Q2 2023 Robit Oyj Earnings Call Transcript
Good afternoon and welcome to Robit's second quarter and half year report analyst and press conference. My name is Arto Halonen. I'm the CEO of the company, and I'm here with Ville Peltonen, our CFO. First, please note the disclaimer under forward looking statements.
In the second quarter of the year, we saw sequential improvement to the first quarter of the year but we fell behind our targets. Orders received declined by 14.2%, reaching EUR22.8 million. Net sales improved from quarter one by 11.4% but decreased by 21.4% to a very strong comparison quarter. The decline in constant currency was 17.6%.
During the quarter, we saw weaker demand in the construction segment, especially in Asia and Europe markets. In the mining segment, the market demand remained stable, but we were not able to compensate the loss of sales from the Russian market.
Our comparable EBITDA reads 6% of net sales and was 1.5%. Also [the] comparison quarter was very strong from last year. We are progressing with our cost savings program where we are targeting EUR5 million cost
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