The highlights of the Quarter 3 results of the Financial Year, ending March 2023, in the presentation published by NSG Group are:
- Continued revenue and operating profit increase with price and volume increase, partly helped by a weaker JPY
- Higher energy, materials and other costs offset by sales price and volume improvements
- Strong performance in Architectural continued, price pass-through progressed further in Automotive
- Decline in sales volume reflecting the lockdown in China and costs rise leading to worse profitability in Technical glass
- Maintaining shareholder’s equity ratio above RP24 target of 10 percent
Forecast for the Financial Year ending March 2023
- Full-year forecast revised upward reflecting relatively strong cumulative performance
- Continuous impact of input cost increases anticipated, with higher energy costs and worldwide inflation trend
- Focusing on profitability improvement through continuous cost reduction, expansion of VA products and price increase across the whole Group
Update of Transformation Initiatives under Revival Plan 24
- Business structure reform:
Construction started to install online coating capacity for solar energy glass to an existing float furnace in Malaysia (Aiming at start of production from 2024/3 Q3)
Solar energy glass expansion also under consideration in USA - Restoration of financial stability: Maintaining shareholders’ equity ratio above RP24 target of 10 percent
To download the full presentation click here.