ROBIT PLC PRESS RELEASE 19 OCTOBER 2017 AT 12.30 P.M.
ROBIT PLC CONTINUED ITS STRONG GROWTH IN 1-9/2017; PROFITABILITY WEAKER THAN EXPECTED
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 continues its strong growth. The company'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.
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.
In line with its strategy, Robit Plc continues strongly as a growth company. 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