Glaston Oyj · OMXHEX:GLA1V
Glaston Oyj — FY2016 Earnings Presentation
16 slides from Glaston Oyj's earnings presentation, Feb 10, 2017
Slide 1: Glaston January-December 2016
Glaston January-December 2016 10 February 2017 Glaston Corporation
Slide 2: Q4 in brief
Q4 in brief • In the final quarter of the year, a clear pick- Orders received: up took place in the operating environment EUR 33.6 million, +39% • Machine orders increased 68% compared to the previous year Net sales: • Some 35% of the whole year’s upgrade and EUR 35.1 million, +8% modernisation orde
Slide 3: 2016 in brief
2016 in brief • Broad uncertainty in the markets Orders received: o Clear pick-up in the final quarter EUR 112.9 million, +5% • Net sales fell short of the previous year; comparable operating result was adversely Net sales: affected by lower net sales and challenges associated with some customer pro
Slide 4: Operating environment
Operating environment • North America and the EMEA area remained 60 the largest markets o In the EMEA area, the number of new orders grew by 53% compared with the previous quarter o In the North American market, customers’ decision- 40 making slowed in the latter part of the year • In South America,
Slide 5: Emerging Technologies
Emerging Technologies • In the beginning of 2017 Glaston established the Glaston Emerging Technologies unit • The unit offers consulting and planning services for smart glass and energy glass production as well as solar energy applications. The unit will also sell, supply and service the machines an
Slide 6: Digitalisation and IoT
Digitalisation and IoT Glaston Insight • In autumn, Glaston launched as the first in its field a service, which enables remote real-time monitoring of production. The service works on a mobile device as well as with an online connection • Glaston Insight provides information on, among other things,
Slide 7: Q4 net sales
Q4 net sales Up +8% compared to last year 20.1 31.1 21.9 36.6 26.3 30.1 34.3 32.6 29.4 22.1 20.5 35.1 Glaston Corporation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 M€ 2014 2015 2016 7
Slide 8: Q4 comparable EBIT
Q4 comparable EBIT Due to large number of deliveries good earnings development 8% 8% 7% 6% 6% 5% 5% 2% 2% 1.8 1.1 3.0 1.2 1.7 2.5 0.6 0.7 2.7 -0.3 -0,4 -0.4 -1% -2% -2% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Glaston Corporation 2014 2015 2016 EBIT, M€ EBIT% 8
Slide 9: Order book
Order book 18% higher than previous year 56.0 56.0 52.8 47.8 46.0 45.6 39.0 41.7 40.9 38.5 32.7 34.5 Glaston Corporation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 M€ 2014 2015 2016 9
Slide 10: Machines Q4
Machines Q4 • Markets picking up 40 • Strong order intake: EUR 22.4 million • Net sales grew 24% to EUR 24.1 million • Efficiency measures completed 20 o Factory in Brazil closed • Glaston strengthened its market position due to the new FC™ and RC™ flat 0 tempering lines Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q
Slide 11: Services Q4
Services Q4 20 • Services’ markets picked up in the final quarter • Good order intake; some 35% of the whole year’s upgrade and modernisation orders were received during the final quarter 10 • The order book grew by 57% compared to the previous year • Net sales down 13% o Net sales were adversely af
Slide 12: Net sales by region
Net sales by region Asia growing throughout the year, EMEA turned to positive in Q4 123.4 18.2 107.1 21.0 57.2 43.7 48.0 42.4 Glaston Corporation 1-12/2015 1-12/2016 M€ M€ EMEA Americas Asia 12
Slide 13: Cash flow from operating activities
Cash flow from operating activities Strong cash flow from operating activities due to the good result and a reduction in working capital 0.2 2.0 15.9 2.0 0.6 2.0 4.3 8.9 -1.5 -3.3 -2.3 -1.8 Glaston Corporation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 M€ 2014 2015 2016 13
Slide 14: Net debt
Net debt Strong cash flow resulted in negative net debt 57.7 8.6 10.9 11.4 6.1 5.2 7.4 7.7 Glaston Corporation M€ -5.0 -1.2 -0.6 2012 2013 2014 Q1/2015 Q2/2015 Q3/2015 Q4/2015 Q1/2016 Q2/2016 Q3/2016 Q4/2016 14
Slide 15: Outlook
Outlook • A higher order book than the previous year, positive market development and the cost-saving measures undertaken create good conditions for the development of operations in 2017. • For the first quarter, a relatively small number of deliveries are scheduled, as a result of which the compara
Slide 16: China Zun
China Zun • A hotel and office building located in Beijing, scheduled to be completed in 2018 • 528 meters tall with 108-storeys • Upon completion will be the tallest building in Beijing • Glaston’s customer SYP Group (Shanghai Yaohua Pilkington Glass Group Co., Ltd) delivers the facade Low-E coated