Brief: Robit Cuts Guidance, Considers Closing Factory In Perth

Robit Oyj

27/06/2023 06:13

June 27 (Reuters) - Robit Oyj  ROBIT.HE :
    * RROBIT WEAKENS ITS GUIDANCE FOR 2023. ADDITIONALLY, COMPANY CONSIDERS WINDING DOWN ITS
PRODUCTION ACTIVITY IN AUSTRALIA.
    * IN 2023 EXPECTS NET SALES TO BE EUR 90-100 MILLION AND COMPARABLE EBITDA EUR 3-6 MILLION
    * PREVIOUS GUIDANCE: ROBIT PLC EXPECTS NET SALES IN 2023 TO INCREASE AND COMPARABLE EBITDA
PROFITABILITY IN EUROS TO REMAIN UNCHANGED OR IMPROVE SLIGHTLY FROM 202
    * IS CONSIDERING WINDING DOWN ITS PRODUCTION ACTIVITY AND CLOSING ITS FACTORY IN PERTH,
AUSTRALIA
    * IN PROPOSED NEW SET-UP, ROBIT AUSTRALIA WOULD FOCUS ON SALES AND SERVICE IN LOCAL
AUSTRALIAN
MARKET
    * IF PRODUCTION IS CEASED IN PERTH, SEES RESTRUCTURING COSTS TO BE ABOUT EUR 0.6 MILLION
    * CUTS GUIDANCE AS HAS NOT MANAGED TO COMPENSATE LOST SALES FROM RUSSIA
    * CUTS GUIDANCE AS WEAKENING OF MARKET IN CONSTRUCTION INDUSTRY, ESPECIALLY IN EUROPE, ASIA,
HAS
AFFECTED CO'S FINANCIAL PERFORMANCE AT START OF FY

Source text for Eikon:  ID:nGNE92CFT2 
Further company coverage:  ROBIT.HE 

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