Glaston has released its interim report
On 26 March 2018, Glaston published data restated in accordance with revenue recognition standard IFRS 15. Glaston will apply the new revenue recognition standard fully retrospectively from 1 January 2018, and therefore the interim report 1 January – 31 March 2018 is reported in accordance with the new standard for 2018 actual data and 2017 comparison data.
In the January-March 2018 period:
· Orders received grew by 23% and totalled EUR 26.5 (21.6) million.
· The order book was EUR 36.0 (39.8) million at the end of March.
· Net sales totalled EUR 24.8 (26.6) million.
· Comparable EBITDA was EUR 1.7 (1.8) million, i.e. EUR 7.0 (6.9)% of net sales.
· The comparable operating profit was EUR 1.0 (1.1) million, i.e. EUR 4.0 (4.1)% of net sales.
· Return on capital employed (ROCE) was 6.7 (8.6)%.
· Earnings per share were EUR 0.002 (0.003).
· Net interest-bearing debt amounted to EUR 7.7 (3.0) million.
The steady order intake of the previous six months and positive market development create good conditions for profitable growth in 2018. The company expects the full-year comparable operating profit to improve from 2017. (Full-year 2017 comparable operating profit was EUR 5.0 million according to the new revenue recognition standard IFRS 15).
President & CEO Arto Metsänen: "Glaston made an upbeat start to the year. The first-quarter orders grew by 23% to EUR 26.5 million, which is a good level for the generally quiet beginning of the year. There was a lot of activity in the EMEA area ...
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