Inside information: Glaston - the scope of a significant order changes and order book is reduced, outlook unchanged

GLASTON CORPORATION     INSIDE INFORMATION     21 June 2023 at 18.00

On 12 August 2022, Glaston announced that the company had received a strategically important order from a glass processor in Europe for multiple insulating glass lines, MULTI’ARRISSERs and machines for spacer frame production, with a total value of approximately EUR 31 million. The deliveries were to take place between Q2/2023 and Q3/2025.

Due to the customer’s decision to review part of their investment, there have been changes to the scope and schedule of the project. The later phases of the order will be cancelled, affecting the deliveries that were scheduled for 2024–2025.

In 2023, Glaston will deliver equipment to the customer valued at around EUR 11,3 million while approximately EUR 19,4 million are removed from Glaston’s order book. Glaston does not expect any significant impact on the net sales or operating profit from the partial cancellation in 2023 due to the deliveries being scheduled for 2024−2025 and the good capacity utilization at the Neuhausen factory.

Glaston’s outlook for 2023 remains unchanged and, as communicated in the Q1/2023 interim report, the company estimates that its net sales and comparable EBITA will improve in 2023 from the levels reported for 2022.

For further information:
Anders Dahlblom, President & CEO, tel. +358 10 500 500
Päivi Lindqvist, Chief Financial Officer, tel. +358 10 500 500

Press and investor inquiries:
Pia Posio, VP Communications, Marketing and IR, tel +358 500 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 nine countries and its shares (GLA1V) are listed on Nasdaq Helsinki Ltd.

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