IMPROVED PROFITABILITY WITH MODERATE GROWTH
In the second quarter, market demand remained at a good level in the mining industry. The demand situation in the construction industry varied by market, but overall demand improved more slowly than the company expected. Orders received during the review period totaled EUR 25.8 million, up by 13.6 percent growth from the corresponding period.
Robit’s net sales grew by 0.9 percent on the corresponding period and totaled EUR 24.6 million (24.4). In constant currencies, there was an increase of 0.9 percent. The company’s net sales growth was driven by the Top Hammer business, which grew by 7.4 percent. From the market areas, the company’s growth came from Australasia, where sales were boosted by new customers.
In the quarter, comparable EBIT profitability grew, reaching EUR 0.7 million (0.2). EBIT was 2.7 percent of the net sales (0.7).
The company updated its strategy for 2024–2027. Robit helps its clients to achieve lower drilling costs and aims to be their chosen partner in drilling equipment. The company prioritizes its growth investments in selected high-potential markets, while securing and strengthening its position in markets where it currently has a strong foothold. Accelerating the pace through the distributor network is key to the company’s growth strategy. As part of the strategy update, the company will focus more clearly on growth through its core product range in the Top Hammer, Down the Hole and Geotechnical businesses, and will not seek growth with products not designed by Robit. At the core of implementing the strategy are Robit’s dedicated drilling equipment experts, whose expertise the company will continue to further develop. During the strategy period, Robit is committed to its long-term financial goals of revenue growth faster than market growth and a comparable EBIT profitability of 10 percent.
The company’s guidance remains unchanged. Robit expects net sales for 2024 and adjusted EBIT profitability in euros to improve from 2023.
Robit as an investment
Robit is a global expert focused on high-quality drilling consumables for mining and construction markets to help you drill further and faster. Robit strives to be world number one company in drilling consumables. Through our high and proven quality Top Hammer, Down the Hole and Geotechnical products, and our expert services, we deliver saving in drilling costs to our customers. Robit has its own sales and service points in seven countries and an active distributor network through which it sells to more than 100 countries. Robit’s manufacturing units are located in Finland, South Korea, and the UK.
BUSINESS AREAS
Top Hammer Business
Top Hammer business focuses on top hammer drilling consumables used in mines, quarries, construction projects and tunnelling.
Down the Hole Business
Down the Hole business focuses on DTH drilling consumables used in mines, quarries and well drilling.
Geotechnical Business
Geotechnical business focuses on drill piling, which is a support method used in different kinds of construction projects.
Examples of use on reference site.
