This release is a summary of
JULY-
- Orders received totaled
EUR 86.2 (45.4) million -
Net sales totaled
EUR 47.9 (46.4) million -
Comparable EBITA was
EUR 2.5 (3.2) million, i.e. 5.1 (6.9)% of net sales -
The operating result (EBIT) was
EUR 1.2 (2.3) million -
Comparable earnings per share were
EUR 0.011 (0.019)
JANUARY─SEPTEMBER 2022 IN BRIEF
- Orders received totaled 201.4 (157.1) million
-
Net sales totaled
EUR 153.7 (130.1) million -
Comparable EBITA was
EUR 9.4 (7.6) million, i.e. 6.1 (5.9)% of net sales -
The operating result (EBIT) was
EUR 5.2 (3.9) million -
Comparable earnings per share were
EUR 0.053 (0.038)
GLASTON SPECIFIES OUTLOOK FOR 2022
In the third quarter, overall demand in most of Glaston's markets remained strong, which indicates good development for machines and services businesses for the coming quarters. Glaston began 2022 with a solid order backlog. The strong order intake in January−September further supports Glaston's 2022 full-year net sales and profitability development. Costs and capital expenditure related to the execution of the updated Group strategy, announced in
Contrary to the overall strong market demand, inflation, energy cost increases, raw material prices, and the slowdown in economic growth are causing hesitation among some customers in their investment decisions. Supply chain disturbances are expected to continue, which means higher than normal uncertainty over Glaston's short-term net sales and profitability development. Despite an improved situation, the impact of the COVID-19 pandemic cannot be fully ruled out, especially in
Taking into account the prevailing uncertainties,
(Previous outlook: Despite the prevailing uncertainties,
PRESIDENT & CEO
"Amid increasing uncertainty in the global business environment, the majority of Glaston's markets continued to perform well in the third quarter, and we set a new clear record in order intake at
Market activity for the Services business remained positive with daily flow services continuing strong in all regions. As customers' machine utilization was high and machines were regularly maintained for consistent performance, spare parts saw solid growth. In addition, field services grew as most countries have eased their COVID-19 travel restrictions. Despite continued component shortages and long delivery times, Services net sales in the third quarter increased by 8%.
The supply chain situation remained challenging and a rapid turn for the better is not in sight. Our efforts to manage the situation have increased, which means resources are tied up as additional work and re-planning are carried out on a daily basis ultimately impacting negatively on efficiency and costs.
During the quarter, we continued our good progress with strategy implementation. Taking full advantage of our diverse offering, we were able to close the above-mentioned
Another strategic step was also taken in the third quarter as we entered the market of tempering technologies for solar panel production in
During the review period, our markets remained healthy despite the increasing overall global economic uncertainty and this has resulted in a good order intake for the quarter and also the full year 2022."
GLASTON GROUP'S KEY FIGURES
MEUR | 7−9/2022 | 7−9/2021 | Change% | 1−9/2022 | 1−9/2021 | Change% | 1−12/2021 |
Orders received | 86.2 | 45.4 | 89.9% | 201.4 | 157.1 | 28.2% | 216.2 |
of which service operations | 16.0 | 16.2 | -1.2% | 54.0 | 50.5 | 6.9% | 68.0 |
of which service operations, % | 18.6% | 35.7% | 26.8% | 32.2% | 31.4% | ||
Order book at end of period | 142.3 | 86.1 | 65.3% | 142.3 | 86.1 | 65.3% | 94.8 |
Net sales | 47.9 | 46.4 | 3.3% | 153.7 | 130.1 | 18.2% | 182.7 |
of which service operations | 19.2 | 17.9 | 7.6% | 55.3 | 49.2 | 12.4% | 66.8 |
of which service operations, % | 40.2% | 38.6% | 36.0% | 37.8% | 36.5% | ||
EBITDA | 3.0 | 4.3 | -29.0% | 11.0 | 9.8 | 12.1% | 13.0 |
Items affecting comparability1) | 0.4 | -0.2 | 285.2% | 1.4 | 0.3 | 367.1% | 1.5 |
Comparable EBITDA | 3.5 | 4.1 | -14.8% | 12.4 | 10.1 | 22.8% | 14.5 |
Comparable EBITDA, % | 7.2% | 8.8% | 8.1% | 7.8% | 7.9% | ||
Comparable EBITA | 2.5 | 3.2 | -23.1% | 9.4 | 7.6 | 23.7% | 11.1 |
Comparable EBITA, % | 5.1% | 6.9% | 6.1% | 5.9% | 6.1% | ||
Operating result (EBIT) | 1.2 | 2.3 | -48.4% | 5.2 | 3.9 | 30.6% | 5.1 |
Profit/loss for the period | 0.2 | 1.3 | -86.6% | 1.8 | 1.0 | -83.1% | 1.1 |
Earnings per share, EUR | 0.002 | 0.015 | -86.6% | 0.021 | 0.011 | -83.1% | 0.013 |
Comparable earnings per share, EUR | 0.011 | 0.019 | -42.1% | 0.053 | 0.038 | 41.4% | 0.060 |
Cash flow from operating activities | 3.8 | -0.5 | 860.0% | 1.4 | 13.8 | -89.9% | 19.3 |
Return on investment (ROI), %, (annualized) | 6.1% | 4.5% | 2.8% | ||||
Comparable return on capital employed (ROCE), %, (annualized) | 8.9% | 6.9% | 6.1% | ||||
Equity ratio, % | 64.4% | 42.4% | 42.3% | ||||
Net gearing, % | 27.0% | 33.6% | 26.9% | ||||
Number of employees at end of period | 780 | 743 | 5.0% | 750 |
(1 + cost, - income
ANALYST AND PRESS MEETING
Glaston's CEO
An on-demand version of the presentation will be available on the company's website later during the same day.
For further information, please contact:
President & CEO
Chief Financial Officer
VP, Communications, Marketing and IR
Tel. +358 10 500 5076
Glaston in brief
Glaston is the glass processing industry's innovative technology leader supplying equipment, services and solutions to the architectural, automotive, solar and display industries. The company also supports the development of new technologies integrating intelligence to glass.
Glaston is committed to providing its clients with both the best know-how and the latest technologies in glass processing, with the purpose of building a better tomorrow through safer, smarter, and more energy efficient glass solutions. Glaston operates globally with manufacturing, services and sales offices in 10 countries and its shares (GLA1V) are listed on
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