A summary of Glaston Corporation‘s financial statements bulletin for 2021. The complete report can be downloaded from here.
October–December 2021 in brief
- Orders received totaled EUR 59.1 (52.1) million
- Net sales totaled EUR 52.6 (38.3) million
- Comparable EBITA was EUR 3.5 (2.1) million, i.e. 6.6 (5.4) percent of net sales
- The operating result (EBIT) was EUR 1.2 (-0.7) million
- The comparable operating result (EBIT) was EUR 2.3 (0.9) million, i.e. 4.4 (2.4) percent of net sales
- Items affecting comparability totaled EUR -1.2 (-1.6) million
- Comparable earnings per share were EUR 0.023 (0.001)
- Cash flow from operating activities was EUR 5.5 (3.5) million
January–December 2021 in brief
- Orders received totaled EUR 216.2 (153.5) million
- Net sales totaled EUR 182.7 (170.1) million
- Comparable EBITA was EUR 11.1 (7.7) million, i.e. 6.1 (4.6) percent of net sales
- The operating result (EBIT) was EUR 5.1 (-0.5) million
- The comparable operating result (EBIT) was EUR 6.6 (3.2) million, i.e. 3.6 (1.9) percent of net sales
- Items affecting comparability totaled EUR -1.5 (-3.8) million
- Comparable earnings per share were EUR 0.060 (0.013)
- Cash flow from operating activities was EUR 19.3 (0.7) million
- The Board of Directors proposes a capital repayment of EUR 0.03 per share
Glaston’s outlook for 2022
In 2021, Glaston’s markets saw a continued recovery and strong growth. The company expects positive development to continue in 2022 with good progress for both machines and services business. At the start of 2022, the order backlog was 48 percent higher than the previous year providing a strong starting point for 2022 and supporting Glaston’s net sales and profitability development. In 2022, Glaston will focus on the execution of its strategy which will incur costs and capital expenditure ahead of the effect on revenue growth. As the COVID-19 pandemic continues and supply chain disturbances have become a longer-term challenge, a higher than normal uncertainty is related to the development of economic activity and customers’ investments.
Glaston Corporation estimates that its net sales and comparable EBITA will improve in 2022 from the levels reported for 2021. In 2021, Group net sales totaled EUR 182.7 million and comparable EBITA was EUR 11.1 million.