New Risk • Jun 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Finnish stocks, typically moving 7.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.7% average weekly change). Minor Risk Market cap is less than US$100m (€46.2m market cap, or US$53.3m). Announcement • Jun 05
Glaston Corporation Announces Appointment of Tuomo Nuottimäki as SVP EMEAI , Effective July 1, 2026 Glaston Corporation renewed its commercial leadership structure to have leadership closer to customers in each of its markets. As part of this, Glaston dividend its former EMEA + APAC market area into two market areas: Europe, Middle East, Africa and India (EMEAI) and China & Southeast Asia (SEA). The changes take effect on July 1, 2026. In this connection, Tuomo Nuottimäki, currently VP Sales MEA+ SEAI, was appointed SVP EMEAI and a member of the Executive Leadership Team. Tuomo Nuottimäki will report to CEO Miika Äppelqvist. For over 20 years, Nuottimäki, M.Sc. (Eng.), has held various sales leadership roles at Glaston and brings valuable customer insight to the leadership team. Announcement • May 09
Glaston Corporation Announces Departure of Kimmo Kuusela as EVP Sales & Service, EMEA & APAC and Executive Leadership Team Member , Effective June 30, 2026 Glaston Corporation announced that its EVP Sales & Service, EMEA & APAC and member of Glaston's Executive Leadership Team, Kimmo Kuusela, will leave Glaston. He will continue to work for the company until June 30, 2026. Kimmo Kuusela joined Glaston in 2005 and has been member of the Executive Leadership Team since 2025. Price Target Changed • May 08
Price target decreased by 7.7% to €1.20 Down from €1.30, the current price target is provided by 1 analyst. New target price is 9.1% above last closing price of €1.10. Stock is down 18% over the past year. The company is forecast to post earnings per share of €0.043 for next year compared to €0.028 last year. Reported Earnings • May 02
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: €0.016 (up from €0.005 in 1Q 2025). Revenue: €41.2m (down 21% from 1Q 2025). Net income: €700.0k (up 250% from 1Q 2025). Profit margin: 1.7% (up from 0.4% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) exceeded analyst estimates by 129%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 22
Consensus EPS estimates fall by 45% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €188.5m to €184.2m. EPS estimate also fell from €0.071 per share to €0.039 per share. Net income forecast to grow 34% next year vs 20% growth forecast for Machinery industry in Finland. Consensus price target down from €1.30 to €1.25. Share price was steady at €1.16 over the past week. Announcement • Apr 17
Glaston Oyj Abp Announces Board Changes Glaston Oyj Abp at the Annual General Meeting held on 16 April 2026 elected Sandra Wickström as a new member. The Board of Director was elected for a term continuing until the close of the next Annual General Meeting. In its organization meeting held after the Annual General Meeting, he Board of Directors determined the composition of the Board committees as follows: Audit Committee: Arja Talma (Chair), Antti Kaunonen and Sandra Wickström were elected as members of the Audit Committee of the Board of Directors. People and Remuneration Committee: Veli-Matti Reinikkala (Chair), Sebastian Bondestam, Michael Willome and Tina Wu were elected as members of the People and Remuneration Committee of the Board of Directors. New Risk • Apr 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Finnish stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (€55.3m market cap, or US$65.1m). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to €1.32, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Machinery industry in Finland. Total loss to shareholders of 28% over the past three years. Announcement • Apr 10
Glaston Corporation Announces Executive Changes, Effective April 17, 2026 Glaston Corporation's SVP People & Culture and member of the Executive Leadership Team, Riikka Laitasalo, has decided to leave the company to pursue new opportunities outside Glaston. Riikka Laitasalo will leave the company on April 17, 2026. In connection with the change, Glaston will not initiate a recruitment process for a similar role but will reorganize Group-level People & Culture responsibilities. Going forward, these responsibilities will be overseen by the CEO together with the General Counsel. Reported Earnings • Mar 30
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.028 (down from €0.059 in FY 2024). Revenue: €209.1m (down 4.4% from FY 2024). Net income: €1.19m (down 52% from FY 2024). Profit margin: 0.6% (down from 1.1% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 16
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.029 (down from €0.059 in FY 2024). Revenue: €209.1m (down 4.4% from FY 2024). Net income: €1.20m (down 52% from FY 2024). Profit margin: 0.6% (down from 1.1% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Feb 13
Glaston Corporation Provides Group Earnings Guidance for the Full Year 2026 Glaston Corporation provided group earnings guidance for the year 2026. For the year, the company estimates that its net sales will decrease in 2026 from the levels reported for 2025. In 2025, Group net sales totaled EUR 208.8 million. Reported Earnings • Nov 02
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: €0.056 (up from €0.032 in 3Q 2024). Revenue: €56.9m (up 2.2% from 3Q 2024). Net income: €2.30m (up 77% from 3Q 2024). Profit margin: 4.0% (up from 2.3% in 3Q 2024). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Oct 30
Glaston Corporation Unchanges Earnings Guidance for the Year 2025 Glaston Corporation unchanged earnings guidance for the year 2025. For the year, Glaston's outlook remains unchanged and the company estimates that its net sales and comparable EBITA will decrease from the level of the previous year. Glaston expects net sales to be EUR 206 million to EUR 215 million. In 2024, Group net sales totaled EUR 217.9 million. Announcement • Aug 19
Glaston Oyj Abp to Report Fiscal Year 2026 Results on Apr 01, 2027 Glaston Oyj Abp announced that they will report fiscal year 2026 results on Apr 01, 2027 Reported Earnings • Aug 10
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: €0.035 loss per share (down from €0.012 profit in 2Q 2024). Revenue: €52.2m (up 4.4% from 2Q 2024). Net loss: €1.50m (down 400% from profit in 2Q 2024). Revenue exceeded analyst estimates significantly. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Announcement • Jul 22
Glaston Corporation Lowers Earnings Guidance for Full Year 2025 Glaston Corporation lowered earnings guidance for full year 2025. For the full year, the company now expects net sales to be EUR 206-215 million against the previous outlook of EUR 217.9 million. Announcement • Jun 26
Glaston Corporation Appoints Executive Leadership Team Members Glaston Corporation has made two appointments to the Executive Leadership Team (ELT). Minna Toiviainen, Master of Laws, M.Sc Economics and Business Administration, has been appointed as General Counsel, effective September 15, 2025. She joins Glaston from VINCI Energies Finland, where she held the General Counsel position. Prior to this, she served as General Counsel at Mint of Finland Group, Senior Legal Counsel at Kalmar, and in various legal and project management positions at Cargotec Corporation. Toiviainen brings extensive in-house counsel and leadership experience in a global business context. Jens Mayr, M.Sc. Business Administration, has been appointed as EVP Solutions and Operations, starting July 1, 2025. Since joining Glaston in connection with the Bystronic glass acquisition in 2019, Jens Mayr has held various leadership positions related to Insulating Glass technologies, Sales Operations, China Strategy, and Business Control. Prior to Glaston, he worked for 10 years at MAG IAS/Fair Friend Group as EVP Finance and in other Finance positions. Additionally, the current Business Function Service Supply & Development will be renamed as Services, and will continue to be led by Robert Jenks, starting July 1, 2025. Major Estimate Revision • May 13
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €217.0m to €212.2m. EPS estimate also fell from €0.084 per share to €0.073 per share. Net income forecast to grow 112% next year vs 19% growth forecast for Machinery industry in Finland. Consensus price target down from €1.70 to €1.50. Share price fell 4.8% to €1.31 over the past week. Reported Earnings • May 07
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: €0.002 (down from €0.019 in 1Q 2024). Revenue: €52.2m (down 6.6% from 1Q 2024). Net income: €200.0k (down 75% from 1Q 2024). Profit margin: 0.4% (down from 1.4% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 16
Glaston Oyj Abp Announces Board and Committee Changes Glaston Corporation at its AGM held on 16 April 2025 elected Tina Wu as a new member. Arja Talma (Chair), Tina Wu and Tero Telaranta were elected as members of the Audit Committee of the Board of Directors and Veli-Matti Reinikkala (Chair), Sebastian Bondestam, Antti Kaunonen and Michael Willome were elected as members of the People and Remuneration Committee of the Board of Directors. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: €0.029 (vs €0.06 in FY 2023) Full year 2024 results: EPS: €0.029 (down from €0.06 in FY 2023). Revenue: €218.7m (flat on FY 2023). Net income: €2.48m (down 51% from FY 2023). Profit margin: 1.1% (down from 2.3% in FY 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Mar 18
Glaston Corporation Announces Executive Changes Glaston Corporation announced that Robert Jenks has been appointed EVP Service Supply & Development and a member of the Executive Leadership Team of Glaston Corporation. Jenks holds degrees in MSc Business Administration and BSc Production & Operations Management. He will take up his position on 1 April 2025 and report to President & CEO Toni Laaksonen. Robert Jenks has substantial supply chain experience. He has led the Supply Chain Management function for Outotec's service business, as well as the global spare parts Supply Chain Operations at KONE. He joins Glaston from Nokia, where he led the Business Operations for the Supply Chain Management organization in Mobile Networks, as well as the Supply Chain Excellence strategy and transformation. Kaisa Latva, General Counsel and member of the Executive Leadership Team since April 2023, has decided to leave Glaston to join a new employer. She will continue in her position until August 2025, at the latest. The recruitment process for her successor will begin immediately. Announcement • Mar 01
Glaston Corporation Proposes No Dividend for the Financial Year 2024 The Board of Directors Glaston Oyj Abp proposed to the Annual General Meeting to be held on 16 April 2025 that the result for the financial year 2024 be placed in retained earnings and no dividend be paid. Announcement • Feb 28
Sarlotta Narjus Is Not Available for Re-Election as Board Member of Glaston Corporation Glaston Corporation propose to the Annual General Meeting to be held on 16 April 2025, that the current Board of Directors member Sarlotta Narjus has informed that she will not be available for re-election. Announcement • Feb 18
Glaston Corporation Announces Resignation of Toni Laaksonen as CEO Toni Laaksonen has submitted a resignation from his position as the CEO of Glaston Corporation to join another company. The exact transition date will be communicated in due course. Price Target Changed • Feb 17
Price target decreased by 15% to €0.85 Down from €1.00, the current price target is provided by 1 analyst. New target price is 11% above last closing price of €0.77. Stock is down 7.7% over the past year. The company is forecast to post earnings per share of €0.042 for next year compared to €0.029 last year. Reported Earnings • Feb 15
Full year 2024 earnings released: EPS: €0.029 (vs €0.06 in FY 2023) Full year 2024 results: EPS: €0.029 (down from €0.06 in FY 2023). Revenue: €220.7m (flat on FY 2023). Net income: €2.50m (down 50% from FY 2023). Profit margin: 1.1% (down from 2.3% in FY 2023). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Board Change • Jan 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. Independent Director Arja Talma was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 18
Glaston Oyj Abp Announces CFO Changes Glaston Oyj Abp announced that M.Sc. (Econ.) Magnus Sjöblom has been appointed as Glaston's new Chief Financial Officer (CFO) and member of the Executive Leadership Team. Magnus Sjöblom will take up this position on March 1, 2025, and will report to CEO Toni Laaksonen. Magnus Sjöblom joined Glaston in 2022 and takes over as CFO from the position of VP, Business Control & Strategy. Prior to Glaston, Magnus Sjöblom worked for Posti Group Oyj, where he was Head of Finance, Media and Partners 2019-2022. Before that, he held various financial leadership roles at UPM, Microsoft and Nokia. As communicated on December 4, 2024, Glaston’s current CFO Päivi Lindqvist will leave the company on March 16, 2025. She will join Patria Oyj. Announcement • Dec 04
Päivi Lindqvist to Leave as Chief Financial Officer of Glaston Corporation, Effective March 16, 2025 Glaston Corporation announced that its Chief Financial Officer (CFO) and member of Glaston's Executive Leadership Team, Päivi Lindqvist has decided to leave the company to join a new employer. She will continue to work for the company until March 16, 2025. Päivi Lindqvist has been Glaston's CFO and a member of the Executive Leadership Team since 2016. The appointment of the new CFO will be communicated in due course. Announcement • Oct 10
Robert Prange to Leave as Member of the Executive Leadership Team and SVP Automation & SCM of Glaston Corporation on 13 October 2024 Glaston Corporation announced that its member of the Executive Leadership Team and SVP Automation & SCM, Robert Prange, has decided to leave the company on 13 October 2024 to pursue new opportunities outside Glaston. The Automation & Innovation as well as Sourcing & Supply Chain Management business functions will start reporting to the Business Areas and global functions as an interim solution. No recruitment process for a similar SVP Leadership Team position will be started. Announcement • Sep 11
Glaston Corporation Announces Nomination Board Glaston Oyj Abp announced that based on the ownership on 2 September 2024, the following persons have been nominated as the members of the Nomination Board: Jyrki Vainionpää (Ahlstrom Capital BV), Jaakko Kurikka (Hymy Lahtinen Oy), Pekka Pajamo (Varma Mutual Pension Insurance Company), and Esko Torsti (Ilmarinen Mutual Pension Insurance Company). Veli-Matti Reinikkala, Chair of the Company’s Board of Directors, serves as an advisory member of the Nomination Board. In its organizing meeting on 9 September 2024, the Nomination Board elected Jyrki Vainionpää amongst its members as the Chair. Announcement • Aug 12
Glaston Oyj Abp, Annual General Meeting, Apr 16, 2025 Glaston Oyj Abp, Annual General Meeting, Apr 16, 2025. Announcement • Aug 07
Glaston Plans to Transfer Production of All Glass Pre-Processing Equipment to China Glaston is planning to transfer the production of mobility and display pre-processing equipment products from Glaston Switzerland to Glaston's factory in Tianjin, China. The aim is to further streamline Glaston's global production capabilities, adjust capacity to meet customer demand, and improve operational efficiencies while continuing to serve customers globally close to their markets. The mobility glass segment's growth is fastest in Asia while being modest in other regions. In the first half of 2024 over 90% of Glaston's pre-processing equipment order intake was from APAC, mainly from China. The plan would entail maintaining Sales and Services functions in Bützberg, Switzerland, to leverage the installed base and ensure strengthened service capabilities for life-cycle support to customers. Detailed planning will be conducted with teams in Switzerland and China to ensure a successful knowledge transfer and continuation of quality operations. The planned pre-processing offering production transfer to China would affect an estimated 30 employees in Switzerland. A consultation procedure with employee representatives will be conducted in accordance with local processes. The process is expected to be completed by early September 2024. Currently, 66 employees are located in Switzerland. The expected personnel increase in China is approximately 20 new employees. Reported Earnings • May 03
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: €0.01 (down from €0.013 in 1Q 2023). Revenue: €56.6m (up 10% from 1Q 2023). Net income: €800.0k (down 27% from 1Q 2023). Profit margin: 1.4% (down from 2.1% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 03
Glaston Corporation Provides Sales Guidance for the Full Year 2024 Glaston Corporation provided sales guidance for the full year 2024. Glaston started the year with a lower order backlog than the previous year. However, given the expected slowly improving market activity during the year, the company estimates that its net sales will stay at the same level or increase slightly in 2024 from the levels reported for 2023. Announcement • Apr 26
Glaston Oyj Abp Announces Executive Changes Glaston Oyj Abp announced that member of the Executive Leadership Team and SVP Services, Artturi Mäki, has decided to leave the company on 30 April 2024 to pursue new opportunities outside Glaston. Mäki joined Glaston in 2016. As of 1 May 2024, interim CEO Antti Kaunonen takes over an interim role of leading the Glaston Services business, in addition to his interim CEO role. No immediate recruitment process for SVP Services will be started. As of 1 May 2024, the Executive Leadership Team constitutes of: Antti Kaunonen, Interim CEO. Sasu Koivumäki, Chief Sales Officer, Deputy CEO. Miika Äppelqvist, SVP Architecture. José Yepes, SVP Mobility, Display & Solar b. Robert Prange, SVP Automation & SCM. Päivi Lindqvist, Chief Financial Officer. Kaisa Latva, General Counsel. Riikka Laitasalo, SVP People and Culture. Announcement • Apr 10
Glaston Oyj Abp Resolves Return of Capital to Be Distributed for the Financial Year Ended on 31 December 2023, Payable on April 25, 2024 Glaston Oyj Abp at the General Meeting held on April 9, 2024, resolved that a return of capital of EUR 0.05 per share be distributed for the financial year ended on 31 December 2023. The return of capital will be paid to shareholders who are registered in the company’s register of shareholders, maintained by Euroclear Finland Ltd, on the record date for payment, April 11, 2024. The return of capital will be paid on April 25, 2024. Upcoming Dividend • Apr 03
Upcoming dividend of €0.05 per share Eligible shareholders must have bought the stock before 10 April 2024. Payment date: 25 April 2024. Trailing yield: 5.9%. Within top quartile of Finnish dividend payers (5.8%). Higher than average of industry peers (3.6%). Announcement • Mar 22
Glaston Oyj Abp Announces CEO Changes Glaston Oyj Abp announced the appointment of M.Sc. (Tech.) and B.Sc. (Econ.) Toni Laaksonen (born 1982) as CEO. Toni Laaksonen joins Glaston from Metso Corporation, where he has been working from 2019 as Senior Vice President of Materials Processing Products. The Business line covers global business in more than 50 countries with about 1,000 employees. Prior to this position, Laaksonen has held various business line and services sales leadership positions in Metso and Outotec before it became a part of Metso, as well as project management and business controller positions in ABB. In addition, he has served as Vice President, Parcel Services at Posti Group and worked as a Research Scientist at VTT Technical Research Centre of Finland at the beginning of his career. Toni Laaksonen will assume his new position at the latest at the end of September 2024. Antti Kaunonen has served as the company's interim CEO from 15 November 2023 and will continue in this role until Toni Laaksonen takes office. After this, Kaunonen will continue in his position as a member of the Board of Directors and will resume his position as a member of the Board's People and Remuneration Committee. Reported Earnings • Mar 21
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: €0.06 (up from €0.037 in FY 2022). Revenue: €220.3m (up 2.9% from FY 2022). Net income: €5.04m (up 63% from FY 2022). Profit margin: 2.3% (up from 1.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Mar 16
Glaston Oyj Abp Proposes Dividend for the Financial Period 2023, Payable on 25 April 2024 Glaston Oyj Abp Board of Directors proposed to the Annual General Meeting to be held on 9 April 2024 that based on the balance sheet to be adopted for the financial period 2023, a return of capital of EUR 0.05 per share to be distributed a total of EUR 4,201,996. The return of capital will be paid from the reserve for invested unrestricted equity to shareholders who are registered in the Company’s register of shareholders, maintained by Euroclear Finland Ltd, on the record date for payment, 11 April 2024. The Board of Directors proposes to the Annual General Meeting that the return of capital shall be paid on 25 April 2024. Major Estimate Revision • Feb 22
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from €216.1m to €221.6m. EPS estimate increased from €0.071 to €0.08 per share. Net income forecast to grow 37% next year vs 12% growth forecast for Machinery industry in Finland. Consensus price target up from €0.90 to €1.03. Share price rose 11% to €0.82 over the past week. Declared Dividend • Feb 21
Dividend increased to €0.05 Dividend of €0.05 is 25% higher than last year. Ex-date: 10th April 2024 Payment date: 25th April 2024 Dividend yield will be 6.1%, which is higher than the industry average of 3.4%. Sustainability & Growth The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Reported Earnings • Feb 16
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: €0.06 (up from €0.037 in FY 2022). Revenue: €222.2m (up 3.8% from FY 2022). Net income: €5.00m (up 62% from FY 2022). Profit margin: 2.3% (up from 1.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Feb 15
Glaston Oyj Abp Provides Sales Guidance for the Year 2024 Glaston Corporation estimated that its net sales will stay at the same level or increase slightly in 2024 from the levels reported for 2023. Announcement • Dec 27
Glaston Oyj Abp to Report Fiscal Year 2023 Final Results between Mar 18, 2024 and Mar 24, 2024 Glaston Oyj Abp announced that they will report fiscal year 2023 final results on between Mar 18, 2024 and Mar 24, 2024 Announcement • Nov 17
Glaston Corporation Announces Executive Changes Glaston Corporation announced Anders Dahlblom has submitted a resignation from his position as the CEO of the company on 15 November 2023 due to personal reasons. The Board will start the search for a new CEO immediately. In connection with this, the company's board of directors has on 15 November 2023 nominated Antti Kaunonen as the interim CEO. Antti Kaunonen will take this position immediately. Kaunonen has served as a member of the company's Board since 2018 and has extensive experience in senior leadership positions in industrial companies, latest as the president of Kalmar, part of Cargotec (2015-2022). He will continue in the Board but will step down from his role as a member of the Board's People and Remuneration Committee. Dahlblom will support the interim CEO during a transition period. Otherwise, the company's strategy, business operations and management will continue without changes. Major Estimate Revision • Nov 02
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €220.0m to €216.5m. EPS estimate also fell from €0.068 per share to €0.053 per share. Net income forecast to grow 39% next year vs 38% growth forecast for Machinery industry in Finland. Consensus price target of €0.90 unchanged from last update. Share price rose 8.1% to €0.75 over the past week. Price Target Changed • Oct 30
Price target decreased by 12% to €0.90 Down from €1.03, the current price target is an average from 2 analysts. New target price is 27% above last closing price of €0.71. Stock is down 18% over the past year. The company is forecast to post earnings per share of €0.052 for next year compared to €0.037 last year. Announcement • Oct 28
Glaston Corporation Revises Earnings Guidance for the Year 2023 Glaston Corporation revised earnings guidance for the year 2023. The company specified its net sales estimate and expects net sales in 2023 to grow marginally or to be on the same level as reported for 2022. The company continues to estimate that comparable EBITA will increase to EUR 13.7 million to EUR 15.7 million. (Previous outlook: Despite the prevailing uncertainties, the company estimated that its net sales will increase in 2023 from the levels reported for 2022 and estimates comparable EBITA to increase to EUR 13.7 million to EUR 15.7 million.). Reported Earnings • Oct 27
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: €0.01 (up from €0.002 in 3Q 2022). Revenue: €53.9m (up 13% from 3Q 2022). Net income: €800.0k (up 300% from 3Q 2022). Profit margin: 1.5% (up from 0.4% in 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 18
Price target decreased by 9.3% to €0.97 Down from €1.08, the current price target is an average from 2 analysts. New target price is 30% above last closing price of €0.75. Stock is down 16% over the past year. The company is forecast to post earnings per share of €0.068 for next year compared to €0.037 last year. Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Arja Talma was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 08
Glaston Corporation Announces Members of its Nomination Board Glaston Corporation's shareholders' Nomination Board shall consist of four members, of whom the Company's four largest shareholders shall have the right to appoint one member each. Such company's four largest shareholders shall be determined annually on the basis of the registered holdings in the company's shareholder register held by Euroclear Finland Ltd. on the first working day in September. Additionally, the Chairman of the Company's Board of Directors shall serve as an advisory member of the Nomination Board. Based on the ownership on 1 September 2023, the following persons have been nominated as the members of the Nomination Board: Lasse Heinonen (Ahlstrom Capital BV), Jaakko Kurikka (Hymy Lahtinen Oy), Pekka Pajamo (Varma Mutual Pension Insurance Company), Esko Torsti (Ilmarinen Mutual Pension Insurance Company). Veli-Matti Reinikkala, Chairman of the Company's Board of Directors, serves as an advisory member of the Nomination Board. In its organizing meeting on 7 September 2023, the Nomination Board elected Lasse Heinonen amongst its members as the Chairman. The Nomination Board prepares and presents for the next Annual General Meeting and, if necessary, to an Extraordinary General Meeting, proposals concerning the number of Members of the Board of Directors, a proposal on the identities of the members of the Board of Directors, and a proposal on the remuneration of the members of the Board of Directors. An additional task of the Nomination Board is to seek candidates as potential members of the Board of Directors. The Nomination Board shall give its proposals to the Board of Directors by 31 January 2024, at the latest. Announcement • Jun 22
Glaston Appoints José Yepes as SVP Mobility, Display & Solar José Yepes, Mechanical Engineer and MAS, Business Engineering Management, has been appointed as Senior Vice President for Glaston Corporation's new Business Area Mobility, Display & Solar and a member of the Executive Management Group. José Yepes will take up his position on 1 October 2023 when Glaston's new organization will come into effect. In his position, he reports to President & CEO Anders Dahlblom. José Yepes moves from the position as Vice President Sales at Glaston's Automotive & Display Business, a role he has held since he joined Glaston Switzerland AG (formerly Bystronic Maschinen AG) in 2014. Prior to this, he has served in different sales management positions at Ammann Switzerland AG. Announcement • May 27
Glaston Appoints Riikka Laitasalo SVP People and Culture Glaston has appointed Riikka Laitasalo, M.Sc. (Econ.) as SVP People and Culture and a member of the Executive Management Group. She will start in her position on 1 August 2023 and will report to President & CEO Anders Dahlblom. Riikka Laitasalo moves to Glaston from the position as HR Director, Integrated Supply Chain at Kalmar, a business area of Cargotec Corporation. Prior to this, Riikka Laitasalo has served in various Human Resources positions at Kalmar and KONE Corporation. Buying Opportunity • May 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be €1.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.6% per annum. Earnings is also forecast to grow by 22% per annum over the same time period. Buying Opportunity • May 04
Now 20% undervalued Over the last 90 days, the stock is up 3.0%. The fair value is estimated to be €1.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Upcoming Dividend • Mar 29
Upcoming dividend of €0.04 per share at 4.1% yield Eligible shareholders must have bought the stock before 05 April 2023. Payment date: 20 April 2023. Trailing yield: 4.1%. Lower than top quartile of Finnish dividend payers (5.1%). Higher than average of industry peers (3.7%). Reported Earnings • Mar 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: €0.037 (up from €0.013 in FY 2021). Revenue: €213.5m (up 17% from FY 2021). Net income: €3.10m (up 179% from FY 2021). Profit margin: 1.5% (up from 0.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.3%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 10
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: €0.037 (up from €0.013 in FY 2021). Revenue: €217.1m (up 19% from FY 2021). Net income: €3.10m (up 179% from FY 2021). Profit margin: 1.4% (up from 0.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.3%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to €1.15 Down from €1.25, the current price target is an average from 2 analysts. New target price is 28% above last closing price of €0.90. Stock is down 24% over the past year. The company is forecast to post earnings per share of €0.041 for next year compared to €0.013 last year. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €220.4m to €217.9m. EPS estimate also fell from €0.05 per share to €0.04 per share. Net income forecast to grow 273% next year vs 43% growth forecast for Machinery industry in Finland. Consensus price target of €1.15 unchanged from last update. Share price rose 4.0% to €0.89 over the past week. Reported Earnings • Oct 27
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: €0.002 (down from €0.015 in 3Q 2021). Revenue: €48.8m (up 5.2% from 3Q 2021). Net income: €200.0k (down 85% from 3Q 2021). Profit margin: 0.4% (down from 2.8% in 3Q 2021). Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) also missed analyst estimates by 80%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Machinery industry in Finland. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 18
Price target decreased to €1.20 Down from €1.30, the current price target is an average from 2 analysts. New target price is 33% above last closing price of €0.90. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.053 for next year compared to €0.013 last year. Reported Earnings • Aug 05
Second quarter 2022 earnings: EPS misses analyst expectations Second quarter 2022 results: EPS: €0.005 (vs €0.005 in 2Q 2021). Revenue: €54.9m (up 27% from 2Q 2021). Net income: €400.0k (flat on 2Q 2021). Profit margin: 0.7% (down from 0.9% in 2Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 71%. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jul 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.08 to €0.07 per share. Revenue forecast steady at €222.3m. Net income forecast to grow 118% next year vs 20% growth forecast for Machinery industry in Finland. Consensus price target down from €1.30 to €1.25. Share price was steady at €0.84 over the past week. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: €0.014 (up from €0.008 loss in 1Q 2021). Revenue: €52.7m (up 30% from 1Q 2021). Net income: €1.20m (up €1.90m from 1Q 2021). Profit margin: 2.3% (up from net loss in 1Q 2021). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 16%, compared to a 11% growth forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. 