ROBIT PLC PRESS RELEASE 28 FEBRUARY 2017 AT 11.45 A.M.
ROBIT PLC'S GROWTH CONTINUED - NET SALES INCREASED +40%, PROFIT DOUBLED
Robit Plc was really pleased with the results of the financial year 2016. Net sales increased 40 percent up to EUR 63,9 million (2015: 45,6) mainly due to the acquisitions implemented during the year. Despite the acquisitions and related integration projects Robit Plc succeeded in significant profit improvement. The EBITDA doubled and exceeded EUR 10 million for the first time.
The notable increase in profitability was result of improved productivity and procurement together with the two acquired profitable companies in Australia and UK.
The personnel grew with 129 persons. The total number of employees at the end of 2016 was 263, out of which 75 percent is located outside Finland.
Robit Plc has continued its investments in even stronger presence in the market. The company established two new Sales & Service points during 2016, one in Bangkok (Thailand) and another in Dubai (UAE).
The company has continued its long-term investments in Digital Services. The two new products for measuring the hole deviation (M-Sense and S-Sense) were launched at the end of the year and the first deals were made in the beginning of 2017. Robit Plc has a strong trust on the future opportunities of digital services and thus continues to develop the product family.
Thanks to the enlarged product offering combined to the comprehensive distribution network (115 countries) the company looks for strong organic growth in the becoming years. Robit Plc continues to analyze also potential acquisition targets.
Robit Plc made in today's Board meeting also a decision to investigate the transfer to the Nasdaq Helsinki main list.
ROBIT PLC
Harri Sjöholm, Chairman
Further information:
Robit Plc
Harri Sjöholm, Chairman
+358 400 622 092
Certified Advisor
Skandinaviska Enskilda Banken AB (publ) Helsinki Branch
Tel. +358 9 6162 8101
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 stock points as well as active sales networks in 115 countries. The manufacturing units are located in Finland, South Korea, Australia, UK and USA. Robit is listed in Nasdaq Helsinki Ltd's First North Finland marketplace with trading code ROBIT. For more information, see www.robit.fi.
Distribution:
Nasdaq Helsinki Ltd
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