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Robit Oyj Interim / Quarterly Report 2026
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Interim / Quarterly Report
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Robit Plc
Interim Report
January – March 2026
Robit FURTHER. FASTER.
Robit FURTHER. FASTER.
ROBIT PLC STOCK EXCHANGE RELEASE 20 APRIL 2026 AT 2.00 P.M.
ROBIT PLC INTERIM REPORT 1 JANUARY–31 MARCH 2026: RECEIVED ORDERS INCREASED AND PROFITABILITY IMPROVED SIGNIFICANTLY
In the text, Q1 refers to the period from 1 January to 31 March 2026. Figures from the corresponding time period in 2025 are given in parentheses. All the figures presented are in euros. Percentages are calculated from thousands of euros.
1 January–31 March 2026 in brief
- Received orders: EUR 24.1 million (20.2); growth of 19.4%
- Net sales: EUR 21.3 million (21.5); decrease of 1.3%
- EBITDA: EUR 2.3 million (1.6); 10.7% of net sales (7.4%)
- EBIT: EUR 1.4 million (0.6); 6.5% of net sales (2.9%)
- Review period net income: EUR 0.9 million (0.5); 4.2% of net sales (2.2%)
- Net cash flow from operating activities: EUR -1.5 million (-2.2)
- Equity ratio at end of review period: 51.0% (49.6%)
| Key financials | Q1 2026 | Q1 2025 | Change % | 2025 |
|---|---|---|---|---|
| Net sales, EUR 1,000 | 21,278 | 21,549 | -1.3% | 78,762 |
| EBITDA, EUR 1,000 | 2,286 | 1,601 | 42.8% | 5,169 |
| EBITDA, % of net sales | 10.7% | 7.4% | 6.6% | |
| Comparable EBITDA, EUR 1,000 | 2,286 | 1,601 | 42.8% | 5,467 |
| Comparable EBITDA, % of net sales | 10.7% | 7.4% | 6.9% | |
| EBIT, EUR 1,000 | 1,393 | 626 | 122.5% | 1,395 |
| EBIT, % of net sales | 6.5% | 2.9% | 1.8% | |
| Comparable EBIT, EUR 1,000 | 1,393 | 626 | 122.5% | 1,693 |
| Comparable EBIT, % of net sales | 6.5% | 2.9% | 2.1% | |
| Result for the period, EUR 1,000 | 903 | 470 | 92.0% | -237 |
| Result for the period, % of net sales | 4.2% | 2.2% | -0.3% | |
| Earnings per share (EPS), EUR | 0.04 | 0.02 | 103.1% | -0.01 |
| Return on equity (ROE), % | 7.6% | 3.7% | -0.7% | |
| Return on capital employed (ROCE), % | 8.4% | 6.1% | 2.7% |
MARKET OUTLOOK FOR 2026
Robit expects the global mining industry demand to remain at a good level. Demand in the construction industry is expected to remain low in the first half of the year, but demand is expected to develop positively in the second half of the year.
Possible tariffs and the risk of a trade war are increasing uncertainty about the development of the market.
GUIDANCE FOR 2026
Robit expects 2026 net sales and comparable EBIT profitability in euros to improve from 2025.
Background to the guidance
The guidance is based on an assessment that demand in the mining industry will remain at a good level and that demand in the construction industry will develop positively in the second half of 2026. The guidance is based on the assumption that there will be no significant changes in exchange rates from the level effective at
Robit FURTHER. FASTER.
the end of 2025, and that possible tariffs will not significantly weaken the company's relative competitiveness in key markets.
CEO MIKKO KUUSILEHTO:
Sales efforts implemented in recent months had a positive impact during the review period, although market demand remained at the level of the end of 2025. There was activity in Nordic piling projects, but the drilling market remained quiet.
Received orders increased positively during the review period to EUR 24.1 million (20.2), representing growth of 19.4 per cent from the comparison period. Received orders in the Geotechnical business were EUR 7.3 million, reflecting growth of 124.8 per cent, and orders in the Down the Hole business were EUR 3.6 million, reflecting growth of 38.8 per cent. In the Top Hammer business, orders decreased 7.8 per cent from the comparison period to EUR 13.3 million.
Robit's net sales remained nearly unchanged. In the distributor market, net sales was at the previous year's level, amounting to EUR 12.1 million (12.1). However, we succeeded to increase the order intake, with received orders at EUR 14.1 million (10.6), representing growth of 32.2 per cent. In the direct sales market, net sales decreased 3.7 per cent to EUR 9.1 million (9.5) and received orders increased 5.2 per cent to EUR 10.0 million (9.6).
Examined by business area, Down the Hole net sales increased by 4.2 per cent to EUR 3.0 million (2.8), with growth of over 15 per cent achieved in several key markets, although net sales declined in the Australian market. Net sales for the Geotechnical business increased by 52.8 per cent to EUR 5.4 million (3.6), with growth generated in both EMEA and North America. Top Hammer net sales decreased by 15.0 per cent to EUR 12.9 million (15.2). Growth in Top Hammer business was seen in the Americas, while net sales declined in Australasia and EMEA.
In terms of the market areas, net sales increased in the Americas region, where all business areas grew, whereas net sales in the Australasia and EMEA regions decreased due mainly to the Top Hammer business.
In the first quarter of the year, comparable EBIT was EUR 1.4 million (0.6). EBIT was 6.5 per cent (2.9) of net sales. Our profitability improved 122.5 per cent in the review period. Profitability was supported by sales margins that remained at a good level, operating model changes implemented during 2025 that reduced fixed costs, and favorably developed exchange rates. Robit's net cash flow from operating activities in the first quarter was EUR -1.5 million (-2.2).
In the Down the Hole business, several sales projects and deliveries were carried out, which supported the development of net sales. The efficiency and productivity of the H-series hammers could be verified at several end user sites. In the Geotechnical business, growth was seen across several markets, and it was supported by the project order book of end users and the activity of data centre projects. The Top Hammer business signed an extension agreement with a major Nordic mine, which strengthens our position as a full-service supplier in the mining industry.
During the early part of the year, the market environment has been impacted by a steep increase in the price of tungsten. Tungsten is a key raw material in carbide studs used in drill bits, and the price increase has therefore been passed on to prices of end products. With regard to tariffs in North America, the situation stabilised during the review period, but we are continuing to monitor the uncertainty surrounding the business landscape.
It was positive that the investments made in sales produced effects already in the review period, as the development of net sales improved compared to previous quarters, although net sales remained approximately at the same level compared to the comparison period. Received orders and the order book increased in the review period.
During the first quarter of the year, we focused on increasing sales activity, supporting distributors at the customer interface and developing the business culture to improve efficiency. As outlined in our strategy, we grow through our distributors, and the significance of this work, too, will be emphasized in our daily work now and in future.
Robit Plc – Interim Report 1 January–31 March 2026
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NET SALES
Net sales by product area
| EUR thousand | Q1 2026 | Q1 2025 | Change % | 2025 |
|---|---|---|---|---|
| Top Hammer | 12,895 | 15,163 | -15.0% | 51,504 |
| Down the Hole | 2,954 | 2,834 | 4.2% | 11,195 |
| Geotechnical | 5,429 | 3,552 | 52.8% | 16,062 |
| Total | 21,278 | 21,549 | -1.3% | 78,762 |
The Group's net sales in the review period were EUR 21.3 million (21.5), down 1.3 per cent from the comparison period. In constant currencies, there was an increase of 2.1 per cent.
The Top Hammer business decreased 15.0 per cent, with net sales at EUR 12.9 million (15.2). Net sales increased in the Americas region and in Southern Africa, while decreasing in the other regions.
The Down the Hole business increased 4.2 per cent, with net sales at EUR 3.0 million (2.8). In the Down the Hole business, several sales projects and deliveries were carried out, which supported the development of net sales. The Down the Hole business increased in the EMEA, Americas and Asia regions.
The Geotechnical business increased 52.8 per cent, with net sales at EUR 5.4 million (3.6). In the Geotechnical business, growth was seen across several markets, and it was supported by the order book of end users and the activity of data centre projects.
Net sales by market area
| EUR thousand | Q1 2026 | Q1 2025 | Change % | 2025 |
|---|---|---|---|---|
| EMEA | 11,606 | 12,006 | -3.3% | 43,837 |
| Americas | 5,626 | 4,297 | 30.9% | 18,141 |
| Asia | 2,051 | 2,560 | -19.9% | 8,290 |
| Australasia | 1,995 | 2,686 | -25.7% | 8,494 |
| Total | 21,278 | 21,549 | -1.3% | 78,762 |
PROFITABILITY
Key figures
| Q1 2026 | Q1 2025 | Change % | 2025 | |
|---|---|---|---|---|
| EBITDA, EUR 1,000 | 2,286 | 1,601 | 42.8% | 5,169 |
| EBITDA, % of net sales | 10.7% | 7.4% | 6.6% | |
| Comparable EBITDA, EUR 1,000 | 2,286 | 1,601 | 42.8% | 5,467 |
| Comparable EBITDA, % of net sales | 10.7% | 7.4% | 6.9% | |
| EBIT, EUR 1,000 | 1,393 | 626 | 122.5% | 1,395 |
| EBIT, % of net sales | 6.5% | 2.9% | 1.8% | |
| Comparable EBIT, EUR 1,000 | 1,393 | 626 | 122.5% | 1,693 |
| Comparable EBIT, % of net sales | 6.5% | 2.9% | 2.1% | |
| Result for the period, EUR 1,000 | 903 | 470 | 92.0% | -237 |
| Result for the period, % of net sales | 4.2% | 2.2% | 0.3% |
Robit Plc – Interim Report 1 January–31 March 2026
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The review period EBITDA was EUR 2.3 million (1.6) The share of EBITDA in net sales was 10.7 per cent (7.4). The Group's EBIT was EUR 1.4 million (0.6). EBIT was 6.5 per cent (2.9) of the review period net sales.
Profitability in the review period increased from the comparison period. Profitability was impacted by gross margins remaining at a good level, by the policy changes carried out during 2025, which lowered fixed costs, and by positively developed exchange rates.
Finance income and expenses were EUR -0.3 million (0.0), of which interest expenses accounted for EUR -0.3 million (-0.4) and exchange rate changes accounted for EUR 0.0 million (0.4).
Review period net income was higher than in the comparison period, at EUR 0.9 million (0.5).
CASH FLOW AND INVESTMENTS
Consolidated cash flow statement
| EUR thousand | Q1 2026 | Q1 2025 | 2025 |
|---|---|---|---|
| Net cash flows from operating activities | |||
| Cash flows before changes in working capital | 2,343 | 2,230 | 5,980 |
| Cash flows from operating activities before financial items and taxes | -1,391 | -1,972 | 7,240 |
| Net cash inflow (outflow) from operating activities | -1,486 | -2,159 | 5,921 |
| Net cash inflow (outflow) from investment activities | -79 | -350 | -998 |
| Net cash inflow (outflow) from financing activities | 182 | 2,439 | -4,155 |
| Net increase (+)/decrease (-) in cash and cash equivalents | -1,383 | -70 | 768 |
| Cash and cash equivalents at beginning of financial year | 9,515 | 9,040 | 9,040 |
| Exchange gains/losses on cash and cash equivalents | 39 | -189 | -293 |
| Cash and cash equivalents at end of financial year | 8,171 | 8,781 | 9,515 |
The Group's review period cash flow before changes in working capital was EUR 2.3 million (2.2). Net cash flow from operating activities was EUR -1.5 million (-2.2). Changes in working capital had a EUR -3.7 million (-4.2) impact. An increase in accounts payable had a EUR 2.4 million positive impact on working capital. An increase in sales receivables and other receivables had a EUR 4.7 million negative impact on the change in working capital. In addition, cash flow was impacted negatively by a EUR 1.5 million increase in inventories.
Net cash flow from investment activities was EUR -0.1 million (-0.4). Gross investments in production totalled EUR 0.1 million (0.4). The share of investments in net sales was 0.4 per cent (1.7).
Net cash flow from financing activities was EUR 0.2 million (2.4). Repayments of lease liabilities reported under IFRS 16 were EUR -0.4 million (-0.4).
Depreciation, amortisation and write-downs were EUR 0.9 million (1.0).
Robit Plc – Interim Report 1 January–31 March 2026
Robit FURTHER. FASTER.
FINANCIAL POSITION
| 31 March 2026 | 31 March 2025 | 31 December 2025 | |
|---|---|---|---|
| Cash and cash equivalents, EUR thousand | 8,171 | 8,781 | 9,515 |
| Interest-bearing liabilities, EUR thousand | 24,753 | 30,530 | 24,556 |
| of which short-term interest-bearing financial liabilities | 7,548 | 9,231 | 6,697 |
| Net interest-bearing liabilities, EUR thousand | 16,582 | 21,749 | 15,041 |
| Undrawn credit facility, EUR thousand | 5,280 | 2,972 | 6,000 |
| Gearing, % | 37.6% | 48.0% | 35.0% |
| Equity ratio, % | 51.0% | 49.6% | 52.0% |
The Group had EUR 24.8 million (30.5) in interest-bearing liabilities, of which EUR 3.1 million (4.3) were IFRS 16 interest-bearing liabilities. The Group had EUR 8.2 million (8.8) in liquid assets and an undrawn credit facility of EUR 5.3 million (3.0). Interest-bearing net liabilities were EUR 16.6 million (21.7), and interest-bearing net bank liabilities without IFRS 16 liabilities were EUR 13.5 million (17.5).
The Group's equity at the end of the review period was EUR 44.1 million (45.3). The Group's equity ratio strengthened to 51.0 per cent (49.6), and gearing was 37.6 per cent (48.0).
PERSONNEL AND MANAGEMENT
The number of personnel decreased by 19 persons from the end of the comparison period, and at the end of the review period it was 207 (226). At the end of the review period, 66 per cent of the company's personnel were located outside Finland.
In addition to CEO Mikko Kuusilehto, the Group's Management Team at the end of the review period included Perttu Aho (VP Down the Hole), Jorge Leal (VP Top Hammer), Pia Mutanen (HR Director) and Ari Suokas (CFO).
LONG-TERM ECONOMIC TARGETS
Robit's long-term target is to grow faster than average market growth and achieve comparable EBIT profitability of more than 10 per cent.
| Long-term target | 2024 | 2025 | Rolling 12 months as per 31 March 2026 | |
|---|---|---|---|---|
| Comparable EBIT, % of net sales, p.a. | >10% | 2.8% | 2.1% | 3.1% |
ANNUAL GENERAL MEETING 2026
Robit Plc's Annual General Meeting was held in Tampere on 1 April 2026. The resolutions and other materials of the General Meeting are available on the company's website at https://www.robitgroup.com/investor/corporate-governance/general-meeting/.
SHARES AND TRADING VOLUME
On 31 March 2026, the total number of issued Robit shares was 21,179,900. At the end of the review period, the company held 38,357 treasury shares, which accounted for 0.2% of the company's all shares. The number of outstanding shares was therefore 21,141,543.
Robit Plc – Interim Report 1 January–31 March 2026
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On 31 March 2026, the company had a total of 4,710 shareholders (5,068). On the last trading day of the review period, the share closing price was EUR 0.94, and the market value of the company's share capital was EUR 19.9 million.
In the review period, the highest share price was EUR 1.45 and the lowest was EUR 0.93. A total of 1,778,190 shares were traded in January–March (778,613).
RISKS AND BUSINESS UNCERTAINTIES
Robit's risks and uncertainties relate to potential changes in the company's operating environment, global economic and political developments, and the impact of the geopolitical situation in the Middle East on markets and cost increases. The company's ability to manage and mitigate these risks varies.
The development of the company's net sales and profitability is affected by the development of general market demand, especially in the construction industry, as well as by possible loss of customer relationships that are significant for the company.
In addition, uncertainty factors include the exchange rate development of currencies, the functioning of information systems, risks related to logistics and the reliability of supply, IPR risks, and the price and availability of finance. Passing on increases in raw material costs fully to customer prices may pose a financial risk. Changes in the tax and customs legislation of export countries may adversely impact the company's export trade or weaken its profitability. Also, risks related to data security and cyber threats may have a detrimental effect on Robit's business. Potential changes in the business landscape may adversely impact the payment behaviour of the Group's customers and increase the risk of litigation, legal claims and disputes relating to Robit's products and other activities.
OTHER EVENTS DURING THE REVIEW PERIOD
On 13 January 2026, Robit Plc published the Board of Directors' resolution on a performance-based share reward scheme for 2026-2028 for the company's key persons.
On 18 February 2026, the company published its financial statements release for 1 January–31 December 2025.
On 18 February 2026, Robit Plc invited shareholders to attend the Annual General Meeting held on 1 April 2026.
On 6 March 2026, the company communicated that it had received a summons from Sandvik Mining and Construction Tools AB regarding an alleged infringement of Sandvik's European patent in a drill bit solution.
On 11 March 2026, Robit Plc published the Annual Report, Corporate Governance Statement and Remuneration Report for 2025.
EVENTS AFTER THE REVIEW PERIOD
Robit Plc's Annual General Meeting was held on 1 April 2026. The company communicated on the resolutions of the General Meeting in a separate stock exchange release on 1 April 2026.
On 1 April 2026, the company published the resolutions of the constituent meeting of the Board of Directors.
On 20 April 2026, Robit Plc announced that VP Down the Hole and Member of Management Team, Perttu Aho, will leave his position and pursue new opportunities outside the company by 16 August 2026.
Robit Plc – Interim Report 1 January–31 March 2026
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Robit Plc Board of Directors
Further information:
Mikko Kuusilehto, CEO +358 40 658 7822 [email protected]
Distribution: Nasdaq Helsinki Ltd Key media www.robitgroup.com
Robit manufactures and sells rock and earth drilling consumables internationally to the mining and construction markets. The company's operations are based on high quality, reliability of supply and client confidence in drilling consumables. Through innovative Top Hammer, Down the Hole (DTH) and Geotechnical products, and client-based services, Robit delivers savings in drilling costs to its clients. Robit has its own sales and service points in seven countries, and an active distributor network through which it sells to more than 100 countries. The company's manufacturing units are located in Finland, South Korea and the UK. Robit's share is listed on Nasdaq Helsinki Ltd. Further information at www.robitgroup.com.
The information presented above contains statements about future prospects, which relate to future events or the company's future financial development. In some cases, such statements can be identified by the use of conditional expressions (such as 'may,' 'expected,' 'estimated,' 'believed,' 'forecast', etc.) or other similar wording. Such statements are based on assumptions and factors known to Robit's management and on current decisions and plans. Statements relating to future prospects always involve risks and uncertainties, as they concern events and depend on circumstances that may or may not occur in the future. For this reason, future results may differ – even significantly – from the results expressed or assumed in statements about future prospects.
Robit Plc – Interim Report 1 January–31 March 2026
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CONDENSED FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
| EUR thousand | 1 January–31 March 2026 | 1 January–31 March 2025 | 1 December–31 December 2025 |
|---|---|---|---|
| Net sales | 21,278 | 21,549 | 78,762 |
| Other operating income | 577 | 242 | 2,433 |
| Materials and services* | -13,322 | -13,444 | -49,634 |
| Employee benefit expense | -3,259 | -3,539 | -13,083 |
| Depreciation and amortisation | -894 | -976 | -3,774 |
| Impairment | -56 | 42 | 12 |
| Other operating expenses* | -2,932 | -3,249 | -13,321 |
| EBIT (Operating profit/loss) | 1,393 | 626 | 1,395 |
| Finance income and expenses | |||
| Interest income and finance income | 121 | 537 | 525 |
| Interest expenses and finance expenses | -433 | -574 | -1,831 |
| Finance income and expenses, total | -312 | -36 | -1,306 |
| Review period profit/loss before taxes | 1,081 | 589 | 89 |
| Taxes | |||
| Income tax | -45 | -167 | -472 |
| Change in deferred taxes | -132 | 48 | 147 |
| Income taxes | -177 | -119 | -326 |
| Result for the period | 903 | 470 | -237 |
| Attributable to: | |||
| Parent company shareholders | 854 | 419 | -304 |
| Non-controlling interest** | 49 | 51 | 67 |
| 903 | 470 | -237 | |
| Other comprehensive income | |||
| Items that may be reclassified to profit or loss in subsequent periods: | |||
| Cash flow hedges | 97 | 5 | -165 |
| Translation differences** | 92 | -1,388 | -2,825 |
| Other comprehensive income, net of tax | 189 | -1,383 | -2,990 |
| Total comprehensive income | 1,092 | -913 | -3,227 |
| Attributable to: | |||
| Parent company shareholders | 1,062 | -978 | -3,320 |
| Non-controlling interest | 30 | 65 | 93 |
| Consolidated comprehensive income | 1,092 | -913 | -3,227 |
| Earnings per share | |||
| Basic and diluted earnings per share | 0.04 | 0.02 | -0.01 |
*In the condensed income statement, changes in inventories are presented in Materials and services, and manufacture for own use in Other operating expenses. ** Black Employees Empowerment Trust, founded by Robit SA in 2015, owns 26% of the shares of Robit SA. *** The Group has internal loans that are treated as net investments in foreign entities in accordance with IAS 21 'The Effects of Changes in Foreign Exchange Rates'.
Robit Plc – Interim Report 1 January–31 March 2026
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
| EUR thousand | 31 March 2026 | 31 March 2025 | 31 December 2025 |
|---|---|---|---|
| ASSETS | |||
| Non-current assets | |||
| Goodwill | 5,312 | 5,518 | 5,287 |
| Other intangible assets | 467 | 666 | 520 |
| Property, plant and equipment | 12,336 | 15,467 | 13,204 |
| Loan receivables | 63 | 78 | 63 |
| Derivatives | 193 | 284 | 71 |
| Deferred tax assets | 1,452 | 1,566 | 1,598 |
| Total non-current assets | 19,822 | 23,581 | 20,744 |
| Current assets | |||
| Inventories | 39,429 | 38,863 | 37,786 |
| Account and other receivables | 19,260 | 20,157 | 14,604 |
| Loan receivables | 67 | 97 | 66 |
| Current tax assets | 240 | 71 | 229 |
| Cash and cash equivalents | 8,171 | 8,781 | 9,515 |
| Total current assets | 67,167 | 67,968 | 62,200 |
| Total assets | 86,990 | 91,549 | 82,944 |
| EQUITY AND LIABILITIES | |||
| Equity | |||
| Share capital | 705 | 705 | 705 |
| Share premium | 202 | 202 | 202 |
| Reserve for invested unrestricted equity | 82,147 | 82,147 | 82,147 |
| Translation differences | -6,033 | -4,696 | -6,144 |
| Fair value reserve | 154 | 227 | 57 |
| Retained earnings | -34,330 | -34,107 | -34,057 |
| Profit/loss for the financial year | 854 | 419 | -304 |
| Equity attributable to parent company shareholders in total | 43,699 | 44,897 | 42,606 |
| Non-controlling interests* | 436 | 406 | 407 |
| Capital and reserves in total | 44,136 | 45,303 | 43,012 |
| Liabilities | |||
| Non-current liabilities | |||
| Borrowings | 16,006 | 18,363 | 16,039 |
| Lease liabilities | 1,199 | 2,937 | 1,820 |
| Deferred tax liabilities | 165 | 210 | 163 |
| Employee benefit obligations | 92 | 142 | 88 |
| Total non-current liabilities | 17,462 | 21,652 | 18,110 |
| Current liabilities | |||
| Borrowings | 5,660 | 7,900 | 5,121 |
| Lease liabilities | 1,887 | 1,331 | 1,576 |
| Advance payments received | 409 | 128 | 206 |
| Tax liabilities based on taxable income for the period | 26 | 5 | 6 |
| Account payables and other liabilities | 17,358 | 15,063 | 14,880 |
| Other provisions | 52 | 168 | 33 |
| Total current liabilities | 25,392 | 24,594 | 21,822 |
| Total liabilities | 42,854 | 46,246 | 39,932 |
| Total equity and liabilities | 86,990 | 91,549 | 82,944 |
- Black Employees Empowerment Trust, founded by Robit SA in 2015, owns 26% of the shares of Robit SA.
Robit Plc – Interim Report 1 January–31 March 2026
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CONSOLIDATED CASH FLOW STATEMENT
| EUR thousand | 1-3/2026 | 1-3/2025 | 2025 |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before tax | 1,081 | 589 | 89 |
| Adjustments: | |||
| Depreciation and amortisation | 894 | 977 | 3,775 |
| Finance income and expenses | 312 | 36 | 1,306 |
| Share-based payments to employees | 0 | 0 | 83 |
| Loss (+)/gain (-) on sale of property, plant and equipment | -7 | 0 | 28 |
| Other non-cash transactions | 64 | 628 | 698 |
| Cash flows before changes in working capital | 2,343 | 2,230 | 5,980 |
| Change in working capital | |||
| Increase (-)/decrease (+) in account and other receivables | -4,703 | -3,677 | 1,485 |
| Increase (-)/decrease (+) in inventories | -1,471 | 520 | 30 |
| Increase (+)/decrease (-) in account and other payables | 2,439 | -1,046 | -255 |
| Cash flows from operating activities before financial items and taxes | -1,391 | -1,972 | 7,240 |
| Interest and other finance expenses paid | -110 | -175 | -1,103 |
| Interest and other finance income received | 33 | 21 | 122 |
| Income taxes paid | -18 | -33 | -337 |
| Net cash inflow (outflow) from operating activities | -1,486 | -2,159 | 5,921 |
| Cash flows from investing activities | |||
| Purchases of property, plant and equipment | -91 | -356 | -961 |
| Purchases of intangible assets | -4 | -16 | -75 |
| Proceeds from the sale of property, plant and equipment | 17 | 0 | -28 |
| Proceeds from loan receivables | -1 | 22 | 66 |
| Net cash inflow (outflow) from investment activities | -79 | -350 | -998 |
| Cash flows from financing activities | |||
| Dividends paid and capital repayments | 0 | 0 | -26 |
| Drawdowns of non-current loans | 0 | 0 | 19,500 |
| Amortizations of non-current loans | -153 | -96 | -21,992 |
| Change in bank overdrafts | 720 | 2,924 | -105 |
| Payments of lease liabilities | -385 | -389 | -1,532 |
| Net cash inflow (outflow) from financial activities | 182 | 2,439 | -4,155 |
| Net increase (+)/decrease (-) in cash and cash equivalents | -1,383 | -70 | 768 |
| Cash and cash equivalents at beginning of financial year | 9,515 | 9,040 | 9,040 |
| Exchange gains/losses on cash and cash equivalents | 39 | -189 | -293 |
| Cash and cash equivalents at end of financial year | 8,171 | 8,781 | 9,515 |
Robit Plc – Interim Report 1 January–31 March 2026
Robit FURTHER. FASTER.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
A = Share capital B = Share premium C = Reserve for invested unrestricted equity D = Cumulative translation difference E = Fair value reserve F = Retained earnings G = Equity attributable to parent company shareholders H = Non-controlling interests I = Capital and reserves in total
| EUR thousand | A | B | C | D | E | F | G | H | I |
|---|---|---|---|---|---|---|---|---|---|
| Equity as at 1 January 2025 | 705 | 202 | 82,147 | -3,294 | 222 | -34,115 | 45,867 | 341 | 46,208 |
| Profit for the period | 419 | 419 | 51 | 470 | |||||
| Other comprehensive income | |||||||||
| Cash flow hedges | 5 | 5 | 5 | ||||||
| Translation differences | -1,402 | -1,402 | 14 | -1,388 | |||||
| Total comprehensive changes | -1,402 | 5 | 419 | -979 | 65 | -913 | |||
| Share-based payments to employees | 9 | 9 | 9 | ||||||
| Total transactions with owners, recognised directly in equity | 9 | 9 | 9 | ||||||
| Equity as at 31 March 2025 | 705 | 202 | 82,147 | -4,696 | 227 | -33,688 | 44,897 | 406 | 45,303 |
| EUR thousand | A | B | C | D | E | F | G | H | I |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity as at 1 January 2026 | 705 | 202 | 82,147 | -6,144 | 57 | -34,361 | 42,606 | 407 | 43,012 |
| Profit for the period | 854 | 854 | 49 | 903 | |||||
| Other comprehensive income | |||||||||
| Cash flow hedges | 97 | 97 | 97 | ||||||
| Translation differences | 111 | 111 | -19 | 92 | |||||
| Total comprehensive changes | 111 | 97 | 854 | 1,062 | 30 | 1,092 | |||
| Share-based payments to employees | 31 | 31 | 31 | ||||||
| Total transactions with owners, recognised directly in equity | 31 | 31 | 31 | ||||||
| Equity as at 31 March 2026 | 705 | 202 | 82,147 | -6,033 | 154 | -33,475 | 43,699 | 436 | 44,136 |
Robit Plc – Interim Report 1 January–31 March 2026
Robit FURTHER. FASTER.
NOTES
Contents
- Accounting principles
- Key figures and calculation
- Breakdown of net sales
- Financing arrangements
- Changes to property, plant and equipment
- Goodwill impairment testing
- Given guarantees
- Business acquisitions
- Derivatives
1. ACCOUNTING PRINCIPLES
This interim report has been prepared in accordance with the IAS 34 'Interim Financial Reporting' standard and using the same accounting principles as in the annual financial statements. The interim report is unaudited.
All figures in the condensed financial statements and in the notes are rounded, which is why the sum of individual figures may deviate from the sum presented.
2.1 KEY FIGURES
| Consolidated key figures | Q1 2026 | Q1 2025 | 2025 |
|---|---|---|---|
| Net sales, EUR 1,000 | 21,278 | 21,549 | 78,762 |
| EBIT, EUR 1000 | 1,393 | 626 | 1,395 |
| EBIT, % of net sales | 6.5% | 2.9% | 1.8% |
| Earnings per share (EPS), EUR | 0.04 | 0.02 | -0.01 |
| Return on equity (ROE), % | 7.6% | 3.7% | -0.7% |
| Return on capital employed (ROCE), % | 8.4% | 6.1% | 2.7% |
| Equity ratio, % | 51.0% | 49.6% | 52.0% |
| Gearing, % | 37.6% | 48.0% | 35.0% |
| Gross investments, EUR 1,000 | 94 | 372 | 1,036 |
| Gross investments, % of net sales | 0.4% | 1.7% | 1.3% |
| Number of shares (outstanding shares) | 21,141,543 | 21,061,541 | 21,141,543 |
| Treasury shares (held by the Group) | 38,357 | 118,359 | 38,357 |
| Percentage of votes/shares | 0.18% | 0.56% | 0.18% |
2.2 RECONCILIATION OF ALTERNATIVE PERFORMANCE MEASURES
Robit presents Alternative Performance Measures (APMs) as supplementary information for the key figures given in the consolidated profit and loss accounts, consolidated balance sheets and consolidated cash flow statements prepared in accordance with the IFRS standards. Robit considers that the APMs provide significant further information about Robit's performance, financial position and cash flows, and are often used by analysts, investors and other parties.
Robit Plc – Interim Report 1 January–31 March 2026
Robit FURTHER. FASTER.
The APMs should not be examined separately from the IFRS performance measures or as performance measures replacing the performance measures defined under the IFRS. Not all companies calculate APMs in a uniform manner, which is why Robit's APMs may not be comparable to identically worded APMs presented by other companies.
Comparable items are impacted by the following events: costs associated with listing, corporate restructuring and reorganisation.
Comparable EBITDA and EBITA
| EUR thousand | Q1 2026 | Q1 2025 | 2025 |
|---|---|---|---|
| EBIT (Operating profit) | 1,393 | 626 | 1,395 |
| Depreciation and amortisation | 894 | 976 | 3,774 |
| EBITDA | 2,286 | 1,601 | 5,169 |
| Items affecting comparability | |||
| Costs associated with reorganisation | 0 | 0 | 298 |
| Comparable EBITDA | 2,286 | 1,601 | 5,467 |
| EBIT (Operating profit) | 1,393 | 626 | 1,395 |
| Amortisation related to corporate restructuring | 36 | 37 | 145 |
| EBITA | 1,428 | 663 | 1,540 |
| EBIT (Operating profit) | 1,393 | 626 | 1,395 |
| Items affecting comparability | |||
| Costs associated with reorganisation | 0 | 0 | 298 |
| Adjusted EBIT | 1,393 | 626 | 1,693 |
Robit Plc – Interim Report 1 January–31 March 2026
Robit FURTHER. FASTER.
2.3 CALCULATION OF KEY FIGURES
EBITDA: EBIT + Depreciation, amortisation and impairment
EBITA EBIT + Amortisation related to corporate restructuring
Net working capital Inventory + Accounts receivables and other receivables – Accounts payables and other liabilities
Earnings per share (EPS), EUR Profit (loss) for the financial year Share issue-adjusted number of shares (on average during the financial year)
Return on equity (ROE),% Profit (loss) for the financial year Equity (on average during the financial year) x 100
Return on capital employed (ROCE),% Profit before appropriations and taxes + Interest expenses and other finance expenses Equity (on average during the financial year) + Interest-bearing financial liabilities (long-term and short-term loans from financial institutions, on average during the financial year) x 100
Net interest-bearing financial liabilities Long-term and short-term loans from financial institutions – Cash and cash equivalents – Short-term financial securities
Equity ratio, % Equity Balance sheet total – Advances received x 100
Gearing, % Net interest-bearing financial liabilities Equity x 100
Robit Plc – Interim Report 1 January–31 March 2026
Robit FURTHER. FASTER.
3. BREAKDOWN OF NET SALES
The IFRS 15 recognition of entries as revenue is identical within each business unit and market area.
NET SALES
Net sales by product area
| EUR thousand | 1 January–31 March 2026 | 1 January–31 March 2025 | Change % | 1 December–31 December 2025 |
|---|---|---|---|---|
| Top Hammer | 12,895 | 15,163 | -15.0% | 51,504 |
| Down the Hole | 2,954 | 2,834 | 4.2% | 11,195 |
| Geotechnical | 5,429 | 3,552 | 52.8% | 16,062 |
| Total | 21,278 | 21,549 | -1.3% | 78,762 |
Net sales by market area
| EUR thousand | 1 January–31 March 2026 | 1 January–31 March 2025 | Change % | 1 December–31 December 2025 |
|---|---|---|---|---|
| EMEA | 11,606 | 12,006 | -3.3% | 43,837 |
| Americas | 5,626 | 4,297 | 30.9% | 18,141 |
| Asia | 2,051 | 2,560 | -19.9% | 8,290 |
| Australasia | 1,995 | 2,686 | -25.7% | 8,494 |
| Total | 21,278 | 21,549 | -1.3% | 78,762 |
4. FINANCING ARRANGEMENTS
The Group's cash and cash equivalents were EUR 8.2 million on 31 March 2026. In addition, the Group has a EUR 6.0 million credit facility, of which EUR 5.3 million remained undrawn. The Group's sufficient liquidity is safeguarded through cash and cash equivalents and the undrawn credit facility.
The covenants of the parent company's loans are based on the ratio of the company's net liabilities to EBITDA and to the company's equity ratio. Covenants are tested semi-annually, and the next test will take place on 30 June 2026. On 31 March 2026, the ratio of net liabilities to EBITDA was 2.83.
BORROWINGS/LOANS/INTEREST-BEARING LOANS
| EUR thousand | 31 March 2026 | 31 March 2025 | 31 December 2025 |
|---|---|---|---|
| Non-current borrowings | |||
| Loans from credit institutions | 15,995 | 18,351 | 16,028 |
| Other loans | 12 | 12 | 12 |
| Lease liabilities | 1,199 | 2,937 | 1,820 |
| Total non-current borrowings | 17,206 | 21,299 | 17,859 |
| Current borrowings | |||
| Loans from credit institutions | 4,940 | 4,872 | 5,121 |
| Bank overdrafts | 720 | 3,028 | 0 |
| Lease liabilities | 1,888 | 1,331 | 1,577 |
| Total current borrowings | 7,548 | 9,231 | 6,697 |
| Total borrowings | 24,753 | 30,530 | 24,556 |
Robit Plc – Interim Report 1 January–31 March 2026
Robit FURTHER. FASTER.
5. CHANGES TO PROPERTY, PLANT AND EQUIPMENT
| EUR thousand | 31 March 2026 | 31 March 2025 | 31 December 2025 |
|---|---|---|---|
| Cost at the beginning of period | 40,080 | 40,811 | 40,811 |
| Additions | 149 | 1,037 | 1,853 |
| Disposals | -142 | -213 | -431 |
| Exchange differences | -393 | -810 | -2,153 |
| Cost at end of period | 39,695 | 40,826 | 40,080 |
| Accumulated depreciation and impairment at beginning of period | -26,875 | -25,054 | -25,054 |
| Depreciation | -835 | -913 | -3,525 |
| Disposals | 95 | 140 | 352 |
| Exchange differences | 256 | 469 | 1,352 |
| Accumulated depreciation and impairment at end of period | -27,359 | -25,358 | -26,875 |
| Net book amount at beginning of period | 13,204 | 15,757 | 15,757 |
| Net book amount at end of period | 12,336 | 15,468 | 13,204 |
6. GOODWILL IMPAIRMENT TESTING
The amount of goodwill is reviewed at least annually in accordance with the IFRS provisions. The values of the goodwill testing variables are also revised if there have been any material changes in business operations, the competition situation, the markets or other goodwill testing assumptions. The company has three cash flow-generating units (Top Hammer, Down the Hole, and Geotechnical). As at 31 March 2026, the company has reviewed the assumptions used in previous goodwill testing, including forecasts for the current and future years and changes in interest rates. On the basis of the review, no internal or external indications of goodwill impairment have been identified that would necessitate entirely new impairment testing. Factors affecting goodwill items will be reviewed again during the second quarter of the year.
7. GIVEN GUARANTEES
| EUR thousand | 31 March 2026 | 31 March 2025 | 31 December 2025 |
|---|---|---|---|
| Guarantees and pledges given for own liabilities | 47,870 | 45,832 | 47,974 |
| Other guarantee liabilities | 88 | 48 | 86 |
| Total | 47,958 | 45,880 | 48,061 |
8. ACQUISITIONS
No acquisitions were made during the review period.
9. DERIVATIVES
The company hedges the most significant net currency positions that can be forecast for time, volume and interest rate risk.
There were no open currency derivatives at the end of the review period.
On 27 June 2025, the company concluded a EUR 25.5 million financing agreement and, in connection with this, a EUR 10.0 million interest rate swap with an interest rate cap in order to hedge part of its exposure to variable interest rates. The company applies hedge accounting to the interest rate swap in accordance with
Robit Plc – Interim Report 1 January–31 March 2026
Robit FURTHER. FASTER.
IFRS 9. This effectively results in the interest expenses on the hedged floating-rate loan being recognised in profit or loss at a fixed interest rate.
The company's main interest rate risk arises from long-term floating-rate loans that expose the Group's cash flow to interest rate risk. The Group's policy is to use, if necessary, a floating-to-fixed interest rate swap.
Interest rate derivatives
| EUR thousand | 31 March 2026 | 31 March 2025 | 31 December 2025 |
|---|---|---|---|
| Interest rate swaps | |||
| Nominal value | 10,000 | 10,000 | 10,000 |
| Fair value | 193 | 284 | 71 |
Robit Plc – Interim Report 1 January–31 March 2026
Robit
Robit Plc • Vikkiniityntie 9, FI-33880 Lempaälä (Tampere region), Finland
Tel. +358 3 3140 3400 • [email protected] • Business ID: 0825627-0 • robitgroup.com
If you have any feedback or comments on Robit's Interim Report, please contact: [email protected]