Robit Oyj

Robit PLC reported improved profitability for the period from January 1 to September 30, 2024, despite a 9.3% decrease in net sales, totaling EUR 21.5 million. The mining industry maintained good demand, but the construction industry experienced weak demand with no significant new projects. The Top Hammer business saw a 3.1% decline in net sales due to weak construction demand, while the Down the Hole business experienced a 47.3% decrease due to the expiration of a major supply agreement and low demand in well and exploration drilling. However, the Geotechnical business grew by 20.7% in net sales. The Americas contributed to market growth. Comparable EBIT for the third quarter was EUR 0.0 million, with lower net sales and high freight costs impacting profitability. Robit launched the QuickSave concept to attract new customers and improve inventory management. On October 23, 2024, Robit revised its 2024 net sales guidance, now expecting a decline compared to 2023, but anticipates improved comparable EBIT profitability. Robit is a global leader in drilling consumables for mining and construction, aiming to be the top company in its field, with operations in over 100 countries and manufacturing in Finland, South Korea, and the UK.

Robit Plc's interim report for January to September 2024 indicates a decline in net sales by 1.6% compared to the same period in 2023, with Q3 2024 net sales down by 9.3% from Q3 2023. Despite the decrease in net sales, the company improved its EBIT, achieving a profit of EUR 1.7 million compared to a loss of EUR 1.1 million in the previous year. The mining industry's demand remained strong, while the construction industry's demand was weak, affecting sales. The Top Hammer business saw a slight decrease in sales, while the Down the Hole business experienced a significant decline due to the expiry of a major contract. The Geotechnical business, however, saw growth. Robit lowered its net sales guidance for 2024, expecting a decline compared to 2023, but anticipates improved comparable EBIT profitability. The company reported increased inventories to ensure customer deliveries, and its financial position showed improved cash flow from operations. The company aims to focus on acquiring new customers and optimizing inventory levels. Robit's financial targets include achieving a comparable EBIT profitability of over 10% in the long term.

Robit PLC has issued a profit warning, indicating a revision in its financial expectations for 2024. The company has lowered its net sales guidance, anticipating a decline in sales compared to 2023, primarily due to challenges in replacing completed delivery contracts and lower-than-expected demand in the construction industry. However, Robit maintains its previous guidance that EBIT profitability is expected to improve. The company specializes in high-quality drilling consumables for the mining and construction markets and aims to be a leading provider in this sector. Robit operates sales and service points in seven countries and distributes its products to over 100 countries, with manufacturing facilities in Finland, South Korea, and the UK. Robit is listed on Nasdaq Helsinki Ltd.

Robit Plc has appointed members to its Shareholders' Nomination Committee, chosen by the company's four largest registered shareholders as of 2 September 2024. The Committee will select a chairman from its members at its first meeting. Its responsibilities include preparing and presenting proposals for the remuneration, number, and selection of Board of Directors members to the Annual General Meeting, as well as establishing principles for board diversity. The Committee's proposals are to be submitted to the Board of Directors by 31 January each year before the next Annual General Meeting. Details about the Committee's duties are available on Robit's website. Robit Plc specializes in high-quality drilling consumables for the mining and construction markets and aims to be the leading company in this sector. It operates sales and service points in seven countries and distributes to over 100 countries, with manufacturing facilities in Finland, South Korea, and the UK. Robit shares are listed on Nasdaq Helsinki Ltd.

Robit Plc announced a manager's transaction involving Ville Iljanko, a senior manager at the company. On August 28, 2024, Iljanko acquired 4,500 shares of Robit Plc on Nasdaq Helsinki Ltd at a unit price of 1.6557 EUR. The transaction details were disclosed as required. For more information, contact Arto Halonen, Group CEO of Robit Plc. Robit Plc specializes in high-quality drilling consumables for mining and construction markets, aiming to be a global leader in this field. The company operates sales and service points in seven countries and has a distributor network in over 100 countries. Robit’s manufacturing units are located in Finland, South Korea, and the UK, and its shares are listed on Nasdaq Helsinki Ltd.

Robit Plc announced a manager's transaction involving Perttu Aho, a senior manager, who acquired 3,750 shares at a unit price of 1.6557 EUR on August 28, 2024, at Nasdaq Helsinki Ltd. The transaction was initially notified under reference number 75961/4/4. Robit Plc is a global expert in high-quality drilling consumables for mining and construction markets, aiming to be the leading company in this sector. The company operates sales and service points in seven countries and has a distributor network covering over 100 countries. Its manufacturing units are located in Finland, South Korea, and the UK. Robit's shares are listed on Nasdaq Helsinki Ltd. For more information, contact Group CEO Arto Halonen.

Robit Plc announced a manager's transaction involving Jorge Leal, a senior manager at the company. On August 28, 2024, Leal acquired 4,377 shares of Robit Plc at a unit price of 1.6557 EUR per share on NASDAQ Helsinki Ltd. The aggregated transaction had a volume-weighted average price of 1.6557 EUR. For more information, contact Arto Halonen, Group CEO of Robit Plc. Robit Plc specializes in high-quality drilling consumables for mining and construction markets and aims to be the leading company in this field. The company operates in over 100 countries with manufacturing units in Finland, South Korea, and the UK. Its shares are listed on Nasdaq Helsinki Ltd.

Robit Plc has announced the appointment of Pia Mutanen as the new Group HR Director, effective from January 1, 2025. Mutanen, who holds a Master of Science in Engineering, will join Robit Plc from Fastems Oy Ab, where she is currently Vice President of People & Culture. She has also held previous HR roles at Tampere Hall and Sandvik Mining & Construction Oy. Mutanen will replace the current Group HR Director, Jaana Rinne, who will leave the company at the end of December 2024. A transition period between Mutanen and Rinne will begin in November 2024. The Group CEO, Arto Halonen, expressed gratitude to Rinne for her contributions and welcomed Mutanen to the team. Robit Plc specializes in high-quality drilling consumables for the mining and construction markets and aims to be a leading company in this sector. The company's shares are listed on Nasdaq Helsinki Ltd.

Robit Plc released its half-year report for January-June 2024, showing improved profitability and moderate growth. Key financials for Q2 2024 compared to Q2 2023 include a slight increase in net sales by 0.9% to EUR 24.6 million, and a significant rise in EBITDA by 26.3% to EUR 1.7 million. The company's EBIT also improved markedly to EUR 0.7 million from EUR 48,000. For H1 2024, net sales increased by 2.4% to EUR 47.4 million, and EBITDA surged to EUR 3.7 million from EUR 1.4 million in H1 2023. The market outlook for 2024 remains stable with good demand expected in the mining industry and satisfactory demand in the construction industry. The company's guidance for 2024 remains unchanged, anticipating improved net sales and adjusted EBIT profitability compared to 2023. CEO Arto Halonen noted that while the mining industry demand remained strong, the construction industry saw slower-than-expected improvement. Orders received during the review period reached EUR 25.8 million, up 13.6%. The Top Hammer business saw a 7.4% growth, particularly in the Australasia region, while the Down the Hole and Geotechnical businesses experienced declines in net sales. Profitability was positively impacted by measures to strengthen competitiveness, although high air freight costs posed a challenge. The company expects these costs to decrease in the latter half of the year. Net cash flow from operations was EUR 2.0 million, with inventories growing due to longer transport times and new customer-specific inventories. Robit updated its strategy for 2024-2027, focusing on growth in selected high-potential markets and strengthening its core product range. The company aims for long-term financial goals of revenue growth faster than market growth and comparable EBIT profitability of 10%. Sustainability efforts showed positive development in emissions intensity and CO2-neutral electricity contracts in Finland, although safety incidents increased. The company continues to focus on improving safety awareness. Financially, the company saw a significant improvement in net income and a decrease in financial expenses. Cash flow from operating activities improved, while cash flows from investing and financing activities showed minor fluctuations. The company's financial position remains strong with improved gearing and equity ratio. Personnel decreased slightly, with 66% of employees located outside Finland. The company continued to focus on its long-term financial targets and made several key management and structural decisions throughout the period. No significant events occurred after the review period.

Robit Plc's Board of Directors has approved a performance share plan for key employees for the period 2025-2027. The plan aims to align the interests of shareholders and key employees, enhance company value, and achieve strategic goals. It includes approximately 12 key employees and consists of three components: employee investment, company reward shares (stay matching), and performance-based additional shares (performance matching). The performance-based shares will be evaluated over three one-year periods (2025, 2026, 2027), with targets set annually by the Board. Rewards will be distributed in April 2028, with a potential total of 303,750 shares, representing 1.43% of the company's current share capital. Robit Plc focuses on high-quality drilling consumables for global mining and construction markets, aiming to be the leading company in its field. The company operates sales and service points in seven countries and has manufacturing units in Finland, South Korea, and the UK. Its shares are listed on Nasdaq Helsinki Ltd.