ROBIT PLC STOCK EXCHANGE RELEASE 19 OCTOBER 2017 AT 12.00 P.M.
ROBIT PLC: NET SALES OF THE THIRD QUARTER 2017 AND CHANGE OF GUIDANCE
Robit Plc publishes annually a half-year financial report and a financial statements release. In accordance with the company's IR principles, Robit Plc releases quarterly also its cumulative net sales.
Robit Plc's unaudited net sales in the review period 1-9/2017 totaled EUR 65,7 million (EUR 42,0 million comparative period 1-9/2016), which means 54 percent growth from the comparative period. Factors affecting growth were both organic as well as structural with acquisitions made during H2/2016 and in the beginning of 2017.
Calculated on a basis of the financial statements for the financial year 2016 prepared in accordance with IFRS, the company's EBITA as percentage of net sales (without items affecting comparability) was 11,7 percent. The management of the company estimated in August 2017 that the company's EBITA as percentage of net sales (without items affecting comparability) is lower when compared to the financial year 2016.
According to the management's current estimation, Robit Plc's EBITA as percentage of net sales (without items affecting comparability) will be significantly lower than the level of the year 2016 provided that the market demand stays at the current level and there are no unpredictable market disruptions.
Robit Plc's net sales for the financial year 2017 will be in line with the company's expectations. Development of the acquired companies' business including net sales has been weaker than expected and has fallen short of the set targets especially in Asia. The result of the financial year 2017 is pressed by the integration of new units, one-time costs relating to global implementation of the ERP system and intense personnel investments to ensure the company's planned growth. Robit Plc trusts the market demand to remain on a good level.
Robit Plc is a growth company and the company's financial target is to reach annual organic growth of at least 15 percent. The company's long-term strategic target is an EBITA margin of over 13 percent.
ROBIT PLC
Mika Virtanen, Group CEO
Further information from the Group CEO from 19 October 2017 at 3.00 p.m. Finnish time:
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