ROBIT PLC PRESS RELEASE 22 APRIL 2021 AT 11.15 A.M.
ROBIT PLC: NET SALES AND PROFITABILITY IMPROVED
Robit continued good development in the first quarter of the year. Company’s growth and profitability developed steadily. Also, growth projects proceeded as planned.
Robit’s net sales grew by 7.1 percent in January–March compared to the corresponding period, totaling EUR 23.0 million (21.5). In constant currencies, the change was 8.7 percent. Robit reached also the highest net sales month in the company’s history in March. In the mining sector in particular, business development was good.
Simultaneously, Robit’s profitability developed as planned. EBITDA improved distinctly in January–March totaling EUR 1.6 million (0.4). The improvement was EUR 1.2 million compared to the corresponding period.
Orders received fell by 7.1 percent compared to the corresponding period. On the background was a timing issue related to a single significant order in the first quarter of 2020.
Both Top Hammer and Down the Hole business grew in the first quarter of the year. Simultaneously, the development of the East region continued to be excellent, mainly as a result of the good development of the mining segment. The solid growth continued also in the EMEA region, where the strongest development took place in the Nordic countries due to a good market situation of the construction sector. Robit’s distribution development projects progressed well with new distributor agreements. Also, the worldwide launch of the new Rbit button bit series was a success.
Robit expects the market situation to develop positively and believes COVID-19 restrictions to have a limited impact on the demand of Robit’s products in 2021. Demand is supported by the positive development in the price of metals and customers’ good work situation in the construction market areas that are relevant to Robit.
Robit estimates 2021 net sales to grow and euro-dominated comparable EBITDA profitability to improve from 2020.
Tommi Lehtonen, Group CEO
+358 40 724 9143
Nasdaq Helsinki Ltd
Robit is a strongly internationalised growth company servicing global customers and selling drilling consumables for applications in mining, construction, geotechnical engineering and well drilling. The company’s offering is divided into three product and service ranges: Top Hammer, Down the Hole and Geotechnical. Robit has sales and service points in 9 countries as well as an active sales network in more than 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.