GLASTON’S NEW SEGMENTS
GLASTON CORPORATION Stock Exchange Release 11.4.2014 at 12.00
GLASTON’S NEW SEGMENTS
To enable a more efficient customer service Glaston announced in December 2013 that it transfers the sales and manufacturing of tools from the Machines segment to the Services segment on 1 January 2014.
Glaston’s reportable segments are Machines and Services.
The Machines segment is divided into two operating segments: Heat Treatment, which comprises manufacturing and sale of glass tempering, bending and laminating machines and Pre-processing, which comprises manufacturing and sale of glass pre-processing machines.
The Services segment includes maintenance and service of glass processing machines and sale of spare parts and upgrades as well as sale and manufacturing of tools.
The company’s internal and external reporting has been changed from the beginning of 2014 to reflect the new segment structure. The information in accordance of Glaston's new segments are presented in the tables below. Glaston's January - March interim report, that is published on 23 April 2014, will be reported in accordance with the new segment structure.
| SEGMENTS | ||||
| CONTINUING OPERATIONS | ||||
| Machines | ||||
| EUR million | 1-3/ 2013 | 1-6/ 2013 | 1-9/ 2013 | 1-12/ 2013 |
| External sales | 17,0 | 41,3 | 58,3 | 84,2 |
| Intersegment sales | 0,0 | 0,0 | 0,0 | 0,0 |
| Net sales | 17,0 | 41,3 | 58,3 | 84,3 |
| EBIT excluding non-recurring items | -0,4 | 0,8 | 0,7 | 2,4 |
| EBIT-%, excl. non-recurring items | -2,3 | 2,0 | 1,2 | 2,9 |
| Non-recurring items | 0,0 | 0,0 | 0,0 | 0,0 |
| EBIT | -0,4 | 0,8 | 0,7 | 2,4 |
| EBIT-% | -2,3 | 2,0 | 1,2 | 2,9 |
| Net working capital | 22,3 | 20,6 | 19,7 | 17,1 |
| Number of personnel, average | 345 | 348 | 347 | 346 |
| Number of personnel, end of period | 351 | 345 | 344 | 343 |
| Services | ||||
| EUR million | 1-3/ 2013 | 1-6/ 2013 | 1-9/ 2013 | 1-12 /2013 |
| External sales | 9,4 | 18,1 | 27,5 | 37,3 |
| Intersegment sales | 0,5 | 0,7 | 1,0 | 1,3 |
| Net sales | 9,8 | 18,8 | 28,5 | 38,6 |
| EBIT excluding non-recurring items | 1,2 | 2,2 | 3,6 | 5,2 |
| EBIT-%, excl. non-recurring items | 12,4 | 11,8 | 12,5 | 13,4 |
| Non-recurring items | 0,0 | 0,0 | 0,0 | 0,0 |
| EBIT | 1,2 | 2,2 | 3,6 | 5,2 |
| EBIT-% | 12,4 | 11,8 | 12,5 | 13,4 |
| Net working capital | 28,8 | 31,9 | 30,8 | 30,1 |
| Number of personnel, average | 237 | 236 | 234 | 233 |
| Number of personnel, end of period | 237 | 235 | 229 | 227 |
| Glaston Group | ||||
| Net sales | ||||
| EUR million | 1-3/ 2013 | 1-6/ 2013 | 1-9/ 2013 | 1-12/ 2013 |
| Machines | 17,0 | 41,3 | 58,3 | 84,3 |
| Services | 9,8 | 18,8 | 28,5 | 38,6 |
| Other and intersegment sales | -0,4 | -0,1 | -0,4 | -0,6 |
| Glaston Group total | 26,4 | 60,1 | 86,4 | 122,2 |
| EBIT | ||||
| EUR million | 1-3/2013 | 1-6/2013 | 1-9/2013 | 1-12/2013 |
| Machines | -0,4 | 0,8 | 0,7 | 2,4 |
| Services | 1,2 | 2,2 | 3,6 | 5,2 |
| Other and eliminations | -1,2 | -2,3 | -4,0 | -5,5 |
| EBIT excluding non-recurring items | -0,4 | 0,7 | 0,3 | 2,1 |
| Non-recurring items | 3,7 | 3,8 | 3,7 | 3,7 |
| EBIT, continuing operations | 3,4 | 4,5 | 4,0 | 5,9 |
| Net financial items | 2,3 | 0,9 | 0,0 | -1,0 |
| Result before income taxes from continuing operations | 5,7 | 5,4 | 4,0 | 4,9 |
| Income taxes from continuing operations | -1,0 | -1,1 | -1,0 | -3,6 |
| Result from continuing operations | 4,7 | 4,3 | 3,0 | 1,3 |
| Net discontinued operations | 0,0 | 0,0 | 0,0 | 0,0 |
| Net result | 4,7 | 4,3 | 3,0 | 1,3 |
| Number of personnel, average | 592 | 595 | 593 | 590 |
| Number of personnel, end of period | 598 | 592 | 585 | 581 |
| Segment assets | ||||
| EUR million | 1-3/2013 | 1-6/2013 | 1-9/2013 | 1-12/2013 |
| Machines | 63,6 | 59,7 | 58,6 | 56,1 |
| Services | 40,1 | 39,4 | 38,2 | 37,8 |
| Total segments | 103,7 | 99,2 | 96,9 | 93,9 |
| Unallocated and eliminations and adjustments | 5,4 | 5,4 | 5,1 | 4,9 |
| Total segment assets | 109,1 | 104,6 | 101,9 | 98,8 |
| Other assets | 29,2 | 25,7 | 26,1 | 26,8 |
| Total assets | 138,3 | 130,2 | 128,0 | 125,6 |
| Segment liabilities | ||||
| EUR million | 1-3/2013 | 1-6/2013 | 1-9/2013 | 1-12/2013 |
| Machines | 41,3 | 39,2 | 39,0 | 39,0 |
| Services | 11,3 | 7,5 | 7,4 | 7,7 |
| Total segments | 52,6 | 46,7 | 46,4 | 46,7 |
| Unallocated and eliminations and adjustments | 2,0 | 1,9 | 1,9 | 1,9 |
| Total segment liabilities | 54,6 | 48,7 | 48,3 | 48,6 |
| Other liabilities | 30,1 | 27,9 | 27,3 | 26,3 |
| Total liabilities | 84,7 | 76,5 | 75,7 | 74,9 |
| Net working capital | ||||
| EUR million | 1-3/2013 | 1-6/2013 | 1-9/2013 | 1-12/2013 |
| Machines | 22,3 | 20,6 | 19,7 | 17,1 |
| Services | 28,8 | 31,9 | 30,8 | 30,1 |
| Total segments | 51,1 | 52,5 | 50,5 | 47,2 |
| Unallocated and eliminations and adjustments | 3,4 | 3,4 | 3,1 | 2,9 |
| Total Glaston Group | 54,5 | 55,9 | 53,6 | 50,2 |
| SEGMENTS BY QUARTERS | ||||
| Continuing operations | ||||
| Machines | ||||
| EUR million | 10-12/2013 | 7-9/2013 | 4-6/2013 | 1-3/2013 |
| External sales | 26,0 | 16,9 | 24,3 | 17,0 |
| Intersegment sales | 0,0 | 0,0 | 0,0 | 0,0 |
| Net sales | 26,0 | 16,9 | 24,3 | 17,0 |
| EBIT excluding non-recurring items | 1,8 | -0,1 | 1,2 | -0,4 |
| EBIT-%, excl. non-recurring items | 6,8 | -0,9 | 5,0 | -2,3 |
| Non-recurring items | 0,0 | 0,0 | 0,0 | 0,0 |
| EBIT | 1,8 | -0,1 | 1,2 | -0,4 |
| EBIT-% | 6,8 | -0,9 | 5,0 | -2,3 |
| Services | ||||
| EUR million | 10-12/2013 | 7-9/2013 | 4-6/2013 | 1-3/2013 |
| External sales | 9,8 | 9,4 | 8,8 | 9,4 |
| Intersegment sales | 0,3 | 0,3 | 0,3 | 0,5 |
| Net sales | 10,1 | 9,6 | 9,0 | 9,8 |
| EBIT excluding non-recurring items | 1,6 | 1,3 | 1,0 | 1,2 |
| EBIT-%, excl. non-recurring items | 16,1 | 13,9 | 11,2 | 12,4 |
| Non-recurring items | - | - | - | 0,0 |
| EBIT | 1,6 | 1,3 | 1,0 | 1,2 |
| EBIT-% | 16,1 | 13,9 | 11,2 | 12,4 |
| Net sales | ||||
| EUR million | 10-12/2013 | 7-9/2013 | 4-6/2013 | 1-3/2013 |
| Machines | 26,0 | 16,9 | 24,3 | 17,0 |
| Services | 10,1 | 9,6 | 9,0 | 9,8 |
| Other and intersegment sales | -0,2 | -0,3 | 0,3 | -0,4 |
| Glaston Group total | 35,9 | 26,3 | 33,7 | 26,4 |
| EBIT | ||||
| EUR million | 10-12/2013 | 7-9/2013 | 4-6/2013 | 1-3/2013 |
| Machines | 1,8 | -0,1 | 1,2 | -0,4 |
| Services | 1,6 | 1,3 | 1,0 | 1,2 |
| Other and eliminations | -1,5 | -1,6 | -1,2 | -1,2 |
| EBIT excluding non-recurring items | 1,9 | -0,4 | 1,1 | -0,4 |
| Non-recurring items | 0,0 | 0,0 | 0,0 | 3,7 |
| EBIT | 1,9 | -0,4 | 1,1 | 3,4 |
| Order book (continuing operations) | 31.12.2013 | 30.9.2013 | 30.6.2013 | 31.3.2013 |
| Machines | 38,0 | 40,0 | 32,2 | 37,8 |
| Services | 1,1 | 2,0 | 1,6 | 1,6 |
| Total Glaston Group | 39,1 | 42,0 | 33,8 | 39,4 |
| Order intake (continuing operations) | ||||
| EUR million | 1-3/2013 | 1-6/2013 | 1-9/2013 | 1-12/2013 |
| Machines | 19,2 | 37,5 | 62,0 | 86,2 |
| Services | 9,6 | 18,3 | 28,0 | 37,1 |
| Total Glaston Group | 28,8 | 55,8 | 90,0 | 123,3 |
| Order intake (continuing operations) | ||||
| EUR million | 10-12/2013 | 7-9/2013 | 4-6/2013 | 1-3/2013 |
| Machines | 24,1 | 24,5 | 18,2 | 19,2 |
| Services | 9,2 | 9,7 | 8,7 | 9,6 |
| Total Glaston Group | 33,3 | 34,2 | 26,9 | 28,8 |
For more information please contact Glaston Corporation, CFO, Sasu Koivumäki, phone +358 10 500 500.
Glaston Corporation
Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our portfolio ranges from pre-processing and safety glass machines to services. We are dedicated to our customers’ continued success and provide services for all glass processing needs with a lifecycle-long commitment in mind. For more information, please visit www.glaston.net. Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List.
Distribution: NASDAQ OMX Helsinki, key media, www.glaston.net