OPERATIONS

Robit on track for breakout year despite COVID: Lehtonen

Commodity price and investment tailwinds are lifting mining sales, said the firm

This article is 4 years old. Images might not display.

Robit CEO Tommi Lehtonen said commodity price and sector-investment tailwinds were lifting mining sales while conditions in the construction market also favoured growth.

"All markets grew except for Asia", in the first six months of 2021, with the strongest growth seen in the Americas region. Lehtonen said Robit "made good progress" in expanding sales coverage by signing six new distribution agreements in the June half.

"A few important new partnerships" were being negotiated.

Orders reportedly grew 6.9% yoy in H1 to €49.6M.

Lehtonen said record three-month sales of €25.1M in the June quarter (plus-22.2% yoy) and €26.5m of new orders (up 23.1% yoy), another record, set the company up for a milestone year.

"In the first half of the year, as expected, progress was made towards a more normal market situation, as the COVID-19 pandemic restrictions affecting the industry eased," he said.

"Now we will focus on winning customer relationships with the new distributors."

Robit notched up full-year revenue of €91.63M for FY20, when it posted a net loss of €2.9M.

The Helsinki-based, NASDAQ-listed company's share price is up more than 41% since the start of 2021, capitalising the company at circa-€112 million.

Expert-led Insights reports built on robust data, rigorous analysis and expert commentary covering mining Exploration, Future Fleets, Automation and Digitalisation, and ESG.

Expert-led Insights reports built on robust data, rigorous analysis and expert commentary covering mining Exploration, Future Fleets, Automation and Digitalisation, and ESG.

editions

Automation and Digitalisation Insights 2025

Discover how mining companies and investors are adopting, deploying and evaluating new technologies.

editions

Mining IQ Exploration Insights 2025

Gain exclusive insights into the world of exploration in a comprehensive review of the top trending technologies, intercepts, discoveries and more.

editions

Future Fleets Insights 2025

Mining IQ Future Fleets Insights 2025 looks at how companies are using alternative energy sources to cut greenhouse gas emmissions

editions

Automation and Digitalisation Insights 2024

Exclusive research for Mining IQ Automation and Digitalisation Insights 2024 shows mining companies are embracing cutting-edge tech