Glaston Oyj · OMXHEX:GLA1V
Glaston Oyj — Q1 2018 Earnings Presentation
14 slides from Glaston Oyj's earnings presentation, Apr 23, 2018
Slide 1: Glaston Interim Report January-March 2018
Glaston Interim Report January-March 2018 23 April 2018
Slide 2: Q1 in brief
Q1 in brief ▪ Upbeat start to the year. Net sales grew by Orders received: 23% compared with corresponding period of EUR 26.5 million, +23% previous year ▪ Machines business orders grew 50% Net sales: ▪ Strong development in EMEA area and Asia EUR 24.8 million, -7%*) ▪ Net sales impacted mainly by d
Slide 3: Operating environment Q1
Operating environment Q1 ▪ in EMEA area, activity continued at a high level 40 ▪ Positive development in Asian market area in North America, demand was good but 20 ▪ orders dipped temporarily ▪ South American market remained subdued 21.6 26.6 26.6 28.9 26.8 24.5 28.8 29.7 26.5 24.8 0 Q1 Q2 Q3 Q4 Q1
Slide 4: Q1 net sales
Q1 net sales Net sales adversely affected by lower service business net sales and development of foreign exchange rates Taking into account sale of USA and Canada pre- processing machine business, net sales were stable and change was +/-0% 26.3 30.1 34.3 32.6 29.4 22.1 20.5 35.1 26.6 28.9 24.5 29.7
Slide 5: Q1 comparable operating profit
Q1 comparable operating profit Net sales at previous year’s level 8% 7% 6% 5% 5% 5% 4% 4% 4% 2% 2% 1.2 1.7 2.5 0.6 0.7 2.7 1.1 1.5 1.0 1.4 1.0 -0.3 -0.4 -1% -2% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2015 2016 2017 2018 EBIT, M€ EBIT% 2015 and 2016 data not restated in accordance with IFRS 15 revenu
Slide 6: Order book
Order book Growth from turn of year 6% 52.8 56.0 47.8 38.5 34.5 40.9 46.0 45.6 39.8 36.1 37.5 34.1 36.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 M€ 2015 2016 2017 2018 2015 and 2016 data not restated in accordance with IFRS 15 revenue recognition standard
Slide 7: Machines Q1
Machines Q1 20,0 ▪ Machines business made an upbeat start to the year ▪ In EMEA area, market activity continued at a high level ▪ In Asian market area, development was good 10,0 ▪ In North America, demand was at a good level but orders dipped temporarily. South American market was still weak ▪ Order
Slide 8: Good progress with Heliotrope
Good progress with Heliotrope ▪ Emerging Technologies unit focused on testing Heliotrope line and running larger glass sizes ▪ Prototype was approved in March ▪ Unit has nearly ten pending projects, related to the automotive, solar energy and aviation industries ▪ In addition to production lines, ne
Slide 9: Services Q1
Services Q1 ▪ In services market, year began quietly ▪ In modernisation products, demand was at a good level in EMEA area and North America ▪ Services business orders and net sales were 10,0 adversely impacted by sale of pre-processing business in 2017 and by decline in volumes of remaining pre-proc
Slide 10: Net sales by area
Net sales by area Asia growing rapidly, Americas declined due to divestments and the dollar 26,6 24,8 10.6 6.1 6,1 3.3 12.6 12.6 EMEA Asia America 1-3/2017 1-3/2018 €M €M
Slide 11: Net debt grew
Net debt grew Growth of working capital consumed cash balance 6.1 5.2 7.4 10.9 11,4 7.7 3.0 5.9 8.2 0.9 7.7 -0.6 -1.2 €M Q1/2015 Q2/2015 Q3/2015 Q4/2015 Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018
Slide 12: New Board of Directors as of 10 April
New Board of Directors as of 10 April Teuvo Salminen Sebastian Bondestam Anu Hämäläinen M.Sc.(Econ.), M.Sc.(Eng.) M.Sc.(Econ.) APA Deputy Chairman of the Member of the Chairman of the Board since 2018 Board since 2012 Board since 2018 Antti Kaunonen Kai Mäenpää Sarlotta Narjus Tero Telaranta Doctor
Slide 13: Outlook
Outlook ▪ Steady order intake of previous six months and positive market development create good conditions for profitable growth in 2018 ▪ We expect the full-year comparable operating profit to improve from 2017 (Full-year 2017 comparable operating profit was EUR 5.0 million according to the new IF
Slide 14: www.glaston.net
www.glaston.net