ROBIT PLC STOCK EXCHANGE RELEASE 19 APRIL 2018 AT 12.00 P.M.
ROBIT PLC'S NET SALES OF THE FIRST QUARTER 2018
Robit Plc publishes annually a half-year financial report and financial statements release. In accordance with the company's IR principles, Robit Plc releases regularly also its quarterly net sales.
Robit Plc's unaudited net sales in the review period 1-3/2018 totaled EUR 21,1 million (EUR 20,0 million in the comparative period 1-3/2017) meaning a 6 percent, mainly organic growth from the comparative period 1-3/2017. Robit Plc has complied with IFRS 15 in its financial reporting as of the beginning of 2018. The initialization had no significant impact on the net sales of the review period.
Net sales, which has not totally developed in accordance with the company's expectations, has been affected by delays in certain orders and deliveries due to customers. As to Robit Plc's net sales, Q1 has typically been the most moderate quarter of the financial year. The company expects net sales to develop positively during the rest of the year.
To enable growth as well as competitiveness and cost-efficiency, Robit Group has started during the review period austerity concerning the whole organization globally. The main part of the changes is already under implementation. Due to the renewal, the company reduces globally approximately over 60 positions during 2018. The annual savings will be over 3 million euros.
The new organization structure is expected to bring company's know-how and decision-making close to its customers' business enabling faster and more effective service. As a part of the renewal of structure and operating model, the company focuses simultaneously on development of supply chain efficiency and flexibility.
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 19 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