Glaston Releases Half Year Financial Report, Posts Record High Quarterly Intake in Q2
Glaston released its half year financial report. The report includes information from the company’s reporting segments: Glaston Heat Treatment, Glaston Insulating Glass and Glaston Automotive & Display.
Major takeaways
Half-year
- Orders received totaled $132.8 million
- Net sales totaled $98.2 million
Q2
- Orders received totaled $77.3 million
- Net sales totaled $50.8 million
GLASTON SPECIFIES OUTLOOK FOR 2021
The strong recovery in orders received in the first half of 2021 indicates positive development for both the machines and services business throughout 2021. The low order backlog at the start of 2021 (20 percent lower compared to the previous year) impacted Glaston’s January–June 2021 net sales and comparable operating profit. Moreover, the second half of 2021 will benefit from the strong order intake development seen in the first half of the year.
Glaston expects the heat treatment and insulating glass technology markets to continue to perform well. However, order intake for the rest of the year is expected to return to pre-COVID-19 levels after the record high second quarter.
PRESIDENT & CEO ANDERS DAHLBLOM
“In the second quarter of 2021, the strong recovery of Glaston’s markets continued and orders received increased to a record high $77.2 million. This increase is, of course, significant compared to the COVID-19 impacted second quarter of 2020 but, more importantly, new orders were as much as 48 percent higher than in the second quarter of 2019.
The strong demand for heat treatment equipment, already noted in the previous two quarters, continued throughout the second quarter, and orders received increased to EUR 24.4 million. Orders received in the Insulating Glass segment saw excellent development and increased to EUR 30.9 million”
Second-quarter net sales were $50.7 million, down 12 percent compared to the corresponding period in the previous year. Comparable EBITA was slightly above the previous year’s level ($2.8 million), despite lower net sales.
