Glaston said it is cautiously positive for 2013.

Group CEO Arto Metsänen said the company had already received several orders this year for its FC500 machines and had also concluded a €3.4 million sale in China ($4.5 million), which included two CCS900 machines and a FC500 machine.

He said the North American construction market is more positive than a year ago. The company expects the cautiously positive development that began in Asia in late 2012 will continue, while stable development in South America is also expected to continue.

It expects its 2013 net sales to be on the 2012 level and the operating result to be positive.

Mr Metsänen was speaking at the company’s financial results conference which saw the group make a profit of €400k in Q4 2012.

He said overall 2012 was a challenging year. It had seen staff and capacity cuts in Asia, Italy, Finland and Brazil, which it said would save €5 million, and put the company on a stable footing for 2013.