In releasing its interim report, Glaston expects 2016 net sales to be approximately $117-122 million* and the comparable operating profit to be approximately $2.2-4.4 million. Compared to 2015, net sales were approximately $137 million and operating profit was approximately $6.8 million.

From July to September 2016, orders received were approximately $28.4 million, with net sales approximately $22.8 million.

The operating result was a loss of approximately $0.33 million, or -1.3 percent of net sales. The comparable operating result was a loss of approximately $0.33 million, or -1.3 percent of net sales.

From January to September of this year the company’s orders received were approximately $88 million; net sales were approximately $80 million.

“Due to low orders during the end of last year and the beginning of this year, Glaston’s third quarter net sales were very low and amounted to [approximately] $22.8 million,” said Arto Metsänen, president and CEO. “Due to a lower cost level, however, the result was only slightly negative. The comparable operating result improved compared with the previous quarter and was a loss of [approximately] $0.33 million. Due to a reduction in working capital, cash flow clearly strengthened during the quarter.

“Markets remained quiet at the beginning of the quarter, but picked up at the end of the review period. In the EMEA area and the Asian market area in particular, customer activity is increasing. Orders received in the third quarter declined by 9 percent compared with the corresponding period the previous year and totaled [approximately] $28.4 million. The orders intake of the Machines business grew 10 percent to [approximately] $18.4 million. We expect this positive development of the Machines business to continue in the final quarter of the year.

He added, “The final quarter is generally the strongest of the year for Glaston. This year, the difference compared with the other quarters will be higher than normal, because a large number of deliveries will take place in the latter part of the year.”

*All figures have been converted from euros to dollars.