Glass Manufacturer Records Significant Increase in RevenuesNovember 29th, 2021 by Editor
NSG Group, parent company to Pilkington, saw a 25% increase in architectural glass revenues in the most recent quarter compared to the same period last year, according to its latest financial report.
NSG reports sales in this segment totaled $544 million in its second-quarter fiscal year 2022, which represents the months of July-September 2021.
The architectural segment accounted for 45% of the company’s revenue during the quarter and includes the manufacture and sale of flat glass and various interior and exterior glazing products for commercial and residential applications.
It also includes glass for the solar energy market.
“Architectural revenues recovered significantly from the previous year, especially in Europe, where favorable conditions continued, and in Asia and Americas as well,” the report reads. “Operating profit also improved significantly, as energy price increases were mitigated by sales price increase reflecting strong demand and cost saving efforts.”
Architectural glass revenues in the Americas, which includes the U.S. and Canada and represented 29% of NSG Group’s architectural sales in the quarter, were $169.7 million during the period—an increase of nearly 73% from the same period a year ago.
“In [the] Americas, revenues and profits were higher than the previous year,” the report reads. “In North America, sales volume increased, while shipments [were] constrained to some extent by low inventory levels due to [the] cold repair and shortages of transportation capacity in North America.”
Note: All dollar figures were converted from Yen to USD on November 23, 2021.