Slide 1: Glaston Q4/2024: Steady development in comparable EBITA in soft market
February 14, 2025 Toni Laaksonen, CEO Päivi Lindqvist, CFO Glaston Q4/2024: Steady development in comparable EBITA in soft market
Slide 2: Content
Content Q4/2024 highlights Market review Financial development Outlook 2025
Slide 3: Q4 and Full-Year 2024 Highlights
Q4 AND FULL-YEAR 2024 HIGHLIGHTS
Slide 4: Q4 2024 highlights
Q4 2024 highlights • The Architectural glass markets remained slow • The Mobility market developed well, mainly in China • Order intake was down 8% due to weaker order intake in both segments • Net sales were EUR 56.8 million, down 5% • Comparable EBITA slightly behind comparison period, margin 7.5%
Slide 5: Full-year 2024 highlights
Full-year 2024 highlights • The Architectural market was soft throughout the year. In the Mobility market, demand for pre-processing equipment developed favorably in China • Order intake was down 8% reflecting the slowdown in the Architectural market • Net sales at previous year’s level: EUR 217.9 (
Slide 6: Glaston's operating environment
Glaston’s operating environment Architectural Mobility and solar Services machine market machine market market 10-12/2024 1-12/2024 10-12/2024 1-12/2024 10-12/2024 1-12/2024 EMEA Americas China Rest of APAC Glaston view on market sentiment compared to previous year In Q4: • The Architectural market
Slide 7: Comparable EBITA drivers in medium-term (3-5 years)
Comparable EBITA drivers in medium-term (3-5 years) ~10% + Fixed cost leverage + Improved global capacity utilization 6.8% 7.0% - Cost inflation - Growth resourcing + Sourcing benefits + Operational efficiency + Higher services share + Innovation - Cost inflation - Pricing for market share gains - M
Slide 8: Glaston's strategic targets and execution
Glaston’s strategic targets and execution Targets medium-term (3-5 years), 2024 2023 2022 2021 emission targets by 2032 Annual average net sales exceeding the addressable -1% +3% +17% +7% equipment markets growth Comparable EBITA 10% 7.0% 6.8% 6.4% 6.1% Comparable ROCE above 16% 12.6% 12.7% 10.5% 6.
Slide 9: Strategy execution
Strategy execution • To strengthen the company’s focus on customer experience, especially in services, ensure continued positive profitability development and reach additional operational efficiencies, the organizational changes were completed in Q4 • As of 1 January 2025, Glaston has three Business
Slide 10: Sustainability highlights
Sustainability highlights • Glaston’s greenhouse gas emission reduction targets • In line with the EU taxonomy, Glaston’s enabling were validated by the Science Based Targets initiative activities that substantially contribute to climate • In 2024, Glaston's total GHG emissions were down change miti
Slide 11: Financial Development
FINANCIAL DEVELOPMENT
Slide 12: New orders declined 8% against strong comparison
New orders declined 8% against strong comparison Group orders received, MEUR and yoy% FY 2024 orders received by product area, 250.0 MEUR and yoy% 200.0 -12% 36.5 4% 77.5 150.0 -23% 53.1 220.3 -8% 100.0 1% 202.7 34.6 50.0 Architectural Tempering and Laminating Technologies 11% -6% 1% -8% Insulating
Slide 13: Net sales down 5% driven by mobility and tempering technologies
Net sales down 5% driven by mobility and tempering technologies Group net sales, MEUR and yoy% FY 2024 net sales by product area, 170.0 MEUR and yoy% 150.0 -24% 130.0 40.4 3% -1% 78.6 110.0 219.7 217.9 90.0 8% 72.3 70.0 25% 30.8 50.0 0% 9% 4% -5% Architectural Tempering and Laminating Technologies 3
Slide 14: APAC continues on growth trend, Americas returned to growth in Q4, EMEA still declining
APAC continues on growth trend, Americas returned to growth in Q4, EMEA still declining FY 2024 net sales by region MEUR, yoy% and share of total EMEA 44% 31% 96.9 MEUR Americas -15% 25% 66.7 MEUR -8% APAC 54.4 MEUR +61% 14 January-December 2024 February 14, 2025
Slide 15: Comparable EBITA a bit down in Q4, full-year margin continued to trend up
Comparable EBITA a bit down in Q4, full-year margin continued to trend up Comparable EBITA Comparable EBITA% 10.0 7.6 % 7.5 % 7.5 % 7.3 % 7.0 % 7.0 % 9.0 6.8 % 6.6 % 6.2 % 6.4 % 8.0 5.8 % 7.0 3% 6.0 14.9 15.3 5.0 4.0 3.0 9% 7% -7% 2.0 4.6 18% -3% 4.2 3.9 4.2 4.2 3.0 3.4 3.6 3.3 1.0 0.0 FY 2023 FY 20
Slide 16: Reporting Segments
REPORTING SEGMENTS
Slide 17: Architecture – markets remained soft
Architecture – markets remained soft • Machine orders were down by 10% vs Q4 vs FY MEUR Q4 2024 FY 2024 o Tempering and Laminating orders low and 2023* 2023* down 31%. Insulating Glass orders at good Order intake 36.2 -5.6% 147.3 -11.1% level and flat year-on-year Order backlog 70.3 -21.5% 70.3 -21.
Slide 18: Mobility, Display & Solar – minor increase in comparable EBITA
Mobility, Display & Solar – minor increase in comparable EBITA • Order intake down 13%, machine orders down Q4 vs Q4 FY vs FY MEUR 18% against strong comparison, services orders 2024 2023* 2024 2023* up 5% Order intake 16.6 -12.7% 54.3 1.6% • Net sales down 21% due to low order intake in Order backl
Slide 19: Positive operating cash flow in Q4 turned full-year positive, gearing clearly higher
Positive operating cash flow in Q4 turned full-year positive, gearing clearly higher than end of 2023 Quaterly operating cash flow, MEUR 20.0 13.8 15.0 9.3 8.8 10.0 6.0 5.0 4.4 1.4 3.5 5.0 0.1 0.9 0.0 -5.0 -10.0 -6.2 -4.0 -6.8 -15.0 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4
Slide 20: Reverse share split 2:1
Reverse share split 2:1 • Glaston Corporation plans to reduce the number of all shares in the company through a reverse share split procedure so that each two (2) shares shall be merged into one (1) share. The Board of Directors of Glaston proposes the reverse share split to the Annual General Meeti
Slide 21: Capital return increase proposed despite decline in comparable EPS
Capital return increase proposed despite decline in comparable EPS Comparable EPS, € Capital return per share, € 0.10 0.09 0.07 0.05 0.05 0.055 0.04 0.03 0.02 0.01 2020 2021 2022 2023 2024* * The capital repayment of EUR 0.055 is the Board of Directors’ 21 January-December 2024 February 14, 2025 pro
Slide 22: Outlook 2025
OUTLOOK 2025
Slide 23: Glaston's outlook for 2025
Glaston’s outlook for 2025 Given the cautious market environment, the company’s growth opportunities arise from new product innovations, services, and upgrade products. Implemented and on-going structural cost-saving actions support profitability. Glaston Corporation estimates that its net sales wil
Slide 24: Questions
QUESTIONS eeing It through aston \
Slide 25: Financial reports in 2025
Financial reports in 2025 Interim report January-March 2025, on Tuesday, 6 May 2025 Half year financial report 2025, on Friday, 8 August 2025 Interim report January-September 2025, on Thursday, 30 October 2025
Slide 26: Forward-looking statements disclaimer
This financial report provides future prospects involving risk and uncertainty factors, and other factors as a result of which the performance, operation, or achievements of Glaston may substantially deviate from the estimates. Forward-looking statements relating to future prospects are subject to r
Slide 27: Thank you!
> www.glaston.net Thank you! IR-contact: pia.posio@glaston.net
Slide 28: Appendix
Appendix
Slide 29: Architecture Americas and EMEA end-market indicators
Architecture Americas and EMEA US and EU architectural end-market indicators US housing starts annualized rate EU residential building permits in sqm Monthly 3-month average 2,000 120 Dec-24 Oct-24 100 # of starts in thousand Index (100=2021) 1,500 +16% +1% MoM 80 MoM 1,000 -1% YoY 60 -7% YoY 40 500
Slide 30: APAC architectural and Mobility & Solar end-market indicators
Architecture APAC and Mobility, Display, and Solar APAC architectural and Mobility & Solar end-market indicators China newly started real estate construction China motor vehicle production Monthly 3-month average Million sqm useful floor space 250 3,5 Million motor vehicles Dec-24 Dec-24 3,0 200 0%