Glaston Corporation has released its half-year financial report for the first half of 2023 and provides an outlook for the months ahead. Here are the latest figures.
According to the company, the first half of 2023 saw signs of increasing market uncertainty and more cautious customer behaviour at Glaston.
Due to the slowdown in the architectural market we, the demand environment in Europe and China is expected to be weaker in the rest of the year, while demand in the Americas appears to be better.
Despite the slowdown in the markets, demand continues to be supported by strong megatrends that are driving interest in energy-efficient glass technologies.
Here are Glaston's sales figures:
January-June 2023
Orders received totalled €110.5 (115.2) million.Net sales totalled €106.5 (105.8) million.Comparable EBITA was €6.4 (7.0) million, or 6.0 (6.6) per cent of net sales.Operating profit (EBIT) was €3.8 (4.0) million.Comparable earnings per share were €0.039 (0.037).
April-June 2023
Orders received totalled €53.6 (56.2) million.Net sales totalled €55.2 (53.5) million.Comparable EBITA was €3.4 (3.5) million, or 6.2 (6.6) per cent of net sales.Operating profit (EBIT) was €1.9 (1.8) million.Comparable earnings per share were €0.020 (0.016).
In 2023, Glaston continues to focus on the execution of its strategy, driving costs and investments ahead of the impact on sales growth.
With ongoing geopolitical tensions and increasing uncertainty in the global business environment, there is a higher than average level of unpredictability associated with investment decisions by customers, i.e. glass processing companies.
Glaston's revenue and profitability performance in 2023 continues to be supported by a full order book.
Despite the existing uncertainties, Glaston Corporation estimates that its net sales in 2023 will increase compared to the reported 2022 levels and provides its outlook for comparable EBITA, which is estimated to be between €13.7 million and €15.7 million. In 2022, the Group's full-year net sales were €213.5 million and comparable EBITA was €13.6 million.
