3 May 2012
Arto Metsänen, CEO
Tapio Engström, CFO

• Glaston’s overall market developed according to expectations.
• Consolidated net sales in January-March totalled EUR 35.5 (34.2) million.
• The operating result excluding non-recurring items improved compared to last year and was a loss of EUR -0.6 million.
• A goodwill impairment loss of EUR 3.0 million was recognised as a non-recurring item in the Machines segment’s Pre-processing operating segment.
• Outlook:
• Glaston expects that 2012 net sales will be at least at the 2011 level and that the operating result excluding non-recurring items will be positive.
2

• Glaston’s overall market developed according to plan.
• In South America and Asia, market growth levelled off as competition intesified.
• In North America, a gradual recovery of the market was perceptible.
• In the EMEA area, the market in Southern Europe remained subdued, while elsewhere demand was on satisfactory level.
3

EUR million
Orders received
Order book
Net sales
Operating result, *)
ROCE, %
Earnings per share, EUR
*) excluding non-recurring items
1-3/2012
32.8
36.7
35.5
-0.6
-13.7
-0.05
1-3/2011
38.1
44.3
34.2
-0.9
-3.4
-0.09
2011
141.3
37.6
142.7
-1.4
0.3
-0.14
4

• During the first quarter
Glaston’s market developed in line with expectations.
• Signs of increasing customer activity within the
Macines segment.
MEUR
150
100
50 35.5
34.2
0
Q1/12 Q1/11
142.7
2011
5

0,0
-0,5
-1,0
-1,5
Q1/12 Q1/11 2011
-0.6
-0.9
• Operating result excluding non-recurring items improved from last year.
• Biggest result improvement in the Machines segment.
• Services segment increased further its result.
-1.4
6

, EUR million
8.1 9.7
7

, EUR million
20.7 24.0
8

EUR million
50
40
30
20
10
0
36.2
29.8
39.7
41.5
44.3
38.7
36.7
37.6
36.7
Q1/10 Q2/10 Q3/10 Q4/10 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12
9

Net sales Operating result excl. non-recurring items
In the review period, a number of deals were concluded for Glaston
Tamglass FC500™ machines. Sales of the new Bavelloni ExtraEdge™ double edging machine grew in the review period and the worldwide launch of the Glaston Bavelloni Hyon™ edging machine was completed .
10

Net sales Operating result excl. non-recurring items
Customers were particularly interested in upgrade products equipped with advanced convection and control systems. The Vortex Pro™ convection system continued to be popular. Glasswerks, one of North
America’s leading architectural glass manufacturers, decided to modernise four of its tempering furnaces with the Vortex Pro™.
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Net sales Operating result excl. non-recurring items
The extensive operational development programme was completed during the review period. In Europe, the sales and service organization was streamlined and operations were centralized in three countries:
Germany, France and Sweden. Increased investments in R&D.
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• Glaston's market will remain challenging in 2012. Economic uncertainty will continue to impact customers’ investment decisions.
• Growth in the Asian and South American markets is expected to level off. Cautious signs of recovery are evident in the North American market. In the EMEA area, the Southern
European market will continue to be challenging, while a slight pick-up in demand is perceptible in Central, Northern and Eastern Europe.
• The cornerstones of Glaston’s operations remain the architectural glass segment and the solar energy market. The architectural segment creates the foundation for the company’s future growth. In the longer term, prospects for the solar energy segment are good. The automotive industry also offers good growth opportunities.
• We will purposefully continue our investment in those areas which do not require significant investments from our customers, namely maintenance services and tools. We expect the good development of the service market to be sustained in 2012.
• Glaston expects that 2012 net sales will be at least at the 2011 level and that the operating result excluding non-recurring items will be positive.
13