Glaston Reports Strong Overall Demand Despite Challenging Environment

Glaston Corp. reported a solid order backlog and a healthy order intake for the first half of 2022. In its 2022 half-year financial report, the company estimates net sales will increase throughout the year compared to 2021. Last year, group net sales totaled $186 million, and comparable earnings before interest, taxes, depreciation and amortization (EBITA) was $11.3 million.

“Despite increasing overall global economic uncertainty, most of Glaston’s markets continued to perform well in the second quarter,” says Anders Dahlblom, Glaston president and CEO. “The quarterly order intake was approximately $57 million, somewhat above our quarterly average. Net sales were up by 24% to approximately $54 million, primarily due to the good order intake in the previous quarters. Comparable EBITA improved and was approximately $3.6 million, corresponding to an EBITA margin of 6.6%, mainly due to good volume development and operational execution securing strong net sales growth.”

Dahlblom says the service sector remains strong with more than 20% sales growth. This is a result of customers maintaining operations and ramping up production.

Glaston also announced it discontinued all operations in Russia and terminated all employment contracts, six in total. The company halted two upgrade projects and removed them from the order backlog.

Şişecam Sales Increase in First Half of 2022

Şişecam, a Turkish glass manufacturer, announced its net sales increased to more than $2 billion in the first half of 2022. The company, which operates numerous facilities worldwide, including in the U.S., stated that its share of international sales was 62% of its total investments. “The world’s economic and geopolitical risks, high inflation and supply chain problems continued to shape the policies and business practices in the first half of 2022,” says Görkem Elverici, Şişecam CEO. “As a strong global player in the glass and
chemicals sectors, we have successfully continued our growth journey with our advanced risk management muscles, sound investment decisions and practices implemented by shared wisdom. We are reaping the rewards of our strategic decisions and best practices.”

Şişecam will operate at full capacity in its production facilities in 14 countries on four continents. Elverici expects Şişecam  to double its growth in the next five years.

“Our cost optimization practices, effective production planning, healthy and optimized supply chain management and successful crisis management skills help us achieve our ambitious targets,” says Elverici.

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