GLASTON’S NEW SEGMENTS Helsinki, Finland, 2014-04-11

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Apr 11, 2014 at 5:15 AM

GLASTON’S NEW SEGMENTS

Helsinki, Finland, 2014-04-11 11:00 CEST (GLOBE NEWSWIRE) -- GLASTON CORPORATION Stock Exchange Release 11.4.2014 at 12.00

GLASTON’S NEW SEGMENTS To enable a more efficient customer service Glaston announced in December 2013 that it transfers the sales and manufacturing of tools from the Machines segment to the Services segment on 1 January 2014. Glaston’s reportable segments are Machines and Services. The Machines segment is divided into two operating segments: Heat Treatment, which comprises manufacturing and sale of glass tempering, bending and laminating machines and Pre-processing, which comprises manufacturing and sale of glass pre-processing machines. The Services segment includes maintenance and service of glass processing machines and sale of spare parts and upgrades as well as sale and manufacturing of tools. The company’s internal and external reporting has been changed from the beginning of 2014 to reflect the new segment structure. The information in accordance of Glaston's new segments are presented in the tables below. Glaston's January - March interim report, that is published on 23 April 2014, will be reported in accordance with the new segment structure.

SEGMENTS

CONTINUING OPERATIONS
Machines

EUR million	1-3/ 2013	1-6/ 2013	1-9/ 2013	1-12/ 2013
External sales	17,0	41,3	58,3	84,2
Intersegment sales	0,0	0,0	0,0	0,0
Net sales	17,0	41,3	58,3	84,3
EBIT excluding non-recurring items	-0,4	0,8	0,7	2,4
EBIT-%, excl. non-recurring items	-2,3	2,0	1,2	2,9
Non-recurring items	0,0	0,0	0,0	0,0
EBIT	-0,4	0,8	0,7	2,4
EBIT-%	-2,3	2,0	1,2	2,9
Net working capital	22,3	20,6	19,7	17,1
Number of personnel, average	345	348	347	346
Number of personnel, end of period	351	345	344	343

Services

EUR million	1-3/ 2013	1-6/ 2013	1-9/ 2013	1-12 /2013
External sales	9,4	18,1	27,5	37,3
Intersegment sales	0,5	0,7	1,0	1,3
Net sales	9,8	18,8	28,5	38,6
EBIT excluding non-recurring items	1,2	2,2	3,6	5,2
EBIT-%, excl. non-recurring items	12,4	11,8	12,5	13,4
Non-recurring items	0,0	0,0	0,0	0,0
EBIT	1,2	2,2	3,6	5,2
EBIT-%	12,4	11,8	12,5	13,4
Net working capital	28,8	31,9	30,8	30,1
Number of personnel, average	237	236	234	233
Number of personnel, end of period	237	235	229	227


Glaston Group

Net sales
EUR million	1-3/ 2013	1-6/ 2013	1-9/ 2013	1-12/ 2013
Machines	17,0	41,3	58,3	84,3
Services	9,8	18,8	28,5	38,6
Other and intersegment sales	-0,4	-0,1	-0,4	-0,6
Glaston Group total	26,4	60,1	86,4	122,2




EBIT
EUR million	1-3/2013	1-6/2013	1-9/2013	1-12/2013
Machines	-0,4	0,8	0,7	2,4
Services	1,2	2,2	3,6	5,2
Other and eliminations	-1,2	-2,3	-4,0	-5,5
EBIT excluding non-recurring items	-0,4	0,7	0,3	2,1
Non-recurring items	3,7	3,8	3,7	3,7
EBIT, continuing operations	3,4	4,5	4,0	5,9
Net financial items	2,3	0,9	0,0	-1,0
Result before income taxes from continuing operations	5,7	5,4	4,0	4,9
Income taxes from continuing operations	-1,0	-1,1	-1,0	-3,6
Result from continuing operations	4,7	4,3	3,0	1,3
Net discontinued operations	0,0	0,0	0,0	0,0
Net result	4,7	4,3	3,0	1,3
Number of personnel, average	592	595	593	590
Number of personnel, end of period	598	592	585	581



Segment assets
EUR million	1-3/2013	1-6/2013	1-9/2013	1-12/2013
Machines	63,6	59,7	58,6	56,1
Services	40,1	39,4	38,2	37,8
Total segments	103,7	99,2	96,9	93,9
Unallocated and eliminations and adjustments	5,4	5,4	5,1	4,9
Total segment assets	109,1	104,6	101,9	98,8
Other assets	29,2	25,7	26,1	26,8
Total assets	138,3	130,2	128,0	125,6



Segment liabilities
EUR million	1-3/2013	1-6/2013	1-9/2013	1-12/2013
Machines	41,3	39,2	39,0	39,0
Services	11,3	7,5	7,4	7,7
Total segments	52,6	46,7	46,4	46,7
Unallocated and eliminations and adjustments	2,0	1,9	1,9	1,9
Total segment liabilities	54,6	48,7	48,3	48,6
Other liabilities	30,1	27,9	27,3	26,3
Total liabilities	84,7	76,5	75,7	74,9



Net working capital
EUR million	1-3/2013	1-6/2013	1-9/2013	1-12/2013
Machines	22,3	20,6	19,7	17,1
Services	28,8	31,9	30,8	30,1
Total segments	51,1	52,5	50,5	47,2
Unallocated and eliminations and adjustments	3,4	3,4	3,1	2,9
Total Glaston Group	54,5	55,9	53,6	50,2





SEGMENTS BY QUARTERS
Continuing operations

Machines

EUR million	10-12/2013	7-9/2013	4-6/2013	1-3/2013
External sales	26,0	16,9	24,3	17,0
Intersegment sales	0,0	0,0	0,0	0,0
Net sales	26,0	16,9	24,3	17,0
EBIT excluding non-recurring items	1,8	-0,1	1,2	-0,4
EBIT-%, excl. non-recurring items	6,8	-0,9	5,0	-2,3
Non-recurring items	0,0	0,0	0,0	0,0
EBIT	1,8	-0,1	1,2	-0,4
EBIT-%	6,8	-0,9	5,0	-2,3


Services

EUR million	10-12/2013	7-9/2013	4-6/2013	1-3/2013
External sales	9,8	9,4	8,8	9,4
Intersegment sales	0,3	0,3	0,3	0,5
Net sales	10,1	9,6	9,0	9,8
EBIT excluding non-recurring items	1,6	1,3	1,0	1,2
EBIT-%, excl. non-recurring items	16,1	13,9	11,2	12,4
Non-recurring items	-	-	-	0,0
EBIT	1,6	1,3	1,0	1,2
EBIT-%	16,1	13,9	11,2	12,4

Net sales
EUR million	10-12/2013	7-9/2013	4-6/2013	1-3/2013
Machines	26,0	16,9	24,3	17,0
Services	10,1	9,6	9,0	9,8
Other and intersegment sales	-0,2	-0,3	0,3	-0,4
Glaston Group total	35,9	26,3	33,7	26,4




EBIT
EUR million	10-12/2013	7-9/2013	4-6/2013	1-3/2013
Machines	1,8	-0,1	1,2	-0,4
Services	1,6	1,3	1,0	1,2
Other and eliminations	-1,5	-1,6	-1,2	-1,2
EBIT excluding non-recurring items	1,9	-0,4	1,1	-0,4
Non-recurring items	0,0	0,0	0,0	3,7
EBIT	1,9	-0,4	1,1	3,4


Order book (continuing operations)	31.12.2013	30.9.2013	30.6.2013	31.3.2013
Machines	38,0	40,0	32,2	37,8
Services	1,1	2,0	1,6	1,6
Total Glaston Group	39,1	42,0	33,8	39,4



Order intake (continuing operations)
EUR million	1-3/2013	1-6/2013	1-9/2013	1-12/2013
Machines	19,2	37,5	62,0	86,2
Services	9,6	18,3	28,0	37,1
Total Glaston Group	28,8	55,8	90,0	123,3


Order intake (continuing operations)
EUR million	10-12/2013	7-9/2013	4-6/2013	1-3/2013
Machines	24,1	24,5	18,2	19,2
Services	9,2	9,7	8,7	9,6
Total Glaston Group	33,3	34,2	26,9	28,8

For more information please contact Glaston Corporation, CFO, Sasu Koivumäki, phone +358 10 500 500.

Glaston Corporation Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our portfolio ranges from pre-processing and safety glass machines to services. We are dedicated to our customers’ continued success and provide services for all glass processing needs with a lifecycle-long commitment in mind. For more information, please visit www.glaston.net. Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List.

Distribution: NASDAQ OMX Helsinki, key media, www.glaston.net

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