FINANCIAL STATEMENTS 2017 ANALYST AND PRESS CONFERENCE 20 FEBRUARY 2018

Transcription

1 FINANCIAL STATEMENTS 2017 ANALYST AND PRESS CONFERENCE 20 FEBRUARY 2018

2 HIGHLIGHTS 2017 PROS Growth continued 38% growth in sales Korean investment progressing as planned plant inaugurated on 8 Feb 2018 Change to Nasdaq Helsinki main list Halco acquisitions for future growth CONS Room for improvement in NWC efficiency Profitability affected by share issue expenses, acquisitionrelated expenses, adverse foreign exchange effects, slow moving inventory write-offs and certain other one-off growth-related costs Fixed cost growth not in line with sales growth Robit Plc - Growth Company 2

3 ROBIT GROWTH AND SALES COMPANY ORGANIC GROWTH SALES GROWTH SALES STRUCTURAL THROUGH ACQUISITIONS GROWTH SALES Robit Plc - Growth Company 3

4 SALES GROWTH Last 12 years' average growth 26% per annum 38% 80 EURm % 21% 12% 10% 15% 42% 36% 23% 44% -13% 42% Sales Growth-% Robit Plc - Growth Company 4

5 ROBIT BUSINESS CONCEPT Robit is above all a growth company. Robit has tight focus on drilling consumables (all OPEX) having the widest offering in the industry. 150 dealers together with own sales and service points give an excellent reach to the customer interface in different market segments and applications. Robit acts globally with 21 sales and service points supporting its distributors by emphasizing availability via local presence. One goal for everybody Growth. Robit Plc - Growth Company 5

6 OUR FOCUS - 4 MARKET SEGMENTS MINING CONSTRUCTION WELL DRILLING TUNNELING Robit Plc - Growth Company 6

7 COMPREHENSIVE PRODUCT OFFERING OF DRILLING CONSUMABLES Forming the basis for growth in the future Top Hammer Down the Hole Digital Services Robit Plc - Growth Company 7

8 GLOBAL MANUFACTURING FOOTPRINT DTH Brighouse, UK, 2017 TH Lempäälä, Finland, 1985 DTH Sherman, USA, 2017 TH Donghae, South Korea, 2011 DTH Chesterfield, UK, SOUTH KOREA ab. EURm 10 investment in production unit (TH) announced in March 2017 Perth, Australia, 2016 DTH SIX MANUFACTURING PLANTS Ensuring good availability of products and service while enabling efficiency Supporting future growth Robit Plc - Growth Company 8

9 HUMAN RESOURCES 76 % of personnel outside Finland Number of employees at the end of period Age distribution at the end of period 329 Sales & Administration Production

10 RESULTS 2017 Profitability not in line with the company s strategic targets NET SALES ,2 EURm (+38%) EBITDA ,6 EURm (1,8%) EBITDA (adj.) ,5 EURm (4,0%) EBITA ,7 EURm (-3,1%) EBITA (adj.) ,9 EURm (-1,0%) ,1 EURm ,5 EURm (11,7%) ,3 EURm (16,0%) ,7 EURm (7,4%) ,5 EURm (11,7%) Adjustments consist of following items: expensed share issue expenses 1,3 EURm, other acquisition related expenses 0,5 EURm and re-oragisating expenses 0,1 EURm. Amortization related to the acquisitions were 0,9 EURm. Robit Plc - Growth Company 10

11 NET SALES, EURm 88,2 64,1 Sales (EURm) 30,7 34,0 38,3 45,6 43,0 45, H2/2016 H2/2017 Robit Plc - Growth Company 11

12 REGIONAL SALES DEVELOPMENT Global platform 21 own sales & service points, ca. 150 dealers Availability is the key competitive edge aim to secure it with the strong market presence Robit sales & service point Net sales M Growth% 29,2 32,3 24,7 8,5 15,3 10,9 11,3 12,2 3,3 4,5 +80% +11% +37% +4% +102% AMERICAS EMEA CIS & EAST ASIA AUSTRALASIA Robit Plc - Growth Company 12

13 PROFITABILITY DEVELOPMENT 7,0 7,5 Adjustments consist of the following items: 6,0 Share issue expenses 1,3 EURm Adjusted EBITA (EURm) 5,0 3,0 1,0 1,9 3,3 3,8 3,4 Other acquisition related expenses 0,5 EURm Re-organising related expenses 0,1 EURm Amortization related to the acquisitions 0,9 EURm EBITA was also affected by: -1,0-3, H2/2016 H2/2017-0,9-1,6 Strengthening personnel Integrating acquired units Higher fixed costs Lower than targetted sales Robit Plc - Growth Company 13

14 KEY FINANCIALS CAPITAL EXPENDITURE 11,1 EURm Robit decided to invest 10 EURm to new state-of-art manufacturing in Korea. 6,9 EURm of this total investment was paid in The rest of the investments consist of acquisition of Halco assets in USA, UK and some other minor capital expenditure. Equity ratio, % Net interest-bearing debt Net debt Net gearing, % 40,0 36,9 80,0 % 71,5 % 30,0 52,9 % 60,0 % 71% 20,0 40,0 % 47% 44% 58% EURm 10,0 0,0 6,9 23,2 % 11,0 8,4 % 7,7 20,0 % 0,0 % -10,0-4,1 % -20,0 % ,0-30,0-46,1 % -3,9-22, H1/ H1/ ,0 % -60,0 % Robit Plc - Growth Company 14

15 CASH FLOW, EURm (NET CASH FROM OPERATING ACTIVITIES) 2,8 2,9 Building new global organization has consumed cash upfront = higher fixed costs. Net working capital efficiency improvement will be more in focus in Taxes and interest paid 1,6 EURm. 1,4 0,7 1,0 0,3-1,9-2, H2/2016 H2/2017 Robit Plc - Growth Company 15

16 SHARE INFORMATION On 31 December 2017 the company had shareholders EUR 6,47 On 31 December 2017 the company held own shares; 0,4 % of the shares Market capitalization on 31 December 2017 was EUR 136 million (share price EUR 6,47) EUR 5,68 EUR 7, Trading in the shares of Robit Plc commenced on 17 May 2017 on the official list maintained by Nasdaq Helsinki Ltd Robit Plc issued 5,000,000 (approx. 31% prior and 24% following the offering) new shares in the company to institutional investors in an accelerated book-built offering on 24 May 2017 The subscription price was set at EUR 9.90 per offer share amounting to total proceeds of EUR 49.5 million before commissions and expenses The subscription price was 2.9 per cent higher than the volume-weighted average price per share for the period from the date of the announcement to investigate the transfer to the official list of Nasdaq Helsinki Robit Plc - Growth Company 16

17 SHORT-TERM FOCUS Sales, Sales & Sales Market share growth Cash generation Profitability NWC Robit Plc - Growth Company 17

18 MEDIUM & LONG-TERM FOCUS Focus in Robit 4.0 Distributor concept execution Continue strong growth Branding Projects Project businesses Digitalization opportunities New Robit Way Implementation Focus work with distributors Focus on personnel development Robit Plc - Growth Company 18

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