Glaston Corporation has released the Interim Report for January−March 2024.
January─March 2024 in brief
- Orders received totalled EUR 46.6 (56.9) million.
- Net sales totalled EUR 55.8 (51.3) million.
- Comparable EBITA was EUR 3.6 (3.0) million, i.e. 6.4 (5.8) percent of net sales.
- The operating result (EBIT) was EUR 1.9 (1.9) million.
- The comparable earnings per share were EUR 0.019 (0.019).
Glaston’s outlook for 2024 remains unchanged
The cautious development in the architectural glass processing equipment markets continued in the first quarter of the year. Despite the slow start, Glaston expects the architectural glass processing equipment markets to start recovering at some point in 2024. For mobility glass processing equipment, the positive development in China is expected to continue. Amid global economic uncertainty and increased geopolitical tensions, higher-than-normal uncertainty exists concerning customers’ decision-making.
Glaston started the year with a lower order backlog than the previous year. However, given the expected slowly improving market activity during the year, Glaston Corporation estimates that its net sales and comparable EBITA will stay at the same level or increase slightly in 2024 from the levels reported for 2023. In 2023, Group net sales totalled EUR 219.7 million and comparable EBITA was EUR 14.9 million.
The full report is available here.