Robit Plc's financing agreement renewed
Robit Plc has agreed on the restructuring of EUR 35.0 million in loans with its main financing bank.Read the release Robit Plc publishes Financial Statements 2018 on Feb 20, 2019.
Robit is a strongly internationalized growth company manufacturing, selling and servicing global customers in drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. Robit has the widest ranging offering in the drilling consumables segment. The company’s business is divided into three Strategic Business Units: Top Hammer, Down the Hole and Digital Services.
The foundation of the Robit story is strong and determined internationalization. The acquisitions, Drilling Tools Australia Pty Ltd and Bulroc (UK) Ltd, made in summer 2016 strengthened significantly Robit’s international operations. In addition, Robit purchased manufacturing assets and IPRs from Halco International LLC and Halco America LLC in January 2017 as well as further finalized the Halco acquisition in February 2017 by purchasing a majority of Halco Brighouse Ltd’s shares in England. As a result of the Halco acquisition Robit has further strengthened its Down-the-Hole business as a complement to the acquisitions made in Australia and England in May-July 2016. Robit emphasizes that it is a global company specializing in selling drilling consumables via its comprehensive distribution network in the global market.
In 2017, Robit invested in a fully automated factory in South Korea in a new location with better logistic connections. With the new factory, Robit is able to reduce delivery times of Top Hammer products like rods and shanks as well as to offer its customers even better availability and service. The factory was taken into use in February 2018. Robit’s manufacturing sites are located in Finland, South Korea, Australia, UK and USA.
The company’s own sales and service points serve customers in Lempäälä, Moscow, Helsinki, Seoul, Hwaseong, Hangzhou, Chicago, Johannesburg, Lima, Bangkok, Chesterfield, Hong Kong, Windhoek, Dubai, Brighouse, Sherman, Canning Vale, Kalgoorlie, Brisbane, Florianopolis as well as in Ust-Kamenogorsk.
Robit provides investors an interesting investment object. Besides domestic investors the Company has a significant amount of foreign shareholders. The international market has offered Robit space to grow, which is also an indication of the success in implementing strategic choices. In 2017 Robit’s net sales totalled EUR 88.2 million, growth of 38 percent from the comparative period. During the last ten years, the Company’s turnover has grown on average more than 20 percent per annum.
The Robit story, spanning more than three decades, is just beginning. The listing to Nasdaq Helsinki mainlist in 2017 enabled Robit’s growth to speed up.