Glaston Corporation Inside information 8 August 2025 at
8:15 EEST
Glaston communicated on 22 July, that during the first half of the year, the
softness of the Architectural market increased with no signs of a significant
recovery.
To mitigate the impact of prolonged low activity in the Architectural market and
increased volatility in the Mobility glass processing equipment market, Glaston
initiates actions to improve its efficiency and reduce costs to ensure
profitable performance.
Glaston plans to review its operating model to increase efficiency and to
further increase its capabilities to serve customers globally. The aim is to
increase focus on delivering more value to customers throughout the lifecycle,
to empower the Glaston team to make faster decisions closer to customers, and to
streamline processes.
In addition, Glaston will initiate planning concerning measures that are aimed
at adapting the company's operating model and ways of working to the lower than
expected demand. The plan covers all Business and Global Functions.
The planned measures may include both temporary lay-offs and termination of
employment contracts. The planned measures may also result in changes to
employment terms and working tasks.
Glaston estimates that the planned changes could lead to a reduction of up to 40
employment contracts of its over 800 employees globally. The impact in Finland
is expected to be a reduction of a maximum of 20 employment contracts out of
approximately 220 employed. The planned changes and potential reductions are
subject to local negotiation procedures.
Glaston is expecting that the planned measures mentioned above, in combination
with other profitability-improving actions, would result in annual cost savings
reaching approximately EUR 6 million. Planning for changes related to adapting
the operating model and ways of working, and the execution of other
profitability-improving and cost-reduction activities start immediately, and
savings are expected to be realized throughout 2026.
Even though the market situation has changed since introducing the revised
strategy in 2021, Glaston is committed to its medium-term (3−5 years) strategic
targets (https://glaston.net/strategy/). With the planned actions, Glaston aims
to accelerate the strategy execution.
“In a challenging market environment, we have not been able to grow our business
in line with our ambitions. As a result, our fixed costs have increased faster
than our revenue, and we must respond to this trend decisively. At the same
time, I see this as an opportunity to further streamline our operating model to
serve our customers more efficiently and to reassess the strategic actions
needed to reach our strategic targets," says Miika Äppelqvist, Glaston's
President and CEO.
For further information:
Miika Äppelqvist, President & CEO, tel. +358 10 500500
Pia Posio, VP Communications, Marketing and IR, tel. +358 10 500 5076
Glaston in brief
Glaston is the glass processing industry's innovative technology leader
supplying equipment, services and solutions to the architectural, automotive,
solar and display industries. The company also supports the development of new
technologies integrating intelligence to glass.
Glaston is committed to providing its clients with both the best know-how and
the latest technologies in glass processing, with the purpose of building a
better tomorrow through safer, smarter, and more energy efficient glass
solutions. Glaston operates globally with manufacturing, services and sales
offices in nine countries and its shares (GLA1V) are listed on NASDAQ Helsinki
Ltd.
Distribution: Nasdaq Helsinki Ltd., key media, www.glaston.net