ROBIT PLC PRESS RELEASE 17 AUGUST 2017 AT 11.05 A.M.
ROBIT PLC'S GROWTH CONTINUED - COMPANY DOUBLED ITS NET SALES
Robit Plc was satisfied with the net sales growth of the first half-year. The company's net sales grew with 102 percent being EUR 42,6 million (21,1). The growth was mainly driven by acquisitions made in 2016. In addition, the organic net sales developed in line with the company's long-term growth target.
The period's profitability was pressed with the extraordinary costs relating to the company's change to Nasdaq Helsinki main list in May and acquisition made in 2017. Company's profitability was also affected by investments to integration activities and strengthening personnel for future growth.
Review period was time of strong investments to support future growth. With these investments company is planning to reach growth and profitability targets. Robit Plc's growth strategy proceeded as planned. The company made the biggest manufacturing investment decision in its history in March to build a new state-of-art, automated factory in Korea. This will further support the company's growth and delivery capability. In addition, Robit Plc acquired Halco including the operations of Halco USA and UK. After the latest acquisitions the company has six manufacturing plants. The company established also a subsidiary to Kazakhstan to support the growth strategy.
The personnel grew with 62 persons. The total number of employees is 325, out of which 73 percent is located outside Finland.
Together with improved market signals and above-mentioned investments Robit Plc looks for strong organic growth and results in becoming years. The company continues also actively monitoring potential acquisition targets. To enable the further growth, Robit Plc listed on Nasdaq Helsinki main list. The total proceeds of the share issue were EUR 49,5 million.
ROBIT PLC
Mika Virtanen, Group CEO
Further information:
Robit Plc
Mika Virtanen, Group CEO
+358 40 832 7583
mika.virtanen@robitgroup.com
Robit is a strongly internationalized growth company selling and servicing global customers in drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into three product and service range: Top Hammer and Down-the-Hole products as well as Digital Services. Robit has 21 own sales and service points as well as active sales networks in 115 countries. The manufacturing units are located in Finland, South Korea, Australia, UK and USA.
Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com