A fast start to the year helped Glaston finish 2015 with a 12-percent increase in net sales from 2014.
Net sales totaled $140 (EUR 123.4) million, with the machines and services business areas both showing increased their net sales, particularly in North America. Orders received totaled $121.9 (EUR 107.4) million.
The order book on December 31, 2015 was $43.7 (EUR 38.5) million, weaker than a record-high $63.5 (EUR 56) million at the end of 2014.
“The single most significant event for Glaston during 2015 was the disposal of pre-processing operations,” says president and CEO Arto Metsänen. “The sales decision was influenced particularly by the fact that the profitability of the pre-processing operations did not correspond with our objectives and developing the operations in question to the target level would have demanded significant investment. As a result of the sale of the pre-processing machines business, our structure has been streamlined: we now focus on high technology heat treatment and services. In our view, the growth prospects in these product groups are good.”
The machines segment’s most significant product group was flat tempering.
“The FC500 flat tempering line further strengthened its position in the market and rose to become Glaston’s most popular product,” according to the release. “Significant deals were closed for the USA, Poland and Kuwait as well as China, where a customer ordered two CCS1000 glass tempering furnaces. The first GlastonAir tempering line was delivered to Colombia at the end of the year. In addition, the first FC1000TM flat tempering line was delivered to the USA.”
All product groups in the services market, except for tools, increased their sales. The segment’s strongest market areas were North America and the Europe, Middle East and Africa area. The market slowdown in Asia and South America was reflected in the demand for maintenance services.
The company expects 2016 net sales to be slightly below the 2015 level, “[d]ue to the subdued market situation and reduced order book,” according to the release.