JANUARY-MARCH 2017

• Orders received totalled EUR 21.6 (25.0) million.
• Order book at end of March grew by 31% to EUR 45.1 (34.5) million.
• Net sales declined to EUR 22.8 (29.4) million.
• Comparable EBITDA was EUR 0.8 (1.4) million, i.e. 3.5 (4.7)% of net sales.
• The comparable operating result was EUR 0.0 (0.7) million, i.e. 0.1 (2.4)% of net sales.
• Return on capital employed (ROCE) was 0.5 (6.0)%
• Earnings per share were EUR -0.00 (0.00)
• Net interest-bearing debt amounted to EUR 3.0 (10.9) million.

GLASTON’S OUTLOOK UNCHANGED
Glaston’s outlook remains unchanged. We expect the full-year comparable operating result to improve from 2016. (In 2016 the comparable operating result was EUR 2.8 million.)

PRESIDENT & CEO ARTO METSÄNEN
“In the first quarter, the glass processing market was quiet and the number of new orders was relatively low. The large number of orders in the final quarter of the previous year also affected the order intake in the early part of the year. In addition, as customers’ decision-making times lengthened, a number of service and machine deals were postponed in the first quarter until the current quarter.

Due to the low number of deliveries, January-March net sales were low and totalled EUR 22.8 million. The comparable operating result was EUR 0.0 (0.7) million. The order book was at a good level, EUR 45.1 million, up 31% from the corresponding period of the previous year. This creates a good foundation for rest of the year.

The anticipated quiet first quarter does not change our assessment of the year as a whole. Conditions for operational development and profitable growth are good. Our short-term focus is on new orders and ensuring a first-class customer experience.

As a pioneer in our field, we want to be involved in developing the glass technologies of the future. In emerging glass technologies, we are actively seeking new business opportunities, because we expect this market to grow strongly in the next few years. To support our growth objective, we established the Emerging Technologies unit in January. This brings clarity to our operating model and distinguishes us from our competitors. Our investment in a Californian nanotechnology company is part of the Emerging Technologies unit’s activities. In the nanotechnology project, the development work of a pilot line progressed. In addition to this project, we are actively engaged in discussions with a number of companies on the development of new glass technologies and their practical application.”

KEY FIGURES