Glaston Oyj Abp - Company Announcement

Glaston updates its strategy and financial targets and announces updated dividend policy

Helsinki, Finland, 2016-03-09 12:30 CET (GLOBE NEWSWIRE) -- 
Glaston Corporation                      Stock Exchange Release          9
March 2016  at 13.30 

Glaston updates its strategy and financial targets and announces updated
dividend policy 

Glaston’s Board of Directors has confirmed the company’s new strategic
priorities and financial targets for the period 2016–2018. Glaston is moving to
a new strategic phase. The cornerstones are growth, technology leadership and
the industry’s best customer experience. 

Glaston aims to be its industry’s leading pioneer, whose identifying
characteristics are technology leadership and high quality. Glaston’s core
expertise is in flat tempering technology. Through its continuous product
development and regularly renewed product offering, Glaston will further
strengthen its position and competitiveness in the market as well as in new
machine sales and services. The growth target will be supported by growing
demand for architectural glass. 

To support its core business, Glaston will seek growth opportunities not only
in flat tempering technology but also in other safety glass groups, such as
bending, tempering-bending and laminating. Innovative glass technologies and
digitalisation will bring significant new business opportunities to Glaston. 

An extensive and increasing installed machine base creates the foundation for
growth in services. 

Financial targets
Glaston expects the glass machine market to grow at around 3-5% per year up to
2018. 

Glaston’s financial objectives for the period 2016–2018 are:
- Annual growth of net sales exceeding market growth (CAGR)
- Operating profit margin (EBIT) above 8%, excluding non-recurring items, at
the end of the period 
- Return on capital employed (ROCE) of more than 20% at the end of the period

Dividend policy
Glaston’s Board of Directors adopted an updated dividend policy according to
which the objective is to distribute annually a dividend or return of capital
amounting to 30-50% of the company’s earnings per share, excluding
non-recurring items. 

When determining the amounts and dates of payment of any future dividends or
returns of capital the Board of Directors always takes the company’s financial
position and future outlook into consideration. In addition, the dividend
policy takes into account growth targets in line with strategy as well as
financing requirements for growth. 

Further information: President & CEO Arto Metsänen, tel. +358 10 500 500



GLASTON CORPORATION
Agneta Selroos
Communications Director





Glaston Corporation
Glaston is a global company developing glass processing technology for
architectural, solar, appliance and automotive applications. Our product
portfolio ranges from pre-processing and safety glass machines to services. We
are dedicated to our customers' continued success and provide services for all
glass processing needs with a lifecycle-long commitment in mind. Further
information is available at www.glaston.net Glaston’s share (GLA1V) is listed
on NASDAQ Helsinki Ltd's Small Cap List. 

Distribution: NASDAQ Helsinki Ltd, key media, www.glaston.net