues in the most recent quarter compared to the same period last year, according to its latest financial report.
NSG reports sales in this segment totaled $645.5 million in its first quarter fiscal year 2022, which represents the months of April-June 2021.
The automotive segment accounts for 48% of the company’s revenue and includes glass for new vehicles and replacement.
“In the Automotive business, revenues and profits were significantly ahead of the previous year which had been badly affected by the COVID-19 pandemic during the first quarter,” the report reads. “Underlying consumer demand was strong, although demand for the Group’s products was impacted by component shortages curtailing vehicle build levels at the Group’s customers.”
Automotive glass revenues in the Americas, which includes the U.S. and Canada and represents 35% of NSG Groups automotive sales, were $222.5 million during the quarter—more than doubling the same period during the previous year.
“In the Americas … revenues also increased strongly from the previous year,” the report reads. “The positive impact of removing COVID-19 restrictions was partly offset by the impact on vehicle production of computer-chip component shortages.”
Note: All dollar figures were converted from Yen to USD on August 10, 2021.