Glaston (GLA1V) Q1 2026 earnings summary

Executive summary

• Q1 2026 was marked by global uncertainty and challenging market conditions, with significant impacts from geopolitical tensions, especially in the Middle East, leading to reduced demand for glass processing equipment.

• Orders received declined 14% year-over-year to EUR 40.5 million, and net sales fell 21% to EUR 40.9 million, with the service business remaining resilient and accounting for nearly half of net sales.

• EBITDA/EBITA margin improved to 6.5% due to accelerated cost-saving programs, which achieved EUR 6 million annual run-rate savings ahead of schedule.

• Operating cash flow turned positive, and profitability was supported by strong service activity.

• Market conditions remained especially weak in the architectural segment, while the service business and Mobility, Display & Solar segment showed relative strength.

Financial highlights

• Orders received were EUR 40.5 million, down 14% year-over-year; net sales dropped 21% to EUR 40.9 million, with all product areas impacted.

• Comparable EBITDA/EBITA was EUR 2.7 million, margin improved to 6.5% from 6.0% in Q1 2025.

• Operating cash flow was positive at EUR 0.4 million.

• Net debt and gearing figures varied, with net gearing reported at both 42% and 16% due to different calculation bases.

• Profit for the period was EUR 0.7 million, and earnings per share reached EUR 0.016.

Outlook and guidance

• Net sales and comparable EBITDA/EBITA are expected to decrease in 2026 compared to 2025 due to a lower backlog and a cautious market environment.

• Continued focus on cost-saving actions, efficiency, and the service business to stabilize performance.

• High uncertainty persists due to global economic unpredictability and geopolitical tensions.