Glaston (GLA1V) Q3 2026 earnings summary

Executive summary

• Q3 orders reached €42.2m, the highest quarterly level of 2026, down 3% YoY; Q3 net sales fell 29.5% to €39.8m as earlier weak equipment orders reduced backlog.

• Comparable EBITA was €2.9m, or 7.2% of sales; Services and Mobility, Display & Solar orders grew while Architecture equipment demand remained weak.

• January–September net sales declined 23.5% to €122.3m and comparable EBITA was €8.3m; reported EBIT rose to €12.2m, mainly reflecting a Swiss factory-property sale gain.

Financial highlights

• Q3 operating result was €2.0m, profit €1.3m and comparable EPS €0.036, versus €3.0m, €2.3m and €0.076, respectively, in Q3 2025.

• Q3 comparable EBITDA was €3.8m, or 9.6% of sales, versus €5.9m and 10.4% a year earlier; Q3 operating cash flow was positive at €3.2m.

• 9M operating cash flow was €3.7m versus an outflow of €0.9m; cash and cash equivalents were €18.6m at September-end versus €6.7m a year earlier.

• 9M sales: Architecture €92.8m, down 24.3% YoY; Mobility, Display & Solar €30.2m, down 19.1%.

Outlook and guidance

• 2026 outlook unchanged: net sales expected to decrease from 2025’s €208.8m; comparable EBITA guidance remains €9.0–11.0m versus €14.0m in 2025.

• Architecture equipment demand is expected to remain subdued; project activity improved slightly in Q3 and is expected to continue into Q4. Mobility equipment demand is forecast at 2025 levels, driven by China.

• Services conditions are expected to remain healthy, with continued demand for modernizations; geopolitical and economic uncertainty remains elevated for customer investment decisions.

• Target is to make Q4 the strongest order-intake quarter of 2026; postponed projects have reactivated and underlying trends were described as positive.