Glaston’s financial statement bulletin January 1 to December 31, 2024: Steady development in comparable EBITA in soft market environment.
October–December 2024 in brief
- Orders received totalled EUR 53.1 (57.6) million
- Net sales totalled EUR 56.8 (59.7) million
- Comparable EBITA was EUR 4.2 (4.6) million, i.e. 7.5 (7.6) percent of net sales
- The operating result (EBIT) was EUR 0.6 (2.7) million
- Comparable earnings per share were EUR 0.025 (0.039)
January–December 2024 in brief
- Orders received totalled EUR 202.7 (220.3) million
- Net sales totalled EUR 217.9 (219.7) million
- Comparable EBITA was EUR 15.3 (14.9) million, i.e. 7.0 (6.8) percent of net sales
- The operating result (EBIT) was EUR 5.8 (8.1) million
- Comparable earnings per share were EUR 0.092 (0.104)
The Board of Directors proposes to the AGM a reverse share split (2:1) and a capital repayment of EUR 0.055 per current share (or EUR 0.11 per share calculated on the number of outstanding shares after the execution of the proposed reverse split)
Glaston’s outlook for 2025
In 2025, the glass processing equipment markets are expected to remain soft. The architectural market does not show signs of significant recovery for this year. For mobility glass processing equipment, the market activity in China is expected to remain good with high volatility in the short-term. Amid global economic uncertainty and continued geopolitical tensions, high uncertainty exists concerning customers’ decision-making.
Given the cautious market environment, the company’s growth opportunities arise from new product innovations, services, and upgrade products. Implemented and on-going structural cost-saving actions support profitability. Glaston Corporation estimates that its net sales will remain at the same level and comparable EBITA will stay at the same level or increase slightly in 2025 from the levels reported for 2024. In 2024, Group net sales totalled EUR 217.9 million and comparable EBITA was EUR 15.3 million.
The full report is available here.