Glaston Oyj Abp - Company Announcement

Glaston lowers its outlook

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