Brief: Robit Q1 Adjusted EBITDA Down At EUR 1.0 Mln

Robit Oyj

23/04/2020 09:16

April 23 (Reuters) - Robit Plc  ROBIT.HE :
    * ROBTI PLC: ROBIT PLC INTERIM REPORT 1 JANUARY – 31 MARCH
2020:
NET SALES AND ORDER INTAKE GREW
    * Q1 NET SALES EUR 21.5 MILLION VERSUS EUR 20.1 MILLION YEAR
AGO
    * OUTLOOK FOR ROBIT'S TARGET MARKETS IN 2020 HAS BECOME MORE
UNCERTAIN DUE TO PANDEMIC.
    * Q1 ADJUSTED EBITDA EUR 1.0 MILLION VERSUS EUR 1.1 MILLION
YEAR
AGO
    * UPDATING OUTLOOK AND GUIDANCE WILL BE POSSIBLE WHEN MARKET
SITUATION PROVIDES A NORMAL OPPORTUNITY TO DO SO.
    * ON CORONAVIRUS: EFFECTS OF RAPID GLOBAL SPREAD OF
CORONAVIRUS
PANDEMIC ON DEMAND FOR COMPANY'S PRODUCTS WERE MINOR DURING
REVIEW PERIOD.
    * EFFECTS OF SAVINGS ASSOCIATED WITH CLOSURE OF ROBIT'S OWN
OFFICE
BRANCH WILL BE REALIZED FROM Q2 OF 2020 ONWARDS
    * WE BELIEVE THAT DEMAND WILL SLOW DOWN TO SOME EXTENT IN
COMING
MONTHS
    * DOES NOT BELIEVE, HOWEVER, THAT SITUATION CAUSED BY
PANDEMIC
WILL SUDDENLY CHANGE CUSTOMER DEMAND FOR ROBIT'S OFFERING
    * CORONAVIRUS SITUATION IS EXPECTED TO HAVE A LIMITED IMPACT
ON
COMPANY'S DEMAND
    * IT APPEARS THAT DRILLING OPERATIONS ON MINING OR
CONSTRUCTION
SITES WILL CONTINUE LARGELY UNINTERRUPTED

Source text for Eikon:  ID:nGNE4m9Mtv 
Further company coverage:  ROBIT.HE 

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