ROBIT PLC NET SALES AT LEVEL OF COMPARATIVE PERIOD - INTEGRATION OF ACQUISITIONS AND EXCHANGE RATES DEPRESSED GROWTH AND PROFITABILITY

ROBIT PLC PRESS RELEASE 16 AUGUST 2018 AT 01.00 PM

ROBIT PLC NET SALES AT LEVEL OF COMPARATIVE PERIOD - INTEGRATION OF ACQUISITIONS AND EXCHANGE RATES DEPRESSED GROWTH AND PROFITABILITY 

Robit Plc net sales ended with one percent growth in the first half of the year, at EUR 43.1 million (42.6) million. However net sales grew some eight percent using comparable exchange rates, which is clearly faster than drilling consumables market growth.

Profitability during the review period did not reach the target level. Result was affected by lower net sales and items impacting comparability, which were due to the restructuring in the first half of 2018. Profitability was also depressed by expenses related to the start-up of the factory in Korea.

At the end of the review period the company's personnel numbered 290 (325), of which 77 (73) percent were located outside Finland. The personnel reductions were due to cost saving actions carried out. 

As part of its growth strategy the company is rationalizing and developing its product and service offering. Robit is clarifying its brand portfolio and strengthening its most widely recognized brand Robit. The Halco business continues as a separate brand. Restructuring supports the implementation of the growth strategy together with distributors.

During the next few years company is aiming for organic and structural growth as well as improving its profitability.

ROBIT PLC
Mika Virtanen, CEO

For further information
Robit Plc
Mika Virtanen, CEO

+358 40 832 7583
mika.virtanen@robitgroup.com   

Robit is a global growth company that sells drilling consumables globally to its customers in the following market segments: mining, construction and contracting, tunnelling and well drilling. The company's offering is divided into three product and service areas: Top Hammer, Down The Hole and Digital Services. The company has 19 own sales and warehousing facilities around the world and an active sales network across

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www.robitgroup.com