PROFIT WARNING, INSIDER INFORMATION: ROBIT WEAKENS ITS GUIDANCE FOR 2023. ADDITIONALLY, COMPANY CONSIDERS WINDING DOWN ITS PRODUCTION ACTIVITY IN AUSTRALIA.
ROBIT PLC STOCK EXCHANGE RELEASE 27 JUNE 2023 AT 8.00 AM
PROFIT WARNING, INSIDER INFORMATION: ROBIT WEAKENS ITS GUIDANCE FOR 2023. ADDITIONALLY, COMPANY CONSIDERS WINDING DOWN ITS PRODUCTION ACTIVITY IN AUSTRALIA.
Robit Plc weakens its guidance for 2023. The company has not managed to compensate lost sales from Russia. In addition, the weakening of the market in construction industry, especially in Europe and Asia, has affected the company’s financial performance at the beginning of the financial year. As a result of these factors, Robit Plc will change its guidance for the financial year 2023.
New guidance for 2023:
In 2023, Robit Plc expects net sales to be EUR 90–100 million and comparable EBITDA EUR 3–6 million.
Previous guidance for 2023:
Robit Plc expects net sales in 2023 to increase and comparable EBITDA profitability in euros to remain unchanged or improve slightly from 2022, assuming that there are no significant changes in the exchange rates from the level at the end of 2022.
As a part of the company’s savings program, Robit Plc is considering winding down its production activity and closing its factory in Perth, Australia; moving that activity to the company’s other factories. In the proposed new set-up, Robit Australia would focus on sales and service in the local Australian market. In the event that production is ceased in Perth, the estimated full annual cost savings are approximately EUR 2 million and the restructuring costs are expected to be approximately EUR 0.6 million.
Robit Plc will publish its half-year report for 1 January – 30 June 2023 on Tuesday 1 August 2023.
ROBIT PLC
Arto Halonen
Further information:
Robit Plc
Arto Halonen, Group CEO
+358 40 028 0717
Distribution:
Nasdaq Helsinki Ltd
Key media
Robit is the specialist focused on high quality drilling consumables for the mining and construction markets globally to help you drill even Further. Faster. Robit strives to be the world’s number one drilling consumables company. Through our proven, high-quality Top Hammer, Down the Hole and Geotechnical products and our expert services, we deliver drilling cost savings to our customers. Robit has its own sales and service points in seven countries and an active network of distributors through which it sells to more than 100 countries. Robit’s manufacturing facilities are located in Finland, South Korea, Australia and the United Kingdom. Robit shares are listed on Nasdaq Helsinki Ltd. More information is available at .
