Slide 1: Glaston Q1 & January–March 2019
Glaston Q1 & January–March 2019 29 April 2019 Glaston Corporation Q1 and 1-3/2019
Slide 2: Q1/19: Net sales and EBIT declined as expected
Q1/19: Net sales and EBIT declined as expected ▪ Orders received totaled MEUR 22.9 (26.5, taking into account divested business operations* 25.5). ▪ Net sales totaled MEUR 20.8 (24.8, taking into account divested business operations* 23.7). ▪ The comparable operating result was MEUR 0.1 (1.1), i.e.
Slide 3: Highlights during and after the review period
Highlights during and after the review period ▪ Glaston agreed on historic acquisition: Bystronic glass, a global provider of high quality machinery, systems and services for glass processing acquired for an enterprise value of EUR 68 million. ▪ Reverse split in a ratio of 5:1 conducted. ▪ Glaston i
Slide 4: Changes in number of shares
Changes in number of shares 193,633,135 7,407,405 - 157,760 38,726,627 45,976,316 Nr of shares before split Nr of shares after split Directed share issue Cancellation of shares Nr. of shares after 9 April Glaston Corporation Q1 and 1-3/2019
Slide 5: Changes in Executive Management Group as of 1 April
Changes in Executive Management Group as of 1 April 2019 CEO Arto Metsänen Glaston technologies Bystronic glass COO CFO Juha Liettyä * Burghard Schneider Sasu Koivumäki Päivi Lindqvist New Sales & Services organization * As of 1 May 2019 Glaston Corporation Q1 and 1-3/2019
Slide 6: Market development Q1
Market development Q1 ▪ Eurozone growth forecast for 2019 lowered. Brexit confusion and general world trade tensions increased uncertainty. ▪ Confidence in the US economic outlook continued to be strong in the first quarter, Demand in Glaston’s market, and its customers’ willingness to invest clearl
Slide 7: Q1/19 order intake
Q1/19 order intake ▪ Q1/19 order intake was MEUR 22.9 (26.5, taking into account divested business operations 25.5). ▪ Machines orders decreased 21% and totaled MEUR 14.1 35 33,9 (18.0). M€ 30 28,8 ▪ Biggest orders received from US, Bulgaria, Poland 26,6 26,8 26,5 25,4 and Qatar. 25 22,9 21,6 21,7 ▪
Slide 8: End of March 2019 orderbook grew 19%
End of March 2019 orderbook grew 19% ▪ Orderbook totaled MEUR 42.8 (36.0) at the end of the period, a growth of 19% ▪ Machines orderbook grew 24 % and totaled MEUR 39.7 (32.0). M€ Orderbook 31 March 50 42.8 ▪ Services orderbook decreased 23% and totaled 40 36.0 MEUR 3.1 (4.0). 30 20 10 0 2019 2018 M
Slide 9: Q1/19: Net sales 20.8 MEUR
Q1/19: Net sales 20.8 MEUR ▪ Q1/19 Net sales declined 16% and totaled MEUR 20.8 (24.8, taking into account divested business operations 23.7). Taking into account the 2018 sale of the Tools business, the M€ 35,0 decline was 12%. 28,9 29,7 30,0 27,8 26,6 ▪ Net sales of the Machines business totaled 2
Slide 10: Net sales by region Q1/19
Net sales by region Q1/19 38% 45% 8,0 9,4 3,4 16% EMEA Asia Americas Glaston Corporation Q1 and 1-3/2019
Slide 11: Q1 comparable EBIT weakened
Q1 comparable EBIT weakened • The lower operating result is primarily explained by the lower net sales of the Machines business. The 8,8 % impact was eased by growth in net sales of services related to heat treatment machines, improved gross margins for the entire heat treatment business, and the sa
Slide 12: Interest bearing net debt decreased substantially
Interest bearing net debt decreased substantialy M€ 20 19,3 • Good cash flow contributed to net debt 18,1 18 17,7 decrease. 16 • Subscriptions paid for the directed share issue 14 13,9 MEUR 4.9 affected net debt positively 12 • Net gearing was 16.8 (48.5)%. 10 • IFRS 16 Leases, adopted at the beginn
Slide 13: New long-term finance agreement
New long-term finance agreement ▪ In connection with the Bystronic acquisition, Glaston signed a new long-term financing agreement, which will be used for financing the transaction, refinancing Glaston’s existing loan facilities as well as general working capital and guarantee needs. ▪ The package c
Slide 14: Glaston's outlook for 2019
Glaston’s outlook for 2019 ▪ Bystronic glass will be consolidated as part of Glaston Corporation from 1 April 2019 and consequently, Glaston will have two reporting segments: Glaston and Bystronic glass. The Company estimates the acquisition to be earnings enhancing, also in terms of comparable earn
Slide 15: 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 Q1 and 1-3/2019