Robit (ROBIT) AGM 2025 presentation summary

2024 operating performance

• Orders received fell 4.4% to €88.8m; revenue declined 2.8% to €90.3m. Mining demand remained good, while construction demand did not recover as expected.

• Comparable EBIT rose to €2.5m from €0.1m, with margin improving to 2.8% from 0.1%; comparable EBITDA margin was 7.1% vs. 5.4%.

• Net profit was €1.1m vs. a €3.0m loss in 2023; full-year comparable EBITDA was €6.4m vs. €5.0m.

• Australasia revenue increased 0.7% to €14.9m and Asia rose 0.6% to €9.0m; Americas fell 8.1% to €19.1m and EMEA & East declined 2.3% to €47.2m.

• Profitability measures included restructuring the DTH supply chain and manufacturing, continued cost savings, and new, more competitive product launches.

Cash flow and capital position

• Operating cash flow was €1.5m vs. €8.4m; cash flow before working-capital changes increased to €6.3m from €4.5m, while inventory growth reduced cash flow by €4.3m.

• Net working capital ended Q4 at €41.5m vs. €38.5m; inventory was €40.2m vs. €36.1m, and working capital was 46.0% of trailing 12-month revenue.

• Net debt declined to €18.6m from €21.3m; net debt to rolling 12-month EBITDA improved to 2.9x from 3.8x, and the equity ratio was 50.7% vs. 48.5%.

• Year-end cash was €9.0m vs. €11.2m, and interest-bearing debt was €27.7m vs. €32.5m, including €4.0m of IFRS 16 debt.

• Bank loans totaled €23.6m at year-end; the financing agreement ends mid-2026 and is scheduled for renewal in H1 2025, with €1.5m repayments each June and December.

2025 priorities and outlook

• Priorities are to return to growth, strengthen supply-chain planning, improve product competitiveness, and deliver better profitability and more stable cash flow.

• Growth investment will focus on Top Hammer and Geotechnical through launches and distribution expansion; DTH sales recovery will target North America, Australia and Africa.

• 2025 guidance expects revenue and comparable EBIT in euros to increase YoY; revenue is expected to improve as the year progresses after a low start.

• Guidance assumes good mining demand, positive construction demand in H2, no significant FX changes from year-end 2024, and no material adverse impact from potential tariffs on competitiveness.

• Long-term targets are to outgrow the market and achieve a comparable EBIT margin above 10%; rolling 12-month comparable EBIT margin was 2.8% at 31 Dec 2024.