Glass manufacturer AGC, headquartered in Japan, has released its financial results for nine months in 2022. Net glass sales amounted to JPY 650.7 billion (approximately EUR 4.64 billion) compared to JPY 544.7 billion (approximately EUR 3.89 billion). The company notes that this was also facilitated by the rise in the price of architectural glass. But in the European region, demand for glass is falling.
The company said that the impact of high gas prices in Europe was absorbed by energy surcharges. But, rising prices for raw materials and other energy sources had a negative impact. In the third quarter of 2022, the company noted a decrease in the supply of products to Europe due to the economic slowdown. In October, AGC temporarily furnace stop at the Boussois plant (France) due to decreasing demand.
In contrast, the supply of architectural glass increased in Japan and Southeast Asia. Also, demand remains strong in North America, where the production of architectural glass has been transferred.
For the fourth quarter of 2022, AGC is concerned about continued high raw material and fuel prices, as well as the impact of the economic downturn, especially in Europe. But, in Europe, the company expects profitability to recover in the medium term. The bet is on the growth of demand for energy-saving glass. As there is an urgent need to make buildings more energy efficient to reduce gas consumption.
Photo: AGC
AGC plant in France
AGC increases sales of architectural glass, but not thanks to Europe
ID no: 22487
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