ROBIT PLC: NET SALES AND PROFITABILITY CONTINUED TO IMPROVE IN THE THIRD QUARTER

ROBIT PLC        PRESS RELEASE        26 OCTOBER 2022 AT 11.40 AM

ROBIT PLC: NET SALES AND PROFITABILITY CONTINUED TO IMPROVE IN THE THIRD QUARTER

Robit continued its good development in the third quarter of the year 2022.  

Robit’s net sales for the third quarter was EUR 28.4 million (26.4). There was an increase of 7.8 percent compared to the corresponding period. Orders received totalled EUR 27.7 million and grew by 8.1 percent from the corresponding period. Simultaneously, EBITDA profitability improved by 39.3 percent totalling EUR 3.5 million (2.5).

In January–September, the company’s net sales improved by 15.2 percent from the corresponding period and totalled EUR 85.8 million (74.5). This corresponds exactly Robit’s growth defined in its strategy. Orders received grew by 9.2 percent from the corresponding period. EBITDA profitability improved by 42.5 percent totalling EUR 8.5 million in January–September (5.9). The company’s improvement measures concerning profitability continued their systematic progress. By means of pricing measures the company managed to mitigate the increase in raw material costs and to kept fixed costs under control.

The Top Hammer was still giving the biggest growth and the business grew by 24.0 percent to EUR 50.1 million in January–September (40.4). Delivery capacity was on a good level enabling strong growth. Simultaneously, Down the Hole business grew by 4.6 percent totalling EUR 35.7 million (34.1). Growth was strong especially in North America.

Geographically, all market areas experienced growth in January–September. Growth was especially driven by the Americas market area, where net sales grew by 42.0 percent due to good demand level. The Asia and East market areas also grew strongly in January–September achieving growth of over 15 percent.

”In the third quarter, we were successful in achieving the company’s numerical priorities defined for 2022. Our profitability improved significantly, we continued the profitable growth and strengthened the company’s cash flow as well”, says Arto Halonen, Group CEO of Robit Plc.

Company’s guidance is unchanged: Robit estimates that the net sales in 2022 will increase and the comparable EBITDA profitability in euros will improve compared to 2021, assuming that there are no significant changes in exchange rates from the level at the end of 2021.

ROBIT PLC
Arto Halonen

Further information:
Arto Halonen, Group CEO
+358 40 028 0717
arto.halonen@robitgroup.com

Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com

Robit is the expert focused on high quality drilling consumables for mining and construction markets globally to help you drill Further 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 savings in drilling costs to our customers. Robit has its own sales and service points in eight 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, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.