NSG has reported its second-quarter 2016 results, saying that revenue for automotive glass was “slightly better than the previous year, due partly to the impact of a weaker Japanese Yen.”
The company posted cumulative second quarter revenue for automotive glass of $1.3 billion USD (162.4 million Yen), compared to $1.3 billion USD (155.7 million Yen) in the same period of the previous financial year.
“In North America, representing 28 percent of the group’s automotive sales, cumulative revenues were slightly below the previous year. OE market volumes strengthened further. The group’s automotive glass replacement (AGR) revenues fell, however,” according to the company’s report.
European light-vehicle sales were ahead of the previous year, with growth in Western Europe indicating a sustainable market recovery. “The group also benefited from strong volumes in its AGR business.”
In Japan, OE revenues and profitability were ahead of the previous year, despite light-vehicle sales falling after the implementation of revised eco-car tax exemption rules, and “AGR performance was similar to the previous year.”
The automotive glass market continues to be weak in South America.