Industrial company Roblon booked a smaller revenue in the first quarter than expected but also an improved gross margin and for that same reason a better operating result than what the stage had been set for, the company informs in its Q1 report.

The report also reveals that Roblon maintains its expectations for the entire staggered fiscal year 2022/23, thus guiding for revenue of DKK 430-470m (USD 61-67m) and earnings before interest, taxes, depreciations and amortizations (EBITDA) of DKK 40-55m.

Revenue surged less than expected

Revenue in the first quarter totaled DKK 81.3m against DKK 78.3m in the same period last year.

The gross margin took a decent leap from 46.6 percent to 52.5 percent, and EBITDA increased from DKK 1.5m to DKK 3.4m.

Roblon operates two product groups, namely FOC and Composite, of which the latter covers cable materials and machines for the fiberoptic cable industry.

Composite covers composite materials for on- and offshore industry segments.

The quarter’s order intake landed at DKK 100.1m against DKK 114.8m in 2021’s equivalent period.

Eyes improved order intake

”The DKK 14.7m net decline covered a DKK 40.3m decline in the FOC product group and a DKK 25.6m improvement in the Composite product group,” writes Roblon in the financial report, adding:

”Order intake is expected to rise for both product groups in the coming three quarters.”

The company had expected a decline in the order intake in the FOC product group, highlighting in particular that the US market in the second half-year of 2022 has been challenged by Covid-19 repercussions.

”For Roblon’s customers, this meant significant stock building as well as adverse effects of labor shortages and project delays,” the company writes.

According to Roblon, the improved order intake within Composite has primarily been a result of increasing activity levels within oil and gas offshore.