Slide 1: Glaston's Q1/2022: Strong performance continued in order intake and profitability
Glaston’s Q1/2022: Strong performance continued in order intake and profitability 27 April 2022 January−March 2022
Slide 2: Content
Content • Q1/2022 highlights • Market review • Financial development • Outlook 2022
Slide 3: Q1/2022 Highlights
Q1/2022 HIGHLIGHTS
Slide 4: Q1 2022 highlights
Q1 2022 highlights • Order intake increased by 25% to EUR 59.0 (47.2) million • Net sales for the first quarter were EUR 52.3 (40.4) million, up 29% • Comparable EBITA margin improved o Q1: EUR 3.5 (2.1) million, i.e. 6.6 (5.1)% of net sales • Order backlog EUR 98.1 (68.0) million • The AGM resolved
Slide 5: Architectural market Q1
Architectural market Q1 EMEA Americas Asia • The Insulating Glass Technologies market • Driven by the residential glass sector, • In China, the coronavirus-related remained solid, supported by the the positive market activity in North restrictions and lockdowns affected residential and commercial gl
Slide 6: Automotive market in Q1
Automotive market in Q1 • A stable start to the year, although automotive production faced increasing difficulties due to supply shortages • The general market sentiment continues to be positive as the development in the automotive end market has a better outlook • Automotive upgrades were in high d
Slide 7: Glaston's segments Q1 2022 in brief
Glaston’s segments Q1 2022 in brief Heat Treatment Insulating Glass Automotive & Display • Stable demand for Heat Treatment • Continued good investment activity for • The markets remained healthy new automotive glass machines equipment, particularly for tempering resulting in a strong order intake a
Slide 8: Financial development
FINANCIAL DEVELOPMENT
Slide 9: Another strong quarter for order intake driven by the Americas region
Another strong quarter for order intake driven by the Americas region Group orders received, M€ and yoy% Q1 2022 orders received by product area, M€ and yoy% -5 % 8% 14,2 18,8 169 % 64,5 13 % 25 % 466 % 59,1 59,0 38 % 3% 7,3 18,4 52,1 36 % 45,6 47,2 45,4 33,3 Heat Treatment Technologies 24,0 Insulat
Slide 10: Net sales close to 30% higher with a boost from Heat Treatment and Automotive & Display
Net sales close to 30% higher with a boost from Heat Treatment and Automotive & Display technologies Group net sales, M€ and yoy% Q1 2022 net sales by product area, M€ and yoy% 105 % 10 % 15,1 18,3 37 % 29 % 29 % 52,6 52,3 48,9 -14 % -12 % 151 % -2 % 46,9 46,4 40,4 43,3 4,6 14,9 35,9 38,3 Heat Treat
Slide 11: All regions growing strongly
All regions growing strongly Q1 2022 net sales by region M€, yoy% and share of total EMEA 28.4 MEUR 54% +24% 24% Americas 12.7 MEUR 21% +43% APAC 11.2 MEUR +28% 11 January−March 2022 27 April 2022
Slide 12: Clear year-on-year progress in EBITA and EBITA margin
Clear year-on-year progress in EBITA and EBITA margin EBITA, M€ and yoy% EBITA% 6,9 % 6,6 % 6,6 % 5,4 % 5,5 % 5,1 % 4,8 % 4,3 % 3,6 % 145 % 68 % 68 % 2% 1% 3,5 3,5 3,2 2,0 2,3 1,3 2,1 2,1 2,4 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 12 January−March 2022 27 April 2022
Slide 13: Heat Treatment
Heat Treatment
Slide 14: Heat Treatment – Strong improvement in net sales and profitability, orders declined slightly
Heat Treatment – Strong improvement in net sales and profitability, orders declined slightly • Good level of orders but slightly lower than MEUR Q1 Chg/ Q4 the strong comparison 2022 Q1 2021* 2021 • Net sales continued at high level with strong Order intake 22.4 -2% 23.5 year-on-year improvement fro
Slide 15: Insulating Glass
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Slide 16: Insulating Glass – High order intake, profitability improved despite stable net sales
Insulating Glass – High order intake, profitability improved despite stable net sales • IG demand in Europe strong, over 30% MEUR Q1 Chg/ Q4 growth in orders 2021 Q1 2021 2021* • Net sales close to flat, component shortages having some impact on projects Order intake 25.5 +31% 25.1 and customers’ re
Slide 17: Automotive & Display
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Slide 18: Automotive & Display – Good orders, no major improvement in profit due to regional mix
Automotive & Display – Good orders, no major improvement in profit due to regional mix • Demand for machines remained strong MEUR Q1 Chg/ Q4 despite automotive production 2022 Q1 2021* 2021 disturbances. Services at modest growth. Order intake 10.8 +125% 10.0 • Net sales recovered strongly from the
Slide 19: Working capital increased due to seasonality and component stocking – negative cash flow and higher gearing
Working capital increased due to seasonality and component stocking – negative cash flow and higher gearing Quaterly operating cash flow, MEUR 8,8 7,7 5,7 6,6 5,5 3,5 1,8 0,6 -0,3 -0,5 -3,1 -5,4 -6,8 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2
Slide 20: Outlook
OUTLOOK 2022
Slide 21: Glaston's outlook remains unchanged
Glaston’s outlook remains unchanged • In 2021, Glaston’s markets saw a strong recovery and growth. This positive development continued in the first quarter of 2022, indicating good development for both machines and services business. Glaston started the year with a 48% higher order backlog than in 2
Slide 22: Questions
QUESTIONS
Slide 23: Financial reports in 2022
Financial reports in 2022 Half year financial report January-June 2022 4 August 2022 Interim report January-September 2022 27 October 2022
Slide 24: Forward-looking statements disclaimer
This interim 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 ris
Slide 25: Thank you!
> www.glaston.net Thank you! IR-contact: pia.posio@glaston.net 25 January−March 2022 27 April 2022