Robot doubles its net profit in 2019
May 15, 2020 | Robot
The Balearic technology company Robot, S.A. has achieved a net profit of 732,969 euros in 2019, which represents an increase of 99.6% compared to 2018.
EBITDA increased 770 basis points to reach 75.0% more than in 2018, especially due to the optimization of the prices of products sold abroad thanks to the two new ROBOTBAS offices open in the Dominican Republic and Cancun.
The Coronavirus crisis contingency plan carried out by the company before establishing the state of alarm, has allowed the company to maintain the operational continuity of its factory while maintaining service to its customers, always guaranteeing the safety of our collaborators. In addition, the company's support for society must be highlighted with the donation of 10,000 FFP2 masks to the Balearic Creu Roja.
In the face of all the uncertainty situation Robot, S.A. has signed 3 lines of financing with two financial institutions for an amount of € 900,000 over 5 years, guaranteed by the ICO, which added to the treasury and other liquid assets represent a joint liquidity of € 1.5M, ensuring, in a favorable scenario, the normal evolution of the company during this year.
The situation prior to the COVID19 crisis pointed to a significant growth in sales during the 2020 financial year. Although the continuity of the projects is considered, a displacement in time is anticipated, which would have an impact on revenue 2020 that would have to be recovered from the 2021 exercise.
Access here to all 2019 financial results documents.