GLASTON HAS REVIEWED ITS STRATEGY AND UPDATED ITS FINANCIAL TARGETS AS A RESULT OF ITS BYSTRONIC GLASS ACQUISITION
Glaston has reviewed its strategy and updated its financial targets for the strategy period of 2018–2021 as a result of its acquisition of Bystronic glass.
The foundation of the strategy remains unchanged: we continue to seek growth in our core business and to win in services through digitalization. Combining the strengths of Bystronic glass and Glaston as well as leveraging the know-how Bystronic glass adds to our business provide us with unique opportunities to build a strong machinery and services offering. In addition, we have the ability to capture new growth opportunities. Implementing a joint operating model will support us in reaching our strategic goals and in realizing the full synergy potential of combining Glaston and Bystronic glass.
Our overall strategic goal remains unchanged: our ambition is to be the industry’s innovative technology leader, realizing our customers’ highest ambitions in glass.
Glaston’s purpose is to build a better tomorrow through safer, smarter and more energy-efficient glass solutions. The demand for environmentally sustainable and energy-efficient solutions, tightening safety standards as well as the growing visual and functional quality requirements of glass increasingly affect the way our customers operate as well as impact the specifications they require from their glass processing technology partners.
Our strategy is divided into four key themes:
- Growth in core
- New growth opportunities
- Joint operating model
Updated financial targets:
- Annual growth of net sales exceeding market growth* (CAGR)
- Comparable operating margin (EBITA)** above 8% at the end of the strategy period. EBITA excludes amortizations of purchase price allocations
- Comparable return on capital employed (ROCE)** of more than 14% at the end of the period
*Flat glass market growth over the cycle.
**Calculation of key ratios:
Comparable EBITA excluding amortizations of purchase price allocations:
Result before amortization of purchase price allocations +/- items affecting comparability
Comparable return on capital employed (Comparable ROCE), %:
(Profit / loss before taxes + amortization of purchase price allocations +/- items affecting comparability + financial expenses x 100) / (Equity + interest-bearing liabilities, average of 1 January and end of the reporting period)