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GLASTON SPECIFIES OUTLOOK FOR 2024
(published on August 9, 2024 in the half-year 2024 financial report)

In the second quarter of the year, the cautious development in the architectural glass processing equipment markets continued. The earlier expected market recovery has been delayed and the markets are now anticipated to recover towards the end of 2024 at the earliest. For mobility glass processing equipment, the market in China is expected to grow with increased short-term volatility. Amid global economic uncertainty and continued geopolitical tensions, higher-than-normal uncertainty exists concerning customers’ decision-making.

Glaston Corporation specifies its outlook and estimates that its net sales will stay at the same level as in 2023. Comparable EBITA is estimated to amount to EUR 14.5−16.0 million. The net sales growth is curbed by the delayed market recovery whereas the planned structural cost-saving actions support profitability. In 2023, Group net sales totaled EUR 219.7 million and comparable EBITA was EUR 14.9 million.

(Previous outlook: Glaston Corporation estimates that its net sales and comparable EBITA will stay at the same level or increase slightly in 2024 from the levels reported for 2023.)

GLASTON’S OUTLOOK FOR 2024 REMAINS UNCHANGED
Published on May 3, 2024 in the Q1 2024 interim report

The cautious development in the architectural glass processing equipment markets continued in the first quarter of the year. Despite the slow start, Glaston expects the architectural glass processing equipment markets to start recovering at some point in 2024. For mobility glass processing equipment, the positive development in China is expected to continue. Amid global economic uncertainty and increased geopolitical tensions, higher-than-normal uncertainty exists concerning customers’ decision-making.

Glaston started the year with a lower order backlog than the previous year. However, given the expected slowly improving market activity during the year, Glaston Corporation estimates that its net sales and comparable EBITA will stay at the same level or increase slightly in 2024 from the levels reported for 2023. In 2023, Group net sales totaled EUR 219.7 million and comparable EBITA was EUR 14.9 million.

GLASTON’S OUTLOOK FOR 2024
(published on February 15,2024)

Amid early signs of increasing market activity, Glaston expects the architectural glass processing equipment markets to start recovering slowly at some point in 2024. In Europe, demand is expected to remain at the current level with the recovery taking place towards the end of the year. In the Americas, the current demand level is expected to continue. In China, demand in the Architectural market is expected to remain at a reasonable level. In the mobility glass processing equipment market, the cautiously positive development is expected to continue driven by China. With global economic uncertainty and geopolitical tensions continuing, higher-than-normal uncertainty exists in relation to customers’ decision-making.

Glaston starts the year with a lower order backlog than the previous year. However, given the expected improving market activity during the year, Glaston Corporation estimates that its net sales and comparable EBITA will stay at the same level or increase slightly in 2024 from the levels reported for 2023. In 2023, Group net sales totaled EUR 219.7 million and comparable EBITA was EUR 14.9 million.

Outlook as published in the Q3 2023 interim report  26 October 2023: Net sales estimate specified, comparable EBITA estimate unchanged

In the third quarter of 2023, the increasing market uncertainty and more cautious customer behavior continued. The activity in the architectural market further decreased, and the environment of softer demand is expected to continue in Europe and China also in the final quarter of the year. In the Americas, the demand prospects are better. Despite the softening of the markets, demand continues to be supported by the need to modernize existing equipment and the strong megatrends driving interest in energy-efficient glass solutions.

Throughout 2023, Glaston has focused on the execution of its strategy, which will incur costs and capital expenditure ahead of the effect on revenue growth. With ongoing geopolitical tensions and increasing uncertainty in the global business environment, a higher-than-normal level of unpredictability is related to customers’ investment decisions.

Due to the prevailing uncertainties, Glaston Corporation specifies its net sales estimate and expects net sales in 2023 to grow marginally or to be on the same level as reported for 2022. Glaston continues to estimate that comparable EBITA will increase to EUR 13.7−15.7 million. In 2022, the Group’s full-year net sales totaled EUR 213.5 million and comparable EBITA was EUR 13.6 million.

(Previous outlook: Despite the prevailing uncertainties, Glaston estimates that its net sales will increase in 2023 from the levels reported for 2022 and estimates comparable EBITA to increase to EUR 13.7−15.7 million.)

GLASTON SPECIFIES OUTLOOK FOR 2023
published in the H1 2023 report on 1 August 2023

In the first half of 2023, signs of increasing market uncertainty and more cautious customer behavior were visible. Due to the slowdown in the architectural market, the demand environment is expected to be softer in Europe and China during the rest of the year, while demand prospects are better in the Americas. Despite the softening of the markets, demand continues to be supported by the strong megatrends driving interest in energy-efficient glass solutions.

In 2023, Glaston has continued to focus on the execution of its strategy, which will incur costs and capital expenditure ahead of the effect on revenue growth. With ongoing geopolitical tensions and increasing uncertainty in the global business environment, a higher-than-normal level of unpredictability is related to customers’ investment decisions.

Glaston’s net sales and profitability development in 2023 continue to be supported by a healthy order backlog.

Despite the prevailing uncertainties, Glaston Corporation estimates that its net sales will increase in 2023 from the levels reported for 2022 and specifies its outlook for comparable EBITA, which is estimated to increase to EUR 13.7−15.7 million. In 2022, the Group’s full-year net sales totaled EUR 213.5 million and comparable EBITA was EUR 13.6 million.

(Previous outlook: Glaston Corporation estimates that its net sales and comparable EBITA will improve in 2023 from the levels reported for 2022.)

GLASTON’S OUTLOOK FOR 2023 REMAINS UNCHANGED
published in the Q1/2023 interim report on 26 April 2023

In 2023, Glaston expects the markets to remain active despite some regional differences. The strong megatrends driving the demand for energy-efficient glass solutions continue to support Glaston’s markets. Europe could however be particularly affected by the slowdown in the architectural market. In the Americas, Glaston expects the demand to continue strong, whereas, in China, the prospects of the architectural market remain uncertain.

In 2023, Glaston continues to focus on the execution of its strategy, which will incur costs and capital expenditure ahead of the effect on revenue growth. Amid geopolitical tensions and increasing uncertainty in the global business environment, the higher-than-normal level of unpredictability is related to customers’ investment decisions.

Glaston entered 2023 with an order backlog 46 % higher than in the previous year, which supports the company’s net sales and profitability development. The Automotive production ramp-up in China continues to have a negative impact on profitability in the second quarter of 2023. Glaston Corporation estimates that its net sales and comparable EBITA will improve in 2023 from the levels reported for 2022. In 2022, Group full-year net sales totaled EUR 213.5 million and comparable EBITA was EUR 13.6 million.

GLASTON’S OUTLOOK FOR 2023
as in the Financial Statements Bulletin on 9 February 2023

In 2023, Glaston expects the overall market activity to remain at a good level despite some regional differences. Although the megatrends support the use of energy-efficient windows, demand in Europe could be affected by the slowdown in the architectural market. In the Americas, Glaston expects the demand to continue strong, whereas in China, the prospects of the architectural market are uncertain.

In 2023, Glaston continues to focus on the execution of its strategy, which will incur costs and capital expenditure ahead of the effect on revenue growth. As supply chain disturbances and geopolitical tensions continue, a higher-than-normal uncertainty is related to the development of economic activity and customers’ investments.

Glaston entered 2023 with an order backlog 46% higher than in the previous year. This provides a strong starting point for 2023 and supports the company’s net sales and profitability development. Glaston Corporation estimates that its net sales and comparable EBITA will improve in 2023 from the levels reported for 2022. As is typical, Glaston expects the first quarter of 2023 to be the weakest of the year, additionally impacted by low upgrade net sales and a higher share of new products. In 2022, Group full-year net sales totaled EUR 213.5 million and comparable EBITA was EUR 13.6 million.

GLASTON SPECIFIES OUTLOOK FOR 2022
(published in the January-September 2022 report on 27 October 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 August 2021, will occur ahead of the effect on revenue growth.

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 China.

(Previous outlook: Despite the prevailing uncertainties, Glaston Corporation estimates that its net sales will increase in 2022 from the levels reported for 2021 and specifies its outlook for comparable EBITA, which is estimated to increase to EUR 12−15 million. In 2021, Group net sales totaled EUR 182.7 million and comparable EBITA was EUR 11.1 million.)

GLASTON SPECIFIES OUTLOOK FOR 2022
(published in the half-year January-June 2022 report on 4 August 2022)

During the first half of 2022, the overall demand in most of Glaston’s markets remained strong, indicating good development for machines and services businesses. In 2022, Glaston’s net sales and profitability development are supported by the solid order backlog at the beginning of the year as well as healthy order intake during the first half of 2022. Costs and capital expenditure related to the execution of the refined Group strategy, announced in August 2021, will occur ahead of the effect on revenue growth.

Currently, higher than usual uncertainty is related to the development of global economic activity and customers’ investments. The uncertainty is driven by, in particular, the supply chain disturbances, which have become a longer-term challenge, and the Russian attack on Ukraine with its implications for energy and raw material prices. The impacts of the still ongoing COVID-19 pandemic add to the uncertainty, especially in China.

Despite the the prevailing uncertainties, Glaston Corporation estimates that its net sales will increase in 2022 from the levels reported for 2021 and specifies its outlook for comparable EBITA, which is estimated to increase to EUR 12−15 million. In 2021, Group net sales totaled EUR 182.7 million and comparable EBITA was EUR 11.1 million.

 

GLASTON’S OUTLOOK FOR 2022
(published in the January-March Interim Report 27 April 2022)

In 2021, Glaston’s markets saw a strong recovery and growth. This positive development continued in the first quarter of 2022, indicating good development for both machines and services business. Glaston started the year with a 48% higher order backlog than in 2021, which supports Glaston’s net sales and profitability development. In 2022, Glaston is focusing on the execution of its strategy, which will incur costs and capital expenditure ahead of the effect on revenue growth.

Currently, higher than normal uncertainty is related to the development of economic activity and customers’ investments. The uncertainty is driven by several simultaneous factors, such as the supply chain disturbances that have become a longer-term challenge, the Russian invasion of Ukraine with its implications on energy and raw material prices, and the still ongoing COVID-19 pandemic.

Despite the prevailing uncertainties, Glaston Corporation expects market development to continue to be positive and estimates that its net sales and comparable EBITA will improve in 2022 from the levels reported for 2021. In 2021, Group net sales totaled EUR 182.7 million and comparable EBITA was EUR 11.1 million.

GLASTON’S OUTLOOK FOR 2022
(as published in the Financial Statements on 14 February 2022)

In 2021, Glaston’s markets saw a continued recovery and strong growth. We expect positive development to continue in 2022 with good progress for both machines and services business. At the start of 2022, our order backlog was 48% higher than the previous year providing a strong starting point for 2022 and supporting Glaston’s net sales and profitability development. In 2022, Glaston will focus on the execution of its strategy which will incur costs and capital expenditure ahead of the effect on revenue growth. As the COVID-19 pandemic continues and supply chain disturbances have become a longer-term challenge, a higher than normal uncertainty is related to the development of economic activity and customers’ investments.

Glaston Corporation estimates that its net sales and comparable EBITA will improve in 2022 from the levels reported for 2021. In 2021, Group net sales totaled EUR 182.7 million and comparable EBITA was EUR 11.1 million.