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Robit Plc: Robit Plc books 0.8 million euros entry to the last quarter of 2019 EBITA

14.02.2020 klo 12:10 Robit Plc: Robit Plc books 0.8 million euros entry to the last quarter of 2019 EBITA

ROBIT PLC             STOCK EXCHANGE RELEASE              FEBRUARY 14 2020 AT 12.10

Robit Plc books 0.8 million euros entry to the last quarter of 2019 EBITA

Robit Plc. decided to sharpen the manufacturing operations of its Down the Hole business segment during the first half of 2019.  The company decided to unify the production of the Brighouse factory in England to the company’s other manufacturing units in Chesterfield, England and Perth, Australia.

The decision of the manufacturing transfer was made in the beginning of July 2019 and in connection with this the company recognized a write-down of approximately 1,0 million euros on the assets in use in Halco Brighouse production facility.

In February 2020 Robit has re-leased these premises and re-evaluated the basis of the write-down. According to the evaluation the company books approximately 0.8 million euros for the last quarter of 2019. This liability does not have a significant impact for the result on the annual level.

ROBIT PLC

Tommi Lehtonen, CEO

Additional information:
Tommi Lehtonen, CEO
Tel. +358 40 724 9143
tommi.lehtonen@robitgroup.com

DISTRIBUTION:  
Nasdaq Helsinki
Key media
www.robitgroup.com

Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, surface drilling and foundation, underground construction and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 14 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 and the UK. Robit's shares are listed on NASDAQ Helsinki Ltd. Further information is available at: www.robitgroup.com

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