Glaston’s Half-Year financial report January─June 2022

The company reports solid progress in the second quarter despite challenging environment

Glaston Corporation has released its Half-Year January-June 2022 financial report.

April–June 2022 in brief
• Orders received totalled EUR 56.2 (down from EUR 64.5 during the same period in 2021) million
• Net sales totalled EUR 53.5 (43.3) million
• Comparable EBITA was EUR 3.5 (2.4) million, i.e. 6.6 (5.5) percent of net sales
• The operating result (EBIT) was EUR 1.8 (1.6) million
• Comparable earnings per share were EUR 0.019 (0.009)

January─June 2022 in brief
• Orders received totalled EUR 115.2 (111.7) million
• Net sales totalled EUR 105.8 (83.7) million
• Comparable EBITA was EUR 7.0 (4.4) million, i.e. 6.6 (5.3) percent of net sales
• The operating result (EBIT) was EUR 4.0 (1.7) million
• Comparable earnings per share were EUR 0.042 (0.018)

Glaston specifies outlook for 2022
During the first half of 2022, the overall demand in most of Glaston’s markets remained strong, indicating good development for machines and services businesses. In 2022, Glaston’s net sales and profitability development are supported by the solid order backlog at the beginning of the year as well as healthy order intake during the first half of 2022. Costs and capital expenditure related to the execution of the refined Group strategy, announced in August 2021, will occur ahead of the effect on revenue growth.

Currently, higher than usual uncertainty is related to the development of global economic activity and customers’ investments. The uncertainty is driven by, in particular, the supply chain disturbances, which have become a longer-term challenge, and the Russian attack on Ukraine with its implications for energy and raw material prices. The impacts of the still ongoing COVID-19 pandemic add to the uncertainty, especially in China.

Despite the prevailing uncertainties, Glaston Corporation estimates that its net sales will increase in 2022 from the levels reported for 2021 and specifies its outlook for comparable EBITA, which is estimated to increase to EUR 12−15 million. In 2021, Group net sales totalled EUR 182.7 million and comparable EBITA was EUR 11.1 million.

To read the Full Report click here.