AGC: Revision to consolidated financial results forecast for FY 2022

AGC Inc. has revised first half consolidated financial forecast for the fiscal year ending December 31, 2022, which were announced on February 8, 2022.

Revision to the first half consolidated financial results forecast
January 1 through June 30, 2022

Reasons for the Revision of Consolidated Financial Forecast
The AGC Group’s net sales, operating profit for the first half of the fiscal year ending December 31, 2022 are expected to exceed the forecast which was announced on February 8, 2022. Net sales is expected to exceed the initial forecast due to higher-than-expected sales prices of caustic soda and polyvinyl chloride (PVC) in Southeast Asia in the Chemicals segment, and higher raw material and fuel prices being passed on to sales prices in the architectural glass business in Europe. Operating profit is expected to exceed the initial forecast due to higher-than-expected sales prices of caustic soda and polyvinyl chloride (PVC) in Southeast Asia.

The full-year forecast is currently under scrutiny and will be announced at the time of the second quarter earnings announcement scheduled for August 2, 2022