GLASTON CORPORATION Stock Exchange Release 24 June, 2009 at 14.00 p.m.
GLASTON'S NEW SEGMENTS
Glaston announced on 22 April, 2009, that it launches structural
actions to increase profitability. In addition to structural changes,
the
product portfolio and the manufacturing footprint are rationalized,
among others
by closing a manufacturing plant in Cinnaminson, USA, and by
transferring
production to China and Finland.
In accordance with the announcement, Glaston has
merged Pre-processing and Heat
Treatment segments into a new Machines
segment. At the same time, maintenance
and service business was separated
from the machine business to a new Services
segment.
Machines segment includes
tempering, bending and laminating machines sold under
Tamglass and Uniglass
brands and glass pre-processing machines sold under the
Bavelloni brand as
well as tools manufacturing.
Services
segment includes maintenance and service of glass processing machines,
sale
of spare parts and tools as well as operating of glass processing factory
in
Akaa, Finland, on behalf of a customer.
Software Solutions segment remains unchanged, and its product offering,
sold
under the Albat+Wirsam brand, covers enterprise resource planning
systems for
the glass industry, software for window and door glass
manufacturers, and
software for glass processor's integrated line
solutions.
The information in accordance of Glaston's
new segments are presented in the
tables below. Glaston's January - June
interim report will be reported in
accordance with the new segment
structure.
SEGMENTS
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Machines | | | | |
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EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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|
External net sales | 22.8 | 42.7 | 92.3 | 133.7 | 180.2
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Internal net sales | 0.7 | 0.2 | 0.4 | 0.6 | 0.9
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Net sales | 23.6 | 42.9 | 92.7 | 134.3 | 181.1
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Share of associates' and | - | 0.0 | 0.0 | 0.0 | 0.0
|
| joint ventures' results | | | | |
|
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EBITDA | -4.3 | 2.9 | 7.1 | 7.7 | 10.2
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EBIT excluding | -5.3 | 2.0 | 5.4 | 5.0 | 5.3
|
| non-recurring items | | | | |
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EBIT-% | -22.3 | 4.8 | 5.8 | 3.7 | 2.9
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Non-recurring items | - | - | - | - | -9.5
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EBIT | -5.3 | 2.0 | 5.4 | 5.0 | -4.2
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Net working capital | 59.4 | 50.7 | 58.4 | 66.1 | 69.6
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Number of personnel, | 820 | 778 | 799 | 815 | 825
|
| average | | | | |
|
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Number of personnel, end | 812 | 810 | 842 | 842 | 861
|
| of period | | | | |
|
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Services | | | | |
|
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EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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External net sales | 10.4 | 13.1 | 29.7 | 46.4 | 62.2
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Internal net sales | 0.3 | 0.1 | 0.5 | 0.6 | 1.2
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Net sales | 10.7 | 13.3 | 30.2 | 47.0 | 63.4
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EBITDA | -1.0 | 0.9 | 2.7 | 5.5 | 8.5
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EBIT excluding | -1.7 | 0.4 | 1.7 | 3.7 | 4.7
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| non-recurring items | | | | |
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EBIT-% | -16.0 | 3.2 | 5.6 | 7.9 | 7.4
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Non-recurring items | - | - | - | - | -2.2
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EBIT | -1.7 | 0.4 | 1.7 | 3.7 | 2.5
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Net working capital | 16.2 | 10.3 | 16.7 | 17.7 | 17.1
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Number of personnel, | 387 | 413 | 419 | 414 | 413
|
| average | | | | |
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Number of personnel, end | 387 | 415 | 405 | 410 | 393
|
| of period | | | | |
|
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Software Solutions | | | | |
|
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EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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External net sales | 6.0 | 7.3 | 13.7 | 21.5 | 28.1
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Internal net sales | 0.0 | 0.0 | 0.0 | 0.0 | 0.0
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Net sales | 6.0 | 7.3 | 13.7 | 21.5 | 28.2
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Share of associates' and | - | - | - | - | 0.0
|
| joint ventures' results | | | | |
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EBITDA | 0.4 | 1.4 | 3.1 | 4.9 | 5.5
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EBIT excluding | -0.4 | 1.0 | 2.2 | 3.6 | 3.7
|
| non-recurring items | | | | |
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EBIT-% | -6.0 | 13.2 | 16.0 | 16.8 | 13.3
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Non-recurring items | - | - | - | - | -0.6
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EBIT | -0.4 | 1.0 | 2.2 | 3.6 | 3.2
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Net working capital | 7.1 | 5.3 | 5.0 | 7.0 | 5.8
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Number of personnel, | 256 | 246 | 249 | 251 | 255
|
| average | | | | |
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Number of personnel, end of | 253 | 239 | 252 | 255 | 262
|
| period | | | | |
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EBIT
(= Operating result) = Profit / loss after depreciation, amortization and
impairment, share of joint ventures' and associates' results included
EBITDA = EBIT (= operating result) + depreciation, amortization and
impairment
charges
Net working capital of segments = inventory + external trade
receivables -
external trade payables - advance payments received
Non-recurring items consist of expenses arising from
rationalization measures as
well as non-recurring costs for agreements and
doubtful receivables from
previous years.
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Glaston Group | | | | |
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Net sales | | | | |
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EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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Machines | 23.6 | 42.9 | 92.7 | 134.3 | 181.1
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Services | 10.7 | 13.3 | 30.2 | 47.0 | 63.4
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Software Solutions | 6.0 | 7.3 | 13.7 | 21.5 | 28.2
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Other and internal net | -1.0 | -0.4 | -1.0 | -1.4 | -2.2
|
| sales | | | | |
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Glaston Group total | 39.2 | 63.1 | 135.7 | 201.5 | 270.4
|
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EBIT | | | | |
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EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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|
Machines | -5.3 | 2.0 | 5.4 | 5.0 | 5.3
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Services | -1.7 | 0.4 | 1.7 | 3.7 | 4.7
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|
Software Solutions | -0.4 | 1.0 | 2.2 | 3.6 | 3.7
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Other and eliminations | -1.6 | -1.8 | -3.8 | -5.8 | -7.6
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EBIT excluding | -9.0 | 1.6 | 5.4 | 6.5 | 6.2
|
| non-recurring items | | | | |
|
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Non-recurring items | - | - | - | - | -12.3
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EBIT | -9.0 | 1.6 | 5.4 | 6.5 | -6.1
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Net financial items | 0.0 | -0.5 | 1.3 | 0.2 | -2.0
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Result before income taxes | -9.0 | 1.1 | 6.7 | 6.7 | -8.1
|
| and non-controlling | | | | |
|
| interest | | | | |
|
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Income taxes | 0.9 | -0.5 | -3.0 | -3.6 | -1.1
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Result | -8.1 | 0.6 | 3.7 | 3.1 | -9.2
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Number of personnel, | 1,490 | 1,461 | 1,492 | 1,507 | 1,519
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| average | | | | |
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Number of personnel, end of | 1,480 | 1,490 | 1,529 | 1,534 | 1,541
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| period | | | | |
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QUARTERLY
SEGMENT INFORMATION
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Machines | | | | |
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EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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External sales | 22.8 | 46.5 | 41.4 | 49.6 | 42.7
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Intersegment sales | 0.7 | 0.3 | 0.2 | 0.3 | 0.2
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Net sales | 23.6 | 46.8 | 41.6 | 49.9 | 42.9
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Share of associates' and | - | 0.0 | 0.0 | 0.0 | 0.0
|
| joint ventures' results | | | | |
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EBITDA | -4.3 | 2.5 | 0.6 | 4.1 | 2.9
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EBIT excluding | -5.3 | 0.3 | -0.4 | 3.3 | 2.0
|
| non-recurring items | | | | |
|
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EBIT-% | -22.3 | 0.7 | -0.9 | 6.6 | 4.8
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Non-recurring items | - | -9.5 | - | - | -
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EBIT | -5.3 | -9.1 | -0.4 | 3.3 | 2.0
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Services | | | | |
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EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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External sales | 10.4 | 15.8 | 16.6 | 16.6 | 13.1
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Intersegment sales | 0.3 | 0.5 | 0.2 | 0.3 | 0.1
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Net sales | 10.7 | 16.4 | 16.8 | 16.9 | 13.3
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EBITDA | -1.0 | 2.9 | 2.8 | 1.9 | 0.9
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EBIT excluding | -1.7 | 1.0 | 2.0 | 1.3 | 0.4
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| non-recurring items | | | | |
|
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EBIT-% | -16.0 | 6.2 | 12.0 | 7.5 | 3.2
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Non-recurring items | - | -2.2 | - | - | -
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EBIT | -1.7 | -1.2 | 2.0 | 1.3 | 0.4
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Software Solutions | | | | |
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EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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External sales | 6.0 | 6.6 | 7.8 | 6.4 | 7.3
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Intersegment sales | 0.0 | 0.0 | 0.0 | 0.0 | 0.0
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Net sales | 6.0 | 6.6 | 7.8 | 6.4 | 7.3
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Share of associates' and | - | 0.0 | - | - | -
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| joint ventures' results | | | | |
|
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EBITDA | 0.4 | 0.5 | 1.9 | 1.7 | 1.4
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EBIT excluding | -0.4 | 0.1 | 1.4 | 1.2 | 1.0
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| non-recurring items | | | | |
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EBIT-% | -6.0 | 1.8 | 18.1 | 19.3 | 13.2
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Non-recurring items | - | -0.6 | - | - | -
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EBIT | -0.4 | -0.4 | 1.4 | 1.2 | 1.0
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GLASTON
GROUP QUARTERLY INFORMATION
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Net sales | | | | |
|
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EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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Machines | 23.6 | 46.8 | 41.6 | 49.9 | 42.9
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Services | 10.7 | 16.4 | 16.8 | 16.9 | 13.3
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Software Solutions | 6.0 | 6.6 | 7.8 | 6.4 | 7.3
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Other and intersegment | -1.0 | -0.8 | -0.4 | -0.6 | -0.4
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| sales | | | | |
|
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Glaston Group total | 39.2 | 68.9 | 65.8 | 72.6 | 63.1
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EBIT | | | | |
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EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/
|
| | 2009 | 2008 | 2008 | 2008 |
2008
|
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Machines | -5.3 | 0.3 | -0.4 | 3.3 | 2.0
|
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Services | -1.7 | 1.0 | 2.0 | 1.3 | 0.4
|
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Software Solutions | -0.4 | 0.1 | 1.4 | 1.2 | 1.0
|
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Other and eliminations | -1.6 | -1.8 | -2.0 | -2.0 | -1.8
|
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EBIT excluding | -9.0 | -0.3 | 1.1 | 3.8 | 1.6
|
| non-recurring items | | | | |
|
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|
Non-recurring items | - | -12.3 | - | - | -
|
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EBIT | -9.0 | -0.3 | 1.1 | 3.8 | 1.6
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For
additional information, please call:
Kimmo Lautanen, CFO, +358 10 500 6419
Sender:
Glaston Corporation
Agneta Selroos
IR and Communications Manager
Tel. +358 10 500 6105
Glaston Corporation
Glaston Corporation is a growing, international glass
technology company.
Glaston is the global market leader in glass
processing machines, and a
comprehensive One-Stop-Partner supplier to
its customers. Its product range and
service network are the widest in the
industry. Glaston's well-known brands are
Bavelloni in pre-processing
machines and tools, Tamglass and Uniglass in safety
glass machines, and
Albat+Wirsam in glass industry software.
Glaston's share
(GLA1V) is listed on the NASDAQ OMX Helsinki Mid Cap List.
www.glaston.net
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