Brief: Glaston Q1 Net Sales Up At EUR 46.9 Mln

Glaston Oyj Abp

28/04/2020 11:45

April 28 (Reuters) - Glaston Oyj Abp  GLA1V.HE :
    * GLASTON CORPORATION Q1/2020: ORDERS RECEIVED WERE STABLE
AND NET
SALES GREW, COMPARABLE EBITA FOR 2020 ESTIMATED TO DECLINE FROM
2019
    * Q1 NET SALES EUR 46.9 MILLION VERSUS EUR 20.8 MILLION YEAR
AGO
    * GLASTON'S OUTLOOK FOR 2020 UPDATED
    * Q1 NET SALES EUR GLASTON'S OUTLOOK FOR 2020 UPDATED
MILLION
VERSUS EUR 20.8 MILLION YEAR AGO
    * Q1 NET SALES EUR ESTIMATES THAT COMPARABLE EBITA FOR 2020
WILL
DECLINE FROM 2019 LEVEL. MILLION VERSUS EUR 20.8 MILLION YEAR
AGO
    * Q1 OF 2020 WAS SATISFACTORY GIVEN PREVAILING CONDITIONS.
    * Q1 NET SALES EUR EXTENT OF DECLINE CANNOT BE RELIABLY
ASSESSED
AT THIS STAGE MILLION VERSUS EUR 20.8 MILLION YEAR AGO
    * Q1 NET SALES EUR CURRENT ASSESSMENT IS THAT ORDERS
RECEIVED IN
SECOND AND THIRD QUARTERS WILL BE AT A LOWER LEVEL THAN NORMAL.
MILLION VERSUS EUR 20.8 MILLION YEAR AGO
    * POSTPONEMENT OF DELIVERY OF SOME ORDERS WILL IMPACT
DEVELOPMENT
OF NET SALES AND EARNINGS IN NEAR FUTURE
    * Q1 NET SALES EUR EXCEPTIONALLY HIGH UNCERTAINTY SURROUNDS
ASSESSMENTS, AND SITUATION MIGHT CHANGE VERY QUICKLY. MILLION
VERSUS EUR 20.8 MILLION YEAR AGO
    * DEMAND FOR INSULATING GLASS MACHINES GREW STRONGLY,
COMPENSATING
FOR WEAKNESS IN DEMAND FOR AUTOMOTIVE GLASS MACHINES THAT HAD
ALREADY BEEN EVIDENT FOR SOME TIME
    * DEMAND FOR HEAT TREATMENT MACHINES WAS NEARLY AT PREVIOUS
YEAR'S
LEVEL.
    * EXPECT THAT COMPARABLE EBITA FOR 2020 WILL DETERIORATE
FROM 2019
LEVE
    * DUE TO LOW VISIBILITY AND RAPID MARKET MOVEMENTS, EXTENT
OF
DETERIORATION CANNOT BE RELIABLY ASSESSED AT THIS STAGE
    * CURRENTLY, WE CONSIDER THAT ORDERS RECEIVED IN SECOND AND
THIRD
QUARTERS WILL BE AT A LOWER LEVEL THAN NORMAL

Source text for Eikon:  ID:nWkr6qx9kW 
Further company coverage:  GLA1V.HE 

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