Robit Plc: ROBIT PLC HALF YEAR REPORT 1 JANUARY–30 JUNE 2019: EFFICIENCY PROGRAMME ADVANCING – ORDER INTAKE IS AT A GOOD LEVEL

ROBIT PLC                           PRESS RELEASE                                      7 AUGUST 2019 AT 8.10 

ROBIT PLC HALF YEAR REPORT 1 JANUARY–30 JUNE 2019:
EFFICIENCY PROGRAMME ADVANCING – ORDER INTAKE IS AT A GOOD LEVEL

Robit's efficiency program is progressing and implementation will continue throughout the year.
The second quarter order intake of EUR 22 million was approximately 3% higher than in the comparison period. The order intake for the first half of the year was EUR 46 million, also up approximately 3% year-on-year. 

Net sales were at the level of the comparison period and, compared with the first quarter, net sales grew 9.7%. The operating result was negatively impacted by a EUR 1.0 million write-down related to a lease liabilities at the Halco Brighouse production plant.  

As part of the efficiency programme, Robit sharpened its DTH business production strategy. As a result, production at the Sherman factory in the USA was discontinued and transferred to the company’s other manufacturing plants. At the beginning of July, it was decided to transfer manufacturing of Halco products in Brighouse (UK) to Robit’s factories in Chesterfield (UK) and Perth (AU). Through the decision, the company will prepare at the same time for a possible Brexit.

Robit revised the guidance for 2019 on 2 August,2019. According to new guidance the company’s EBITA profitability for the year 2019 will be negative and the release of capital tied up in the business will be less than the original target.

ROBIT PLC

Tommi Lehtonen
CEO

Additional information:
Tommi Lehtonen, CEO
+358 40 724 9143
tommi.lehtonen@robitgroup.com

Robit is a strongly internationalised growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunnelling and well drilling. The company's offering is divided into three product and service ranges: Top Hammer, Down-the-Hole and Digital Services. Robit has 15 of its own sales and service points throughout the world as well as an active sales network in 115 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia, the UK and the USA. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at: www.robitgroup.com.

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Nasdaq Helsinki Ltd
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