ROBIT PLC PRESS RELEASE 9 AUGUST 2022 AT 11.15 AM
ROBIT PLC: NET SALES TO A NEW RECORD, PROFITABILITY IMPROVED
In terms of profitability and growth, the second quarter of 2022 was strong. The company broke the EUR 30 million mark in net sales for the first time, when net sales reached EUR 31.0 million (25.1). The increase was 23.7 percent compared to the corresponding period in both the Top Hammer and Down the Hole business units. At the same time, EBITDA improved from the comparison period by 118.0 percent to EUR 4.1 million (1.9).
For the first half of the year, Robit’s net sales increased by 19.2 percent compared to the corresponding period and totaled EUR 57.3 million (48.1). In constant currencies, the change was 15.5 percent. EBITDA improved clearly in January-June, being EUR 5.0 million (3.4). The improvement was EUR 1.6 million compared to the corresponding period.
In H1, all markets experienced growth. Growth was strongest in the Americas market area, where net sales grew by 60.3%. The Asia and East market areas also grew strongly in H1.
“The company’s priorities for 2022 are improved profitability, profitable growth and strengthening cash flow. We were successful in achieving these goals,” he says Arto HalonenCEO of Robit Plc.
Considering all identified risk factors, Robit estimates the demand in the global mining and construction industry to remain at the current level. The company 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.
Arto Halonen, CEO
+358 40 028 0717
Nasdaq Helsinki Ltd
Robit is a strongly international 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 nine 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.