Glaston Oyj · OMXHEX:GLA1V
Glaston Oyj — Q1 2020 Earnings Presentation
21 slides from Glaston Oyj's earnings presentation, Apr 28, 2020
Slide 1: Glaston Corporation Interim Report January – March 2020
GLASTON CORPORATION INTERIM REPORT JANUARY – MARCH 2020 28. April 2020 VERTAILULUVUT PRO FORMA1
Slide 2: VERTAILULUVUT PRO FORMA2
This presentation provides estimates on 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 sub
Slide 3: Q1/20 highlights: a satisfactory quarter in an uncertain market
Q1/20 highlights: a satisfactory quarter in an uncertain market ▪ Orders received at Q1/19 level. ▪ The segments’ orders received grew 3%, driven by the Insulating glass segment. ▪ Net sales grew 6%. ▪ Comparable EBITA weakened ▪ Profitability development was particularly impacted by the loss- makin
Slide 4: Operating environment Q1/2020 – Architectural glass
ARCHITECTURAL GLASS Operating environment Q1/2020 Uncertainty in all geographic markets increased with the spread of COVID-19 virus infection. CHINA AND APAC AMERICAS • Challenges at beginning of Q1, slight EMEA • The brisk market activity early in the recovery at the end of the quarter, • Since lat
Slide 5: Operating environment Q1/2020 – Automotive glass
AUTOMOTIVE GLASS Operating environment Q1/2020 Uncertainty in all geographic markets increased with the spread of COVID-19 virus infection. • The low level of the automotive glass market continued in the first quarter, and activity is expected remain lower than the level of previous years throughout
Slide 6: Impacts of the COVID-19 pandemic on Glaston's activities
Impacts of the COVID19- pandemic on Glaston’s activities Customers and orders Personnel ▪ Some customers' factories have been closed, some ramp- ▪ No reported coronary infections. up already visible in different parts of the world. ▪ Teleworking policy enabled for all functions where remote ▪ So far
Slide 7: Segment development Q1 in brief
Segment development Q1 in brief The importance of automation and remote diagnostic increasing – Glaston frontrunner Heat Treatment Automotive and Emerging ▪ Demand for heat treatment machines was almost at the previous Technologies year's level. ▪ Modest ordering activity in Automotive. ▪ Among othe
Slide 8: Integration in Q1/2020
Integration in Q1/2020 ▪ In 2020, integration has continued with, among other things, the Bystronic glass brand integration project. ▪ Due to the uncertainty caused by coronavirus, certain longer-term integration projects, such as the integration of ERP systems in selected countries, have been postp
Slide 9: Financial development January-March 2020
FINANCIAL DEVELOPMENT JANUARY-MARCH 2020 GLASTON CORPORATION 28 APRIL 2020 INTERIM REPORT JANUARY-MARCH 2020 COMPARATIVE FIGURES PRO FORMA VERTAILULUVUT PRO FORMA9
Slide 10: Orders received by the segments grew 3%
Orders received by the segments grew 3% Group orders received stable Orders received by product area Q1/20 (MEUR) 70 63,4 60 56,2 0,5 (1,3) 52,8 49,2 13,2 (13,5) 50 45,3 44,5 45,6 45,6 15,5 (17,4) 44,2 40 30 0,7 (6,3) 15,8 (6,7) 20 10 Heat Treatment Technologies 0 Insulating Glass Technologies Q1/18
Slide 11: Quarterly orders received by segment
Quarterly orders received by segment 60,0 Orders received by the segments grew 3% and totaled EUR 45.2 (21.5, pro forma 44.0) million. 50,0 7,7 • Heat Treatment orders and net 4,2 40,0 5,7 5,5 sales at a good level given 18,0 10,7 21,2 prevailing circumstances. 21,3 21,1 • Good activity in the insul
Slide 12: Group order book at good level at the end of the period
Group order book at good level at the end of the period Order book by product area 31 Dec 2020 (MEUR) 120 104,2 99,9 100 4,1 (2,7) 88,8 87,0 84,5 11,4 (30,0) 82,3 78,9 79,1 79,5 80 30,7 (38,9) 60 40 35,5 (32,3) 20 0 Heat Treatment Technologies 03/18 06/18 09/18 12/18 03/19 06/19 09/19 12/19 03/20 In
Slide 13: Quarterly net sales by segment
Quarterly net sales by segment 70,0 The segment net sales grew y-on-y and totaled EUR 46.0 (19.7, pro forma 60,0 43,2). 12,3 • Heat Treatment net sales at good 50,0 11,2 level given circumstances. 4,3 • Insulating glass net sales grew 40,0 11,9 22,9 21,4 8,5 22,4 48%. • Auto& ET net sales declined.
Slide 14: Q1/20 net sales grew 6%
Q1/20 net sales grew 6% Net Sales by product area 70 58,4 60 55,4 0,1 (0,6) 54,2 54,5 12,4 50 47,3 47,3 16,5 (12,4) 46,9 44,9 44,3 (17,7) 40 30 0,9 (4,1) 17,1 (9,6) 20 10 Heat Treatment Technologies Insulating Glass Technologies 0 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Auto & ET Servi
Slide 15: Geographical distribution of net sales Q1/2020
Geographical distribution of net sales Q1/2020 EMEA 45% 18% 20.9 MEUR 37% APAC Americas 8.5 MEUR 17.5 MEUR (54 %) (27 %) GLASTON CORPORATION 28 APRIL 2020 INTERIM REPORT JANUARY-MARCH 2020 COMPARATIVE FIGURES PRO FORMA VERTAILULUVUT PRO FORMA15
Slide 16: Comparable EBITA by segment
Comparable EBITA by segment Comparable EBITA EUR Q1/20 2.0 (2.8) million. 4,0 Profitability development Q1/20 3,0 1,0 2,4 1,6 1,2 Fixed 0,6 Segment Machines Services costs 2,4 2,0 1,4 0,7 HT 1,0 1,3 IG 1,2 0,7 0,7 0,0 -0,2 0,1 Auto & ET -1,1 -1,0 -2,0 Q4/19 Q3/19 Q2/19 Q1/19 Q1/20 Heat Treatment Ins
Slide 17: Net debt and cash flow
Net debt and cash flow Debt, net debt [M€] and gearing [%] 100,0 54% 55% 53% • Cash and cash equivalents 51% 51% 90,0 48% were EUR 22.9 (10.9) million 45% 80,0 (at the end of the period). 38% • Confirmed revolving credit 70,0 facility of EUR 35 million, 60,0 including a credit facility of 50,0 17% E
Slide 18: Events after the review period and outlook
Events after the review period and outlook VERTAILULUVUT PRO FORMA18
Slide 19: Annual General Meeting and distribution of profits proposal
Annual General Meeting and distribution of profits proposal ▪ The Board of Directors of Glaston Corporation has decided to convene the Annual General Meeting to be held on Thursday, 28 May 2020, and in this connection decided on an exceptional meeting procedure in accordance with the temporary legis
Slide 20: Glaston's outlook for 2020 updated
GLASTON’S OUTLOOK FOR 2020 UPDATED ▪ Glaston Corporation estimates that comparable EBITA for 2020 will decline from the 2019 level. ▪ Due to low visibility and rapid market movements, the extent of the deterioration cannot be reliably assessed at this stage. ▪ The company’s current assessment is tha
Slide 21: Thank you!
THANK YOU! IR-contact: Josephine.Mickwitz@glaston.net VERTAILULUVUT PRO FORMA21