NET SALES AND PROFITABILITY CONTINUED TO IMPROVE

ROBIT PLC        PRESS RELEASE        26 OCTOBER 2022 AT 11.40 AM

ROBIT PLC: NET SALES AND PROFITABILITY CONTINUED TO IMPROVE IN THE THIRD QUARTER

Robit continued its good development in the third quarter of the year 2022.  

Robit’s net sales for the third quarter was EUR 28.4 million (26.4). There was an increase of 7.8 percent compared to the corresponding period. Orders received totalled EUR 27.7 million and grew by 8.1 percent from the corresponding period. Simultaneously, EBITDA profitability improved by 39.3 percent totalling EUR 3.5 million (2.5).

In January–September, the company’s net sales improved by 15.2 percent from the corresponding period and totalled EUR 85.8 million (74.5). This corresponds exactly Robit’s growth defined in its strategy. Orders received grew by 9.2 percent from the corresponding period. EBITDA profitability improved by 42.5 percent totalling EUR 8.5 million in January–September (5.9). The company’s improvement measures concerning profitability continued their systematic progress. By means of pricing measures the company managed to mitigate the increase in raw material costs and to kept fixed costs under control.

The Top Hammer was still giving the biggest growth and the business grew by 24.0 percent to EUR 50.1 million in January–September (40.4). Delivery capacity was on a good level enabling strong growth. Simultaneously, Down the Hole business grew by 4.6 percent totalling EUR 35.7 million (34.1). Growth was strong especially in North America.

Geographically, all market areas experienced growth in January–September. Growth was especially driven by the Americas market area, where net sales grew by 42.0 percent due to good demand level. The Asia and East market areas also grew strongly in January–September achieving growth of over 15 percent.

”In the third quarter, we were successful in achieving the company’s numerical priorities defined for 2022. Our…