ROBIT PLC STOCK EXCHANGE RELEASE 15 JUNE 2018 AT 8.00 A.M.
ROBIT UPDATES ITS PROFIT GUIDANCE FOR YEAR 2018
Robit updates its profit guidance for year 2018. According to management's revised estimation, the company's euro-denominated EBITA for year 2018 (without items affecting comparability) will be slightly lower than the level of previous year 2017.
Robit's net sales is not in line with the company's long-term target level since the acquired companies' net sales development is below the company's targets.
Besides the net sales being behind the targets, the result of the first half-year 2018 has been pressed by delayed start of production as well as unpredictably high start-up costs of the new manufacturing plant in South Korea. In addition, goal-directed pricing to grow market share in certain markets as well as customers has been pressing EBITA as percentage of net sales.
Restructuring activities made during financial year will improve the company's cost structure during the second half-year.
Robit trusts the market demand to remain on a good level.
Robit's new profit guidance for year 2018:
According to Robit's revised estimation, euro-denominated EBITA for year 2018 (without items affecting comparability) will be slightly lower than the level of previous year 2017 provided that the market demand stays at the current level and there are no unpredictable market disruptions.
Previous profit guidance for year 2018:
According to Robit's estimation, EBITA as percentage of net sales for year 2018 (without items affecting comparability) will improve significantly from the EBITA level of year 2017 provided that the market demand stays at the current level and there are no unpredictable market disruptions.
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
