Yahoo Finance ROBIT PLC PUBLISHES CERTAIN CORRECTED INTERIM AND HALF-YEAR FINANCIAL INFORMATION FOR THE FINANCIAL YEAR 2023
ROBIT PLC STOCK EXCHANGE RELEASE 13 MARCH 2024 AT 17.00 EET
ROBIT PLC PUBLISHES CERTAIN CORRECTED INTERIM AND HALF-YEAR FINANCIAL INFORMATION FOR THE FINANCIAL YEAR 2023
Robit Plc has, in its consolidated financial statements as of December 31, 2023, adjusted the presentation of cash and other financial assets in accordance with IAS 8, as described in note 6.4.
Robit corrects the presentation of cash and other financial assets in its interim reports for the year 2023. These adjustments have no impact on the company's income statement or equity. The group has funds invested in a short-term bond fund, which the group has classified as liquid cash. However, investments within this bond fund may exceed 90 days, and the volatility indicating the fund's risk has been higher on average than what is allowed for cash reserves. Therefore, the investment in the bond fund has been reclassified from cash reserves to “other financial assets”, which are valued at fair value with impact on the income statement.
The information presented in the interim reports for the periods January 1 to March 31, 2023, January 1 to June 30, 2023, and January 1 to September 30, 2023, in the group's balance sheet and cash flow statement has been corrected, as shown in the tables below.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION | ||||||
EUR, thousand | Reported | Restated | Restated | |||
Other financial assets |
| 1 603 | 1 603 | |||
Cash and cash equivalents | 7 353 | -1 603 | 5 751 | |||
Total | 7 353 |
| 7 353 | |||
|
|
|
| |||
EUR, thousand | Reported | Restated | Restated | |||
Other financial assets |
| 1 603 | 1 603 | |||
Cash and cash equivalents | 8 616 | -1 603 | 7 013 | |||
Total | 8 616 |
| 8 616 | |||
|
|
|
| |||
EUR, thousand | Reported | Restated | Restated | |||
Other financial assets |
| 1 603 | 1 603 | |||
Cash and cash equivalents | 5 461 | -1 603 | 3 858 | |||
Total | 5 461 |
| 5 461 | |||
|
|
|
| |||
CONSOLIDATED CASH FLOW STATEMENT | ||||||
EUR, thousand | Reported | Restated | Restated | |||
Cash and cash equivalents at the beginning of the financial period | 8 616 | -1 603 | 7 013 | |||
Cash and cash equivalents at the end of the financial period | 7 353 | -1 603 | 5 751 | |||
|
|
| ||||
EUR, thousand | Reported | Restated | Restated | |||
Cash and cash equivalents at the beginning of the financial period | 5 461 | -1 603 | 3 858 | |||
Cash and cash equivalents at the end of the financial period | 8 616 | -1 603 | 7 013 | |||
|
|
|
| |||
EUR, thousand | Reported | Restated | Restated | |||
Cash and cash equivalents at the beginning of the financial period | 7 688 | -1 603 | 6 085 | |||
Cash and cash equivalents at the end of the financial period | 5 461 | -1 603 | 3 858 | |||
|
|
|
| |||
KEY FIGURES |
|
|
| |||
| 30 Sep 2023 | 30 Jun 2023 | 31 Mar 2023 | |||
Net gearing % |
|
|
| |||
Reported | 58,9 % | 56,2 % | 63,1 % | |||
Restated | 62,4 % | 59,6 % | 66,4 % | |||
Lempäälä 13 March 2024
ROBIT PLC
Board of Directors
Further information:
Arto Halonen, Group CEO
+358 40 028 0717
arto.halonen@robitgroup.com
Ville Peltonen, Group CFO
+358 40 759 9142
ville.peltonen@robitgroup.com
Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com
Robit is a strongly international growth company servicing global customers and selling drilling consumables for applications in mining, construction, geotechnical engineering and well drilling. The company’s offering is divided into three product and service ranges: Top Hammer, Down the Hole and Geotechnical. Robit has sales and service points in seven countries as well as an active sales network in more than 100 countries. Robit’s manufacturing units are located in Finland, South Korea and the UK. Robit’s share is listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.
