Interim report Q2 2024/25 - Half year
Roblon A/S reported increased revenue and earnings for the first half of 2024/25
Highlights
In H1 2024/25, consolidated revenue amounted to DKKm 113.0, against DKKm 110.6 in the year-earlier period. The Composite product group generated revenue growth, while the FOC product group’s revenue declined.
Operating profit before depreciation, amortisation and impairment (EBITDA) and before special items for H1 2024/25 was DKKm 26.2 (DKKm 15.1) and operating profit (EBIT) before special items was DKKm 19.0 (DKKm 6.8).
Consolidated revenue was realised at the lower end of the previously guided range, whereas earnings were realised at the upper end of the previously guided range for the first half. The improved earnings were due to a favourable product mix and realised productivity enhancements resulting from investments in production and ongoing optimisation of operations.
In the first half of 2024/25, Roblon decided to cease production and marketing of a product for the European FOC market. In the financial statements, this decision meant that an expense of DKKm 3.9 was recognised under special items regarding impairment of production plant and a product development project and, to a lesser extent, a loss on inventories.
The profit from continuing operations before tax for H1 2024/25 was DKKm 14.5 (DKKm 6.2).
In Company Announcement no. 6 dated 2 June 2025, the Company stated that a declaration of intent has been signed regarding the divestment of Roblon’s US subsidiary. The effects of this on Roblon’s interim financial statements for the first half are as follows:
· A loss of DKKm 31 was recognised under loss from discontinued operations
· The total value of the US subsidiary at 30 April 2025 was recognised at DKKm 34 in the balance sheet
· At 30 April 2025, consolidated equity was reduced to DKKm 171.1 and the solvency ratio was reduced by 3.6 percentage points due to the value adjustment of the US subsidiary
As part of the divestment of the US subsidiary, Roblon will make a contribution of approximately DKKm 7.7 on completion of the divestment. As previously mentioned, an additional expense of DKKm 2.5-4 is expected to be incurred in advisory fees. Subsequent to the divestment, Roblon will have no further liquidity obligations towards the divested US subsidiary.
The divestment is expected to be completed by the end of July 2025.
Guidance for 2024/25
In Company announcement no. 6 dated 2 June 2025, Management announced that it had upgraded its full-year 2024/25 guidance for continuing operations. The guidance remains as follows:
· revenue in the range of DKKm 220-250 against the previously guided range of DKKm 210-240
· operating profit before depreciation, amortisation and impairment (EBITDA) and before special items in the range of DKKm 40-50 against the previously guided range of DKKm 30-40
· operating profit (EBIT) before special items in the range of DKKm 26-36 against the previously guided range of DKKm 16-26
As previously guided, special items relating to expenses in connection with the divestment of the subsidiary are expected to be in the range of DKKm 2.5-4. The amount will be reported under profit/loss from discontinued operations.
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