Slide 1: Glaston Q4 & January–December 2018
Glaston Q4 & January–December 2018 CEO Arto Metsänen & CFO Päivi Lindqvist 12 Feb. 2019 Glaston Corporation Q4 and 1-12/2018
Slide 2: Good fourth quarter 2018 development
Good fourth quarter 2018 development ▪ Orders received grew by 18% and totaled EUR 33.9 (28.8) million. ▪ Net sales totaled EUR 27.8 (29.7) million. ▪ Comparable EBITDA was EUR 3.2 (2.2) million, 11.5 (7.3)% of net sales. ▪ Operating profit was EUR 1.1 (1.2) million, 4.1 (4.1)% of net sales. ▪ Compa
Slide 3: 1-12/2018 in brief
1-12/2018 in brief ▪ Orders received totaled EUR 107.6 (103.7) million, +4%. ▪ The order book on 31 December 2018 was EUR 38.2 (34.1) million, +12%. ▪ Net sales totaled EUR 101.1 (109.7, taking into account sold business operations 106.7*) million. ▪ Comparable EBITDA was EUR 8.2 (8.0) million, 8.1
Slide 4: Q4 market development
Q4 market development ▪ Euro area growth weakened slightly towards the end of 2018. Trade policy tensions and the long- running and confusing Brexit situation further increased uncertainty. ▪ In Central Europe, and particularly in Germany and Austria, glass processing investment activity continued t
Slide 5: Q4/18: orders received record high
Q4/18: orders received record high ▪ Q4 record high order intake EUR 33.9 (28.8) million, +18%. ▪ Machines order intake grew +35% to EUR 26.6 M€ 33,9 (19.6) million. 35 30 28,8 ▪ The largest orders received from the USA, Poland, the 26,6 26,8 26,5 25,4 United Arab Emirates, Australia and New Zealand
Slide 6: 1-12/18: orders received and order book
1-12/18: orders received and order book ▪ Orders received grew to EUR 107.6 (103.7, M€ Orders received 1-12 taking into account sold business operations 120 102,2 107,6 100 102. 2) million. 80 ▪ Book-to-bill ratio 1.06 60 *2017 figures excluding 40 sold pre- ▪ At the end of the period Glaston’s orde
Slide 7: Q4/18: net sales 27.8 MEUR
Q4/18: net sales 27.8 MEUR ▪ Glaston’s Q4 net sales were EUR 27.8 (29.7) million, -6 % compared to previous year’s corresponding period. M€ ▪ Machines’ net sales decreased 10% to EUR 17.3 35,0 (19.2) million. 30,0 28,9 29,7 27,8 26,6 25,6 24,5 24,8 ▪ Services net sales at last year’s level EUR 11.0
Slide 8: 1-12/18: net sales 101.1 MEUR
1-12/18: net sales 101.1 MEUR ▪ January – December net sales decreased 8% and totaled EUR 101.1 (109.7, taking into account sold business operations 106,7) million. M€ Net sales 1-12 120 106,7 ▪ Machines’ net sales totaled EUR 65.2 (68.8) million. 101,1 ▪ Services net sales decreased 12% and totaled
Slide 9: Net sales by region Q4 and 1-12/18
Net sales by region Q4 and 1-12/18 Q4/18 1-12/18 27,8 (29,7) 101,1 (109,7) 27 (38)% 35 (41)% 51 (47) % 54 (47)% 27,7 (41,6) 9,6 (12,1) 14,1 (13,8) 54,3 (51,5) 19,2 (16,5) 4,1 (3,8) 15 (13)% 19 (15)% EMEA Asia Americas EMEA Asia Americas Glaston Corporation Q4 and 1-12/2018
Slide 10: Emerging Technologies: Glaston's growth driver
Emerging Technologies: Glaston’s growth driver • The GlastonAir™ tempering machine ordered in autumn 2017, was delivered to China during autumn 2018. Installation at the customer’s factory has begun and is expected to be completed by the end of the third quarter. • In the fourth quarter, test produc
Slide 11: Q4 comparable EBIT improved
Q4 comparable EBIT improved Record-high EBIT% 8.8% 8,8 % 5,1 % 4,8 % 4,1 % 4,1 % 4,0 % 4,2 % 3,1 % 1,1 1,5 1,0 1,4 1,0 0,8 1,0 2,5 Glaston Corporation Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 and 1-12/2018 2017 2018 EBIT, M€ EBIT% 11
Slide 12: Good cashflow from business operations improved net debt
Good cashflow from business operations improved net debt 6,1 5,2 7,4 10,9 11,4 7,7 3,0 5,9 8,2 0,9 7,7 8,2 9,8 4,9 -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 Q3/2018 Q4/2018 12
Slide 13: Events after the closing of the period
Events after the closing of the period Glaston Corporation Q4 and 1-12/2018
Slide 14: Glaston announced the signing of the Bystronic glass acquisition for EV EUR 68 Million
On 25 Jan. Glaston announced the signing of the Bystronic glass acquisition for EV EUR 68 Million 1 The acquisition is a response to market demand for efficiency, more demanding requirements for glass features, safety and quality as well as an increased focus on services. 2 Highly complementary comb
Slide 15: The company size will grow significantly
The company size will grow significantly M€ 217,0 214,3 205,2 109,7 113,2 107,1 107,3 98,1 101,1 Conzzeta AG will publish 2018 annual results, including Bystronic glass EBIT, on 20 March 2019 2016 2017 2018 Bystronic Glass Glaston B+G The figures for Bystronic glass have been converted into euros us
Slide 16: The combination of Glaston and Bystronic glass is expected to result in significant benefits
The combination of Glaston and Bystronic glass is expected to result in significant benefits for the stakeholders ▪ Synergies in services sales and cross-selling new equipment. ▪ Estimated annual cost synergies of approximately EUR 4 million, mainly in Cost of Goods Sold, sales & marketing and admin
Slide 17: Combining Glaston and Bystronic glass is the best thing that will happen this year
Glaston’s (and Bystronic’s) customer in January 2019: ”Combining Glaston and Bystronic glass is the best thing that will happen this year” Glaston Oyj Abp Q4 ja 1-12/2018
Slide 18: Next steps and financing of the transaction
Next steps and financing of the transaction Financing of the acquisition and future Glaston Group operations Next steps ▪ EGM to convene on 26 Feb 2019, to decide on 3 year maturity from the closing of the acquisition. reverse split, authorize the Board of Directors to 40 MEUR term loan To be used f
Slide 19: Glaston's outlook for 2019
Glaston’s outlook for 2019 ▪ The company’s business is seasonal and, historically, the first quarter of the year is generally the weakest and the fourth quarter the strongest. ▪ Net sales and comparable operating profit are expected to be low for the first quarter of 2019, due to the low number of n
Slide 20: Reverse share split
Reverse share split ▪ Glaston Corporation (“Glaston” or “Company”) plans to reduce the number of all shares in the Company through a reverse share split procedure so that each five (5) shares shall be merged as one (1) share. ▪ The Board of Directors of Glaston proposes the reverse share split to th
Slide 21: BOD proposal on the distribution of profits
BOD proposal on the distribution of profits ▪ The distributable funds of Glaston Corporation are EUR 14,294,804, of which EUR 24,344 represents the loss for the financial year. The company has no funds available for dividend distribution. ▪ The Board of Directors proposes to the Annual General Meeti
Slide 22: Thank you!
IR contact: Josephine.mickwitz@glaston.net Tel. +358 10 500 5070 Mob. +358 400 784 889 www.glaston.net Thank you! Glaston Corporation Q4 and 1-12/2018