ROBIT PLC TO INITIATE CHANGE NEGOTIATIONS AS A PART OF COST-SAVINGS PROGRAM

ROBIT PLC        PRESS RELEASE        2 OCTOBER 2023 AT 11.00 EEST

ROBIT PLC TO INITIATE CHANGE NEGOTIATIONS AS A PART OF COST-SAVINGS PROGRAM

Robit Plc initiates change negotiations in accordance with Act on Co-operation within Undertakings, regarding actions which target adjustments to company’s operations and improvement in profitability.

The change negotiations concern Robit Plc’s and Robit Finland Ltd’s personnel in Finland. The negotiations may result in changes to job descriptions, as well as termination of employment and temporary lay-offs due to production-related and financial reasons. The estimated impact is max. 10 permanent redundancies. The possible temporary layoffs are part-time.

Robit Plc has an ongoing cost-savings program. Overall, the company is targeting savings of around EUR 5 million from the 2022 level through the cost-savings program. The program was announced in Robit Plc’s Interim Report published on 28 April 2023. The coming change negotiations are a part of Robit Plc’s cost-savings program. The target of the program is to adjust the cost structure of the business in response to the prevailing market conditions on a short-term as well as ensure the company’s profitability and growth prerequisites on a long-term.

ROBIT PLC
Arto Halonen

Further information:
Arto Halonen, Group CEO
+358 40 028 0717
[email protected]

Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com

Robit is the specialist focused on high quality drilling consumables for the mining and construction markets globally to help you drill even Further. Faster. Robit strives to be the world’s number one drilling consumables company. Through our proven, high-quality Top Hammer, Down the Hole and Geotechnical products and our expert services, we deliver drilling cost savings to our customers. Robit has its own sales and service points in seven countries and an active network of distributors through which it sells to more than 100 countries. Robit’s manufacturing facilities are located in Finland, South Korea, Australia and the United Kingdom. Robit shares are listed on Nasdaq Helsinki Ltd. More information is available at www.robitgroup.com.