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Glaston Corporation publishes comparable financial information for its re-organized reporting segments

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GLASTON OYJ ABP     Stock Exchange release 18.3.2021 at 9.00

In January 2020, Glaston announced its new group structure with business areas Glaston Heat Treament Technologies, Glaston Insulating Glass Technologies and Glaston Automotive & Emerging Technologies.

As of 1 January 2021, the Emerging Technologies operations have been re-organized and are part of the regional sales structure. As of the same date Glaston’s business areas are Glaston Heat Treatment Technologies, Glaston Insulating Glass Technologies and Glaston Automotive & Display Technologies.

The company’s reporting segments consist of each business area together with its respective service business. Depending on the technology focus in question, the Emerging Technologies projects are reported in Heat Treatment Technologies, Insulating Glass Technologies or Automotive & Display Technologies. As a result of this change, single projects from 2020 as well as a small amount of fixed costs earlier reported in Automotive & Emerging Technologies segment are transferred to the Heat Treatment segment. The effect on order book, net sales and EBIT reported for the segments in 2020 is therefore minor.

Unaudited comparable 2020 quarterly and full year financial information for the new reporting segments and product areas is presented below.
 

GLASTON 2020 COMPARABLE FIGURES - QUARTERLY SEGMENT INFORMATION 
 

Orders received
EUR million 1-3/2020 4-6/2020 7-9/2020 10-12/2020 1-12/2020
Heat Treatment 19.7 8.7 7.6 20.7 56.1
Insulating Glass 21.2 11.5 21.6 22.2 75.7
Automotive & Display 4.2 3.6 3.8 8.8 20.2
Total segments 45.2 23.8 33.1 51.6 152.1
Unallocated and eliminations  0.5 0.2 0.3 0.5 1.4
Total Glaston Group 45.6 24.0 33.3 52.1 153.5
Order book
EUR million 31.3.2020 30.6.2020 30.9.2020 31.12.2020
Heat Treatment 36.2 29.5 26.7 31.4
Insulating Glass 29.7 15.7 18.9 26.1
Automotive & Display 10.0 3.7 2.1 6.5
Total segments 75.9 48.9 47.6 63.9
Unallocated and eliminations  0.6 0.2 0.2 0.0
Total Glaston Group 76.4 49.1 47.8 63.9
Net sales
EUR million 1-3/2020 4-6/2020 7-9/2020 10-12/2020 1-12/2020
Heat Treatment 19.3   15.1   12.6   14.9   61.6  
Insulating Glass 22.4   24.1      17.4   18.0     81.9  
Automotive & Display   4.2    9.5   5.7   4.9   24.6  
Total segments 46.0   48.7   35.6   37.9   168.2  
Unallocated and eliminations    1.0     0.2   0.3   0.4      1.9  
Total Glaston Group 46.9    48.9   35.9   38.3   170.1  
Comparable EBITA
EUR million 1-3/2020 4-6/2020 7-9/2020 10-12/2020 1-12/2020
Heat Treatment 0.6   0.5   0.2   0.8   2.0  
Insulating Glass 2.4   2.0   1.2   1.6   7.3  
Automotive & Display -1.0   - 0.1   - 0.0   - 0.5   - 1.6  
Total segments 2.0   2.4   1.4   1.9   7.6  
Unallocated and eliminations  0.1   - 0.0   - 0.1   0.1   0.1  
Total Glaston Group 2.0   2.3   1.3   2.1   7.7  
Comparable EBIT
EUR million 1-3/2020 4-6/2020 7-9/2020 10-12/2020 1-12/2020
Heat Treatment 0.2   0.1   - 0.3   0.4   0.4  
Insulating Glass 1.9   1.5   0.7   1.1   5.2  
Automotive & Display -1.2   -0.3   -0.2   -0.7   -2.5  
Total segments 0.9   1.2   0.2   0.8   3.1  
Unallocated and eliminations  0.1   -0.0   -0.1   0.1   0.1  
Total Glaston Group 0.9   1.2   0.2   0.9   3.2  
Operating result (EBIT)
EUR million 1-3/2020 4-6/2020 7-9/2020 10-12/2020 1-12/2020
Heat Treatment -0.1   -0.0   -0.5   -0.6   -1.2  
Insulating Glass 1.4   1.0   0.4   0.7   3.6  
Automotive & Display -1.3   -0.4   -0.4   -0.9   -3.0  
Total segments  0.1   0.6   -0.5   -0.8   -0.6  
Unallocated and eliminations  0.1   -0.0   -0.0   0.1 0.1  
Total Glaston Group 0.1   0.6   -0.5   -0.7   -0.5  
Orders received by product area
EUR million 1-3/2020 4-6/2020 7-9/2020 10-12/2020 1-12/2020
Heat Treatment Technologies 13.2   5.4      2.5   13.9   34.1  
Insulating Glass Technologies  15.8   6.7    15.7   15.9   56.3  
Automotive & Display Technologies 0.7   1.7   0.7   4.5   7.3  
Services 15.5   9.9   14.2   17.4   57.1  
Unallocated and eliminations  0.5    0.2   0.3    0.5   1.4  
Total Glaston Group 45.6 24.0 33.3          52.1     153.5  
Order book by product area
EUR million 31.3.2020 30.6.2020 30.9.2020 31.12.2020
Heat Treatment Technologies          32.5      27.7   23.3   26.6  
Insulating Glass Technologies             29.7   15.7      18.9   26.1  
Automotive & Display Technologies              9.5    3.7   2.1        6.5  
Services         4.1    1.8   3.3   4.7  
Unallocated and eliminations           0.6     0.2   0.2   0.0  
Total Glaston Group 76.4   49.1   47.8   63.9  
Net sales by product area
EUR million 1-3/2020 4-6/2020 7-9/2020 10-12/2020 1-12/2020
Heat Treatment Technologies 12.5   10.8   8.4   8.6   40.2  
Insulating Glass Technologies 17.1   19.4   11.8   12.1   60.3  
Automotive & Display Technologies 0.8   7.8   2.8   1.1   12.5  
Services 16.5   11.2   13.3   17.1   58.1  
Unallocated and eliminations  0.1   - 0.2   - 0.2   - 0.5   - 0.9  
Total Glaston Group 46.9   48.9   35.9   38.3   170.1  
 

For further information, please contact:
Chief Financial Officer Päivi Lindqvist, tel. +358 10 500 500

Glaston Corporation
Pia Posio
VP, IR, Communications and Marketing
Tel. +358 10 500 500

 

Glaston in brief
Glaston is the glass processing industry’s innovative technology leader supplying equipment, services and solutions to the architectural, automotive, solar and appliance industries. The company also supports the development of new technologies integrating intelligence to glass.

Glaston is committed to providing its clients with both the best know-how and the latest technologies in glass processing, with the purpose of building a better tomorrow through safer, smarter, and more energy efficient glass solutions. Glaston operates globally with manufacturing, services and sales offices in 10 countries and its shares (GLA1V) are listed on NASDAQ Helsinki Ltd.

Distribution: Nasdaq Helsinki Ltd, key media, www.glaston.net.

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