Glaston Oyj Abp: Glaston Interim Report 1 January-30 June 2013

Glaston adjusts its outlook for 2013. We expect 2013 net sales to be on the 2012 level and both the EBIT excluding non-recurring items and EBIT to be positive. (Earlier forecast: Glaston expects 2013 net sales to be on the 2012 level and EBIT to be positive.)  

President & CEO Arto Metsänen: “Despite market uncertainty, Glaston’s second quarter went according to our expectations.

Glaston’s net sales in the review period totalled EUR 60.1 million, slightly higher than the previous year. Glaston’s machine sales in Asia exceeded expectations. The North American market was rather buoyant. In the EMEA area, our sales were at the previous year’s level, with the focus of orders being in the Central Europe and in the United Kingdom. In the Middle Eastern market, there was clear growth in activity, but the political uncertainty has slowed decision-making. We expect the positive development of the heat treatment machine market to continue also during the latter part of the year.

With respect to the Services segment, it is notable that, after a challenging first quarter, sales picked up in the second quarter and the segment’s operating profit rose by 20% compared with the previous year.

Now that our financial position has been strengthened, Glaston’s main goal for 2013 is a positive operating result. The January-June operating result, excluding non-recurring items, was EUR 0.7 million. The second-quarter operating result, excluding non-recurring items, was a profit of EUR 1.1 million, with the comparison figure being a EUR 2.7 million loss. I am particularly satisfied that the impact of the adjustment programme implemented at the end of last year is now fully realised in the result.”