Interim report Q3 2020/21
15 Septiembre 2021 - 3:50AM
Interim report Q3 2020/21
Still challenged by the COVID-19 pandemic, Roblon lowers
earnings guidance for 2020/21
Interim report for Q3 2020/21 (the period 1 November 2020 – 31
July 2021)
The Board of Directors of Roblon A/S has today
considered and approved the interim report for Q3
2020/21
Highlights of the interim report of the Roblon
Group:
- As expected, revenue and earnings
for the first three quarters were adversely impacted by the
COVID-19 pandemic.
- The order intake amounted to DKKm
223.4 (DKKm 196.7), covering an increase in the FOC product group
but a decline in the Composite product group, primarily due to the
adverse effects of the pandemic.
- The order book at 31 July 2021 stood
at DKKm 83.0 (DKKm 28.2). The increase related to the FOC product
group – cable materials and cable machinery for the fibre optic
cable industry.
- Revenue amounted to DKKm 169.4 (DKKm
204.8). The FOC product group recorded revenue growth, whereas the
Composite product group – composite materials for onshore and
offshore industries – saw a decline compared with the year-earlier
period.
- The realised product mix and
increased costs due to the global raw materials situation resulted
in a reduced gross margin of 45.8% (54.5%).
- The Group recognised an operating
loss before amortisation, depreciation and impairment (EBITDA) of
DKKm 18.7 (a profit of DKKm 60.6 and DKKm 15.6 ex. Senvion).
- The Group recognised an operating
loss (EBIT) of DKKm 33.5 (a profit of DKKm 47.2 and DKKm 2.2 ex.
Senvion).
- The loss before tax amounted to DKKm
30.5 (a profit of DKKm 46.6 and DKKm 1.9 ex. Senvion).
- The Group recognised a loss for the
period after tax of DKKm 23.6 (a profit of DKKm 33.4).
- Roblon’s equity at 31 July 2021
stood at DKKm 214.1 (DKKm 247.2).
- Cash flow from operations for the
period was an outflow of DKKm 31.3 (an inflow of DKKm 65.3).
Guidance for full year 2020/21
In the interim financial statements for the first half of
2020/21, Management assessed that there was increased risk of time
lags in order intake due to the COVID-19 pandemic and global raw
materials shortages and logistical challenges. In the third
quarter, these risks materialised even more severely than
anticipated, and the Company expects the problems to persist in Q4
2020/21.
In the Composite product group, project sales have for some time
been hit by timing uncertainties, several projects having been
repeatedly postponed. This has meant that Roblon has not been able
to estimate when orders would take effect, despite specific
forecasts from customers. This will directly affect Management’s
guidance for Q4 2020/21 as indicated below.
In the interim financial statements for H1 2020/21, Management
lowered its full year 2020/21 revenue guidance to DKKm 240-260
(DKKm 254.6) from its earlier guidance of DKKm 260-280.
After Q1-Q3 2020/21, Management maintains its full year 2020/21
revenue guidance of DKKm 240-260.
In the interim financial statements for H1 2020/21, Management
lowered its guidance to an EBITDA loss of DKKm 6-1 (a profit of
DKKm 9.2 ex. Senvion) against a previously guided profit of DKKm
5-13, and a loss before tax of DKKm 26-21 (a loss of DKKm 8.4 ex.
Senvion) against a previously guided loss of DKKm 19-11.
Based on the realised results for Q1-Q3 2020/21 combined with
the above-mentioned expected unfavourable product mix in Q4 and the
raw materials shortages, Management now guides an EBITDA loss of
around DKKm 16 against a previously guided loss of DKKm 6-1, and a
loss before tax of around DKKm 33 against the previously guided
loss before tax of DKKm 26-21. Management expects an operating loss
(EBIT) of around DKKm 36, with expected net financial items for Q4
of around DKKm 0.
Frederikshavn, 15 September 2021
Roblon A/S
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
- Company Announcement no 5 - 2021
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