Slide 1: Glaston's half-year financial report January-June 2018
Glaston’s half-year financial report January-June 2018 9 August 2018
Slide 2: Q2 in brief
Q2 in brief ▪ Glass processing market was fairly lively and Orders received: Machines business orders grew by 9% EUR 25.4 million, -4% ▪ Services order intake was down 21%, mainly due to a strong comparison period and a decline in pre- processing machine business Net sales: ▪ Machines business order
Slide 3: Operating environment Q2
Operating environment Q2 ▪ In the EMEA area, demand for machines remained high. Development was most 40 positive in Central and Eastern Europe ▪ In the North American market, demand picked up significantly towards the end of the second quarter 20 ▪ The South American market remained subdued ▪ In the
Slide 4: Q2 net sales
Q2 net sales Net sales adversely impacted by lower number and value of deliveries and a strong comparison period Taking into account sale of USA and Canada pre- processing machine business, net sales fell by 8% 26.3 30.1 34.3 32.6 29.4 22.1 20.5 35.1 26.6 28.9 24.5 29.7 24.8 25.6 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 5: Q2 comparable operating profit
Q2 comparable operating profit Lower net sales and margins in Machines business impacted operating profit 8% 7% 6% 5% 5% 5% 4% 4% 4% 3% 2% 2% 1.2 1.7 2.5 0.6 0.7 2.7 1.1 1.5 1.0 1.4 1.0 0.8 -0.4 -0.3 -1% -2% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2015 2016 2017 2018 EBIT, M€ EBIT% 2015 and 2016 d
Slide 6: Order book
Order book Growth 3% from previous year 52.8 56.0 47.8 38.5 34.5 40.9 46.0 45.6 39.8 36.1 37.5 34.1 36.0 37.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 M€ 2015 2016 2017 2018 2015 and 2016 data not restated in accordance with IFRS 15 revenue recognition standard
Slide 7: Machines Q2
Machines Q2 20,0 ▪ Machines business market was fairly lively, and particularly in the EMEA area demand continued to be strong ▪ In North America, demand picked up significantly towards the end of the second quarter 10,0 ▪ In Asia, the market remained reasonably active ▪ Machines business order inta
Slide 8: Services Q2
Services Q2 ▪ In the Services market, the quarter remained relatively quiet. Demand for upgrades fell short of Q1’s very good level. In North America, demand continued at a good level, however ▪ Demand for the ProL-zone laminating line upgrade 10,0 product continued to be good. Deals were closed for
Slide 9: Digital and IoT-based products at forefront of product development
Digital and IoT-based products at forefront of product development ▪ Good progress in digitalisation-related projects ▪ Glaston’s was admitted to national MIDAS project, which is Finland’s first industry-oriented machine-learning project, led by the DIMECC innovation platform ▪ Glaston is one of the
Slide 10: Emerging Technologies – driver of Glaston's growth
Emerging Technologies – driver of Glaston’s growth ▪ Glaston established the Emerging Technologies unit at the beginning of 2017. The unit offers engineering and consulting services in the field of emerging glass technologies ▪ During Q2, negotiations on new special projects continued. Nearly ten pe
Slide 11: Net sales by area
Net sales by area EMEA accounted for 54% of net sales 55.5 50.3 21.5 11.1 12.0 7.6 26.4 27.3 EMEA Asia America 1-6/2017 1-6/2018 M€ M€
Slide 12: Net debt
Net debt Net debt almost unchanged despite capital repayment 6.1 5.2 7.4 10.9 11.4 7.7 3.0 5.9 8.2 0.9 7.7 8.2 -0.6 -1.2 M€ Q1/2015 Q2/2015 Q3/2015 Q4/2015 Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018
Slide 13: Outlook unchanged
Outlook unchanged ▪ Order intake in the early part of the year and positive market development create good conditions for profitable growth in 2018. Due to weighting of order intake towards second half of the year, the operating profit for the final quarter of the year is expected to be significantl
Slide 14: Key figures by quarter
Key figures by quarter Q2/2018 Q2/2017 2017 Order book 37.3 36.1 34.1 Orders received 25.4 26.6 103.7 Net sales 25.6 28.9 109.7 Comparable operating profit (EBIT) 0.8 1.5 5.0 Comparable operating profit (EBIT), % net sales 3.1 5.1 4.6 Return on capital employed, %, annualised 6.5 9.5 9.2 Equity rati
Slide 15: Flat glass market expected to grow to USD 86 billion by 2021
Flat glass market expected to grow to USD 86 billion by 2021 Estimated geographical distribution of 15 15 glass market in 2021 10 10 NAME Western Europe 5 4 5 2 APAC 0 0 Middle and South America 0 Western Eastern Eastern Europe NAME Europe Europe Africa and Middle East 50 45 40 Global glass market 3
Slide 16: Growth of glass use will create demand for Glaston, a glass industry frontrunner
Growth of glass use will create demand for Glaston, a glass industry frontrunner
Slide 17: www.glaston.net
www.glaston.net