Glaston January-June August 2017

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Irene Ramsey
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1 Glaston January-June August 2017

2 Q2 in brief Orders received: EUR 26.6 mi io, -7%*) Net sa es: EUR 29.1 mi io, +32%*) Comparab e operati g resu t: EUR 1.4 mi io (EUR -0.4 mi io ) Order book: EUR 41.2 mi io, +1% I the seco d quarter, the g ass processi g market became more active to some exte t Ne orders gre by 23% compared to the previous quarter The order book as o the same eve as ast year Due to a i creased umber of de iveries, et sa es gre by 32% The comparab e operati g resu t improved sig ifica t y Negotiatio s o the sa e of the pre-processi g busi ess i the USA a d Ca ada ere comp eted *) he the sa e of the pre-processi g busi ess i the USA a d Ca ada are take i to accou t orders received ere do -3% do a d et sa es up +35%

3 Operating environment I the EMEA area, overa market deve opme t as good Decisio -maki g s o i ma y cou tries, especia y i Easter Europe Gro i g dema d i Ce tra a d Souther Europe I the Asia market, deve opme t as positive, but varied from regio to regio I Austra ia a d Ne Zea a d markets remai ed good I Chi a, the first sig s of a pick-up i co structio ere perceptib e The North America market s o ed a d customers pruchasing decisions were delayed I the South America market, there ere a s ight recovery from a very o eve Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Orders received, M Net sales, M

4 Q2 net sales Up +32%*) M Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q *) Net sa es ere up 35%, if sa es of the pre-processi g busi ess i the USA a d Ca ada are take i to accou t 4

5 Q2 comparable operating result Growth in net sales improved the result 8% 7% 8% 6% 6% 5% 5% 5% 2% 2% % 2.7 0, % -2% -1% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q EBIT, M EBIT% 5

6 Order book at the previous year s level Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 M

7 Machines Q2 I the seco d quarter, the Machi es busi ess market as more active I the EMEA area, decisio -maki g as s o i ma y cou tries, but overa market deve opme t as stab e The North America market eve ed of. The South America market picked up margi a y I the Asia market area, deve opme t as positive, but varied from regio to regio Order i take as EUR 15.1 mi io. The argest orders ere received from the USA, Ne Zea a d a d Austra ia Net sa es tota ed EUR 18.2 mi io, up 40% from the correspo di g period of the previous year Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Orders received, M Net sales, M

8 Services Q2 A cautious y positive deve opme t of the Services busi ess market as evide t The deve opme t of the EMEA area as doub eedged: o the o e ha d, G asto received a high umber of orders; o the other ha d, sig ifica t s o do i some cou tries The North America market co ti ued to be cha e gi g. I South America, the market co ti ued to be s o The markets i Asia picked up. G asto c osed a fe arge moder isatio dea s The market for moder isatio products picked up. Duri g Q2 the umber of e projects ear y doub ed compared ith the first quarter Net sa es ere 13% up a d tota ed EUR 11.2 mi io Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Orders received, M Net sales, M

9 Net sales by area EMEA net sales up +29% /2016 M EMEA Asia Americas 1-6/2017 M

10 Cash flow from operating activities Advance payments related to orders declined Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 M

11 Net debt Increased due to the growth in working capital M Q1/2015 Q2/2015 Q3/2015 Q4/2015 Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/

12 Shareholders Ahlström Capital acquired G.W.Sohlberg s shares 30 Ju e 2017 Numbers of shares % of shares a d voti g rights Cha ge May ->Ju e Ac I vest Eight B.V. 33,931, ,931,442 Hymy Lahti e Oy 23,400, OP-Fi a d Sma Firms Fu d 13,918, ,750,000 (+169,3%) Etera Mutua Pe sio I sura ce Compa y Varma Mutua Pe sio I sura ce Compa y 13,843, ,750,000 (-38,73%) 12,786, Ev i Fi ish Sma Cap Fu d 9,732, ,000 (-0.59%) Päivikki and Sakari Sohlberg Fou datio 3,965, Hu kko Juha O avi 3,530, ,000 (+9.97%) Oy I vestsum Ab 3,358, Kirkon eläkerahasto 3,142, Tota umber of shareho ders Q2/2017: 5,578 Q2/2016: 5,947 12

Outlook Good order book at start of the year, positive market deve opme t a d the cost-savi g measures u dertake create good co ditio s for the deve opme

13 Outlook Good order book at start of the year, positive market deve opme t a d the cost-savi g measures u dertake create good co ditio s for the deve opme t of operatio s i We expect the fu -year comparab e operati g resu t to improve from (I 2016 the comparab e operati g resu t as EUR 2.8 mi io.)

14 Emerging technologies

15 Varsinainen yhtiökokous 2017 Functional glass Fu ctio a g ass ca, for examp e, i crease the ivi g comfort a d safety of both bui di gs a d users Adapts to its e viro me t Saves or ge erates e ergy Co ects i formatio about its surrou di gs 15

16 The smart glass potential is huge G asto is active y seeki g e busi ess opportu ities i emergi g g ass tech o ogies The Emergi g Tech o ogies u it is i vo ved i active discussio s o so ar e ergy so utio s, dema di g architectura so utio s a d automotive i dustry i ovatio s Glaston s partner, He iotrope Tech o ogies, is deve opi g for the market a e e ectrochromic smart g ass tech o ogy that regu ates the heat a d ight tra smissivity of g ass precise y a d quick y North America Europe Asia Pacific Latin America MEA The g oba smart g ass market as va ued at USD 2,805.7 mi io i 2016 a d is expected to reach USD 9,983.0 mi io by 2025, gro i g at a CAGR of 15.2% from 2017 to 2025 Source: Glass Magazine, National Glass Association, The Glass Association, IEEE, Hoover s, Company Annual Reports, and Grand View Research 16

New smart glass technology He iotrope Tech o ogies The competitive adva tage of this e tech o ogy over so utio s a ready o the market is sig ifica t y o er productio costs a d aesthetic qua ities i

17 New smart glass technology He iotrope Tech o ogies The competitive adva tage of this e tech o ogy over so utio s a ready o the market is sig ifica t y o er productio costs a d aesthetic qua ities i terms of the co our a d haze of the g ass Day ighti g & G are co tro Privacy Room darke i g E imi ate G are Maximize Day ight Reduce Heat Load E imi ate B i ds a d Shades Day ighti g & G are co tro G are co tro Day ighti g & G are co tro Source: He iotrope Tech o ogies 17

Step Change first glass industry startup event I co ectio ith the G asto -orga ised G ass Performa ce Days co fere ce a g ass i dustry startup eve t as he d for the first time The aim of the eve t is

18 Step Change first glass industry startup event I co ectio ith the G asto -orga ised G ass Performa ce Days co fere ce a g ass i dustry startup eve t as he d for the first time The aim of the eve t is to acce erate the deve opme t of the sector a d i troduce e i ovatio s to i vestors 660 GPD participa ts 290 First time participa ts 62 Step Cha ge participa ts 35 Step Cha ge startups 28 Startup exhibitors 26 I dustry exhibitors 24 Pitchi g teams 13 Me tors 12 I vestors

PR I CE 'I S T N o. 'AYS ' NET 60. Com p l ete. 6 j AN UARY l st, ' 40 Mirrors. 200 Panel doors ' 50 Mirrors ' 50

PR I CE 'I S T N o. 'AYS ' NET 60. Com p l ete. 6 j AN UARY l st, ' 40 Mirrors. 200 Panel doors ' 50 Mirrors ' 50 PR I CE 'I S T N o. 6 6 ACME KITCHEN FURNITURE COMPA Chattanoo g a, Tennessee Wardrobes Chifiorobes 2 200 Panel doors NO. 19 201 202 12 ' 40 Mirrors 203 l doors Pane 204 12 ' 40 Mirrors 205 Panel doors