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4-Traders Homepage  >  Shares  >  Tokyo  >  Nippon Sheet Glass Company, Limited    5202

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Nippon Sheet Glass : FY2016 1st Quarter Results Summary of Key Points

07/31/2015 | 02:36am US/Eastern
FY2016QUARTER1RESULTS FY2016 QUARTER 1 RESULTS

(from 1 April 2015 to 30 June 2015)
31 July 2015

Trading profit remains at same level as previous year, cost base continues to improve, year-on-year reduction of exceptional costs

Performance in North America and South East Asia remains strong

Difficult market conditions in South America and challenging competitive environment in Display business

Improved performance in Japan

Gradually improving outlook for Europe

Full-year forecast for FY16 unchanged

Trading profit remains at same level as previous year, cost base continues to improve, year-on-year reduction of exceptional costs

o Cumulative Group revenues of ¥ 162.1bn were 4% above the previous year (Q1 FY15: ¥ 155.7bn)

o Trading profit, before amortization and exceptional items, of ¥ 5.2bn (Q1 FY15: ¥ 5.1bn)

o Q1 FY16 Architectural revenue ¥ 64.7bn (Q1 FY15: ¥ 60.1bn) and profits of ¥ 3.3bn (Q1 FY15:

¥ 1.9bn)

o Q1 FY16 Automotive revenue ¥ 83.1bn (Q1 FY15: ¥ 80.6bn) and profits of ¥ 2.6bn (Q1 FY15:

¥ 3.0bn)

o Q1 FY16 Technical Glass revenue ¥ 14.2bn (Q1 FY15: ¥ 14.7bn) and profits of ¥ 0.2bn (Q1 FY15:

¥ 1.6bn)

o Q1 FY16 exceptional costs ¥ 0.6bn (Q1 FY15: ¥ 1.6bn)

Performance in North America and South East Asia remains strong

o Revenues and profits improved as North American architectural markets continue to show growth

o South East Asia benefitting from robust Solar Energy glass dispatches

Difficult market conditions in South America and challenging competitive environment in Display business

o In South America, Automotive businesses continue to be impacted by weak market conditions, lower Architectural profits due to float repair in Argentina

o Strong competition in the market of thin glass for displays

Improved performance in Japan

o Architectural markets benefitting from eco-point program incentives

o Reduced light-vehicle sales but NSG Automotive volumes maintained

Gradually improving outlook for Europe

o Signs of improving market outlook can be seen in Architectural

o Light-vehicle sales indicate automotive market recovery in Western Europe

Nippon Sheet Glass Co., Ltd. Corporate Communications Department

5-27, 3-chome, Mita Minato-ku, Tokyo, 108-6321 Japan

TEL: +81-3-5443-9477 FAX: +81-3-5443-9543

Extract from NSG Group FY2016 Quarter 1 financial results presentation, 31 July 2015

Consolidated Income Statement (JPY bn) Revenue T rading profit A mortization* Operating profit Exceptional items Finance expenses (net)

Share of JVs and associates Loss before taxation Loss for the period

Loss attributable to owners of the parent

EBITDA

* Amortization arising from the acquisition of Pilkington plc only

** 1% based on constant exchange rates

Profit reflects mixed market conditions

31 July 2015 FY2016 Quarter 1 Results

Nippon Sheet Glass Co., Ltd. Corporate Communications Department

5-27, 3-chome, Mita Minato-ku, Tokyo, 108-6321 Japan

TEL: +81-3-5443-9477 FAX: +81-3-5443-9543

Change from Cum Q1 FY2015

4%**

2%

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