Volume 49, Issue 3 - March 2014

FinancialFlash

NSG Reports Revenue Increase in Architectural Segment

Architectural segment operating results for the NSG Group “were significantly better than the previous year,” the company reported in its third-quarter fiscal-year 2014 (FY2014) consolidated financial results. According to the announcement, revenues improved due to the translational impact of a weaker Japanese yen. The architectural business recorded revenues of nearly $1.8 billion USD and an operating profit of $71.2 million USD.

Overall, NSG Group reported cumulative group revenues were up 17 percent for FY2014 to $4.4 billion.

In North America, NSG reported that its architectural glass markets continued to improve during the quarter, mainly due to increases in private residential construction. Likewise, volumes in North America were similar to the previous year, with strengthening domestic demand offsetting reduced dispatches of solar energy glass, according to the company.

The company reported that economic difficulties in Europe continued to depress construction and refurbishment activity, and that current year market volumes were stable, but remain at historically low levels. Volume in Europe fell by 10 percent and year-to-date average commodity glass prices were slightly below the previous year, according to the report.

The statement noted that in Japan, the prospects for the company’s architectural markets continue to be positive, with a further increase in new housing starts from the previous year.

NSG Architectural Segment Summary of Cumulative Results (millions of USD)

Revenue Operating profit before exceptional items
Q3 FY14 Q3 FY13 Q3 FY14 Q3 FY13
1,771,876 1,585,719.62 71,171 (13,375)

 

Net Sales Increase in 2013 for Glaston
Helsinki, Finland-based Glaston reported 2013 orders totaling $167.6 million USD, while orders received in the fourth quarter totaled $42.3 million. Likewise, in releasing its 2013 financial report, the company saw consolidated net sales for the year of $166.1 million. Final quarter net sales were $48. 8 million.

The operating result, excluding non-recurring items, was a profit of $2.9 million for the year.

Company officials point to a perceptible positive note in North America throughout the year and also in Europe, particularly in the final quarter.

Glaston had previously announced a framework cooperation agreement with the Chinese Jinjing Group. The parties agreed on a long-term, strategic partnership within the business fields of offline tempering, double- and triple-silver low-E glass, machinery and equipment, according to the company.

Glaston also closed a $2.6 million deal for a heat treatment line and several pre-processing machines with the Taiwanese company G-TECH Optoelectronics Corp., as well as a $2.5 million deal with CSG Group for a double-chamber furnace FC500™+ RC350™ 2460-380 equipped with the Vortex Pro™ convection control system.

 

Glaston Net sales, USD million 10-12/2013 10-12/2012 2013 2012
Machines 38.6 31.2 1272 116.5
Services 11.0 13.6 41.5 44.4

EBIT 1-12/2013 1-12/2012
Machines 2.3 -2.6
Services 5.3 5.9
Other and eliminations -5.5 -6.7
EBIT, excluding non-recurring items 2.1 -3.4
Non-recurring items 3.7 -5.4
EBIT 5.9 -8.8

 

 


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