Roblon downgrades profit guidance for 2020/21
Interim report – H1 2020/21 (the period 1 November 2020 – 30 April 2021)
The Board of Directors of Roblon A/S has today considered and approved the Group’s interim report for H1 2020/21.
Highlights of the interim report of the Roblon Group:
Guidance for full year 2020/21
Management assesses that the second half of 2020/21 will continue to be adversely affected by the COVID-19 situation. The current situation of global raw materials shortages and logistical challenges caused by the pandemic also poses increased risk. Either of these issues may have an adverse effect on revenue and earnings in the second half of 2020/21.
This primarily concerns the Composite product group, which has been hit by a prolonged and persistent reduced project order intake and a resulting drop in revenue and earnings. As most of these projects have been postponed, the Company expects them to materialise at a future date.
In the second half, Management expects to see increases in order intake and revenue for both Composite and FOC, although there is an increased risk of time lags in order intake due to COVID-19 and the global raw materials shortages and logistical challenges.
The FOC product group is expected to see continued growth and rising profit margins as a result of the investment and efficiency enhancement programme that has been ongoing since 2020.
On the basis of the financial performance for H1 2020/21 and the above-mentioned uncertainties, Management now expects revenue in the range of DKKm 240-260 (DKKm 254.6) against the earlier guidance of DKKm 260-280, an operating profit before depreciation, amortisation and impairment (EBITDA) in the range of DKKm 1-6 (DKKm 9.2 ex. Senvion ) against the earlier guidance of DKKm 5-13 and a loss before tax in the range of DKKm 26-21 (a loss of DKKm 8.4 ex. Senvion ) against the earlier guidance of a loss in the range of DKKm 19-11.
Head office building put up for sale
In 2018/19, Roblon decided to initiate a prospective sale of the Group’s head office in Frederikshavn. After the sale, the Group’s Danish activities will all be located at Roblon’s facilities in Gærum, which currently house production and various administrative functions. As well as generating positive synergies in the day-to-day operations, this initiative is also expected to have a positive impact on Roblon’s results and equity going forward. There are still relevant prospective buyers showing an interest in the property.
Frederikshavn, 24 June 2021
Jørgen Kjær Jacobsen Lars Østergaard
Chairman of the Board Managing Director and CEO
Enquiries regarding this announcement should be addressed to:
Managing Director and CEO Lars Østergaard, tel. +45 9620 3300