Glaston Releases Interim Report 1 January-30 September 2012
November 1, 2012

In Glaston Corp.'s latest interim report, it notes January-September 2011 orders received for the period totaled to EUR 84.7 million, while third-quarter orders received were EUR 28.4 (21.8) million.

The report goes on to compare continuing operations through January-September 2012. Net sales for the period came to EUR 83.2 (85.9) million and third-quarter net sales were EUR 24.6 (22.2) million, while EBITDA was EUR 0.2 (1.1) million, 0.2 percent of net sales.

A decline of operating results excluding non-recurring items was noted at a loss of EUR 3.9 (3.2 loss) million, i.e. -4.6 (-3.7) percent of net sales. The third-quarter operating results excluding non-recurring items was a loss of EUR 0.4 (2.3 loss) million. According to the report, the operating results also displayed a decline and was a loss of EUR 6.9 (3.1 loss) million, or -8.2 (-3.6) percent of net sales. The third quarter operating result was a loss of EUR 0.4 (2.2 loss) million.

The return on capital employed (ROCE) was -13.1 (-1.6) percent compared to the following year. Earnings per share were EUR -0.16 (-0.13) and third-quarter earnings per share were EUR -0.07 (-0.04). In January-September, the Machines segment's net sales totaled EUR 62.0 (63.8) million. The operating results excluding non-recurring items was a loss of EUR 3.1 (3.4 loss) million.

The company also announced its software solutions segment was transferred to discontinued operations after Glaston announced that it was negotiating the sale of the business area, according to the company's most recent interim report.

"After a challenging start of the year, markets showed signs of picking up in the third quarter of 2012," says Arto Metsänen president and CEO. "In the North American market, the cautiously positive development continued. In South America and the EMEA area, the market was stable. The market picked up in Asia."

Subscribe to USGlass magazine.
Subscribe to receive the free e-newsletter.