Helsinki, Finland, 2016-08-04 16:10 CEST (GLOBE NEWSWIRE) -- GLASTON CORPORATION Stock Exchange Release 4 August 2016 at 17.10
Glaston lowers its outlook
Glaston lowers its outlook for 2016. The increasing caution evident in the glass processing market in the first half of the year and the uncertain outlook in the market environment have slowed customers’ investment decisions among others in Great Britain. The glass processing market is also expected to remain challenging in the second half of the year.
Market uncertainty and extended decision-making times will impact the development of both net sales and operating profit.
Revised outlook:
Glaston expects that 2016 net sales will be approximately EUR 105 -110 million and that operating profit, excluding non-recurring items, will be approximately EUR 2 - 4 million. (In 2015 net sales were EUR 123.4 million and comparable operating profit, excluding non-recurring items, was EUR 6.1 million).
Previous outlook:
We expect 2016 net sales to be slightly below the 2015 level and that operating profit, excluding non-recurring items, will be at the 2015 level. (In 2015 net sales were EUR 123.4 million and comparable operating profit, excluding non-recurring items, was EUR 6.1 million).
Further information:
Glaston Corporation
Arto Metsänen, President & CEO, tel. +358 10 500 500
Sasu Koivumäki, Chief Financial Officer, tel. +358 10 500 500
GLASTON CORPORATION
Agneta Selroos
Communications Director
tel. +358 40 7453 737
Glaston Corporation
Glaston is a leading company in glass processing technologies. We provide high-quality heat treatment machines and services for architectural, solar, appliance and automotive applications. We are committed to our customers’ success over the entire lifecycle of our offering. Moreover, we continuously innovate and develop technologies to enable the glass processing industry to reach ever higher standards in quality and safety. Glaston’s shares (GLA1V) are listed on NASDAQ Helsinki Ltd. Further information is available at www.glaston.net
Distribution: NASDAQ Helsinki Ltd, key media, www.glaston.net