ROBIT PLC STOCK EXCHANGE RELEASE 15 OCTOBER 2018 AT 8.05 A.M.
ROBIT LOWERS 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 significantly lower than the level of previous year.
Robit's performance has been weaker than planned in the third quarter. The biggest challenges are in Down the Hole -business in Australasia and in Top Hammer -business in Americas region. Previously reported restructuring activities have been carried out as planned and the profit improvement will be realized fully during 2019. Net sales growth is essential since company has free production capacity.
Due to the lower than planned net sales development, Robit lowers profit guidance given June 15, 2018 as follows:
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 significantly lower than the level of previous year 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 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.
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.
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