Glaston ends 2016 on solid ground

  Company financial news

Glaston has released its financial statement for the year ended 31 December 2016, with Full-year net sales totalling EUR 107.1 million.

Glaston
Glaston ends 2016 on solid ground
Outlook for 2017
A higher order book than the previous year, positive market development and the cost-saving measures undertaken create good conditions for the development of operations in 2017. For the first quarter, a relatively small number of deliveries are scheduled, as a result of which the comparable operating result for the period is expected to be lower than the corresponding period a year earlier.
Glaston expects the full-year comparable operating result to improve from 2016. (In 2016 the comparable operating result was EUR 2.8 million.)

President & CEI Arto Metsänen commented on the results. “In the fourth quarter, the glass processing machine market picked up and, advancing cautiously, the year ended strongly. The best development was seen in the EMEA region, where new machine orders grew by 53% compared with the previous quarter.
Due to a large number of machine deliveries, October–December net sales grew by 8% from the previous year and totalled EUR 35.1 million. The comparable operating profit improved to EUR 2.7 (0.6) million, i.e. 7.8% of net sales. Earnings development was particularly influenced by increased net sales and cost-saving measures.
Full-year net sales totalled EUR 107.1 million and the comparable operating result was EUR 2.8 (6.1) million. Lower net sales than the previous year and cost overruns associated with customer projects reduced earnings. Cost-saving measures implemented during the year had a positive effect on earnings.

In spring we rene...


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