ROBIT PLC STOCK EXCHANGE RELEASE 3 JANUARY 2019 AT 11.00 A.M.
ROBIT PLC'S FINANCING AGREEMENT RENEWED
Robit Plc has agreed on the restructuring of EUR 35.0 million in loans with its main financing bank. The
covenant of the company's financing agreement, interest-bearing net debt in relation to EBITDA, did not
meet the requirements of the financing agreement at 31 December 2018. The company has obtained the
consent of the financing bank to breach this covenant.
In the new agreement, Robit has also agreed with the financing bank that in financial period 2019 the
covenant to be followed will be EBITDA in the periods 1 January - 30 June 2019 and 1 January -
31 December 2019, after which the former covenant will be restored.
Of the loans granted under the agreement, EUR 5 million will be repaid in both January and April 2019 and
the margin on the loans will be increased by, on average, 1.1 percentage points. The loan margins will be
restored to the level specified in the financing agreement when the original level of the covenant under the
financing terms, interest-bearing net debt in relation to EBITDA, is achieved. The company will make the
repayments from its liquid funds.
In its interim report for 30 June 2018, Robit Group had liquid funds of EUR 33.6 million and interest-bearing
financial liabilities totalling EUR 46.5 million. Net interest-bearing debt therefore amounted to EUR 12.9 million.
CFO, interim CEO
Ilkka Miettinen, CFO, interim CEO
Tel. +358 50 384 8318
Robit is a strongly internationalised growth company servicing global customers and selling drilling
consumables for applications in mining, construction and contracting, tunnelling and well drilling. The
company's offering is divided into three product and service ranges: Top Hammer, Down-the-Hole and
Digital Services. Robit has 17 of its own sales and service points throughout the world as well as an active
sales network in 115 countries. Robit's manufacturing units are located in Finland, South Korea, Australia,
the UK and the USA. Robit's shares are listed on NASDAQ Helsinki Ltd. Further information is available
Distribution: Nasdaq Helsinki Ltd