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NSG Group: Quarter 3 results of Financial Year ending March 2023

The highlights of the Quarter 3 results of the Financial Year, ending March 2023, in the presentation published by NSG Group are:

  • Continued revenue and operating profit increase with price and volume increase, partly helped by a weaker JPY
  • Higher energy, materials and other costs offset by sales price and volume improvements
  • Strong performance in Architectural continued, price pass-through progressed further in Automotive
  • Decline in sales volume reflecting the lockdown in China and costs rise leading to worse profitability in Technical glass
  • Maintaining shareholder’s equity ratio above RP24 target of 10 percent

Forecast for the Financial Year ending March 2023

  • Full-year forecast revised upward reflecting relatively strong cumulative performance
  • Continuous impact of input cost increases anticipated, with higher energy costs and worldwide inflation trend
  • Focusing on profitability improvement through continuous cost reduction, expansion of VA products and price increase across the whole Group

Update of Transformation Initiatives under Revival Plan 24

  • Business structure reform:
    Construction started to install online coating capacity for solar energy glass to an existing float furnace in Malaysia (Aiming at start of production from 2024/3 Q3)
    Solar energy glass expansion also under consideration in USA
  • Restoration of financial stability: Maintaining shareholders’ equity ratio above RP24 target of 10 percent

To download the full presentation click here.

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