Company Announcement No. 15 – 2022
December 7, 2022
Preliminary 2021/22 results and outlook for 2022/23
The Group’s preliminary and as-yet-unaudited annual report for financial year 2021/22 shows revenue of DKKm 380.9, operating profit before amortization, depreciation and impairment, and special items (EBITDA) of DKKm 23.4 (DKKm 12.6). loss) and operating profit. Loss before special items (EBIT) of DKKm 3.8m (loss of DKKm 32.9) and expense of exceptional items related to restructuring charges related to business acquisitions of DKKm 6.8 (DKKm 0).
The preliminary financial results for fiscal year 2021/22 are within management’s annual guidance as provided in Company Announcement No. 2. On 14 September 2022, it is as follows:
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Earnings in the range of DKKm 360-390.
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Operating profit before depreciation, amortization, impairment and before special items (EBITDA) is in the range of DKK 17-27.
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Operating income before exceptional items (EBIT) ranging from a loss of DKKm 10 to a gain of DKKm 0.
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A special item for restructuring costs equivalent to a cost of approximately DKKm 8.
The 2021/22 Annual Report will be released as scheduled on December 20, 2022.
Guidance for 2022/23
Management expects increased Group earnings and a record profit for the 2022/23 financial year. The following key factors are expected to apply:
In the US market, Roblon is well positioned from its central location as one of the few local suppliers of cable components. The group has previously implemented a large investment program and has launched additional initiatives that are expected to be completed in spring 2023. This is expected to increase total U.S. manufacturing capacity by more than 50% of his, further improving the profitability of production. .
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Management expects significant improvements in the combined product group compared to reported 2021/22 levels, particularly in shipments to the offshore oil and gas industry. This outlook is underpinned by an increase in order intake and higher levels of business activity at the start of fiscal year 2022/23.
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The Group expects to achieve improved profitability in connection with the continued transfer and installation of selected parts of its FOC production facility from Denmark in its recently acquired subsidiary Vamafil in the Czech Republic.
Revenue and earnings guidance for 2022/23:
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Earnings in the range of DKKm 430 – 470 (unaudited: DKKm 380.9).
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The operating profit before depreciation, amortization and impairment and before special items (EBITDA) is in the range of DKK 40-55 (unaudited: DKK 23.4).
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Operating profit before exceptional items (EBIT) in the range of DKKm 10 – 25 (unaudited: DKKm -3.8).
Management expects earnings in the first quarter of 2022/23 to be difficult due to a revenue shortfall in the FOC product group. He expects positive earnings performance in his next three quarters of the fiscal year based on his expectation that growth in the FOC product group will accumulate in the coming quarters.
Head office building for sale
In early 2020, the Group decided to sell its headquarters in Frederiksshavn. There are currently no specific buyers for this property, although private viewings are held from time to time for prospective buyers and the sales process continues. After the sale, the group’s Danish activities will focus on his Roblon facility in Gærum, which now houses production and various administrative functions. The initiative is expected to not only create positive synergies in day-to-day operations, but also have a positive impact on Robron’s performance, liquidity and equity going forward.
Forward-Looking Statements
Due to the war in Ukraine, the guidance provided is subject to uncertainties regarding the supply and transportation of components and raw materials, energy supply and energy costs. It should also be noted that guidance is subject to a high degree of uncertainty in the short term.
The forward-looking statements set forth above, particularly the projections of earnings and earnings, are inherently uncertain and subject to risk. Many factors are beyond Roblon’s control as a result of which actual results could differ materially from the projections expressed in this interim report. Such factors include, but are not limited to, changes in market and competitive conditions, changes in demand and purchasing behavior, foreign exchange and interest rate fluctuations, and general economic, political and commercial conditions. .
Frederiksshavn, December 7, 2022
Robron A/S
Jorgen Kjær Jacobsen Lars Ostergaard
Chairman of the Board Managing Director and CEO
Inquiries regarding this announcement:
Managing Director and CEO Lars Østergaard, tel. +45 9620 3300
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