Glaston merges business segments

June 24, 2009
COMMERCIAL, FABRICATION

Glaston, Finland, has merged Pre-processing and Heat Treatment segments into a new Machines segment, according to a June 24 release. At the same time, maintenance and service business was separated from the machine business to a new Services segment.

Machines segment includes tempering, bending and laminating machines sold under
Tamglass and Uniglass brands and glass pre-processing machines sold under the Bavelloni brand as well as tools manufacturing.

Services segment includes maintenance and service of glass processing machines, sale of spare parts and tools as well as operating of glass processing factory in Akaa, Finland, on behalf of a customer.

Software Solutions segment remains unchanged, and its product offering, sold under the Albat+Wirsam brand, covers enterprise resource planning systems for the glass industry, software for window and door glass manufacturers, and software for glass processor's integrated line solutions.

The information in accordance of Glaston's new segments are presented in the tables below. Glaston's January - June interim report will be reported in accordance with the new segment structure.

On April 22, 2009, Glaston launched structural actions and closed a manufacturing plant in Cinnaminson, N.J., and transferred production to China and Finland.

SEGMENTS

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| Machines | | | | | |
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| EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| External net sales | 22.8 | 42.7 | 92.3 | 133.7 | 180.2 |
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| Internal net sales | 0.7 | 0.2 | 0.4 | 0.6 | 0.9 |
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| Net sales | 23.6 | 42.9 | 92.7 | 134.3 | 181.1 |
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| Share of associates' and | - | 0.0 | 0.0 | 0.0 | 0.0 |
| joint ventures' results | | | | | |
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| EBITDA | -4.3 | 2.9 | 7.1 | 7.7 | 10.2 |
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| EBIT excluding | -5.3 | 2.0 | 5.4 | 5.0 | 5.3 |
| non-recurring items | | | | | |
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| EBIT-% | -22.3 | 4.8 | 5.8 | 3.7 | 2.9 |
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| Non-recurring items | - | - | - | - | -9.5 |
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| EBIT | -5.3 | 2.0 | 5.4 | 5.0 | -4.2 |
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| Net working capital | 59.4 | 50.7 | 58.4 | 66.1 | 69.6 |
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| Number of personnel, | 820 | 778 | 799 | 815 | 825 |
| average | | | | | |
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| Number of personnel, end | 812 | 810 | 842 | 842 | 861 |
| of period | | | | | |
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| Services | | | | | |
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| EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| External net sales | 10.4 | 13.1 | 29.7 | 46.4 | 62.2 |
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| Internal net sales | 0.3 | 0.1 | 0.5 | 0.6 | 1.2 |
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| Net sales | 10.7 | 13.3 | 30.2 | 47.0 | 63.4 |
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| EBITDA | -1.0 | 0.9 | 2.7 | 5.5 | 8.5 |
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| EBIT excluding | -1.7 | 0.4 | 1.7 | 3.7 | 4.7 |
| non-recurring items | | | | | |
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| EBIT-% | -16.0 | 3.2 | 5.6 | 7.9 | 7.4 |
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| Non-recurring items | - | - | - | - | -2.2 |
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| EBIT | -1.7 | 0.4 | 1.7 | 3.7 | 2.5 |
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| Net working capital | 16.2 | 10.3 | 16.7 | 17.7 | 17.1 |
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| Number of personnel, | 387 | 413 | 419 | 414 | 413 |
| average | | | | | |
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| Number of personnel, end | 387 | 415 | 405 | 410 | 393 |
| of period | | | | | |
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| Software Solutions | | | | | |
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| EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| External net sales | 6.0 | 7.3 | 13.7 | 21.5 | 28.1 |
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| Internal net sales | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
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| Net sales | 6.0 | 7.3 | 13.7 | 21.5 | 28.2 |
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| Share of associates' and | - | - | - | - | 0.0 |
| joint ventures' results | | | | | |
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| EBITDA | 0.4 | 1.4 | 3.1 | 4.9 | 5.5 |
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| EBIT excluding | -0.4 | 1.0 | 2.2 | 3.6 | 3.7 |
| non-recurring items | | | | | |
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| EBIT-% | -6.0 | 13.2 | 16.0 | 16.8 | 13.3 |
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| Non-recurring items | - | - | - | - | -0.6 |
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| EBIT | -0.4 | 1.0 | 2.2 | 3.6 | 3.2 |
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| Net working capital | 7.1 | 5.3 | 5.0 | 7.0 | 5.8 |
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| Number of personnel, | 256 | 246 | 249 | 251 | 255 |
| average | | | | | |
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| Number of personnel, end of | 253 | 239 | 252 | 255 | 262 |
| period | | | | | |
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EBIT (= Operating result) = Profit / loss after depreciation, amortization and
impairment, share of joint ventures' and associates' results included
EBITDA = EBIT (= operating result) + depreciation, amortization and impairment
charges

Net working capital of segments = inventory + external trade receivables -
external trade payables - advance payments received
Non-recurring items consist of expenses arising from rationalization measures as
well as non-recurring costs for agreements and doubtful receivables from
previous years.

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| Glaston Group | | | | | |
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| Net sales | | | | | |
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| EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| Machines | 23.6 | 42.9 | 92.7 | 134.3 | 181.1 |
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| Services | 10.7 | 13.3 | 30.2 | 47.0 | 63.4 |
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| Software Solutions | 6.0 | 7.3 | 13.7 | 21.5 | 28.2 |
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| Other and internal net | -1.0 | -0.4 | -1.0 | -1.4 | -2.2 |
| sales | | | | | |
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| Glaston Group total | 39.2 | 63.1 | 135.7 | 201.5 | 270.4 |
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| EBIT | | | | | |
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| EUR million | 1-3/ | 1-3/ | 1-6/ | 1-9/ | 1-12/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| Machines | -5.3 | 2.0 | 5.4 | 5.0 | 5.3 |
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| Services | -1.7 | 0.4 | 1.7 | 3.7 | 4.7 |
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| Software Solutions | -0.4 | 1.0 | 2.2 | 3.6 | 3.7 |
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| Other and eliminations | -1.6 | -1.8 | -3.8 | -5.8 | -7.6 |
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| EBIT excluding | -9.0 | 1.6 | 5.4 | 6.5 | 6.2 |
| non-recurring items | | | | | |
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| Non-recurring items | - | - | - | - | -12.3 |
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| EBIT | -9.0 | 1.6 | 5.4 | 6.5 | -6.1 |
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| Net financial items | 0.0 | -0.5 | 1.3 | 0.2 | -2.0 |
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| Result before income taxes | -9.0 | 1.1 | 6.7 | 6.7 | -8.1 |
| and non-controlling | | | | | |
| interest | | | | | |
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| Income taxes | 0.9 | -0.5 | -3.0 | -3.6 | -1.1 |
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| Result | -8.1 | 0.6 | 3.7 | 3.1 | -9.2 |
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| Number of personnel, | 1,490 | 1,461 | 1,492 | 1,507 | 1,519 |
| average | | | | | |
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| Number of personnel, end of | 1,480 | 1,490 | 1,529 | 1,534 | 1,541 |
| period | | | | | |
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QUARTERLY SEGMENT INFORMATION
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| Machines | | | | | |
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| EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| External sales | 22.8 | 46.5 | 41.4 | 49.6 | 42.7 |
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| Intersegment sales | 0.7 | 0.3 | 0.2 | 0.3 | 0.2 |
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| Net sales | 23.6 | 46.8 | 41.6 | 49.9 | 42.9 |
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| Share of associates' and | - | 0.0 | 0.0 | 0.0 | 0.0 |
| joint ventures' results | | | | | |
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| EBITDA | -4.3 | 2.5 | 0.6 | 4.1 | 2.9 |
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| EBIT excluding | -5.3 | 0.3 | -0.4 | 3.3 | 2.0 |
| non-recurring items | | | | | |
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| EBIT-% | -22.3 | 0.7 | -0.9 | 6.6 | 4.8 |
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| Non-recurring items | - | -9.5 | - | - | - |
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| EBIT | -5.3 | -9.1 | -0.4 | 3.3 | 2.0 |
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| Services | | | | | |
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| EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| External sales | 10.4 | 15.8 | 16.6 | 16.6 | 13.1 |
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| Intersegment sales | 0.3 | 0.5 | 0.2 | 0.3 | 0.1 |
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| Net sales | 10.7 | 16.4 | 16.8 | 16.9 | 13.3 |
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| EBITDA | -1.0 | 2.9 | 2.8 | 1.9 | 0.9 |
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| EBIT excluding | -1.7 | 1.0 | 2.0 | 1.3 | 0.4 |
| non-recurring items | | | | | |
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| EBIT-% | -16.0 | 6.2 | 12.0 | 7.5 | 3.2 |
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| Non-recurring items | - | -2.2 | - | - | - |
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| EBIT | -1.7 | -1.2 | 2.0 | 1.3 | 0.4 |
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| Software Solutions | | | | | |
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| EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| External sales | 6.0 | 6.6 | 7.8 | 6.4 | 7.3 |
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| Intersegment sales | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
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| Net sales | 6.0 | 6.6 | 7.8 | 6.4 | 7.3 |
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| Share of associates' and | - | 0.0 | - | - | - |
| joint ventures' results | | | | | |
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| EBITDA | 0.4 | 0.5 | 1.9 | 1.7 | 1.4 |
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| EBIT excluding | -0.4 | 0.1 | 1.4 | 1.2 | 1.0 |
| non-recurring items | | | | | |
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| EBIT-% | -6.0 | 1.8 | 18.1 | 19.3 | 13.2 |
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| Non-recurring items | - | -0.6 | - | - | - |
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| EBIT | -0.4 | -0.4 | 1.4 | 1.2 | 1.0 |
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GLASTON GROUP QUARTERLY INFORMATION

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| Net sales | | | | | |
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| EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| Machines | 23.6 | 46.8 | 41.6 | 49.9 | 42.9 |
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| Services | 10.7 | 16.4 | 16.8 | 16.9 | 13.3 |
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| Software Solutions | 6.0 | 6.6 | 7.8 | 6.4 | 7.3 |
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| Other and intersegment | -1.0 | -0.8 | -0.4 | -0.6 | -0.4 |
| sales | | | | | |
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| Glaston Group total | 39.2 | 68.9 | 65.8 | 72.6 | 63.1 |
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| EBIT | | | | | |
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| EUR million | 1-3/ | 10-12/ | 7-9/ | 4-6/ | 1-3/ |
| | 2009 | 2008 | 2008 | 2008 | 2008 |
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| Machines | -5.3 | 0.3 | -0.4 | 3.3 | 2.0 |
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| Services | -1.7 | 1.0 | 2.0 | 1.3 | 0.4 |
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| Software Solutions | -0.4 | 0.1 | 1.4 | 1.2 | 1.0 |
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| Other and eliminations | -1.6 | -1.8 | -2.0 | -2.0 | -1.8 |
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| EBIT excluding | -9.0 | -0.3 | 1.1 | 3.8 | 1.6 |
| non-recurring items | | | | | |
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| Non-recurring items | - | -12.3 | - | - | - |
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| EBIT | -9.0 | -0.3 | 1.1 | 3.8 | 1.6 |
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