GLASTON CORPORATION    INTERIM REPORT      28.10.2026 AT 8.30

This release is a summary of Glaston Corporation's January-September 2026 interim report. The complete report is attached to this release as a pdf-file. The release is also available on the company's website at the address www.glaston.net.

JULY–SEPTEMBER 2026 IN BRIEF

  • Orders received totaled EUR 42.2 (43.4) million
  • Net sales totaled EUR 39.8 (56.5) million
  • Comparable EBITA was EUR 2.9 (4.8) million, i.e. 7.2 (8.5)% of net sales
  • The operating result (EBIT) was EUR 2.0 (3.0) million
  • Comparable earnings per share were EUR 0.036 (0.076)

JANUARY─SEPTEMBER 2026 IN BRIEF

  • Orders received totaled EUR 121.6 (128.5) million
  • Net sales totaled EUR 122.3 (159.8) million
  • Comparable EBITA was EUR 8.3 (11.0) million, i.e. 6.8 (6.9)% of net sales
  • The operating result (EBIT) was EUR 12.2 (3.4) million
  • Comparable earnings per share were EUR 0.108 (0.125)

GLASTON’S OUTLOOK FOR 2026 REMAINS UNCHANGED

The architectural glass processing equipment market remained cautious in the third quarter, and a significant recovery is not expected in the near future. However, overall customer discussions and project business activity slightly improved in the third quarter and are expected to continue into the fourth quarter. Driven by China, the mobility glass processing equipment market is expected to be at the same level as in 2025. The service business environment is anticipated to remain healthy, with continued demand for equipment modernizations.

Glaston continues to respond to subdued equipment demand through improved operational efficiency and focused growth opportunities, particularly in lifecycle services and solutions that improve customers’ productivity. Due to the ongoing geopolitical tensions and global economic unpredictability, higher-than-normal uncertainty is related to customers’ investment decisions. 

Glaston’s outlook remains unchanged. The company estimates that its net sales will decrease in 2026 from the levels reported for 2025. Comparable EBITA is estimated to amount to EUR 9.0−11.0 million. In 2025, Group net sales totaled EUR 208.8 million and comparable EBITA was EUR 14.0 million.


PRESIDENT & CEO MIIKA ÄPPELQVIST

“In the third quarter, the market environment remained cautious. Architectural-related investment remained weak across our main regions and customers continued to take a cautious approach to new capacity decisions. While customer activity slightly increased compared to the first half of the year, this did not yet translate into new equipment orders. In the US, weak architectural market indicators continued to weigh on customer confidence and investment decisions. The European markets remained subdued, although early signs of improving customer activity emerged in Central Europe. In the Mobility market, China continued to be the most active market, supported by the demand for advanced glass processing technologies. The market environment for Services remained resilient despite the weakness in new equipment investments. Demand for upgrades, spare parts and service work strengthened further, particularly in North America.

The different market dynamics across our regions and technologies were reflected in our third-quarter order intake. Orders received totaled EUR 42.2 million, the highest level so far this year, although still 3% below the comparison period. Order intake for Mobility, Display & Solar Technologies and Services continued to develop positively. Mobility machine orders more than doubled year-on-year and totaled EUR 10.5 million. This reflects our technological competitiveness in meeting the automotive industry’s evolving requirements for automation, production efficiency and optical quality. The majority of mobility orders in the third quarter originated from APAC. Driven by our strong commercial focus on Services, the business maintained its positive development, with orders increasing by 8% year-on-year, led by the Americas. Upgrade demand remained strong, supported by our focused commercial efforts and customers’ continued investments in improving the performance of their existing equipment.

The low order intake in the previous quarters affected net sales. With both segments performing below the level of the previous year, net sales were down by 30% and totaled EUR 39.8 million. Service’s net sales remained stable year-on-year, and represented 53% of total sales, highlighting its importance in our offering. Despite the significant decline in net sales, we maintained a comparable EBITA margin of 7.2%, corresponding to EUR 2.9 million. Our cost reduction measures during the past two years, the move of the Mobility, Display and Solar production from Switzerland to China, and the positive Services development helped mitigate the impact of lower equipment volumes, providing a stronger foundation for profitability as market conditions improve.

While the prolonged market weakness has weighed on our sales performance, we recognize that there is more we can do to strengthen our commercial execution and competitiveness. We are intensifying our focus on commercial excellence through targeted initiatives, more proactive customer engagement and a sharper focus on winning opportunities across our markets. Our objective is clear: to compete more effectively and capture opportunities even in a market that remains challenging.

Glasstec, held every two years in Düsseldorf in October, is the glass processing industry’s leading trade fair and an important platform for our commercial activities. At the event, we introduced new products across our tempering, insulating glass, and laminating technologies. We also launched new automation solutions designed to improve the productivity and efficiency of customers’ existing production facilities. These launches support our growth ambitions by strengthening our offering to existing customers and expanding our reach to new customers, particularly in the mid-market segment. Despite the uncertainties in the global business environment, customer discussions indicated cautious signs of improving activity, with some longer term projects in the EMEA region that are now expected to move forward.

Looking towards the end of the year, we continue to see slightly improving customer activity. At the same time, the uncertain business environment is having an impact, with the delivery of some customer projects in the Middle East expected to be delayed. For order intake, the third quarter marked our strongest so far this year, and our ambition is clear: to make the fourth quarter order intake even stronger. With an increasing number of active customer opportunities and intensified commercial efforts across our businesses, we are fully focused on converting this momentum into orders and finishing the year on a positive note.”

GLASTON GROUP’S KEY FIGURES

MEUR 7-9/
2026		 7-9
/2025		 Change% 1-9/
2026		 1-9/
2025		 Change
%		 1-12/
2025
Orders received 42.2 43.4 -2.8% 121.6 128.5 -5.4% 177.4
of which service operations 21.8 20.2 7.8% 62.4 55.7 12.2% 73.8
of which service operations, % 51.6% 46.5% 51.4% 43.3% 41.6%
Order book at end of period 60.4 63.1 -4.3% 60.4 63.1 -4.3% 61.3
Net sales 39.8 56.5 -29.5% 122.3 159.8 -23.5% 208.8
of which service operations 21.1 21.2 -0.8% 60.0 60.7 -1.1% 81.2
of which service operations, % 52.9% 37.6% 49.1% 38.0% 38.9%
EBITDA 4.0 5.2 -23.3% 18.5 10.1 83.4% 13.8
Items affecting comparability1) -0.1 0.7 -119.7% -7.3 4.2 -271.2% 5.1
Comparable EBITDA 3.8 5.9 -35.0% 11.3 14.3 -21.4% 18.9
Comparable EBITDA, % 9.6% 10.4% 9.2% 9.0% 9.1%
Comparable EBITA 2.9 4.8 -39.9% 8.3 11.0 -24.9% 14.0
Comparable EBITA, % 7.2% 8.5% 6.8% 6.9% 6.7%
Operating result (EBIT) 2.0 3.0 -33.2% 12.2 3.4 255.9% 4.4
Profit/loss for the period 1.3 2.3 -42.5% 9.5 1.0 818.4% 1.2
Comparable earnings per share, EUR3) 0.036 0.076 -52.7% 0.108 0.125 -13.4% 0.151
Cash flow from operating activities 3.2 -2.8 214.1% 3.7 -0.9 511.4% -0.4
Return on capital employed (ROCE), %, (annualized) 15.6% 5.0% 4.8%
Comparable return on capital employed (ROCE), %, (annualized) 7.7% 12.1%2) 11.3%
Equity ratio, % 50.7% 42.4% 43.3%
Net gearing, % 21.1% 44.5% 43.8%
Number of employees at end of period 738 792 -6.8% 772



1)+ cost, - income
2) Comparison period figure has been adjusted
3) On 22 April 2025, a reverse share split was carried out. The number of shares and the share price in the comparison period, and the key figures calculated from them have been adjusted accordingly.
 

ANALYST AND PRESS MEETING

Glaston’s CEO Miika Äppelqvist and CFO Magnus Sjöblom will present the financial result to analysts, investors and media representatives today at 11:00 (Finnish time) in English.

The webcast can be accessed through the link: Glaston January-September 2026 Interim Report. 

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 Miika Äppelqvist, tel. +358 10 500 500
Chief Financial Officer Magnus Sjöblom, tel. +358 10 500 500

GLASTON CORPORATION
Agneta Selroos
Communications Manager
Tel. +358 10 500 6105


Glaston in brief
Glaston is the glass processing industry’s innovative technology leader supplying equipment, services and solutions to the architectural, mobility, display and solar 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 nine countries and its shares (GLA1V) are listed on Nasdaq Helsinki Ltd.

Distribution: Nasdaq Helsinki Ltd, key media, www.glaston.net.

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» Glaston Interim Report January-September 2026