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ROBIT PLC LAUNCHES MEASURES TO RETURN TO PROFITABLE GROWTH

PR-Inside.com: 2018-12-07 12:03:02

ROBIT PLC                      PRESS RELEASE                         7 DECEMBER 2018 at 12.00 or 13.00

ROBIT PLC LAUNCHES MEASURES TO RETURN TO PROFITABLE GROWTH

The objective of the Robit Plc's Board of Directors, elected by an Extraordinary General Meeting held on
4th December 2018, is to prepare, together with the management, an efficiency programme and to launch
measures to return the company to a profitable growth.

The efficiency programme will focus on four areas:

  • Developing the distributor network and the company's own sales, and boosting sales
  • Implementing a working capital efficiency programme, prepared by the company's management,
    which is expected to improve the cash flow.  
  • Improving the utilisation rate of the factory network's capacity and using resources more effectively
  • Committing personnel to the programme, ensuring the motivation and performance of the organisation

The company has implemented as planned the structural and savings measures initiated on 29 January
2018. The positive impact on earnings of these measures will be realised to the full during 2019. Savings on a
n annual level are estimated to be more than EUR 3 million.

The new automated factory which was opened in South Korea in February 2018 has improved the
company's delivery capability to meet demand for shanks and rods of the Top Hammer product line.

Robit will report on the efficiency programme in more detail in connection with the company's financial
statements release, to be published on 20 February 2019.

"During the last five years, Robit has changed significantly from being a Lempäälä export company to
become a global operator that has manufacturing operations on all continents. We have expanded our
offering from drill bits to a complete range of Top Hammer products as well as the market's widest range of
DTH hammers.
2018 is the first year in the company's history that the company's net sales will not increase
by more than 10%. We have been unsuccessful in the takeover of the corporate acquisitions made in 2016,
because we have not succeeded in turning the acquired business operations to the desired level of growth.
Robit's traditional business has developed positively, however, and the company has strong prerequisites for
returning to a growth track, aided by its expertise and motivated personnel," says Harri Sjöholm, Chairman of
the Board of Robit Plc.

ROBIT PLC

Harri Sjöholm, Chairman of the Board

Additional information:

Robit Plc
Harri Sjöholm

+358 400 622 092

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 17 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. Robit's shares are listed on NASDAQ Helsinki Ltd. Further information is available at 
www.robitgroup.com.              


Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com  




This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Robit Oyj via Globenewswire




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