Page 40 - Glass-Technology International no. 3-2019

COMPANY UPDATE

competitive ecosystem in of combining Glaston and pected to begin during the
the market, benefiting the Bystronic glass. The aim is UPDATED FINANCIAL second quarter of 2019.
company’s customers and to develop a cohesive and TARGETS
improving their uptime and effective operating model • Annual growth of net *Flat glass market growth
operational efficiency. The for sales, service and op- sales exceeding market over the cycle.
company believes this dif- erations, capture synergy growth* (CAGR) **Calculation of key ratios:
ferentiates itself from the potential and continuously • Comparable operating Comparable EBITA ex-
competition and puts it in a improve the company’s per- margin (EBITA)** above cluding amortizations of
strong position to fulfil the formance. The first phase 8 per cent at the end purchase price allocations:
most demanding needs of of building the joint oper- of the strategy period. Result before amortization
its customers. ating model targets cost EBITA excludes amorti- of purchase price alloca-
synergies, cross-selling, zations of purchase price tions +/- items affecting
Key goals strengthening Glaston and allocations. comparability
• Grow the Services busi- Bystronic joint presence in • Comparable return Comparable return on
ness supported by digi- Asia and further developing on capital employed capital employed, per cent
talization. integrated line offerings for (ROCE)** of more than (Comparable ROCE):
relevant end markets. 14 per cent at the end of (Profit/loss before taxes +
JOINT OPERATING the period amortization of purchase
MODEL Key goals Glaston’s (without By- price allocations +/- items

The company’s strategic • Develop cohesive and ef- stronic glass) restated affecting comparability +
goals are supported by fective operating model comparable EBITA margin financial expenses x 100)/
a joint operating model for sales, service and op- for 2018 was 5.6 per cent (Equity + interest-bearing
which will assist in realizing erations. Realize full syn- and comparable return on liabilities, average of 1 Jan-
the full synergy potential ergy potential. capital employed 9.6 per uary and end of the report-
cent. Bystronic glass is ing period).
similar to Glaston in net
sales and EBITA margin.
The Bystronic glass acqui- Glaston Corporation
sition, and related financ-
ing increases Glaston’s eq-
uity and debt for a total of
about 80 million EUR and
the transaction will result
in a significant amount of Lönnrotinkatu 11
goodwill created. There- 00120 Helsinki - Finland
fore, the return on capital Tel.: +358 - 10 - 500500
employed (ROCE) devel- Fax: +358 - 10 - 5006190
E-mail: info@glaston.net
opment will be impacted www.glaston.net
by increasing capital em-
ployed during the strategy
period immediately follow-
G
Bystronic Glass G
ing the transaction. Bystronic Glass GmbH bH
Glaston plans to publish
Glaston’s and Bystronic
glass’ unaudited combined
financial information for
2018 and the first quarter
of 2019 at the latest in con-
nection with the planned
rights issue, which is ex- e care
Karl-Lenhardt-Strasse 1-9
D-75242 Neuhausen-Hamberg - Germany
Tel.: +49 - 7234 - 6010
Fax: +49 - 7234 - 1719
38 Glass-Technology International 3/2019 E-mail: bystronic@bystronic-glass.com
www.bystronic-glass.com