NSG Reports Revenue Increase in Architectural
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)
||Operating profit before exceptional
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
|Glaston Net sales, USD million
|Other and eliminations
|EBIT, excluding non-recurring items
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