Although Glaston’s order book at the end of 2017 was lower than the previous year, the good order intake of the second half of the year and positive market development have created good conditions for profitable growth in 2018.

The company expects the full-year comparable operating profit to improve from 2017. The full-year 2017 comparable operating profit was $6.6 million (EUR 5.4 million).

From January to December 2017, orders received equaled $127.4 million (EUR 103.7 million). Operating profit was $6.1 million (EUR 5 million). Earnings per share were $0.02. The Glaston board of directors proposes that a return of capital of $0.01 per share be distributed for 2017.

“After a quiet first quarter, Glaston’s markets continued to pick up. The positive note was maintained throughout the year and order intake grew steadily,” says Arto Metsänen, president and CEO. “Despite the good market activity, customers’ decision-making remained slow in certain areas and some deals were also delayed. Full-year net sales rose by 3 percent compared with 2016 and totaled $135.6 million (EUR 110.4 million). A particular bright spot was the strongly increased operating profit. Compared with the previous year, the comparable operating profit nearly doubled to EUR 5.4 million.”

Glaston has invested heavily in both digitalization and emerging technologies. Development projects in bending-tempering and in bent glass technology have continued. Glaston organized a startup event, aimed at bringing together the sector’s innovators, investors and operators.

In the field of digitalization, Glaston launched a number of development projects related to cloud services, utilization of analytics, raising the degree of automation and preventative maintenance.

“Our starting position for 2018 is good. The company is stronger and we expect the good market situation to continue. We look to the future with confidence and, in line with our strategy, we will continue on the path of profitable growth,” says Metsänen. “We are confident that certain emerging technologies’ development projects will be realized as new machine orders during 2018–2019.”