Glaston Oyj Abp
Sector unknown·GLA1V · Nasdaq Helsinki·Fiscal year to 31/12/2025
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Construction
End markets
DriverNegative impact: weakens
“Operating environment Architectural glass equipment The architectural glass market was quiet throughout the year, due to the slowdown in the residential and commercial construction glass markets. Owing to the weakened market outlook and ongoing economic uncertainty, customers continued to be cautious about investments.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The softness in the construction market was reflected in the demand for tempering lines. Demand for tempering lines is mainly capacity-based and there was no significant need for additional capacity.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Demand for laminating lines was low. Demand for insulating glass machines was affected by the unfavorable development of the key economic indicators related to architectural glass and the general slowdown in the market.”
Annual report 2025A · The company itself
DriverMixed impact: mixed
“As a result, Glaston is exposed to business cycles in its customers’ industries, in particular the construction and mobility industries.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“The transition to a low-carbon economy is reflected through demand growth as a potential opportunity in Glaston’s business. With regard to financial materiality, the primary factors are related to decarbonization and investments in the end-use industry, as well as the regulatory environment and innovations in low-energy glass processing. The aim of reducing the energy consumption of buildings and thereby emissions has an impact on the demand for insulating glass and, consequently, on the demand for Glaston’s insulating glass technologies and, partly, also safety glass technologies.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“The achievement of the emission reduction targets set by many countries and operators calls for reducing the emissions of new construction to zero and significantly accelerating renovation construction. In the medium term, economic cycles may affect the pace of investment growth.”
Annual report 2025A · The company itself
Market
“In 2025, investment conditions in our primary markets, Architecture and Mobility, were challenging.”
Annual report 2025A · The company itself
Market
“Most of the glass processed using the company’s technology is supplied to the construction industry.”
Annual report 2025A · The company itself
Market
“Topic Sub-topic/own topic Sub-sub-topic E1 Climate change Climate change mitigation Climate change adaptation Energy S1 Own workforce Equal treatment and equal opportunities for all Training and skills development Diversity Gender equality and equal pay for equal work Working conditions Health and safety Working hours Work-life balance Employee engagement (own topic) S4 Consumers and End-users Personal safety of consumers and end-users Health and safety Glaston’s customers are glass processors that supply glass products to the construction industry, automotive manufacturing, and other industries that use specialty glass.”
Annual report 2025A · The company itself
Market
“The net sales of glass tempering and laminating technologies and related services amounted to EUR 65.7 million in 2025, representing 31.4% of the Group’s total net sales.”
Annual report 2025A · The company itself
Chains in: Interest rates weakens, Housing market strengthens, Public investment and infrastructure strengthens, Business cycle and GDP growth strengthens, Reconstruction of Ukraine strengthens
Automotive
End markets
DriverMixed impact: mixed
“As a result, Glaston is exposed to business cycles in its customers’ industries, in particular the construction and mobility industries.”
Annual report 2025A · The company itself
DriverMixed impact: mixed
“Changing consumer behavior, tighter regulation and changes in global automotive trade flows have led to a shift in the investments of mobility industry customers.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“Increasing mobility glass requirements present new challenges for glass processing, bringing new players to the market and creating new opportunities for glass processing technology suppliers.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“Glaston’s strategy identifies opportunities for the company to strengthen its market position and cost competitiveness as well as seek growth by developing its product range to better meet the needs of customers in the glass processing market.”
Annual report 2025A · The company itself
Market
“In 2025, investment conditions in our primary markets, Architecture and Mobility, were challenging.”
Annual report 2025A · The company itself
Market
“Glass processed with Glaston’s machinery is used in the architectural, mobility, display and solar energy industries.”
Annual report 2025A · The company itself
Labour and wages
Raw materials and inputs
DriverNegative impact: weakens
“On December 31, 2025, Glaston Group had 772 (817) employees.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“Competent personnel are an enabling factor for Glaston's business operations. Glaston is committed to developing the competence of its personnel as part of its environmental and business targets.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“One of Glaston’s strategic goals is to increase the employee engagement rate to a level over 75 (on a scale of 1–100).”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“Glaston’s sustainability-promoting non-financial strategic objectives with regard to the personnel are as follows: • Zero work-related accidents resulting in lost time (LTA). Progress is measured by the accident frequency (LTIFR, lost time injury frequency rate/million hours worked).”
Annual report 2025A · The company itself
China
Geography
DriverPositive impact: strengthens
“Supported by the transition to electric vehicles, the Chinese mobility production has developed favorably, which has driven demand for Glaston’s pre-processing technology.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“However, there are signs of a market slowdown.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“For example, in China, which is the largest market for the glass processing industry, purchasing behavior is more cost-conscious than in other market areas. Consequently, price competition is intense and local players have a certain competitive advantage in the market.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Of the physical risks, the worsening of extreme weather phenomena was assessed to have a low to moderate impact in China, where the factory building is exposed to heavy rainfall, and the risk of storms and floods increases. Heavy rainfall has become more common in northern China, which increases risks related to the supply chain and plant operations.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“Given the uncertainties of the real estate market in China, special focus is put on the company’s strategy in China. Glaston is actively developing its offering in the higher-growth mobility market, thereby strengthening its competitiveness in the Chinese markets.”
Annual report 2025A · The company itself
Geography
“In China, demand for Glaston’s pre-processing machines continued but fell from an exceptionally high level in the previous year.”
Annual report 2025A · The company itself
Geography
“Glaston has operations in China, and the risk of human rights infringements may be greater there than in the company’s other countries of operation. The company has not identified material human rights risk with regard to its own workforce. The company operates in China on equal principles, and the risk is managed by means of Glaston's global People Policy and HR practices.”
Annual report 2025A · The company itself
Geography
“Cooperation between management and employee representatives is based on local laws and regulations and is organized at the country level. In China, Glaston has been a member of a local Chinese trade union since 2020.”
Annual report 2025A · The company itself
Energy efficiency
Technology
DriverPositive impact: strengthens
“Investments in insulating glass are accelerated by the need to increase automation and improve the energy efficiency of buildings, but as the economic indicators related to architectural glass were weak, many investments were postponed.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“Customer driven innovation is what enables us to anticipate future needs and differentiate our offering. By integrating lifecycle thinking, continuous innovation, and energy efficient technologies across our portfolio, we are building a strong foundation for long term, profitable, and sustainable growth.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“In 2025, Glaston’s product development accounted for 3.9% of net sales. Maintenance and modernization services accounted for 38.9% of net sales.”
Annual report 2025A · The company itself
Market
“In insulating glass technologies, demand for the ULTRA TPS ® line for triple TPS ® insulating glass units with ultra-thin center glass, developed well.”
Annual report 2025A · The company itself
Market
“Glass products processed with Glaston technology enable the reduction of carbon dioxide emissions and energy consumption in construction. Most of the glass processed with Glaston machines ends up in construction. The technologies developed by Glaston enable the production of energy-efficient insulating glass with a significant positive climate impact.”
Annual report 2025A · The company itself
Market
“Glaston has assessed its activities and concluded that insulating glass technologies and related services, as well as all equipment and services offered to solar energy technology suppliers, are enabling functions that significantly contribute to climate change mitigation.”
Annual report 2025A · The company itself
Market
“Glaston develops glass processing technologies for its customers that enable them to meet stringent and regulated safety and energy efficiency requirements.”
Annual report 2025A · The company itself
Chains in: Carbon tax and ETS prices strengthens, EU climate and energy policy strengthens
Consumer spending
Macro
DriverNegative impact: weakens
“In the service market, lower customer utilization rates affected the demand for spare parts and field services, and the market was quiet except for America.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“However, the growth in the Services business could fall short of expectations as continued market uncertainty affecting the machine utilization rate would affect the service business and service demand.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Changing customer behavior, such as reduced demand due to a change in customer preferences, may affect the demand for Glaston’s products in the medium and long term. Even if the financial effect was significant, the likelihood of the risk was assessed as low.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“As we aim for sustainable growth, our Services business is key, and we expect it to be an important growth and profitability driver across market cycles.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“In addition to sales of new machines, the company is focusing on increasing its services business, with the aim of partially balancing its cyclically sensitive business and improving its profitability.”
Annual report 2025A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
Solar power
Technology
StrategyPositive impact: strengthens
“As part of its science-based targets, Glaston intends to gradually phase out natural gas and other fossil energy sources in its own operations in the long term and further significantly increase the share of renewable energy.”
Annual report 2025A · The company itself
Market
“Therefore, serious unlikely effects may be material even if they are below the threshold. No such topics emerged in the assessment.”
Annual report 2025A · The company itself
Market
“Glaston has assessed its activities and concluded that insulating glass technologies and related services, as well as all equipment and services offered to solar energy technology suppliers, are enabling functions that significantly contribute to climate change mitigation. Glaston’s insulating glass technologies, machines, production lines, upgrade products and services that enable the manufacture of insulating glass units are taxonomy-eligible activities that meet the definition and the insulating glass units manufactured with them meet internationally standardized requirements and essential characteristics of insulating glass units.”
Annual report 2025A · The company itself
Market
“Glass processed with Glaston’s machinery is used in the architectural, mobility, display and solar energy industries.”
Annual report 2025A · The company itself
Automation and robotics
Technology
StrategyPositive impact: strengthens
“Intangible resources Glaston is the glass processing industry’s innovative technology leader and the company’s position is particularly strong as a developer of the most technologically demanding products. To remain at the forefront of the development of glass processing equipment and services, Glaston invests significantly in the continuous development of its technology portfolio and its research and development activities.”
Annual report 2025A · The company itself
Market
“The new automatic trimming system, Autotrim, helps increase capacity and reduce manual labor in the laminating process by automating a typically manual step.”
Annual report 2025A · The company itself
Market
“Further, the MUNTIN'MASTER, an automatic muntin positioning station for TPS ® insulating glass units, represents an important step towards fully automated production.”
Annual report 2025A · The company itself
Artificial intelligence
Technology
StrategyPositive impact: strengthens
“Intangible resources Glaston is the glass processing industry’s innovative technology leader and the company’s position is particularly strong as a developer of the most technologically demanding products. To remain at the forefront of the development of glass processing equipment and services, Glaston invests significantly in the continuous development of its technology portfolio and its research and development activities.”
Annual report 2025A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Circular economy and recycling
Regulation
StrategyPositive impact: strengthens
“Glaston focuses on developing and delivering sustainable, upgradeable and energy-efficient products. The company offers its customers maintenance and modernization services that can considerably extend the life cycle of machines.”
Annual report 2025A · The company itself
Chains in: EU climate and energy policy strengthens
Media and entertainment
End markets
Market
“Glass processed with Glaston’s machinery is used in the architectural, mobility, display and solar energy industries.”
Annual report 2025A · The company itself
Semiconductors and electronic components
Raw materials and inputs
Market
“Topic Sub-topic/own topic Sub-sub-topic E1 Climate change Climate change mitigation Climate change adaptation Energy S1 Own workforce Equal treatment and equal opportunities for all Training and skills development Diversity Gender equality and equal pay for equal work Working conditions Health and safety Working hours Work-life balance Employee engagement (own topic) S4 Consumers and End-users Personal safety of consumers and end-users Health and safety Glaston’s customers are glass processors that supply glass products to the construction industry, automotive manufacturing, and other industries that use specialty glass.”
Annual report 2025A · The company itself
Chains in: Artificial intelligence strengthens
Wind power
Technology
StrategyPositive impact: strengthens
“As part of its science-based targets, Glaston intends to gradually phase out natural gas and other fossil energy sources in its own operations in the long term and further significantly increase the share of renewable energy.”
Annual report 2025A · The company itself
Chains in: Interest rates weakens, Energy security strengthens
Chains out: this strengthens Steel, strengthens Rare earths and critical raw materials, strengthens Renewables auctions and subsidies, strengthens Power grid expansion
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“The US tariff situation and uncertainty about trade policy also caused uncertainty in the business environment, especially in the US.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“However, China’s investment demand is largely driven by the expectation of selling electric cars to a significant extent outside China. Tariffs and related uncertainty increase unpredictability in the market and cause fluctuations in demand.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Currently, business operations globally are impacted by prolonged geopolitical instability and uncertainty of trade policies. These all contribute to a slowdown in global economic growth and investment activity, and therefore pose a risk to the company's operations and profitability.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“For Glaston, the US architectural glass machines market is important. Currently, US trade policy is subject to unpredictability and any new taxes imposed on the country's imports could have an impact on Glaston's business and economic development.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Also, uncertainty related to trade policies and tariffs could impact Glaston’s business in this industry.”
Annual report 2025A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
Electricity
Raw materials and inputs
DriverNegative impact: weakens
“The key sustainability issues in the glass industry revolve around the energy consumption of glass production and further processing, the recyclability of glass and the emissions generated by the value chain. A significant part of Glaston’s value chain emissions are related to customers’ heat treatment processes, which consume significant amounts of electricity.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Uncertainty in market signals can lead to increased glass processing costs, for example, as a result of higher electricity prices. The risk was estimated to have a moderate financial effect and likelihood in the medium term.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Energy consumption and mix E1-5 The most significant climate impacts of Glaston’s operations are related to the use of sold machines, especially the electricity consumption of tempering machines. The tempering process, in which glass is heated to over +600 degrees Celsius and quickly cooled to room temperature, is energy-intensive. Glaston’s product development focuses on improving the energy efficiency of machines.”
Annual report 2025A · The company itself
Chains in: Data centres strengthens, Electrification strengthens
Chains out: this strengthens Power grid expansion
EU climate and energy policy
Regulation
DriverPositive impact: strengthens
“The transition to a low-carbon economy is reflected through demand growth as a potential opportunity in Glaston’s business. With regard to financial materiality, the primary factors are related to decarbonization and investments in the end-use industry, as well as the regulatory environment and innovations in low-energy glass processing. The aim of reducing the energy consumption of buildings and thereby emissions has an impact on the demand for insulating glass and, consequently, on the demand for Glaston’s insulating glass technologies and, partly, also safety glass technologies.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The assessment identified transition risks related to the policies and legislation, technology, markets and the company’s reputation. In the medium and long term, replacing existing products and services with lower-emission alternatives and Glaston’s potentially unsuccessful investments in new technologies were assessed as risks with moderate financial effects.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The most significant transition risk is the decarbonization of Glaston’s glass production outside the value chain, which, should it fail, could affect the use of glass as a building material and thus also the demand for Glaston’s products. Globally significant glass producers have decarbonization programs and related investments.”
Annual report 2025A · The company itself
Chains out: this strengthens Circular economy and recycling, strengthens Energy efficiency
Business cycle and GDP growth
Macro
DriverNegative impact: weakens
“Due to global economic unpredictability and prolonged investment hesitation, our full-year order intake was down by 13%, which also affected net sales development.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Changing customer behavior, such as reduced demand due to a change in customer preferences, may affect the demand for Glaston’s products in the medium and long term. Even if the financial effect was significant, the likelihood of the risk was assessed as low.”
Annual report 2025A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“Currently, business operations globally are impacted by prolonged geopolitical instability and uncertainty of trade policies. These all contribute to a slowdown in global economic growth and investment activity, and therefore pose a risk to the company's operations and profitability.”
Annual report 2025A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
United States
Geography
DriverNegative impact: weakens
“For Glaston, the US architectural glass machines market is important. Currently, US trade policy is subject to unpredictability and any new taxes imposed on the country's imports could have an impact on Glaston's business and economic development.”
Annual report 2025A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Electrification
Technology
DriverPositive impact: strengthens
“Automotive, display and solar energy glass equipment Thanks to the electrification of transport, the Chinese vehicle market was relatively active throughout the year.”
Annual report 2025A · The company itself
DriverMixed impact: mixed
“Changing consumer behavior, tighter regulation and changes in global automotive trade flows have led to a shift in the investments of mobility industry customers.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“Supported by the transition to electric vehicles, the Chinese mobility production has developed favorably, which has driven demand for Glaston’s pre-processing technology.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“From a technical perspective, environmental requirements will be met through, among other things, the use of lighter vehicle structures, on which thin glass, in particular, will have a positive impact.”
Annual report 2025A · The company itself
Chains out: this strengthens Electricity, strengthens Power grid expansion, strengthens Copper
Climate change and extreme weather
Macro
DriverNegative impact: weakens
“Of the physical risks, the worsening of extreme weather phenomena was assessed to have a low to moderate impact in China, where the factory building is exposed to heavy rainfall, and the risk of storms and floods increases. Heavy rainfall has become more common in northern China, which increases risks related to the supply chain and plant operations.”
Annual report 2025A · The company itself
Chains out: this weakens Agriculture and food production
Natural gas
Raw materials and inputs
InputNegative impact: weakens
“As part of its science-based targets, Glaston intends to gradually phase out natural gas and other fossil energy sources in its own operations in the long term and further significantly increase the share of renewable energy.”
Annual report 2025A · The company itself
Public investment and infrastructure
Regulation
DriverPositive impact: strengthens
“Political recovery programs were expected in key markets in the EMEA region, such as Austria and Germany.”
Annual report 2025A · The company itself
Chains in: Reconstruction of Ukraine strengthens
Chains out: this strengthens Construction, strengthens Digitalisation, strengthens IT consulting and public-sector IT
Aluminium
Raw materials and inputs
InputNegative impact: weakens
“Glaston purchases electrical and metal components primarily from suppliers located in close proximity to the production plants.”
Annual report 2025A · The company itself
Asia and emerging markets
Geography
Geography
“Asia accounts for 20% of procurement.”
Annual report 2025A · The company itself
Copper
Raw materials and inputs
InputNegative impact: weakens
“Glaston purchases electrical and metal components primarily from suppliers located in close proximity to the production plants.”
Annual report 2025A · The company itself
Chains in: Electrification strengthens, Data centres strengthens
Chains out: this strengthens Mining
Europe
Geography
Geography
“Approximately 80% of Glaston’s purchases come from Europe.”
Annual report 2025A · The company itself
Steel
Raw materials and inputs
InputNegative impact: weakens
“Glaston purchases electrical and metal components primarily from suppliers located in close proximity to the production plants.”
Annual report 2025A · The company itself
Chains in: Wind power strengthens
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 0.21 bn EUR |
| Revenue growth vs. the year before, same method | -4.2 % |
| EBITDA reported by the company | N/A |
| Net debt debt incl. leasing minus cash | 0.03 bn EUR |
| Diluted EPS per share | 0.028 EUR |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✗ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (EUR), not converted to DKK. Quotes are shown as the company's own words in the report's original language.