Glaston Corporation's financial statements for 2021 report increases in full year net sales of €182.7 million with the fourth quarter growth in sales totalling €52.6 million.

“For Glaston, 2021 ended on a positive note. The markets continued to grow strongly in the fourth quarter with high demand in all segments. Orders received increased by 13% to EUR 59.1 million compared to the corresponding period in the previous year. The comparison period in 2020 already had a pre-covid level of order intake after the pandemic impacted quarters. Thus, the 13% growth in orders shows the strength of the market and Glaston’s capabilities. For the full year, orders received saw excellent progress: 41% above the level of the previous year, totalling EUR 216.2 million, with all segments contributing to the outcome,” said Anders Dahlblom President & CEO of Glaston.

On safety Mr Dahlblom continued, “We have set a group-wide safety target measured as zero lost-time accidents by 2025. I’m happy to say that we have already made excellent progress in the first year as only five lost-time accidents occurred, compared to 14 in the previous year. The lost time injury frequency rate dropped to 3.3 from 10.8 in 2020.”

The positive finances in 2021 are expected to continue in 2022 with good progress for both machines and services business.

At the start of 2022, the order backlog was 48% higher than the previous year providing a strong starting point and supporting Glaston’s net sales and profitability development. In 2022, the company will focus on the execution of its growth strategy that will incur costs and capital expenditure ahead of the effect on revenue growth.

As the COVID-19 pandemic continues and supply chain disturbances have become a longer-term challenge, a higher than normal uncertainty is related to the development of economic activity and customers’ investments.

www.glaston.net

Image: A strong performance in 2021