A “remarkable” revenue increase in architectural glass helped NSG Group, parent company to Pilkington, increase overall revenue and operating profits in Q3. Company data shows that Q3 profits also improved thanks to better prices and volume, which was helped by a weaker Japanese Yen.
Additionally, the data indicates that sales price improvements helped absorb the continuous impact of input costs.
According to its financial report, NSG recorded an overall Q3 revenue of $1.4 billion. The architectural glass segment reported a Q3 revenue of $711 million. Architectural glass includes the manufacture and sale of flat glass, various interior and exterior glazing products for commercial and residential applications and glass for the solar energy market.
NSG’s financial report explains that architectural glass experienced substantial Q3 growth in all regions; however, European demand softened slightly, while demand for solar energy glass remained robust.
Regionally, architectural glass sales prices increased in Japan, while sales volume and prices decreased throughout Asia due to strong competition in other countries. In the Americas, increased sales prices reflected strong demand, especially for solar energy glass. The report also indicated that shipping constraints were resolved in North America. In Europe, revenue and profits remained up despite a slowdown in demand due to inflation and high-interest rates.
NSG officials forecast that demand for architectural glass will remain favorable, while the impact of energy prices and a potential recession remains a concern in Europe and the U.S.