Glaston updates its strategy and financial targets and announces updated dividend policy
Glaston updates its strategy and financial targets and announces updated dividend policy
Glaston’s Board of Directors has confirmed the company’s new strategic priorities and financial targets for the period 2016–2018. Glaston is moving to a new strategic phase. The cornerstones are growth, technology leadership and the industry’s best customer experience.
Glaston aims to be its industry’s leading pioneer, whose identifying characteristics are technology leadership and high quality. Glaston’s core expertise is in flat tempering technology. Through its continuous product development and regularly renewed product offering, Glaston will further strengthen its position and competitiveness in the market as well as in new machine sales and services. The growth target will be supported by growing demand for architectural glass.
To support its core business, Glaston will seek growth opportunities not only in flat tempering technology but also in other safety glass groups, such as bending, tempering-bending and laminating. Innovative glass technologies and digitalisation will bring significant new business opportunities to Glaston.
An extensive and increasing installed machine base creates the foundation for growth in services.
Financial targets
Glaston expects the glass machine market to grow at around 3-5% per year up to 2018.
Glaston’s financial objectives for the period 2016–2018 are:
- Annual growth of net sales exceeding market growth (CAGR)
- Operating profit margin (EBIT) above 8%, excluding non-recurring items, at the end of the period
- Return on capital employed (ROCE) of more than 20% at the end of the period
Dividend policy
Glaston’s Board of Directors adopted an updated dividend policy according to which the objective is to distribute annually a dividend or return of capital amounting to 30-50% of the company’s earnings per share, excluding non-recurring items.
When determining the amounts and dates of payment of any future dividends or returns of capital the Board of Directors always takes the company’s financial position and future outlook into consideration. In addition, the dividend policy takes into account growth targets in line with strategy as well as financing requirements for growth.
Further information: President & CEO Arto Metsänen, tel. +358 10 500 500
GLASTON CORPORATION
Agneta Selroos
Communications Director
Glaston Corporation
Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our product 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. Further information is available at www.glaston.net Glaston’s share (GLA1V) is listed on NASDAQ Helsinki Ltd's Small Cap List.
Distribution: NASDAQ Helsinki Ltd, key media, www.glaston.net