Scienza e Tecnologia
Interim report Q3 2021/22
Interim report for Q3 2021/22 (the period 1 November 2021 – 31 July 2022)
Highlights of the interim report of the Roblon Group:
As expected, the Group continued to suffer the after-effects of COVID-19 during the first three quarters of 2021/22, mainly in the form of supply shortages of raw materials, logistics challenges and general market impacts. This and rising inflation and impacts from the war in Ukraine have temporarily challenged revenue and profitability and resulted in increased inventories of critical raw materials.
As described in company announcement no. 1/2022, the Group acquired the Czech company Vamafil spol. s.r.o at 3 January 2022 as part of Roblon's growth strategy within its core business, the fibre optic cable industry. A preliminary purchase price allocation has been made, as detailed in note 5 to the interim report.
The relocation and installation of selected parts of the production facilities from Denmark to the Czech Republic are proceeding according to plan. The first stage of the relocation took place in early June 2022, the second relocation stage took place in August 2022 and the third and final relocation stage is scheduled to be completed by the end of 2022.
Guidance for full year 2021/22
The guidance is still subject to uncertainty due to the adverse after-effects of COVID-19 in all the Group's markets, most recently reflected in an adverse impact on the FOC product group in the USA.
Roblon has ceased all sales to Russia and Belarus as a result of the war in Ukraine. Historically, the Group has not had significant business activities in either Russia, Belarus or Ukraine.
Supply shortages of certain raw materials and components are expected to remain a challenge.
At the end of the third quarter of 2021/22, Management maintains the following full-year guidance for 2021/22:
Head office building put up for sale
In early 2020, the Group decided to put its property in Frederikshavn up for sale. There are currently no potential buyers of the buildings, but the sales process continues. 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.
Forward-looking statements
Please note that short-term forecasts are subject to a high degree of uncertainty in light of all markets being affected by COVID-19. The war in Ukraine raises further uncertainty regarding the supply and transport of components and raw materials etc.
The above forward-looking statements, in particular revenue and earnings projections, are inherently uncertain and subject to risk. Many factors are beyond Roblon's control and, consequently, actual results may differ significantly from the projections expressed in this interim report. Such factors include, but are not limited to, changes in market and competitive situation, changes in demand and purchasing behaviour, foreign exchange and interest rate fluctuations and general economic, political and commercial conditions.
Frederikshavn, 15 September 2022 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
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