Glaston Experiences ‘Significantly Better’ Second Quarter

Glaston recently released its interim report for January-June, adjusting its outlook from the January-March report.

According to Glaston president and CEO Arto Metsänen, “the second quarter was significantly better than the first,” as the company saw signs of the market picking up.

“Our net sales grew compared with the corresponding period of the previous year and our operating result, excluding non-recurring items, was positive at EUR 2 million,” says Metsänen. “The January-June operating profit, excluding non-recurring items, improved compared with the corresponding period last year by EUR 0.6 million, despite the fact that net sales were slightly below the previous year’s level. This shows that our profitability is developing in the right direction.”

According to the report, in the second quarter, the new orders Glaston received were on a higher level than the previous year. “We ended up, in practice, at the previous year’s level for the whole first half of the year,” says Metsänen. “We continue to believe that full-year net sales will exceed the previous year’s level.”

Through the first half of the year, the company claims market growth of new machines was good in Europe, the Middle East and Africa. Stable development continued in North America and Asia, and the machine market remained subdued in South America. The service market continued to be challenging, according to the report.

Glaston expects the safety glass market to grow by nearly seven percent per year up to 2017.

“We will continue our systematic work with both growth and profitability measures during the second half of the year,” says Metsänen. “In line with our strategy, we are focusing more strongly on developing the customer experience, and during the early part of the year we have received encouraging feedback on our work from our customers. Our goal is to achieve the highest customer satisfaction in our field of business.”

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