Operation Negotiations In Its Finnish Units

Glaston Oyj Abp

02/10/2019 07:09

Oct 2 (Reuters) - Glaston Oyj Abp  GLA1V.HE :
    * GLASTON INITIATES CO-OPERATION NEGOTIATIONS IN ITS FINNISH
UNITS
DUE TO WEAKENING DEMAND IN HEAT TREATMENT EQUIPMENT - OUTLOOK
FOR 2019 REMAINS UNCHANGED
    * ESTIMATES THAT NEGOTIATIONS COULD LEAD TO TERMINATION OF
APPROXIMATELY 20 EMPLOYMENT CONTRACTS.
    * MEASURES, IN COMBINATION WITH OTHER PROFITABILITY
IMPROVING
ACTIONS, TARGET SAVINGS OF APPROXIMATELY EUR 2 MILLION.
    * GLASTON CORPORATION ESTIMATES ITS 2019 COMPARABLE PRO
FORMA
EBITA TO BE AT 2018 LEVEL OR TO SLIGHTLY IMPROVE (2018
COMPARABLE PRO FORMA EBITA EUR 11.5 MILLION).
    * SEGMENT'S 2019 FULL-YEAR PROFIT WILL BE SKEWED TOWARDS Q4.
    * CO-OPERATION NEGOTIATIONS ARE EXPECTED TO BE CONCLUDED BY
END OF
NOVEMBER
    * COMPANY'S FULL-YEAR 2019 PROFITABILITY GUIDANCE REMAINS
UNCHANGED
    * GLASTON CORPORATION ESTIMATES ITS 2019 COMPARABLE PRO
FORMA
EBITA TO BE AT 2018 LEVEL OR TO SLIGHTLY IMPROVE (2018
COMPARABLE PRO FORMA EBITA EUR 11.5 MILLION)
    * Q3 ORDER INTAKE FOR HEAT TREATMENT TECHNOLOGIES WILL BE
LOWER
THAN EXPECTED AND APPROXIMATELY 20% LOWER THAN IN 2018
    * CO-OPERATION NEGOTIATIONS CONCERN BOTH TEMPORARY LAY-OFFS
AND
TERMINATION OF EMPLOYMENT CONTRACTS

Source text for Eikon:  ID:nWkr1swMDd 
Further company coverage:  GLA1V.HE 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))