Glaston Corp. published its half-year financial report for the period of January 1 to June 30, 2023. In the first half of 2023, signs of increasing market uncertainty and more cautious customer behavior were visible. Due to the slowdown in the architectural market, the demand environment is expected to be softer in Europe and China during the rest of the year, while demand prospects are better in the Americas. Despite the softening of the markets, demand continues to be supported by the strong megatrends driving interest in energy-efficient glass solutions.
Key performance
- Orders received totaled $115.2 million
- Net sales totaled $105.8 million
- Comparable EBITA was $7.0 million, i.e. 6.6% of net sales
- The operating result was $4.0 million
- Comparable earnings per share were $0.037
Corporate response
"During the past three months, we have seen a slowdown in market activity in the architectural glass segment," says Anders Dahlblom, president and CEO. "Given the current market environment, our second quarter performance can be characterized as reasonably good."
"For the second half of the year, our key target is to secure our order intake in a more challenging market environment and to implement the new organizational structure," adds Dahlblom. "Supported by the order backlog, our net sales outlook for 2023 remains unchanged: it is estimated to increase from the levels reported for 2022."
