On reviewing the automotive segment, NSG, parent company to Pilkington, reported revenues similar to the previous year, with increases in Japan and North America partly offset by reductions in South America.
Reviewing the automotive segment, officials reported that revenues were similar to the previous year, with increases in Japan and North America partly offset by reductions in South America.
“OE market volumes continued to increase (in North America),” according to the company’s report. “(There was) strong automotive glass replacement (AGR) demand following harsh winter weather conditions.”
In Europe, the OE market recovery is “slowing down,” according to officials. “(There were) lower AGR volumes following mild a winter.”
Meanwhile, in Japan OE volumes were “robust, despite consumption tax increase,” according to the report.
Looking at the rest of the world, NSG reported that weak market conditions persisted in Brazil. Officials also noted that Argentina had a “challenging economic environment.”
On a company-wide basis, cumulative group revenues came in at USD 2.67 billion (JPY 309.5 billion), 2% above the prior year.