Annual report
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ROBIT 2025 ANNUAL REPORT
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2 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS Contents CONTENTS ………………………………………… 2 ROBIT IN BRIEF Robit in Brief ……………………………………… 4 Offices & Manufacturing Units …………………… 5 Important Events in 2025 ………………………… 6 Market Overview ………………………………… 8 CEO’s Review ………………………………… 10 COMPANY Product Offering ……………………………… 14 Strategy ……………………………………… 16 BUSINESS Top Hammer Business ………………………… 20 Down the Hole Business ……………………… 22 Geotechnical Business ………………………… 24 SUSTAINABILITY Your Partner for a More Sustainable Tomorrow 28 INVESTORS Board of Directors ……………………………… 32 Management Team …………………………… 34 Information for Shareholders ………………… 35 THE REPORT OF THE BOARD OF DIRECTORS The Report of the Board of Directors ……………… 38 FINANCIAL STATEMENTS Consolidated Financial Statements ……………………52 Consolidated Statement of Comprehensive Income … 54 Consolidated Balance Sheet …………………………55 Consolidated Statement of Changes In Equity ………56 Consolidated Statement of Cash Flows …………… 57 1. About the Consolidated Financial Statements 58 2. Robit’s Performance ………………………… 59 3. Goodwill and Other Intangible Assets ……… 66 4. Capital Structure and Financing ………………71 5. Operating Assets and Liabilities ………………85 6. Other Notes ………………………………… 92 Robit Plc Parent Company Statements …………… 100 Notes to the Financial Statements ……………… 104 Definitions of Key Financial Figures ……………… 120
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3 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 YEAR 2025 Robit celebrated its 40-year anniversary in early June together with its distributors, end customers, and other stakeholders at a spectacular gala dinner held at Tuulensuu Palace in Tampere, Finland. The “James Bond”–themed evening featured video highlights from Robit’s history, as well as theme-appropriate music and a wide range of performances.
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4 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Robit in Brief Robit manufactures and supplies rock and ground drilling consumables globally to the mining and construction markets. The company’s operations are founded on high quality, reliable supply and customer trust in drilling consumables. Through innovative Top Hammer, Down the Hole and Geotechnical products, and customer-focused services, Robit delivers savings in drilling costs to its customers. Robit has its own sales and service points in seven countries and an active distributor network through which it sells to more than 100 countries. The company’s manufacturing units are located in Finland, South Korea and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Key Figures 2025 TOP HAMMER MEUR 51.5 DOWN THE HOLE MEUR 11.2 GEOTECHNICAL MEUR 16.1 Top Hammer Business The Top Hammer drilling method is primarily used in mining, earthworks, underground quarrying and the quarrying of rock material. Top Hammer business unit comprises rock drilling consumables and services. Down the Hole Business Down the Hole drilling is used in earthworks, well drilling, i.e. the drilling of holes for geothermal and water wells, as well as in mining production drilling. Down the Hole business comprises Down the Hole consumables and services used in the segments listed above. Geotechnical Business Geotechnical products utilise Down the Hole drilling for the needs of foundation construction and well drilling. The most common applications are drilling steel piles for the construction industry and infrastructure construction projects, as well as the installation of anchors. Net sales distribution 2025 BUSINESS AREAS 7 3 COUNTRIES COUNTRIES ROBIT SALES AND SERVICE POINTS IN PRODUCTION UNITS IN 100 COUNTRIES PRESENT IN MORE THAN 207 PERSONNELNET SALES 78.8 MEUR COMPARABLE EBIT 1.7 MEUR
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5 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Offices & Production Units • Four sales areas: Americas, EMEA, Asia and Australasia • Own sales and service points in 7 countries • Active distributor network through which the company sells to more than 100 countries • 3 production units in Finland, South Korea and the UK Hwaseong, South Korea, 2018 TH Sherman, USA (sales) Lima, Peru (sales) Johannesburg, South Africa (sales) Lempäälä, Finland (sales, manufacturing) Suutarila, Finland (sales) Lempäälä, Finland, 1985Chesterfield, UK, 2016 Chesterfield, UK (sales, manufacturing) Hwaseong, South Korea (sales, manufacturing) Kalgoorlie, Australia (sales) Perth, Australia (sales) DTH GEO TH DTH GEO
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6 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Important Events in 2025 New Robit® Mbit drill bit series Robit expanded its Top Hammer offering with the introduction of the Robit® Mbit – Male Bit series, unique in the market and a major leap in drilling efficiency and durability. The Male Bit eliminates dynamic thread stress, extends lifetime by up to 25%, and delivers up to 15% faster penetration with superior hole straightness compared to conventional bits when paired with the reversible guide tube. With one universal male thread for all bit sizes, easier coupling, reduced fuel use, and lower CO₂ emissions, the Mbit sets a new benchmark for performance across Drill & Blast operations. Bauma 2025 Robit showcased its latest drilling innovations and product portfolio at the Bauma exhibition held in Munich, Germany. Bauma is the world’s leading international exhibition for the construction and mining machinery industries. Ari Suokas appointed Group CFO Robit strengthened its management by appointing Ari Suokas as Group CFO, effective April 14, 2025. Suokas brought extensive international financial management experience from Bronto Skylift, Elematic, UPM, Deloitte and PwC, strengthening Robit’s strategic and financial development. Robit 40 years In June, Robit celebrated its 40th anniversary with a large stakeholder event in Tampere, Finland. The event brought together distributors, end customers, and other stakeholders for three days of networking, innovations, and celebration. The event culminated in a 40th anniversary gala at Tuulensuu Palace. New Robit 18” H-series DTH hammer Robit expanded its drilling product portfolio with the launch of the new H Series 18” Down the Hole hammer. The new H18 hammer introduced a modular, high-performance design offering up to 25% more power and 25% lower air consumption, with both foot valved and foot valveless options for demanding piling and large water well operations. Replacing the long-established Hyper 181 series, the H18 sets a new industry benchmark. Undergroud Operators Conference Robit introduced its Rbit™ series, including the new smaller-diameter 43–51mm Extreme Carbide Bits, at the Underground Operators Conference 2025 in Australia. The bits offer up to 30% longer lifetime, higher penetration rates, and reduced grinding intervals. The event’s themes focused on innovations in underground mining, safety, and operational efficiency. January February March April May June
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7 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Perumin 37 Robit participated in PERUMIN 37 exhibition in Arequipa, Peru, showcasing a comprehensive range of Top Hammer and Down the Hole products for mining applications. Robit’s innovations emphasized productivity, reliability, and lower drilling costs. Robit H Marathon DTH hammer series Robit introduced the H Marathon Series, a high-performance addition to its H Series hammers, designed to extend wear life and reduce operating costs in Down the Hole drilling. Using advanced materials and coatings on key components, the Marathon hammers delivered 15–67% longer durability in field tests, including phosphate mining in South Africa and hard granite drilling in Finland. With more consistent wear patterns, reduced downtime, and proven performance, the H Marathon Series reinforces Robit’s commitment and capability to innovation and practical durability in demanding drilling applications. New sales area heads Robit strengthened its global sales organization by appointing new regional leaders across North America, Australasia, and South Africa by the end of the year. These appointments support the company’s strategic goal to drive growth and reinforce its market position across key regions. Picture from left: Williams, Chaithram and Kukard Mikko Kuusilehto appointed Group CEO Mikko Kuusilehto was appointed as Robit’s new Group CEO, effective August 6, 2025, bringing strong leadership experience from roles in Kuusakoski Oy and Peikko Group. His appointment leads to the start of a new phase of growth for the company, with a focus on strengthening collaboration with personnel, distributors, and customers. At the same time Robit continues to build on the company’s profitability and competitiveness. New Robit RG45 and RG51 drill rods Robit expanded its RG (heavy duty and shoulder-driven) drill rod series with the addition of the RG45, completing the range alongside RG51 and RG60 for more modern and powerful drifters. Featuring a shoulder connection design, the RG rods offer up to 50% longer thread life, improved hole straightness by up to 20%, faster penetration rates, and easier uncoupling for reduced downtime. Fully compatible with standard T/C (trapez type) threads, the RG series delivers cost-effective, efficient, and reliable drilling performance. The Mining Show 2025 Robit, together with DeltaCorp Global FZE, showcased its latest drilling innovations at The Mining Show 2025 in Dubai, UAE. The team highlighted the H Series Down the Hole hammers for power and efficiency as well as Robit® Mbit technology for superior drilling performance, equipped with Extreme Carbide for durability in tough conditions. The RG drill rod family was also presented, designed to improve straightness and extend lifetime. July August September October November December
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8 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Market Overview EMEA Net sales in the EMEA region amounted to EUR 43.8 million, which was 7.1% less than in the year previous (47.2). The downturn in the Nordic geotechnical and Central European construction businesses continued throughout the year, weakening demand especially in the project-driven Geotechnical business. Market performance in Central Europe and the Middle East was steadier, but not enough to offset the decline in the region. Developments in African markets were mixed: the net sales in Southern Africa declined due to the market situation, but Robit managed to improve its position in the Down the Hole business. AMERICAS Net sales in the Americas region amounted to EUR 18.1 million, down 5.3% compared to the same period in 2024 (19.1). The decline came mainly from the North American market, where demand was clearly weaker than expected and new customer acquisition was slower than normal. In South America, net sales remained close to the previous year’s level and no major changes were seen in the region. In North America, several major Geotechnical system deliveries were completed, including the largest commissioning of a system in Robit’s history in Western Canada. In addition, the logistics and warehousing agreement in Mexico will improve the availability and service capability of both the Top Hammer and Down the Hole product lines in the local market by reducing delivery times. Drilling consumables manufactured and supplied by Robit are used for the needs of the mining, quarrying and forepoling, underground construction and well drilling industries. Market demand remained at a good level in the mining sector during 2025, but there was no significant change in demand in the construction sector. Demand in the construction industry was weak throughout the year. Demand for exploration drilling also weakened. Sales were lower than expected due to the challenging market situation. Robit’s present market share, competitive products, extensive geographical coverage and the steady demand typical of consumables ensure good opportunities for Robit to grow by gaining new customers. This means concentrating resources on selected target markets. In addition, the company expects the overall market for drilling consumables to grow beyond economic cycles by approximately 3–5% per year. 43.8 NET SALES 2025 47.2 NET SALES 2024 M€ 18.1 NET SALES 2025 19.1 NET SALES 2024 M€
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9 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 ASIA Net sales in the Asia region amounted to EUR 8.3 million, which was a decrease of 7.9% compared to the same period in 2024 (9.0). No growth was seen in the construction market and activity remained sluggish. More stable demand in the mining segment supported Top Hammer sales in certain markets and offset low construction market volumes. The company continued its active cooperation with distributors to strengthen customer coverage. AUSTRALASIA Net sales in the Australasia region amounted to EUR 8.5 million, which was 43.1% less than in the year previous (14.9). The significant decrease in net sales was due to the after-effects of a significant Down the Hole supply contract that ended during 2024, which were visible in the first half of the comparison period. Production drilling in the mining industry remained stable and new Top Hammer contracts were gained in the region, but demand for prospection drilling remained weak. However, several new potential sales opportunities were identified in the region, particularly in underground mines, which are a strategic priority for Robit. 56% 23% 11% 11% AMERICAS ASIA EMEAAUSTRALASIA 8.3 NET SALES 2025 9.0 NET SALES 2024 M€ 8.5 NET SALES 2025 14.9 NET SALES 2024 M€ NET SALES SHARE 2025
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I started my work as the Group CEO of Robit in August 2025. During the first few months, I invested a significant amount of time in gaining a comprehensive understanding of the company’s business and operating environment. I toured all Robit’s units and met extensively with personnel in different functions to familiarise myself thoroughly with the organisation’s operations, management practices and organisational culture. At the same time, I met with a large number of customers and distributors in different markets, which provided valuable direct insight into Robit’s position in the market and how the company is perceived by customers. Through these encounters, a clear picture of the company’s strengths and areas for development emerged. During autumn 2025, a key focus area was to streamline commercial operations and strengthen customer focus, so that the company can operate more consistently, coherently and closer to the customer in all markets. 2025 was a year of change and reorientation for Robit. The market situation remained divided: the mining industry remained stable, while the prolonged downturn in the European construction market weakened demand and created a challenging operating environment. Net sales performance was weaker than expected, requiring organisational restructuring, staff reductions and more efficient operating models to ensure long-term profitability and competitiveness. At the same time, the diminished market demand was reflected in a decline in order intake of approximately 10.4% and a decrease in full-year net sales of EUR 11.5 million compared to the previous year. Development of sales and customer work was a key point for the year. We clarified our commercial focus and strengthened our regional sales management, allowing us to target resources more effectively on the markets and customer segments where we have the best growth potential. At the same time, we sharpened the role of the sales organisation and improved the management of the order-supply chain. Safety and production quality remained priorities throughout the year, and we succeeded in reducing material wastage and improving process efficiency. CEO’s Review Mikko Kuusilehto visited Robit’s units, customers, and worksites around the world to gain first-hand insight into the company’s operations and markets – here pictured at a mine in Brazil.
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11 CEO’s Review The negative impact of exchange rates weighed on the result, especially in the first half of the year, but the effects were offset by cost structure optimisation and production efficiency measu - res. Net cash flow generated from business operations during the year was approximately EUR 5.9 million, and working capi - tal management was improved by reducing inventory levels and improving accounts receivables management. In 2026, we will focus unequivocally on driving sales growth.” Mikko Kuusilehto met with future partners at the Distributor Days 2025 event held in Tampere, Finland in June. Mikko Kuusilehto Group CEO In summer 2025, Robit celebrated its 40th anniversary with a major stakeholder event that brought together distributors, end- users and partners from around the world. The event provided a valuable opportunity to strengthen customer relationships and partner networks and laid the groundwork for future collabora - tion in the coming years and beyond. In 2026, our focus will be unequivocally on increasing sales. The changes to the sales interface and the clarification of roles and responsibilities in 2025 will create the basis for a clear division of responsibilities in sales and the sales process. At the same time, 2026 will see an emphasis on clearer decision making and consis- tent and disciplined enforcement to support improved commer- cial performance in all market areas. Robit’s strength is based on high-quality and competitive pro- ducts, skilled staff, a strong customer base and our ability to ope- rate flexibly in a rapidly changing market. I would like to thank all Robit employees and our partners for their work and cooperation over the past year. Together, we are building the growth of 2026 – with determination and a renewed focus.
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COMPANY
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COMPANY
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14 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Product Offering MINING Global segment size estimate: 1,000–1,200 MEUR. Mining industry development has been positive. Production volumes continue to increase and mines continue to make productivity improvements thus investing in modern technology and innovations. Robit offering: • Full range of Top Hammer drill strings for underground drilling, bolting and long hole drilling • DTH-hammers, bits, tubes, and rotary heads for surface mining SURFACE DRILLING AND FOUNDATION Global segment size estimate: 500–700 MEUR. In foundation works, the drill piling method is gaining market share globally. Infrastructure projects are becoming larger and players becoming bigger as global contractors are increasing their influence on the global market. More and more underground spaces are used for expanding infrastructure, which increases the need for drill and blast consumables. Robit offering: • Widest range in piling products with large DTH hammers and locked casing systems • Full scope of Top Hammer bench and underground drilling tools
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15 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 WELL DRILLING (geothermal and water wells) Global segment size estimate: 200–300 MEUR. Global environmental changes and technological advances drives promising growth. Focus increasingly shifting from traditional Nordic markets to warmer areas (geothermal cooling) and water wells. Robit offering: • DTH-hammers, DTH bits and locked casing systems for tough ground conditions. UNDERGROUND CONSTRUCTION Global segment size estimate: 200–300 MEUR. Further urbanization and infrastructure development especially in the emerging markets will continue to drive the need for new tunnels and underground construction. Robit offering: • Full range of Top Hammer drill strings for face drilling and forepoling as well as for bolting and roof support. The predictions and opinions concerning segment size and future growth shown above in this report are the views of Robit’s management based on current assumptions. The figures represent avarages over the cycles, and the market follows global trend directions. While these assumptions on future events are believed to be founded on thorough analysis and the best available information, they should be considered as uncertain forecasts that cannot be guaranteed to occur as predicted. In consequence, actual growth trajectories may vary considerably from what has been predicted due to unforeseen events in the economic, market related, competitive, legal and international trade environment.
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16 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Strategy – Your Trusted Partner for Rock and Ground Drilling Products At Robit, we help our customers to drill more cost-effectively. We engineer, manufacture and sell high performance consumables worldwide for the mining, construction, geotechnical and well drilling markets. Cost-effective drilling means faster drilling, more energy- efficient drilling and a longer product lifetime, resulting in lower total drilling costs. Combined with expert customer support, this drives sustainability and reinforces our brand promise: to be our customers’ trusted partner in achieving the lowest total drilling costs. A) Key factors for strategy execution To successfully implement our strategy, the following core competences are essential: 1. Market understanding. We understand our customers’ processes and competitive environments. 2. Drilling expertise. Robit’s drillmaster service is a major contributor to sales. Our experts working at the customer interface oversee product testing and provide solutions tailored to customer needs. 3. Distributor management and sales skills. Our trained personnel work closely with distributors, fostering strong partnerships while driving business success through collaboration. 4. Supply chain efficiency. A smooth and reliable order- to-delivery process is crucial for customer satisfaction and financial performance. Efficient supply chain management improves cash flow. 5. Leadership and performance management . Robit’s management inspires and engages teams by leading by example. Management ensures that objectives are achieved through decisive action, with respect for all employees. B) Vision: Y our trusted partner for rock and ground drilling products Our vision is to be your trusted partner for rock and ground drilling products: 1. Committed experts. Our growth is based on motivated and competent personnel. We stand out from the competition thanks to our experts who have both a passion for drilling and the know-how to produce high-quality products. 2. Market and customer understanding. Close interaction with customers, combined with in-depth market knowledge, ensures that we target the selected market segments and applications. We meet the specific needs of our customers. 3. High-quality products. To achieve our customer promise of the lowest total drilling costs, we engineer and supply high-quality consumables. Innovation is at the forefront, and we launch new products and work on an accelerated time- to-market. We guarantee customer savings with the Robit® Save and Robit® QuickSave concepts. 4. Accelerate growth through distributors . Expanding our distributor network globally and growing together with our existing distributors will play a key role in increasing our market share and improving the efficiency of our sales operations. 5. Targeted growth investments . We are focusing our growth investments and resources on high-potential markets where our market share is currently low. Our aim is to grow significantly and become a leading player in this market. C) Values Robit’s values shape our corporate culture and guide our decision- making: 1. We serve with speed. Fast and responsive service is the hallmark of our business. 2. We drive change. We embrace innovation and change to enable continuous development. 3. We respect everyone. Respect for all stakeholders is the foundation of our work. D) Financial targets Robit’s long-term target is to grow faster than average market and achieve EBIT profitability of more than 10%. In addition to growth and profitability, we measure the success of our strategy through customer and employee satisfactions.
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17 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 MARKET SEGMENTS & MEGATRENDS YOUR CHOSEN PARTNER IN DRILLING TOOLS UNDERGROUND & SURFACE MINING Lower mineral content; more drilling needed per mineral tonne 2000 M€ – Global Drilling Consumables Market (excl. China & India) GEOTECHNICAL More overburden and supporting construction needed for infrastructure buildings CONSTRUCTION Urbanization, underground construction & infrastructure investments grow WELL DRILLING Geoenergy is increasing We know the market We engineer and supply and customer needs high performance products WE HELP OUR CUSTOMERS TO DRILL MORE COST-EFFECTIVELY WITH A TEAM OF ENGAGED DRILLING TOOLS EXPERTS through distributors investments on selected markets We accelerate growth We focus our growth
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18 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 BUSINESS
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19 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 BUSINESS
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20 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 on resource efficiency and disciplined cost management supported profitability in a challenging market environment. Throughout 2025, Robit’s new family of more robust rods, RG51 and RG45, continued to gain traction particularly in the Nordic markets. Robit® Extreme Carbides also strengthened Robit’s competitiveness in mining applications, where productivity and extended consumable life are key drivers of sustainability. These factors remain central to Robit’s delivery solutions. Looking ahead, 2026 presents new opportunities as the mining market remains robust for minerals. Robit’s key mining markets have a healthy pipeline of opportunities, and the company continues to build a strong funnel of new distributors to be appointed throughout 2026. These strategic additions will further strengthen Robit’s brand presence and expand its reach in critical regions. Top Hammer drilling is widely used in mining, tunneling, construction and quarrying. Top Hammer business includes rock drilling consumables and services, particularly in the mining sector. The mining sector, both underground and surface, was the largest source of revenue for Top Hammer business in 2025. In 2025, net sales in Top Hammer declined by 9.8% compared to 2024, totaling EUR 51.5 million. The main regions contributing to the decrease were Australasia, Peru and EMEA. In both Australia and Peru, certain contracts ended, while in EMEA there was a drop in demand in West Africa. In contrast, the Nordic markets showed positive development, supported by the successful launch of new product solutions. Market-specific challenges and changes in the customer base influenced the 2025 results. Despite lower sales volumes, gross margin remained strong due to new products, effective cost-saving initiatives and improved operational efficiency. A continued focus Jorge Leal VP , Top Hammer & Drillmaster Harri Piispanen , Robit (from left) Top Hammer Business Our experts working at the customer interface oversee product testing and provide solutions tailored to customer needs.” NET SALES 51.5 MEUR (change -5.6 MEUR)
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21 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 At Bohus Bergsprängning’s quarries in Sweden, RG45 drill rods and bits have been in daily production use since spring 2025. Bohus Bergsprängning has already noticed the difference in performance and has moved from the testing phase to regular use of the RG45 rods. RG RodsRG Rods
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22 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Robit’s Down the Hole business engineers and manufactures high-performance percussive hammers and drill bits for surface mining, quarrying, well drilling, construction and geotechnical applications. The product offering focuses on a select range of high quality, highly efficient, Down the Hole hammers and drill bits to serve all aspects of fast- paced, high volume rock drilling in customers who have little tolerance for downtime. The offering also includes reverse circulation hammers and specialized bits for rock sampling. Robit’s Down the Hole products are primarily used for drill and blast hole production in mining and aggregates operations. In addition, Robit hammers and bits support efficient water well and geothermal drilling. Reverse circulation hammers and bits serve minerals exploration in new mining ventures as well as ore grade control in existing operations. The key markets for open pit drill and blast operations are in North and South America, Southern and Western Africa, and Australasia, while well drilling also has strong demand in Europe. Robit’s Down the Hole consumables are designed and competitive in regions with very hard and abrasive rock and challenging ground conditions, where operational reliability is essential. In 2025, net sales in the Down the Hole business declined by 24.3% compared to 2024, totaling EUR 11.2 million. The top line decline resulted from the sharp decrease in the well-drilling market in Finland and the Nordics, the discounting of volume market pricing driven by the low-price competition globally, the unforeseen lack of vitality in the key market areas and the negative effects of import tariffs in the United States. The positive development in general continued to be higher in the well drilling and geothermal markets than in the mining and quarrying sectors. Robit continued to counter the declined sales by focusing on winning new mining drilling contractor accounts in Southern Africa as well as developing key distributor relations, especially in North America to re-vitalize growth. Down the Hole Business We stand out from our competitors thanks to our experts, who combine a passion for drilling with the skill to produce high-quality products.” NET SALES 11.2 MEUR (change -3.6 MEUR)
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23 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Perttu Aho VP , Down the Hole & José Luis Cisneros Sales Director, Robit SAC and Jorge Castro Orellana Mining Operations Supervisor, Sociedad Minera Cerro Verde (from left) Robit completed the launch of the new modular H Series hammer family in early 2025 and advanced the transition from the earlier D Series blasthole hammers and Halco general purpose hammers. The streamlined design reduces component variation significantly, substantially improving inventory efficiency for Robit and its distribution network. This transition is expected to further decrease Down the Hole business’ working capital in 2026. Robit continued relocating Down the Hole bit manufacturing to Finland and ramped up hammer supply at the UK factory during 2025. The renewed supply network supports shorter lead times and optimized logistics, meeting the faster sales cycles of distribution channels. The H Series has already demonstrated superior operational variability across varying drilling conditions and has been a key driver of improved Down the Hole profitability. In the second half of 2025, the range was expanded with the H Series Marathon, a premium long-life version offering 15–30% increased wear and longer lifetime at a competitive price point. The drill and blast drilling market continues to be driven by all large-scale surface mining activities as well as the aggregate production quarrying globally. These two segments are expected to develop at a steady growth rate during the next few years. In this production drilling market, the growth drivers for rock consumable selection are increasingly focusing on savings achieved in the total drilling costs based on product operating efficiency and lifetime. The well drilling market continues to grow steadily at a moderate rate as the demand for potable water continues to increase and geothermal well boreholes are expected to reach deeper holes in the near future. Both of these trends support a continuing growth in demand for more consumables in this segment. The reverse circulation market, primarily in the exploration segment, continues to fluctuate based on mineral commodities market price development, whereas the mineral ore-grade control drilling in existing surface mining operations is expected to continue at a parallel pace to the drill and blast operations. The innovations and the launching of the H Series modular Down the Hole hammer family completed in 2025 have significantly improved the company’s competitiveness. These concrete developments have created a solid foundation for Robit’s net sales growth in 2026 and the years to come. At Boliden’s Kevitsa mine in Sodankylä, Finland, the Robit H8” Marathon series Down the Hole hammer is in use, featuring a wear-resistant outer casing. The goal is to extend service life and reduce both downtime and spare part requirements.
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24 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 market. Regional sales remained broadly in line with the previous year, with no significant changes across Robit’s main markets, indicating a stable underlying customer base. Despite the lower volumes, overall profitability improved, supported by the systematic cost-saving initiatives as well as continuous engineering work and enhancements in product performance. A major milestone in 2025 was the successful launch of the new H18 hammer. The model was well received in the market for its strong performance characteristics, reliability, and modular design, all of which bring measurable added value to both distributors and end-users. In addition, Robit executed its first major project under a partial rental agreement, providing valuable practical insight for developing rental-based business models in the future. Several large-size systems were delivered to North America, further strengthening Robit’s position in the sales area. Notably, in the first half of the year, Robit’s largest system ever developed successfully drilled in demanding ground conditions in Western Canada. These accomplishments reinforce Robit’s reference base and support the Robit’s Geotechnical business engineers and manufactures high-performance solutions for demanding foundation drilling applications. The product offering consists of optimized Down the Hole hammers and casing systems that are specifically optimized to deliver reliable performance, long service life, and improved resource efficiency. These consumables enable the execution of construction and infrastructure projects even in most challenging and geologically complex conditions. Key application areas include piling, micropiling, anchoring, and well drilling, supporting a wide range of construction and infrastructure contractors across Robit’s main strategic markets. In 2025, net sales in the Geotechnical business amounted to EUR 16.1 million, representing a 12.6% decrease compared to the previous year. The decline in net sales was primarily driven by a lower number of large project wins than in 2024, as well as the continued and prolonged weakness in the Nordic housing Geotechnical Business A significant milestone in 2025 was the successful launch of the new H18 Down the Hole hammer at the Bauma trade fair in Germany.” NET SALES 16.1 MEUR (change -2.3 MEUR)
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25 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 At the end of 2025, a pile wall project was launched in Tikkurila, Finland: Destia, as part of the Vantaa Tramway alliance, is drilling approximately 400 Ø 610 mm drilled pile wall piles using Robit pilot and ring bits, and a Down the Hole hammer, extending all the way into the bedrock. At a later stage, the pile walls will be anchored at a 45° angle with rock strand anchors, installed using Robit’s retrievable pilot bits and reamers. Ville Pohja VP , Geotechnical company’s ongoing efforts to expand its presence in strategically important sales areas. Throughout the year, Robit continued its commitment to sustainable product development. Solutions designed to deliver excellent drilling performance with reduced steel usage contributed to lowering material needs and energy consumption across the entire product portfolio. This focus on resource efficiency forms an integral part of Robit’s long-term approach to responsible manufacturing and continuous improvement. Looking ahead, the outlook for 2026 remains broadly similar to that of 2025. The Nordic residential construction market is not expected to recover substantially in the short term, although the outlook for major infrastructure projects appears increasingly promising in both the Nordics and North America. Robit will continue to strengthen its position in these core markets by leveraging the strong references achieved in 2025 and by further developing solutions that meet the evolving needs of foundation drilling professionals.
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26 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025
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27 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 SUSTAINABILITY
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28 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Sustainability is part of Robit’s everyday operations. Robit’s sustainability work is guided by the company’s sustainability vision and objectives, which have been defined in extensive collaboration with representatives in different roles in the organisation. In 2025, Robit continued its active sustainability communications and made progress in the areas identified as significant. ROBIT’S SUSTAINABILITY VISION Sustainable partnerships Robit develops the sustainability and operational performance of the entire supply chain through long-term partnerships. Robit works with partners who share similar principles and goals when it comes to the environment, social responsibility and gover - nance. Robit’s suppliers play a key role in the environmental impacts caused by the company’s operations. The production and transport of raw materials require a significant amount of energy. Robit works together with suppliers to reduce material waste in production phases. Robit’s suppliers are asked to commit to Robit’s sustainable supply chain policy, and sustainability issues are reviewed in audits of subcontractors. Joint product and operational development with customers and adherence to ethical principles are particularly important to Robit. Robit also requires its distributors to be committed to these issues. Your Partner for a More Sustainable Tomorrow
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29 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 CO2 emission reduction in our value chain Robit has identified CO2 reduction as one key focus area of sustainability. There are possibilities to affect CO2 emissions by making changes in the company’s own operations. However, it is also recognised that there is potential for improvement by improving opera - tions in cooperation with the whole supply chain. Robit reports carbon emissions from its own operations. For some products, the life-cycle emissions have also been calculated. The company’s 2020 carbon footprint (Scope 1 and 2) calculated according to Greenhouse Gas Protocol (GHG Protocol) Corporate Standard was 3,383 tCO2e corresponding to 36.9 tCO2e per million euro of net sales. The emission intensity in 2025 was 44% below the 2020 level. The most important factors that have reduced the emission intensity are the concentration of production in fewer production plants and the increased use of CO2-free electricity. In addition, the company has implemented several smaller measures to support the achievement of the goal. Happy and healthy workplace Robit’s key objective is to be a responsible employer that offers its employees the opportunity to be part of a healthy, safe and collabo - rative working community. “Respect everyone” is one of Robit’s values. Personnel surveys were carried out in June and December. Employee satisfaction improved from the previous year. The results highlighted satisfaction with a positive team spirit, an organisational structure that supports open collaboration, customer focus and a strong commitment to occupational safety, occupational health and well-being of staff. Robit continually works to improve safety at work. In 2025, several safety training sessions were organised for personnel. The emergency preparedness of Robit’s factories was improved through fire safety training and clarification of emergency procedures. The company’s internal communications focused on improving safety awareness and the personnel was encouraged to participate in KPI Target Result 2025 Result 2024 Our target is to have minimum of 90% of our supplier spend coming from suppliers who have committed to Robit’s supply chain policy. 90% 99% 97% Our target is to have at least 90% of our distributors, measured by sales volume, commit to Robit’s ESG principles. 90% 84% 84% KPI Target Result 2025 Result 2024 Robit is committed in reducing its Scope 1 and 2 CO2 intensity by 50% from the 2020 baseline by 2030. - 50% - 44% - 40%
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30 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 KPI Target Result 2025 Result 2024 Our goal is zero lost-time injuries. The indicator to be followed is Lost Time Injury Frequency (LTIF). 0 8.4 7.8 We are constantly improving the involvement of our personnel. The indicator we follow is the PeoplePower® index. >70 72.3 70.3 Responsible efficiency throughout the product lifecycle The material efficiency of product design and production, as well as the aim to ensure the longevity of products in customer use, are key factors in Robit’s sustainability work. Finding the product that is best suited to the job and using it efficiently has a significant impact on the service life of the product and the energy consumed by the drilling. Material wastage in production is reduced by choices made at the product development stage. Where waste is generated, as much of it as possible is utilised. Robit’s staff and distributors are continuously trained to help customers succeed. The training sessions cover the features of the pro- ducts and provide guidance on how to use them effectively. By helping customers optimise their drilling operations, Robit is able to make a significant contribution to the efficient use of its products. Energy consumption can be reduced and drilling efficiency increased by finding the best ways to use Robit’s products and optimising use. The company’s Robit® QuickSave auditing software can be used to demonstrate to customers direct savings in drilling costs, including energy efficiency and fuel consumption reduction. Decisions made at the product design stage have a significant impact on drilling efficiency. Robit H Series hammers can achieve up to 25% improvement in fuel consumption, thus reducing emissions from drilling. KPI Target Result 2025 Result 2024 Robit is committed to providing at least 1,000 hours of consultative sales training to Robit’s and its distributors sales and technical people annually. 1000 h 901 h 1170 h Robit is committed to improving material efficiency in its internal operations. Robit has set a target of over 90% of waste recycling in its operations. 90% 92% 86% proactive safety work. In 2025, safety observations were actively carried out in all units. The number of accidents leading to absence was at a similar level to the previous year. The lost-time injury frequency was higher than in the previous year due to a change in the total number of hours worked. The total number of all reported accidents decreased.
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31 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Global HSE team develops safety practices and strengthens safety culture Safety has been given a key role in Robit’s sustainability roadmap. “Healthy from work to home” is the goal for which safety culture is being actively developed throughout the organisation. Robit has a global HSE team with representatives from all seven countries where Robit has offices. The team works together to develop work-related safety practices, and each member contributes to the safety culture by communicating on safety issues. In 2025, Robit’s HSE team has created a number of practices that promote an improved safety culture. Example 1: Policy for management participation in safety walks A target has been set for the management team to participate in at least one safety walk at one of Robit’s sites during the year. The involvement of key people has increased the visibility and importance of safety work. At the same time, management’s awareness of the security situation on the sites has increased. Example 2: Monthly newsletter on safety issues on the Robit intranet The newsletter provides information on current safety promotion activities and shares information on all accidents and major incidents. By sharing information, the organisation’s awareness of the risks in the workplace increases and the chances of avoiding the same type of incident improve. Example 3: Safety guide for customer site visits Robit wants to be close to the customer, so the work involves a lot of movement and changing working environments. In mobile work, it is necessary to be able to identify risks independently in order to avoid dangerous situations. Thus, a guide on safety issues during customer site visits has been prepared. It discusses the key risks associated with travel and site practices and provides guidance on the use of protective equipment.
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32 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Mikko Kuitunen, b. 1980 M.Sc. (Eng.) Board member since 4 December 2018 Shareholding on 31 December 2025: 47,349 shares Committees: People and Audit Committee Primary work experience: Vincit Oyj, Founder and CEO 2007–2015 and 2018–2021 Other positions of trust: Insify B.V., Board member Ellun Kanat Oy, Board member Quattro Lining Oy, Chair of the Board Plugit Finland Oy, Chair of the Board KOSM Oy, Board membr Integrata Oy, Board member Happeo Oy, Chair of the Board Amor & Labor Oy, Board member Vincit Oyj, Chair of the Board Vincit Solutions Oy, Chair of the Board Offistore Oy, Chair of the Board SoilFood Oy, Board member Pasakuitu Oy, Board member Koivukuitu Oy, Chair of the Board Tylko S.A., Board member Cloudberry Capital Oy, Board member Independence: Independent of the company and its major shareholders Harri Sjöholm, b. 1954. M.Sc. (Tech.), Industrial Councellor Board member since 4 December 2018 and between 1998 and 2018 Shareholding on 31 December 2025: 65,312 shares Committees: Shareholders’ Nomination Board, People, Audit and Working Committee Primary work experience: Oy Swot Consulting Finland Ltd, Management Consultant 2002–2006 Fast Henkilöstöpalvelut Oy, Managing Director 2000–2005 Oy Swot Consulting Harri Sjöholm Ltd, Management Consultant 1988–2002 Tamrock Oy, Sales and Marketing and Business Development 1980–1987 Other positions of trust: Five Alliance Oy, Chair of the Board Kangasalan Välkkyvä Vesijärvi ry, Board member Independence: Independent of the company. Dependent on a significant shareholder. Chair of the Board and the major shareholder in Five Alliance Oy, which holds 27.1% of the company’s shares. Helena Kauppinen, 1981 EMBA, BBA, CBM Board member since 8 April 2025 Shareholding on 31 December 2025: 12,179 shares Committees: People and Audit Committee Primary work experience: Five Alliance Oy, CEO 2022– Five Alliance Oy, Business Development 2019–2022 Metso Oyj, Manager, Order Management Development 2017–2019 Metso Oyj, System Specialist 2014–2017 Metso Oyj, Team Leader 2006–2014 Other positions of trust: Five Alliance Oy, Board member Independence: Independent of the company. Dependent on a significant shareholder. CEO, Board member and a shareholder in Five Alliance Oy, which holds 27.1% of the company’s shares. Board of Directors 31 December 2025 The Board of Directors was elected at the Annual General Meeting on 8 April 2025. According to the Articles of Association, the Board of Directors of Robit Plc must consist of at least three and no more than six members. The members of the Board of Directors are elected at the Annual General Meeting, which, according to the Articles of Association, must be held within six months of the end of the financial year. The term of office of a Board member expires at the following Annual General Meeting. The proposal for the composition of the Board of Directors and the Chair and Vice Chair of the Board of Directors is prepared by the Shareholders’ Nomination Committee. The Board of Directors met 19 times during the year under review. The attendance rate of Board members at meetings was 100.
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33 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Markku Teräsvasara, b. 1965 Civil Engineer Chair, board member from 22 March 2022 to 31 December 2025 Shareholding on 31 December 2025: 62,272 shares Committees: Working Committee Primary work experience: Metso Outotec Oyj, Deputy CEO and Head of the Minerals Business Area 2021–2024 Outotec Oyj, CEO 2016–2021 Atlas Copco, Head of the Mining and Rock Excavation Service Business Area 2014–2016 Other positions of trust: Terrafame Oy, Chair of the Board Independence: Independent of the company and its major shareholders Eeva-Liisa Virkkunen, b. 1957 M.Sc. (Econ.) Board member since 22 March 2022 Shareholding on 31 December 2025: 39,265 shares Committees: People and Audit Committee Primary work experience: Metso Oyj, CFO 2014–2020 Metso Minerals Oy, CFO 2007–2014 Metso Automation Oy, CFO 2002–2007 Rettig Group, CFO 1999–2002 Sandvik Mining and Construction, CFO 1995–1999 Other positions of trust: Neova Oy, Chair of the Board Länsirata Oy, Vice Chair of the Board Sotkamo Silver Oyj, Chair of the Board Independence: Independent of the company and its major shareholders In addition to the actual members, Jari Gadd, who has been the Board secretary since August 2015, attends Board meetings, focusing on Corporate Governance and legal affairs. Jari Gadd is the head of the Tampere office of Borenius Oy. Jari Gadd hold a Master of Laws degree. Kai Telanne, b. 1964 M.Sc. (Econ) Board member since 3 April 2024 Shareholding on 31 December 2025: 20,660 shares Committees: Working Committee Primary work experience: Alma Media Oyj, CEO 2005– Kustannus Oy Aamulehti, CEO 2001–2005 Kustannus Oy Aamulehti, Deputy CEO 2000–2001 Kustannus Oy Aamulehti, Marketing Director 1999–2000 Suomen Paikallissanomat Oy, Marketing Director 1996–1999 Other positions of trust: Sara Hilden Foundation, Chair of the Board Elinkeinoelämän Valtuuskunta EVA ry, Board member Teleste Oyj, Board member Independence: Independent of the company and its major shareholders
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34 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Management Team 31 December 2025 Mikko Kuusilehto, b. 1975 Group CEO, M.Sc. (Eng.) Member of the management team since 6 August 2025 Employed by Robit Plc since 2025 Shareholding on 31 December 2025: 20,000 shares Primary work experience: Kuusakoski Oy, CEO 2018–2025 Kuusakoski Oy, Chief Operating Officer 2016–2017 Peikko Group Oy, Chief Operating Officer 2015–2016 Peikko Group Oy, CEO, Slovakia 2013–2015 Peikko Group Oy, CEO, Finland 2008–2014 Pia Mutanen, b. 1980 Group HR Director, M.Sc. (Eng.) Member of the management team since 1 January 2025 Employed by Robit Plc since 2024 Shareholding on 31 December 2025: 5,000 shares Primary work experience: Fastems Oy Ab, VP People & Culture 2022–2024 Fastems Oy Ab, Head of People Development 2020–2022 Tampere-talo Oy, Development Manager, HR & ICT 2013–2020 Sandvik Mining & Construction Oy, HR Manager 2012–2013 Sandvik Mining & Construction Oy, HR Specialist 2006–2012 Jorge Leal, b. 1983 VP Top Hammer, M.Sc. Member of the management team since 26 January 2022 Employed by Robit Plc since 2011 Shareholding on 31 December 2025: 5,000 shares Primary work experience: Robit Plc, Director, Global Sales, Finland 2020–2021 Robit Plc, Head of Offering & Product Manager Top Hammer, Finland 2018–2019 Robit SAC, General Manager & Sales Director 2015–2018 Perttu Aho, b. 1968 VP Down the Hole, BBA Member of the management team since 17 November 2022 Employed by Robit Plc since 2020 Shareholding on 31 December 2025: 7,500 shares Primary work experience: Robit Oyj, General Manager, Halco Business 2020–2022 Entrepreneur, the Mechanical Engineering and Contracting Business 2007–2019 Kospa Oy, Managing Director 2006–2008 Ari Suokas, b. 1981 Group CFO, M.Sc. (Eng.) Member of the management team since 14 April 2025 Employed by Robit Plc since 2025 Shareholding on 31 December 2025: 7,500 shares Primary work experience: Bronto Skylift Oy Ab, CFO 2025 Elematic Oyj, CFO 2023–2024 UPM-Kymmene Oyj, Director, Business Control & Strategy 2021–2023 UPM-Kymmene Oyj, Director, Financial Control 2017–2021 UPM-Kymmene Oyj, Finance Manager 2015–2017 PwC Oy, Senior Consultant 2013–2015 Deloitte Oy, Consultant 2012–2013 Metsä Tissue Oyj, Controller 2009–2012
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35 ROBIT IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS THE REPORT OF THE BOARD OF DIRECTORS FINANCIAL STATEMENTS ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Information for Shareholders Annual General Meeting 2026 The 2026 Annual General Meeting of Robit Plc will be held at 14.00 (Finnish time) on Wednesday, 1 April 2026 in Tampere Hall, Yliopistonkatu 55, FI33100 Tampere, Finland. Right to attend The Annual General Meeting may be attended by shareholders who on the record date of the AGM, 20 March 2026, are registered in the shareholder’s register, held by Euroclear Finland. A shareholder whose shares are entered into their personal Finnish book entry account is registered in the company’s register of shareholders. A nominee-registered shareholder may be temporarily entered in the company’s shareholders’ register, which must be done by 27 March 2026 at 10.00 (Finnish time) at the latest to attend the General Meeting. The owner of a nominee- registered share is advised to request in good time the necessary instructions from their asset manager regarding registration in the shareholders’ register, the granting of powers of attorney and attendance at the Annual General Meeting. Registration A shareholder who wishes to attend the Annual General Meeting must inform the company of their attendance by 16.00 (Finnish time) on 25 March 2026. You can register for the Annual General Meeting: • via the company’s website www.robitgroup.com • by email to Innovatics Oy agm@innovatics.fi • by phone to Innovatics Oy +358 10 2818 909 on weekdays between 9.00–12.00 and 13.00–16.00 (Finnish time), or • by mail to Innovatics Oy, Yhtiökokous / Robit Oyj, Ratamestarinkatu 13 A, 00520 Helsinki Registrations must be made before the end of the registration period. Please submit any powers of attorney at the time of registration. Dividend Robit Plc’s Board of Directors has decided to propose to the Annual General Meeting that no dividend be paid for 2025. Share register A list of Robit Plc’s shares and their holders is kept in Euroclear Finland Oy. Shareholders are requested to report changes of address and other matters relating to their shareholding to the book-entry register where they have a book-entry account. Financial publications 2026 In 2026, Robit Plc will publish its financial statement release, half- year financial report and financial reviews for three and nine months as follows: 18 February 2026 Financial statements release for the financial year that ended on 31 December 2025 20 April 2026 Financial review for January–March 2026 07 August 2026 Half-year financial report for January–June 2026 21 October 2026 Financial review for January–September 2026 Robit publishes its Annual Report 2025 by 11 March 2026, at the latest. The company publishes its financial reports and stock exchange releases in Finnish and English. The releases will be available on the company’s website www.robitgroup.com after publication. Investor relations Robit Plc observes a 30-day silent period prior to the publication of financial statements and financial reviews, which ends with the publication of the results for the quarter or financial year in question. During the silent period, Robit Plc does not comment on its financial situation, markets or future prospects. During the period, the company’s management will not meet with representatives of the capital markets or the financial media and will not comment on the company’s financial situation or general outlook. Further information: Violetta Silver IR and Communications Manager Tel. +358 (0)3 3140 3400 Email: investors@robitgroup.com Visiting address: Robit Plc Vikkiniityntie 9 33880 Lempäälä, Finland
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36 ROBIT LYHYESTI YHTIÖ LIIKETOIMINTA VASTUULLISUUS SIJOITTAJILLE TILINPÄÄTÖS TUNNUSLUKUJEN LASKENTAKAAVAT ROBIT FURTHER. FASTER. VUOSIKERTOMUS 2025 THE REPORT OF THE BOARD OF DIRECTORS
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37 ROBIT LYHYESTI YHTIÖ LIIKETOIMINTA VASTUULLISUUS SIJOITTAJILLE TILINPÄÄTÖS TUNNUSLUKUJEN LASKENTAKAAVAT ROBIT FURTHER. FASTER. VUOSIKERTOMUS 2025 THE REPORT OF THE BOARD OF DIRECTORS
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38 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS The Report of the Board of Directors Year 2025 in Brief • Received orders EUR 79.6 million (88.8), decrease of 10.4% • Net sales EUR 78.8 million (90.3); decrease of 12.8% • EBITDA EUR 5.2 million (6.4); equivalent to 6.6% of net sales (7.1%) • Comparable EBITDA EUR 5.5 million (6.4); equivalent to 6.9% of net sales (7.1%) • EBIT EUR 1.4 million (2.5); equivalent to 1.8% of net sales (2.8%) • Comparable EBIT EUR 1.7 million (2.5); equivalent to 2.1% of net sales (2.8%) • Financial year net income EUR -0.2 million (1.1); equivalent to -0.3% of net sales (1.3%) • Net cash flow from operating activities EUR 5.9 million (1.5) • Equity ratio at the end of the financial year 52.0% (50.7%) The company’s comparable items were affected by costs related to the reorganization. Market Outlook for 2026 Robit estimates the global mining industry demand to remain at a good level. Demand in the construction industry is expected to stay at a low level during the first half of the year, but the demand is estimated to develop positively in the second half of the year. Possible import tariffs and the risk of a trade war increase uncertainty regarding market development. Guidance for 2026 Robit estimates that net sales in 2026 will increase and comparable EBIT profitability in euros will improve compared to 2025. Background to the Guidance The guidance is based on an assessment that demand in the mining industry will remain at a good level and that demand in the construction industry will develop positively in the second half of 2026. The guidance is based on the assumption that there will be no significant changes in exchange rates from the level effective at the end of 2025, and that possible import tariffs will not significantly weaken the company’s relative competitiveness in key markets. 1 THE REPORT OF THE BOARD OF DIRECTORS Year 2025 in Brief • Received orders EUR 79.6 million (88.8), decrease of 10.4% • Net sales EUR 78.8 million (90.3); decrease of 12.8% • EBITDA EUR 5.2 million (6.4); equivalent to 6.6% of net sales (7.1%) • Comparable EBITDA EUR 5.5 million (6.4); equivalent to 6.9% of net sales (7.1%) • EBIT EUR 1.4 million (2.5); equivalent to 1.8% of net sales (2.8%) • Comparable EBIT EUR 1.7 million (2.5); equivalent to 2.1% of net sales (2.8%) • Financial year net income EUR -0.2 million (1.1); equivalent to -0.3% of net sales (1.3%) • Net cash flow from operating activities EUR 5.9 million (1.5) • Equity ratio at the end of the financial year 52.0% (50.7%) The company’s comparable items were affected by costs related to the reorganization. Key financials Q4 2025 Q4 2024 Change% 2025 2024 Change% Net sales, EUR 1,000 18 428 21 387 -13,8% 78 762 90 284 -12,8% EBITDA, EUR 1,000 1 308 1 721 -24,0% 5 169 6 430 -19,6% EBITDA, % of net sales 7,1% 8,0% 6,6% 7,1% Comparable EBITDA, EUR 1,000 1 408 1 721 18,2% 5 467 6 430 -15,0% Comparable EBITDA, % of net sales 7,6% 8,0% 6,9% 7,1% EBIT, EUR 1,000 421 758 -44,5% 1 395 2 502 -44,2% EBIT, % of net sales 2,3% 3,5% 1,8% 2,8% Comparable EBIT, EUR 1,000 522 758 -31,2% 1 693 2 502 -32,3% Comparable EBIT, % of net sales 2,8% 3,5% 2,1% 2,8% Result for the review period, EUR 1,000 16 566 -97,1% -237 1 134 -120,9% Result for the period, % of net sales 0,1% 2,6% -0,3% 1,3% Earnings per share (EPS), EUR 1,000 0,01 0,03 -79,5% -0,01 0,05 -127,8% Return on equity (ROE), % -0,7% 2,4% Return on capital employed (ROCE), % 2,7% 3,9% MARKET OUTLOOK FOR 2026 Robit estimates the global mining industry demand to remain at a good level. Demand in the construction industry is expected to stay at a low level during the first half of the year, but the demand is estimated to develop positively in the second half of the year. Possible import tariffs and the risk of a trade war increase uncertainty regarding market development. GUIDANCE FOR 2026 Robit estimates that net sales in 2026 will increase and comparable EBIT profitability in euros will improve compared to 2025. BACKGROUND TO THE GUIDANCE The guidance is based on an assessment that demand in the mining industry will remain at a good level and that demand in the construction industry will develop positively in the second half of 2026. The guidance is based on the assumption that there will be no significant changes in exchange rates from the level effective at the end of 2025, and that possible import tariffs will not significantly weaken the company’s relative competitiveness in key markets.
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39 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS CEO Mikko Kuusilehto The final quarter of the year was weaker than the comparison period in terms of net sales, although market activity in the mining segment remained strong. The company’s position in its key markets did not yet allow it to fully capitalize on market growth, which underscores the need to strengthen its market position and customer base. In other customer segments, demand remained moderate and the competitive environment was intense. In October–December, received orders were EUR 19.1 million (19.6), representing a decrease of 2.6 per cent from the comparison period. Net sales for the review period were EUR 18.4 million (21.4), representing a decrease of 13.8 per cent. Operating profit decreased from the comparison period to EUR 0.4 million (0.8), representing 2.3 per cent of net sales (3.5). Comparable EBIT amounted to EUR 0.5 million (0.8), corresponding to 2.8 per cent of net sales (3.5). Net sales increased in North America and South Africa but decreased in the other market areas from the comparison period. By business unit, net sales in the Top Hammer business amounted to EUR 11.5 million (14.3), in the Down the Hole business to EUR 2.9 million (2.4), and in the Geotechnical business to EUR 4.0 million (4.6). The mining markets benefited from the world market prices of metals, which increased during 2025, as a result of which activity was at a high level globally throughout the year. For the other key customer segments, the market situation remained moderate. In 2025, received orders totalled EUR 79.6 million (88.8), representing a decrease of 10.4 per cent from the previous year. Robit’s net sales decreased 12.8 per cent to EUR 78.8 million (90.3). Net sales decreased in all three business areas, and the most significant drop in net sales was experienced in the Australian market. 2025 net sales decreased in the Top Hammer business by 9.8 per cent. Net sales decreased in all market areas. In Australia and Peru, certain contracts ended, and in the EMEA region sales decreased particularly in West Africa. By contrast, development on the Nordic markets was favourable. This development was supported by successful launches of new product solutions. The Robit RG-series RG51 and RG45 drill rods, launched in 2025, continued to increase their popularity particularly on the Nordic markets. In addition, the Robit® Extreme Carbide drill bits reinforced the company’s competitiveness in mining, where productivity and extending the service life of consumables are key factors from the perspective of sustainable development. Net sales for the Down the Hole business decreased 24.3 per cent in 2025. The decrease in net sales was due to global low-price compe- tition and a challenging competition situation on the key markets. Sales in the drilling of water and geothermal wells continued to develop more favourably than in the mining and quarrying sectors. The company continued to compensate for decreased sales by focusing on winning new customer accounts with mining drilling contractors in southern Africa, and on developing key distributor connections particularly in North America to recover growth. At the start of 2025, Robit supplemented the offering of the modular H-se- ries Down the Hole hammer family, furthering the transition from D-series hammers and Halco general-use hammers to a single uniform product family. The streamlined structure reduces the number of components and significantly improves the efficiency of the company and of its distributor network. In the Geotechnical business, net sales decreased 12.6 per cent in 2025. The decrease in net sales was due primarily to the fact that in 2025 the company won fewer major projects than the year before. The successful launch of the new H18 Down the Hole hammer was a major milestone for 2025. The product was well received by the market due to its strong performance characteristics, reliability and modular structure, delivering measurable added value to distributors and end-users alike. Furthermore, the company implemented its first large project under a partial rental agreement, which provided valuable practical experience to develop rental-based business models in the future. During the year, the company delivered to North America several large-sized systems, reinforcing its position in the sales area. In the first half of the year, the biggest integrated system in Robit’s history drilled successfully in demanding soil conditions in western Canada. These achievements boost the company’s reference portfolio and support Robit’s long-term efforts to expand its posi- tion in strategically important sales areas in the Nordic countries and North America. Robit’s comparable EBIT in 2025 was EUR 1.7 million (2.5). The weakened profitability was influenced by exchange rate losses and a decrease in net sales. Although we succeeded to improve the sales margin level, decreased net sales weakened overall profitability despite adjustment measures implemented. Robit’s net cash flow from operating activities in 2025 was EUR 5.9 million (1.5). The improved cash flow was supported in particular by a freeing up of working capital. Net cash flow from operating activities for the last quarter of the year was EUR 2.5 million (-1.6). In the last quarter of the year, comparable EBIT was 2.8 per cent of net sales (3.5). The company’s development in 2025 did not meet expectations. In 2026, the company’s key priority is to get net sales back on a growth track. The market situation is expected to mainly remain unchanged.
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40 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS Sustainability Robit’s sustainability work focuses on four key themes: responsible partnerships, reducing carbon dioxide emissions in the value chain, a happy and healthy workplace, and efficiency throughout the product lifecycle. We made good progress in many areas. We took a major step forward in reducing emissions intensity. In 2025, we were 44.1 per cent below the baseline year of 2020. This positive development was influenced by an increased use of zero-emission energy sources. Robit requires its contracted distributors and production suppliers to commit to the company’s ESG principles. Among suppliers, the share of commitments increased in 2025. Net Sales Net sales by product area The Group’s net sales in the last quarter of the year was EUR 18.4 million (21.4). There was a decrease of 13.8 per cent from the comparison period. In constant currencies, the decrease amounted to 9.8 per cent. The Group’s net sales in January–December were EUR 78.8 million (90.3). There was a decrease of 12.8 per cent from the comparison period. In constant currencies, the decrease amounted to 10.5 per cent. Top Hammer net sales decreased 19.6 per cent in the last quarter of the year, and review period net sales were EUR 11.5 million (14.3). The decline in net sales was most significant in the Australasia and EMEA regions. Down the Hole net sales increased 18.9 per cent in the last quarter of the year, and review period net sales were EUR 2.9 million (2.4). Net sales developed positively in the EMEA and Americas regions. Positive development continued particularly in southern Africa, where net sales in the Down the Hole business strengthened year-on-year. Geotechnical net sales decreased 13.3 per cent in the fourth quarter of the year, and review period net sales were EUR 4.0 million (4.6). Net sales developed positively in the Asia region and, correspondingly, decreased in the other regions. Net sales by market area 3 cash flow from operating activities in 2025 was EUR 5.9 million (1.5). The improved cash flow was supported in particular by a freeing up of working capital. Net cash flow from operating activities for the last quarter of the year was EUR 2.5 million (-1.6). In the last quarter of the year, comparable EBIT was 2.8 per cent of net sales (3.5). The company’s development in 2025 did not meet expectations. In 2026, the company’s key priority is to get net sales back on a growth track. The market situation is expected to mainly remain unchanged. SUSTAINABILITY Robit’s sustainability work focuses on four key themes: responsible partnerships, reducing carbon dioxide emissions in the value chain, a happy and healthy workplace, and efficiency throughout the product lifecycle. We made good progress in many areas. We took a major step forward in reducing emissions intensity. In 2025, we were 44.1 per cent below the baseline year of 2020. This positive development was influenced by an increased use of zero -emission energy sources. Robit requires its contracted distribut ors and production suppliers to commit to the company’s ESG principles. Among suppliers, the share of commitments increased in 2025. Emission intensity Waste Consultative hours per year LTIF Sustainable partners Sustainable distributors 12/2025 -44,1% 91,5% 901 h 8,4 98,6% 84,0% 12/2024 -39,6% 86,0% 1 170 h 7,8 96,6% 84,1% Target -50,0% >90,0% >1 000 h 0,0 >90,0% >90,0% NET SALES Net sales by product area EUR thousand Q4 2025 Q4 2024 Change% 2025 2024 Change% Top Hammer 11 524 14 332 -19,6% 51 504 57 104 -9,8% Down the Hole 2 900 2 438 18,9% 11 195 14 792 -24,3% Geotechnical 4 005 4 617 -13,3% 16 062 18 387 -12,6% Total 18 428 21 387 -13,8% 78 762 90 284 -12,8% The Group’s net sales in the last quarter of the year was EUR 18.4 million (21.4). There was a decrease of 13.8 per cent from the comparison period. In constant currencies, the decrease amounted to 9.8 per cent. The Group’s net sales in January–December were EUR 78.8 million (90.3). There was a decrease of 12.8 per cent from the comparison period. In constant currencies, the decrease amounted to 10.5 per cent. Top Hammer net sales decreased 19.6 per cent in the last quarter of the year, and review period net sales were EUR 11.5 million (14.3). The decline in net sales was most significant in the Australasia and EMEA regions. Down the Hole net sales increased 18.9 per cent in the last quarter of the year, and review period net sales were EUR 2.9 million (2.4). Net sales developed positively in the EMEA and Americas regions. Positive development continued particularly in souther n Africa, where net sales in the Down the Hole business strengthened year-on-year. Geotechnical net sales decreased 13.3 per cent in the fourth quarter of the year, and review period net sales were EUR 4.0 million (4.6). Net sales developed positively in the Asia region and, correspondingly, decreased in the other regions. 3 cash flow from operating activities in 2025 was EUR 5.9 million (1.5). The improved cash flow was supported in particular by a freeing up of working capital. Net cash flow from operating activities for the last quarter of the year was EUR 2.5 million (-1.6). In the last quarter of the year, comparable EBIT was 2.8 per cent of net sales (3.5). The company’s development in 2025 did not meet expectations. In 2026, the company’s key priority is to get net sales back on a growth track. The market situation is expected to mainly remain unchanged. SUSTAINABILITY Robit’s sustainability work focuses on four key themes: responsible partnerships, reducing carbon dioxide emissions in the value chain, a happy and healthy workplace, and efficiency throughout the product lifecycle. We made good progress in many areas. We took a major step forward in reducing emissions intensity. In 2025, we were 44.1 per cent below the baseline year of 2020. This positive development was influenced by an increased use of zero -emission energy sources. Robit requires its contracted distribut ors and production suppliers to commit to the company’s ESG principles. Among suppliers, the share of commitments increased in 2025. Emission intensity Waste Consultative hours per year LTIF Sustainable partners Sustainable distributors 12/2025 -44,1% 91,5% 901 h 8,4 98,6% 84,0% 12/2024 -39,6% 86,0% 1 170 h 7,8 96,6% 84,1% Target -50,0% >90,0% >1 000 h 0,0 >90,0% >90,0% NET SALES Net sales by product area EUR thousand Q4 2025 Q4 2024 Change% 2025 2024 Change% Top Hammer 11 524 14 332 -19,6% 51 504 57 104 -9,8% Down the Hole 2 900 2 438 18,9% 11 195 14 792 -24,3% Geotechnical 4 005 4 617 -13,3% 16 062 18 387 -12,6% Total 18 428 21 387 -13,8% 78 762 90 284 -12,8% The Group’s net sales in the last quarter of the year was EUR 18.4 million (21.4). There was a decrease of 13.8 per cent from the comparison period. In constant currencies, the decrease amounted to 9.8 per cent. The Group’s net sales in January–December were EUR 78.8 million (90.3). There was a decrease of 12.8 per cent from the comparison period. In constant currencies, the decrease amounted to 10.5 per cent. Top Hammer net sales decreased 19.6 per cent in the last quarter of the year, and review period net sales were EUR 11.5 million (14.3). The decline in net sales was most significant in the Australasia and EMEA regions. Down the Hole net sales increased 18.9 per cent in the last quarter of the year, and review period net sales were EUR 2.9 million (2.4). Net sales developed positively in the EMEA and Americas regions. Positive development continued particularly in souther n Africa, where net sales in the Down the Hole business strengthened year-on-year. Geotechnical net sales decreased 13.3 per cent in the fourth quarter of the year, and review period net sales were EUR 4.0 million (4.6). Net sales developed positively in the Asia region and, correspondingly, decreased in the other regions. 4 Net sales by market area EUR thousand Q4 2025 Q4 2024 Change% 2025 2024 Change% EMEA 10 133 11 585 -12,5% 43 837 47 196 -7,1% Americas 4 567 4 517 1,1% 18 141 19 147 -5,3% Asia 1 831 2 666 -31,3% 8 290 9 003 -7,9% Australasia 1 898 2 619 -27,5% 8 494 14 938 -43,1% Total 18 428 21 387 13,8% 78 762 90 284 -12,8% PROFITABILITY Key figures EUR thousand Q4 2025 Q4 2024 Change% 2025 2024 Change% EBITDA, EUR 1,000 1 308 1 721 -24,0% 5 169 6 430 -19,6% EBITDA, % of net sales 7,1% 8,0% 6,6% 7,1% Comparable EBITDA, EUR 1,000 1 408 1 721 -18,2% 5 467 6 430 -15,0% Comparable EBITDA, % of net sales 7,6% 8,0% 6,9% 7,1% EBIT, EUR 1,000 421 758 -44,5% 1 395 2 502 -44,2% EBIT, % of net sales 2,3% 3,5% 1,8% 2,8% Comparable EBIT, EUR 1,000 522 758 -31,2% 1 693 2 502 -32,3% Comparable EBIT, % of net sales 2,8% 3,5% 2,1% 2,8% Result for the period, EUR 1,000 16 566 -97,1% -237 1 134 -120,9% Result for the period, % of net sales 0,1% 2,6% 0,3% 1,3% Comparable EBITDA for the last quarter of the year was EUR 1.4 million (1.7). Comparable EBITDA’s share of net sales was 7.6 per cent (8.0). The Group’s EBIT was EUR 0.5 million (0.8). EBIT was 2.8 per cent (3.5) of comparison period net sales. The company’s gross margins improved, in euro terms, from the comparison period. The company’s cost structure adjustment measures had a positive impact on profitability during the review period. Net income for the last quarter of the year was EUR 0.0 million (0.6). Financial income and expenses in the last quarter of the year were EUR -0.4 million (-0.2), of which interest expenses accounted for EUR -0.3 million (-0.3) and exchange rate changes accounted for EUR -0.1 million (0.1). In January–December, comparable EBITDA was EUR 5.5 million (6.4). Comparable EBITDA’s share of net sales was 6.9 per cent (7.1). The Group’s EBIT was EUR 1.7 million (2.5). EBIT was 2.1 per cent (2.8) of January–December net sales. The impact of exchange rate changes was EUR -0.7 million (0.6). In January–December, financial income and expenses were EUR -1.3 million (-1.5), of which interest expenses accounted for EUR -1.0 million (- 1.5) and exchange rate changes accounted for EUR -0.2 million (0.1). Financial expenses decreased due to a reduced funding margin and a reduced loan stock. Thus, taxes for the financial year were EUR -0.3 million (0.1). Financial year net income was EUR -0.2 million (1.1).
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41 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS Profitability Key figures Comparable EBITDA for the last quarter of the year was EUR 1.4 million (1.7). Comparable EBITDA’s share of net sales was 7.6 per cent (8.0). The Group’s EBIT was EUR 0.5 million (0.8). EBIT was 2.8 per cent (3.5) of comparison period net sales. The company’s gross margins improved, in euro terms, from the comparison period. The company’s cost structure adjustment measures had a positive impact on profitability during the review period. Net income for the last quarter of the year was EUR 0.0 million (0.6). Financial income and expenses in the last quarter of the year were EUR -0.4 million (-0.2), of which interest expenses accounted for EUR -0.3 million (-0.3) and exchange rate changes accounted for EUR -0.1 million (0.1). In January–December, comparable EBITDA was EUR 5.5 million (6.4). Comparable EBITDA’s share of net sales was 6.9 per cent (7.1). The Group’s EBIT was EUR 1.7 million (2.5). EBIT was 2.1 per cent (2.8) of January–December net sales. The impact of exchange rate changes was EUR -0.7 million (0.6). In January–December, financial income and expenses were EUR -1.3 million (-1.5), of which interest expenses accounted for EUR -1.0 million (-1.5) and exchange rate changes accounted for EUR -0.2 million (0.1). Financial expenses decreased due to a reduced funding margin and a reduced loan stock. Thus, taxes for the financial year were EUR -0.3 million (0.1). Financial year net income was EUR -0.2 million (1.1). Cash Flow and Investments Consolidated cash flow statement 4 Net sales by market area EUR thousand Q4 2025 Q4 2024 Change% 2025 2024 Change% EMEA 10 133 11 585 -12,5% 43 837 47 196 -7,1% Americas 4 567 4 517 1,1% 18 141 19 147 -5,3% Asia 1 831 2 666 -31,3% 8 290 9 003 -7,9% Australasia 1 898 2 619 -27,5% 8 494 14 938 -43,1% Total 18 428 21 387 13,8% 78 762 90 284 -12,8% PROFITABILITY Key figures EUR thousand Q4 2025 Q4 2024 Change% 2025 2024 Change% EBITDA, EUR 1,000 1 308 1 721 -24,0% 5 169 6 430 -19,6% EBITDA, % of net sales 7,1% 8,0% 6,6% 7,1% Comparable EBITDA, EUR 1,000 1 408 1 721 -18,2% 5 467 6 430 -15,0% Comparable EBITDA, % of net sales 7,6% 8,0% 6,9% 7,1% EBIT, EUR 1,000 421 758 -44,5% 1 395 2 502 -44,2% EBIT, % of net sales 2,3% 3,5% 1,8% 2,8% Comparable EBIT, EUR 1,000 522 758 -31,2% 1 693 2 502 -32,3% Comparable EBIT, % of net sales 2,8% 3,5% 2,1% 2,8% Result for the period, EUR 1,000 16 566 -97,1% -237 1 134 -120,9% Result for the period, % of net sales 0,1% 2,6% 0,3% 1,3% Comparable EBITDA for the last quarter of the year was EUR 1.4 million (1.7). Comparable EBITDA’s share of net sales was 7.6 per cent (8.0). The Group’s EBIT was EUR 0.5 million (0.8). EBIT was 2.8 per cent (3.5) of comparison period net sales. The company’s gross margins improved, in euro terms, from the comparison period. The company’s cost structure adjustment measures had a positive impact on profitability during the review period. Net income for the last quarter of the year was EUR 0.0 million (0.6). Financial income and expenses in the last quarter of the year were EUR -0.4 million (-0.2), of which interest expenses accounted for EUR -0.3 million (-0.3) and exchange rate changes accounted for EUR -0.1 million (0.1). In January–December, comparable EBITDA was EUR 5.5 million (6.4). Comparable EBITDA’s share of net sales was 6.9 per cent (7.1). The Group’s EBIT was EUR 1.7 million (2.5). EBIT was 2.1 per cent (2.8) of January–December net sales. The impact of exchange rate changes was EUR -0.7 million (0.6). In January–December, financial income and expenses were EUR -1.3 million (-1.5), of which interest expenses accounted for EUR -1.0 million (- 1.5) and exchange rate changes accounted for EUR -0.2 million (0.1). Financial expenses decreased due to a reduced funding margin and a reduced loan stock. Thus, taxes for the financial year were EUR -0.3 million (0.1). Financial year net income was EUR -0.2 million (1.1). 5 CASH FLOW AND INVESTMENTS Consolidated cash flow statement EUR thousand Q4 2025 Q4 2024 2025 2024 Net cash flows from operating activities Cash flows before changes in working capital 1 156 1 371 5 980 6 254 Cash flows from operating activities before financial items and taxes 3 147 -978 7 240 3 035 Net cash inflow (outflow) from operating activities 2 512 -1 562 5 921 1 517 Net cash inflow (outflow) from investing activities -206 -193 -998 1 451 Net cash inflow (outflow) from financing activities -2 917 -2 114 -4 155 -5 213 Net increase (+)/decrease (-) in cash and cash equivalents -611 -3 870 768 -2 245 Cash and cash equivalents at the beginning of the financial year 9 992 12 735 9 040 11 201 Exchange gains/losses on cash and cash equivalents 134 175 -293 85 Cash and cash equivalents at end of the year 9 515 9 040 9 515 9 040 The Group’s cash flow in the last quarter of the year before changes in working capital was EUR 1.2 million (1.4). Net cash flow from operating activities was EUR 2.5 million ( -1.6). The changes in working capital had an impact of EUR 2.0 million (-2.3). A growth in accounts payable had a EUR 2.2 million (-4.3) impact on the change in working capital, and a decrease in accounts receivable had a EUR 1.6 million (2.4) impact and a change in inventories had a EUR -1.8 million ( -0.4) impact. Net cash flow from operating activities in the financial year was EUR 5.9 million (1.5). Net cash flow from investing activities in the last quarter of the year was EUR -0.2 million ( -0.2). Gross investments in production were EUR 0.2 million (0.2). The share of investments in net sales was 1.1 per cent (0.9). Net cash flow from investing activities in the financial year was EUR -1.0 million (1.5). During the financial year, investments were made in the Korean factory. This is in line with Robit’s investment plan. Net cash flow from financing activities in the last quarter of the year was EUR -2.9 million (-2.1). Net changes in loans were EUR -1.7 million (-1.6). The change in bank overdrafts was EUR -0.8 million (0.1). Net cash flow from financing activities in the financial year was EUR -4.2 million (-5.2). Depreciation, amortisation and write -downs in the last quarter of the year were EUR -0.9 million (- 0.9). Depreciation and amortisation in the financial year were EUR -3.8 million (-3.9). FINANCIAL POSITION 31.12.2025 31.12.2024 Cash and cash equivalents, EUR thousand 9 515 9 040 Interest-bearing liabilities, EUR thousand 24 556 27 661 of which short-term interest-bearing financial liabilities: 6 697 6 476 Net interest-bearing liabilities, EUR thousand 15 041 18 621 Undrawn credit facility, EUR thousand 6 000 5 895 Gearing, % 35,0 % 40,3 % Equity ratio, % 52,0 % 50,7 % The Group had interest-bearing debt amounting to EUR 24.6 million (27.7), of which EUR 3.4 million (4.0) was IFRS 16 interest-bearing debt. The company had cash and cash equivalents amounting to EUR 9.5 million (9.0) and, in addition, an undrawn credit fac ility of EUR 6.0 million (5.9). Interest -bearing net liabilities were EUR 15.0 million (18.6), and interest -bearing net bank debt without IFRS 16 debt impact was 11.6 million (14.6). The company’s financial position continued to strengthen. The Group’s equity at the end of the review period was EUR 43.0 million (46.2). The Group’s equity ratio improved and was 52.0 per cent (50.7). Gearing was 35.0 per cent (40.3).
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42 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS The Group’s cash flow in the last quarter of the year before changes in working capital was EUR 1.2 million (1.4). Net cash flow from oper- ating activities was EUR 2.5 million (-1.6). The changes in working capital had an impact of EUR 2.0 million (-2.3). A growth in accounts payable had a EUR 2.2 million (-4.3) impact on the change in working capital, and a decrease in accounts receivable had a EUR 1.6 million (2.4) impact and a change in inventories had a EUR -1.8 million (-0.4) impact. Net cash flow from operating activities in the financial year was EUR 5.9 million (1.5). Net cash flow from investing activities in the last quarter of the year was EUR -0.2 million (-0.2). Gross investments in production were EUR 0.2 million (0.2). The share of investments in net sales was 1.1 per cent (0.9). Net cash flow from investing activities in the financial year was EUR -1.0 million (1.5). During the financial year, investments were made in the Korean factory. This is in line with Robit’s investment plan. Net cash flow from financing activities in the last quarter of the year was EUR -2.9 million (-2.1). Net changes in loans were EUR -1.7 million (-1.6). The change in bank overdrafts was EUR -0.8 million (0.1). Net cash flow from financing activities in the financial year was EUR -4.2 million (-5.2). Depreciation, amortisation and write-downs in the last quarter of the year were EUR -0.9 million (-0.9). Depreciation and amortisation in the financial year were EUR -3.8 million (-3.9). Financial Position The Group had interest-bearing debt amounting to EUR 24.6 million (27.7), of which EUR 3.4 million (4.0) was IFRS 16 interest-bearing debt. The company had cash and cash equivalents amounting to EUR 9.5 million (9.0) and, in addition, an undrawn credit facility of EUR 6.0 million (5.9). Interest-bearing net liabilities were EUR 15.0 million (18.6), and interest-bearing net bank debt without IFRS 16 debt impact was 11.6 million (14.6). The company’s financial position continued to strengthen. The Group’s equity at the end of the review period was EUR 43.0 million (46.2). The Group’s equity ratio improved and was 52.0 per cent (50.7). Gearing was 35.0 per cent (40.3). A credit facility, totalling EUR 21.1 million, of which EUR 18.0 million is secured by a negative pledge that imposes on Robit certain cove- nants and limitations regarding additional loans. The negative pledge states that (subject to certain exceptions) Robit will not provide any other security over its assets. The mentioned certain exceptions apply to guarantees provided for Robit Korea’s loans. Additionally, Robit will ensure that the following financial performance measures (the original terms of the financing agreement) are met: • Minimum equity ratio of 30.0% and • Net debt/adjusted EBITDA ratio is defined not to exceed 3.5 According to the financing agreement, the ratio of net liabilities to EBITDA at the time of review of the covenant terms as of 31 December 2025 may not exceed 3.50. In accordance with the terms of the financing agreement, the main financier could demand full repayment of the loan if the covenant conditions are breached. The covenant of Robit Plc's financing agreement, interest-bearing net debt/EBITDA, was 2.91 and thus has met the terms of the financing agreement on 31 December 2025. The terms of the financing agreement are reviewed semiannually. Robit amortized its loans by EUR 1.5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1.50 %. Robit has EUR 9.5 million in cash and cash equivalents and EUR 6.0 million in other financial assets at its disposal on December 31, 2025, and according to the company's management's estimate, will be able to meet its loan amortization obligations and liquidity requirements according to the plan. 5 CASH FLOW AND INVESTMENTS Consolidated cash flow statement EUR thousand Q4 2025 Q4 2024 2025 2024 Net cash flows from operating activities Cash flows before changes in working capital 1 156 1 371 5 980 6 254 Cash flows from operating activities before financial items and taxes 3 147 -978 7 240 3 035 Net cash inflow (outflow) from operating activities 2 512 -1 562 5 921 1 517 Net cash inflow (outflow) from investing activities -206 -193 -998 1 451 Net cash inflow (outflow) from financing activities -2 917 -2 114 -4 155 -5 213 Net increase (+)/decrease (-) in cash and cash equivalents -611 -3 870 768 -2 245 Cash and cash equivalents at the beginning of the financial year 9 992 12 735 9 040 11 201 Exchange gains/losses on cash and cash equivalents 134 175 -293 85 Cash and cash equivalents at end of the year 9 515 9 040 9 515 9 040 The Group’s cash flow in the last quarter of the year before changes in working capital was EUR 1.2 million (1.4). Net cash flow from operating activities was EUR 2.5 million ( -1.6). The changes in working capital had an impact of EUR 2.0 million (-2.3). A growth in accounts payable had a EUR 2.2 million (-4.3) impact on the change in working capital, and a decrease in accounts receivable had a EUR 1.6 million (2.4) impact and a change in inventories had a EUR -1.8 million ( -0.4) impact. Net cash flow from operating activities in the financial year was EUR 5.9 million (1.5). Net cash flow from investing activities in the last quarter of the year was EUR -0.2 million ( -0.2). Gross investments in production were EUR 0.2 million (0.2). The share of investments in net sales was 1.1 per cent (0.9). Net cash flow from investing activities in the financial year was EUR -1.0 million (1.5). During the financial year, investments were made in the Korean factory. This is in line with Robit’s investment plan. Net cash flow from financing activities in the last quarter of the year was EUR -2.9 million (-2.1). Net changes in loans were EUR -1.7 million (-1.6). The change in bank overdrafts was EUR -0.8 million (0.1). Net cash flow from financing activities in the financial year was EUR -4.2 million (-5.2). Depreciation, amortisation and write -downs in the last quarter of the year were EUR -0.9 million (- 0.9). Depreciation and amortisation in the financial year were EUR -3.8 million (-3.9). FINANCIAL POSITION 31.12.2025 31.12.2024 Cash and cash equivalents, EUR thousand 9 515 9 040 Interest-bearing liabilities, EUR thousand 24 556 27 661 of which short-term interest-bearing financial liabilities: 6 697 6 476 Net interest-bearing liabilities, EUR thousand 15 041 18 621 Undrawn credit facility, EUR thousand 6 000 5 895 Gearing, % 35,0 % 40,3 % Equity ratio, % 52,0 % 50,7 % The Group had interest-bearing debt amounting to EUR 24.6 million (27.7), of which EUR 3.4 million (4.0) was IFRS 16 interest-bearing debt. The company had cash and cash equivalents amounting to EUR 9.5 million (9.0) and, in addition, an undrawn credit fac ility of EUR 6.0 million (5.9). Interest -bearing net liabilities were EUR 15.0 million (18.6), and interest -bearing net bank debt without IFRS 16 debt impact was 11.6 million (14.6). The company’s financial position continued to strengthen. The Group’s equity at the end of the review period was EUR 43.0 million (46.2). The Group’s equity ratio improved and was 52.0 per cent (50.7). Gearing was 35.0 per cent (40.3).
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43 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS Personnel and Management The number of personnel decreased by 18 people from the end of the comparison period, and at the end of 2025 was 207 (225). At the end of the review period, 65 per cent of the Group’s personnel were located outside Finland. In addition to CEO Mikko Kuusilehto, the company’s Management Team at the end of the review period included Perttu Aho (VP Down the Hole), Jorge Leal (VP Top Hammer), Pia Mutanen (HR Director) and Ari Suokas (CFO). The total amount of salaries and remuneration paid by Robit during the financial year was EUR 13,1 million (14,1). Notes to the financial statements Related party transactions are presented in note 6.3. Financial Targets Robit’s long-term target is to grow faster than average market growth and achieve comparable EBIT profitability of more than 10 per cent. Share-Based Incentive Programmes Share-based incentive scheme 2022–2024 On 15 February 2022, Robit Plc’s Board of Directors decided on a performance-based share reward scheme for the company’s key personnel. On 24 March 2022, Robit’s Board of Directors decided to increase the maximum size of the share reward scheme due to the change of CEO. The share scheme included earning periods of one year and two years. The first earning period of the share scheme comprised the year 2022 and the second earning period comprised the years 2023–2024. The remuneration that may be paid under the share scheme for the 2022 one-year earning period was based on the company’s predetermined net cash inflow target in the 2022 financial statements. The remuneration that may be paid under the share scheme for the 2023–2024 two-year earning period was based on the company’s predetermined average earnings per share in the financial statements for the years 2023 and 2024. The share scheme’s reward for both earning periods was paid in May 2025 as a monetary bonus corresponding to the number of shares. Share-based incentive scheme 2023–2025 On 20 February 2023, Robit Plc’s Board of Directors decided on a performance-based share reward scheme for the company’s key personnel. The share scheme includes earning periods of one year and two years. The first earning period of the share scheme comprises the year 2023 and the second earning period comprises the years 2024–2025. The reward for the 2023 earning period is divided into a guaranteed part and a performance-based part. The guaranteed part is 50 per cent of the base share allocation defined for the partici - pant. The remuneration that may be paid under the share scheme for the 2024–2025 two-year earning period is based on the company’s predetermined average earnings per share in the financial statements for the years 2024 and 2025. The share scheme’s potential reward for both earning periods will be paid in May 2026. The share scheme covers 17 individuals. The total amount of the share rewards payable on the basis of the 2023 and 2024–2025 earning periods corresponds to a maximum of 240,000 Robit Plc shares, representing 1.1 per cent of the company’s current share capital. Share-based incentive scheme 2025–2027 On 25 June 2024, Robit’s Board of Directors decided on a share-based incentive scheme for the Group’s key personnel. The share scheme has three elements: the key person’s personal investment in the company (base share plan), an incentive for the company’s additional shares (matching share plan) and a performance-based additional share plan (performance matching plan), which is always based on a one-year performance period, the objectives of which are determined by the company’s Board of Directors in January of the year in question. The share-based incentive scheme covers 12 individuals. The company’s matching shares and possible performance matching shares will be paid in April 2028. The total amount of share rewards corresponds to a maximum of 303,750 shares, which corresponds to 1.4 per cent of the company’s current share capital. 6 A credit facility, totalling EUR 21.1 million, of which EUR 18.0 million is secured by a negative pledge that imposes on Robit certain covenants and limitations regarding additional loans. The negative pledge states that (subject to certain exceptions) Robit will not provide any other security over its assets. The mentioned certain exceptions apply to guarantees provided for Robit Korea’s loans. Additionally, Robit will ensure that the following financial performance measures (the original terms of the financing agreement) are met: • Minimum equity ratio of 30.0% and • Net debt/adjusted EBITDA ratio is defined not to exceed 3.5 According to the financing agreement, the ratio of net liabilities to EBITDA at the time of review of the covenant terms as of 31 December 2025 may not exceed 3.50. In accordance with the terms of the financing agreement, the main financier could demand full repayment of the loan if the covenant conditions are breached. The covenant of Robit Plc's financing agreement, interest -bearing net debt/EBITDA, was 2.91 and thus has met the terms of the financing agreement on 31 December 2025. The terms of the financing agreement are reviewed semiannually. Robit amortized its loans by EUR 1.5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1.50 %. Robit has EUR 9.5 million in cash and cash equivalents and EUR 6.0 million in other financial assets at its disposal on December 31, 2025, and according to the company's management's estimate, will be able to meet its loan amortization obligations and liquidity requirements according to the plan. PERSONNEL AND MANAGEMENT The number of personnel decreased by 18 people from the end of the comparison period, and at the end of 2025 was 207 (225). At the end of the review period, 65 per cent of the Group’s personnel were located outside Finland. In addition to CEO Mikko Kuusilehto, the company’s Management Team at the end of the review period included Perttu Aho (VP Down the Hole), Jorge Leal (VP Top Hammer), Pia Mutanen (HR Director) and Ari Suokas (CFO). The total amount of salaries and remuneration paid by Robit during the financial year was EUR 13,1 million (14,1). Notes to the financial statements Related party transactions are presented in note 6.3. FINANCIAL TARGETS Robit’s long-term target is to grow faster than average market growth and achieve comparable EBIT profitability of more than 10 per cent. Long term target 2023 2024 Rolling 12m per 31.12.2025 Comparable EBIT, % of net sales p.a. >10% -0,1% 2,8% 2,1% SHARE-BASED INCENTIVE PROGRAMMES Share-based incentive scheme 2022–2024 On 15 February 2022, Robit Plc’s Board of Directors decided on a performance-based share reward scheme for the company’s key personnel. On 24 March 2022, Robit’s Board of Directors decided to increase the maximum size of the share reward scheme due to the change of CEO.
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44 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS Resolutions of the Annual General Meeting 2025 Robit Plc’s Annual General Meeting was held in Tampere on 8 April 2025. The decisions and other materials related to the meeting are available on the company’s website at https://www.robitgroup.com/investor/corporate-governance/general-meeting/. Report of Other Than Financial Information Robit manufactures and sells rock and earth drilling consumables internationally to the mining and construction markets. The compa - ny’s operations are based on high quality, reliability of supply and customer confidence in drilling consumables. Through innovative Top Hammer, Down the Hole and Geotechnical products, and customer-based services, Robit delivers savings in drilling costs to its customers. Robit has its own sales and service points in seven countries and an active distributor network through which it sells to more than 100 countries. The company’s manufacturing units are located in Finland, South Korea and the UK. Robit’s share is listed on Nasdaq Helsinki Ltd. Robit is dedicated to act responsibly in its business. Daily work is directed by strategy, values, and operating principles of the Group. Key principles and obligations supporting other than financial matters’ management Robit follows international and local laws and statutes in force in its business. The company follows also international agreements and recommendations, such as the UN Sustainable Development Goals. The Code of Conduct guides our responsibility. The induction of every new Robit employee includes the completion of the Code of Conduct eLearning programme. This is to ensure that everyone working in the company knows our Code of Conduct and is committed to it. The Code of Conduct provides guidelines on, among others, the following issues: compliance with laws, human and labour rights, equality, honesty, and fair competition. Sustainable partnerships Robit develops the sustainability and operational performance of the entire supply chain through long-term partnerships. Robit works with partners who share similar principles and goals when it comes to the environment, social responsibility and governance. Robit has prepared sustainability-related compliance documentation for its key external stakeholders. Robit requests its contractual distributors and production suppliers to commit to the company’s ESG principles. Partners are encouraged to support Robit’s sustaina - bility objectives. A sustainability-focused approach has been incorporated into the supplier audit program. CO2 emission reduction in our value chain Robit has identified CO2 reduction as one key focus area of sustainability. There are possibilities to affect O2 emissions by making changes in the company’s own operations. However, it is also recognized that there is potential for improvement by improving operations in cooperation with the whole supply chain. Robit reports carbon emissions from its own operations. The company’s 2020 carbon footprint (Scope 1 and 2) calculated according to Greenhouse Gas Protocol (GHG Protocol) Corporate Standard was 3,383 tCO2e corresponding to 36.9 tCO2e per million euro of net sales. In 2025, the company's Scope 1 and 2 emission intensity was 20.6 CO2e per million euros of revenue (2024: 22.3 CO2e per million euros of revenue), representing a change from the 2020 baseline of -44.1 percent. The most important factors that have reduced the emission intensity are the concentration of production in fewer production plants and the increased use of CO2-free electricity. In addition, the company has implemented several smaller measures to support the achieve - ment of the goal. Happy and healthy workplace Robit’s key objective is to be a responsible employer that offers its employees the opportunity to be part of a healthy, safe and collabora- tive working community. In addition to complying with statutory requirements the company wants to support employee wellbeing and competence development. “We respect everybody” is one of the three Robit values that have been actively communicated to personnel. Robit constantly strives to improve work safety in all aspects of the company's operations. There is a Robit HSE Team in place, which coor- dinates safety activities within the Group. Robit continues to build diversity and inclusion as a natural part of Robit culture. Diversity is already today one of the strengths at Robit and there are tens of different nationalities working in the company. Several communication
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45 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS channels for the personnel have been taken into use, including e.g. Feeling Pulse for weekly feedback, Viva Engage for informal discus - sions, where important topics, like values and company development areas are discussed, and Whistleblowing channel in accordance with the law. Efficiency throughout product lifecycle Efficiency throughout the product lifecycle means: • material efficiency in product design and production, • materials are sourced efficiently and from sources that share Robit’s ESG vision, • increasing product lifetime through training and value adding services, • decreasing waste in customers’ operations. Especially big leverage is in optimizing Robit’s customers’ drilling operations. By optimizing the drilling operation, it is possible to reduce energy consumption and increase rate of penetration and thus drilling efficiency. Robit has been training its sales and distributors so that they would have better capability to find best products for the end-users and thus support them to perform drilling in effective way. toimintaa.
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46 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS ESG KPIs and targets Robit has defined measurable targets for each four key themes to follow the realization of the ESG roadmap. Robit launched the targets as a part of the ESG plan in September 2021. In 2025 Robit continued its active sustainability communication inside the organization and achieved positive development in the key target areas. 9 • material efficiency in product design and production, • materials are sourced efficiently and from sources that share Robit’s ESG vision, • increasing product lifetime through training and value adding services, • decreasing waste in customers’ operations. Especially big leverage is in optimizing Robit’s customers’ drilling operations. By optimizing the drilling operation, it is possible to reduce energy consumption and increase rate of penetration and thus drilling efficiency. Robit has been training its sales and distributors so that they would have better capability to find best products for the end-users and thus support them to perform drilling in effective way. ESG KPIs and targets Robit has defined measurable targets for each four key themes to follow the realization of the ESG roadmap. Robit launched the targets as a part of the ESG plan in September 2021. In 2025 Robit continued its active sustainability communication inside the organization and achieved positive development in the key target areas. KPI Target Result 2025 Result 2024 Our target is to have minimum of 90% of our supplier spend coming from suppliers who have committed to Robit’s supply chain policy. 90% 99% 97% Our target is to have at least 90% of our distributors, measured by sales volume, commit to Robit’s ESG principles. 90% 84% 84% Robit is committed in reducing its Scope 1 and 2 CO2 intensity by 50% from the 2020 baseline by 2030. - 50% - 44% - 40% Our goal is zero lost-time injuries. The indicator to be followed is Lost Time Injury Frequency (LTIF). 0 8.4 7.8 We are constantly improving the involvement of our personnel. The indicator we follow is the PeoplePower® index. >70 72.3 70.3 Robit is committed to providing at least 1,000 hours of consultative sales training to Robit’s and its distributors sales and technical people annually. 1 000 h 901 h 1 170 h 10 Robit is committed to improving material efficiency in its internal operations. Robit has set a target of over 90% of waste recycling in its operations. 90% 92% 86% KEY INTANGIBLE RESOURCES The test data collected from the company's products can be read as central intangible assets of the Robit Group, which are not recorded on the balance sheet. Together with customers, we test products that are suitable for their use for different purposes and soils, and the company uses the test results collected in product development and sales work. In addition to these, Robit actively trains its personnel and thus increases their skills, which Robit can utilize in its business. RESEARCH AND DEVELOPMENT Robit continues to invest in its own product development projects and in collective product development projects in the industry to secure competitive and innovative offering. Total costs relating to research and development recognized to the consolidated statement of comprehensive income were EUR 120 thousand in 2025 and EUR 149 thousand in 2024. Capitalized development expenses in the balance sheet amounted to EUR 25 thousand as of December 31st, 2025 (2024: EUR 27 thousand). SHARES AND TRADING VOLUME On 31 December 2025, the company had 21,179,900 shares and 4,697 shareholders. On 31 December 2025, the market value of the company’s shares was EUR 22.7 million. The share closing price was EUR 1.07. The highest price in the review period was EUR 1.59, and the lowest price was EUR 1.03. The trading volume in January–December was 4,589,547 shares (3,569,704). On 31 December 2025, the company held 38,357 treasury shares (0.2% of total shares). Shareholding of the board members and management 31 December 2025 Shares Shares % Shareholdings of the board members 5 978 604 28,23% Helena Kauppinen 12 179 0,06% Mikko Kuitunen 47 349 0,22% Harri Sjöholm* 5 796 879 27,37% Kai Telanne 20 660 0,10% Markku Teräsvasara 62 272 0,29% Eeva-Liisa Virkkunen 39 265 0,19% Group CEO 20 000 0,09% Other management team members 25 000 0,12% Total 6 023 604 28,44% *27,06 % owned by Harri Sjöholm through Five Alliance Ltd Shareholdings by owner class (shares) 31 December 2025 Owners Owners % Votes Shares Shares % 1–100 1 431 30,47 61 255 61 255 0,29 101–500 1 393 29,66 391 451 391 451 1,85 501–1 000 657 13,99 542 604 542 604 2,56 1 001–5 000 890 18,95 2 097 924 2 097 924 9,91 5 001–10 000 175 3,73 1 304 924 1 304 924 6,16 10 001–50 000 120 2,56 2 633 206 2 633 206 12,43
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47 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS Key Intangible Resources The test data collected from the company's products can be read as central intangible assets of the Robit Group, which are not recorded on the balance sheet. Together with customers, we test products that are suitable for their use for different purposes and soils, and the company uses the test results collected in product development and sales work. In addition to these, Robit actively trains its personnel and thus increases their skills, which Robit can utilize in its business. Research and Development Robit continues to invest in its own product development projects and in collective product development projects in the industry to secure competitive and innovative offering. Total costs relating to research and development recognized to the consolidated statement of comprehensive income were EUR 120 thousand in 2025 and EUR 149 thousand in 2024. Capitalized development expenses in the balance sheet amounted to EUR 25 thousand as of December 31st, 2025 (2024: EUR 27 thousand). Shares and Trading Volume On 31 December 2025, the company had 21,179,900 shares and 4,697 shareholders. On 31 December 2025, the market value of the company’s shares was EUR 22.7 million. The share closing price was EUR 1.07. The highest price in the review period was EUR 1.59, and the lowest price was EUR 1.03. The trading volume in January–December was 4,589,547 shares (3,569,704). On 31 December 2025, the company held 38,357 treasury shares (0.2% of total shares). *27,06 % owned by Harri Sjöholm through Five Alliance Ltd 10 Robit is committed to improving material efficiency in its internal operations. Robit has set a target of over 90% of waste recycling in its operations. 90% 92% 86% KEY INTANGIBLE RESOURCES The test data collected from the company's products can be read as central intangible assets of the Robit Group, which are not recorded on the balance sheet. Together with customers, we test products that are suitable for their use for different purposes and soils, and the company uses the test results collected in product development and sales work. In addition to these, Robit actively trains its personnel and thus increases their skills, which Robit can utilize in its business. RESEARCH AND DEVELOPMENT Robit continues to invest in its own product development projects and in collective product development projects in the industry to secure competitive and innovative offering. Total costs relating to research and development recognized to the consolidated statement of comprehensive income were EUR 120 thousand in 2025 and EUR 149 thousand in 2024. Capitalized development expenses in the balance sheet amounted to EUR 25 thousand as of December 31st, 2025 (2024: EUR 27 thousand). SHARES AND TRADING VOLUME On 31 December 2025, the company had 21,179,900 shares and 4,697 shareholders. On 31 December 2025, the market value of the company’s shares was EUR 22.7 million. The share closing price was EUR 1.07. The highest price in the review period was EUR 1.59, and the lowest price was EUR 1.03. The trading volume in January–December was 4,589,547 shares (3,569,704). On 31 December 2025, the company held 38,357 treasury shares (0.2% of total shares). Shareholding of the board members and management 31 December 2025 Shares Shares % Shareholdings of the board members 5 978 604 28,23% Helena Kauppinen 12 179 0,06% Mikko Kuitunen 47 349 0,22% Harri Sjöholm* 5 796 879 27,37% Kai Telanne 20 660 0,10% Markku Teräsvasara 62 272 0,29% Eeva-Liisa Virkkunen 39 265 0,19% Group CEO 20 000 0,09% Other management team members 25 000 0,12% Total 6 023 604 28,44% *27,06 % owned by Harri Sjöholm through Five Alliance Ltd Shareholdings by owner class (shares) 31 December 2025 Owners Owners % Votes Shares Shares % 1–100 1 431 30,47 61 255 61 255 0,29 101–500 1 393 29,66 391 451 391 451 1,85 501–1 000 657 13,99 542 604 542 604 2,56 1 001–5 000 890 18,95 2 097 924 2 097 924 9,91 5 001–10 000 175 3,73 1 304 924 1 304 924 6,16 10 001–50 000 120 2,56 2 633 206 2 633 206 12,43
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48 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS At the Annual General Meeting held on 8 April 2025, the Board of Directors was authorized to decide on the acquisition of a maximum of 2,117,990 shares of the company’s own shares and/or accepting the same number of the company’s own shares as a pledge, in one or several tranches by using funds in the unrestricted shareholders’ equity. The maximum number of shares to be repurchased and/or accepted as a pledge would correspond to 10% of all shares in the company. Robit’s shareholders who directly or indirectly hold at least 5% of the voting rights or the total number of shares in the Company are Five Alliance (27.06%), Varma Mutual Pension Insurance Company (9.66%), and Elo Mutual Pension Insurance Company (5.10%). Risks and Business Uncertainties Robit’s risks and uncertainties are related to possible changes in the company’s operating environment and global economic and polit- ical developments. The company’s opportunities to manage and prevent these risks varies. The development of the company’s net sales and profitability are affected by the development of general market demand, especially in the construction industry, as well as possible loss of customer relationships significant for the company. Other uncertainty factors include exchange rate development, the functioning of information systems, risks related to the security of supply and logistics, IPR risks as well as the price and availability of financing. Passing on the increase in raw material costs fully to customer prices may pose a financial risk. Changes in export countries’ tax and customs legislation may adversely impact the compa - ny’s export trade or its profitability. Risks related to information security and cyber threats may also have a detrimental effect on Robit’s business. Potential changes in the business environment may adversely impact the payment behaviour of the Group’s customers and increase the risk of litigation, legal claims and disputes related to Robit’s products and other operations. 11 50 001–100 000 16 0,34 1 127 812 1 127 812 5,33 1 00 001–500 000 9 0,19 1 895 502 1 895 502 8,95 500 001– 6 0,13 11 125 222 11 125 222 52,53 Total 4 697 100 21 179 900 21 179 900 100 In administrative registration 9 273 726 273 726 1,29 In waiting list 0 0 0 0 Shared accounts 0 0 0 0 On special purpose accounts total 0 0 0 0 Total shares 21 179 900 21 179 900 100 Shareholdings by type Shares Shares % Votes % Owners Households 8 026 504 37,90 37,90 4 444 Corporations 7 403 808 34,96 34,96 205 Public sector institutions 3 831 462 18,09 18,09 4 Financial and insurance institutions 1 605 024 7,58 7,58 15 Foreign countries 22 591 0,11 0,11 17 Non-profit institutions 16 785 0,08 0,08 3 Nominee registered 273 726 1,29 1,29 9 Total 21 179 900 100 100 4 697 At the Annual General Meeting held on 8 April 2025, the Board of Directors was authorized to decide on the acquisition of a maximum of 2,117,990 shares of the company’s own shares and/or accepting the same number of the company’s own shares as a pledge, in one or several tranches by using funds in the unrestricted shareholders’ equity. The maximum number of shares to be repurchased and/or accepted as a pledge would correspond to 10% of all shares in the company. Robit’s shareholders who directly or indirectly hold at least 5% of the voting rights or the total number of shares in the Company are Five Alliance (27.06%), Varma Mutual Pension Insurance Company (9.66%), and Elo Mutual Pension Insurance Company (5.10%). RISKS AND BUSINESS UNCERTAINTIES Robit’s risks and uncertainties are related to possible changes in the company’s operating environment and global economic and political developments. The company’s opportunities to manage and prevent these risks varies. The development of the company’s net sales and profitability are affected by the development of general market demand, especially in the construction industry, as well as possible loss of customer relationships significant for the company. Other uncertainty factors include exchange rate development, the functioning of information systems, risks related to the security of supply and logistics, IPR risks as well as the price and availability of financing. Passing on the increase in raw material costs fully to customer prices may pose a financial risk. Changes in export countries’ tax and customs legislation may adversely impact the company’s export trade or its profitability. Risks related to information security and cyber threats may also have a detrimental effect on Robit’s business. Potential changes in the business environment may adversely impact the payment behaviour of the Group’s customers and increase the risk of litigation, legal claims and disputes related to Robit’s products and othe r operations. CHANGES IN GROUP STRUCTURE The Group’s subsidiary, Robit Asia Ltd, Hong Kong, was dissolved on 14 March 2025. The company had no business operations during the financial year. 10 Robit is committed to improving material efficiency in its internal operations. Robit has set a target of over 90% of waste recycling in its operations. 90% 92% 86% KEY INTANGIBLE RESOURCES The test data collected from the company's products can be read as central intangible assets of the Robit Group, which are not recorded on the balance sheet. Together with customers, we test products that are suitable for their use for different purposes and soils, and the company uses the test results collected in product development and sales work. In addition to these, Robit actively trains its personnel and thus increases their skills, which Robit can utilize in its business. RESEARCH AND DEVELOPMENT Robit continues to invest in its own product development projects and in collective product development projects in the industry to secure competitive and innovative offering. Total costs relating to research and development recognized to the consolidated statement of comprehensive income were EUR 120 thousand in 2025 and EUR 149 thousand in 2024. Capitalized development expenses in the balance sheet amounted to EUR 25 thousand as of December 31st, 2025 (2024: EUR 27 thousand). SHARES AND TRADING VOLUME On 31 December 2025, the company had 21,179,900 shares and 4,697 shareholders. On 31 December 2025, the market value of the company’s shares was EUR 22.7 million. The share closing price was EUR 1.07. The highest price in the review period was EUR 1.59, and the lowest price was EUR 1.03. The trading volume in January–December was 4,589,547 shares (3,569,704). On 31 December 2025, the company held 38,357 treasury shares (0.2% of total shares). Shareholding of the board members and management 31 December 2025 Shares Shares % Shareholdings of the board members 5 978 604 28,23% Helena Kauppinen 12 179 0,06% Mikko Kuitunen 47 349 0,22% Harri Sjöholm* 5 796 879 27,37% Kai Telanne 20 660 0,10% Markku Teräsvasara 62 272 0,29% Eeva-Liisa Virkkunen 39 265 0,19% Group CEO 20 000 0,09% Other management team members 25 000 0,12% Total 6 023 604 28,44% *27,06 % owned by Harri Sjöholm through Five Alliance Ltd Shareholdings by owner class (shares) 31 December 2025 Owners Owners % Votes Shares Shares % 1–100 1 431 30,47 61 255 61 255 0,29 101–500 1 393 29,66 391 451 391 451 1,85 501–1 000 657 13,99 542 604 542 604 2,56 1 001–5 000 890 18,95 2 097 924 2 097 924 9,91 5 001–10 000 175 3,73 1 304 924 1 304 924 6,16 10 001–50 000 120 2,56 2 633 206 2 633 206 12,43
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49 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS Changes in Group Structure The Group’s subsidiary, Robit Asia Ltd, Hong Kong, was dissolved on 14 March 2025. The company had no business operations during the financial year. Other Events in October–December 2025 On 27 October 2025, Robit Plc issued a profit warning. The company estimated that net sales for 2025 will decrease compared to 2024. The company estimated that comparable EBIT profitability in EUR will decrease from 2024. On 28 October 2025, the company published the Interim Report for 1 January–30 September 2025. On 28 October 2025, Robit Plc published the company’s 2026 schedule for financial information and for the Annual General Meeting. On 1 December 2025, the company announced that the Chair of Robit Plc’s Board of Directors, Markku Teräsvasara resigned from the Board on 31 December 2025 and will not be available for the Board in 2026. The Board of Directors elected from amongst its members Harri Sjöholm, Vice Chair of Robit Plc’s Board, as Chair of the Board of Directors starting on 1 January 2026 until the 1 April 2026 Annual General Meeting. On 19 December 2025, Robit Plc announced the proposals of the Shareholders’ Nomination Committee to the 2026 Annual General Meeting. At its meeting on 22 December 2025, the company’s Board of Directors decided to transfer a total of 80,769 company shares to the members of the Board of Directors as Board remuneration on the basis of the Board’s 2025 term of office. The decision was based on the authorisation given by the Annual General Meeting on 8 April 2025. At the closing price effective on 16 December 2025 (EUR 1.04), the total value of the shares to be transferred was EUR 84,000. The share rewards were paid with the company’s treasury shares held by Robit Plc, which is why the total number of the company’s shares remained changed. Before the transfer, Robit Plc held 118,359 treasury shares, representing 0.6 per cent of the total number of the company’s shares. On 31 December 2025, Robit Plc transferred a total of 80,002 company shares as Board remuneration to the Board members on the basis of the Board’s 2025 term of office. After the transfer, Robit Plc held 38,357 treasury shares, corresponding to approximately 0.2 per cent of the total number of the company’s shares. Treatment of Result for the Financial Year The Board of Directors proposes to the General Meeting that the parent company’s profit for the financial year that ended on 31 December 2025, EUR 222,694.98, be transferred to retained earnings. Distribution of Funds to Shareholders The Board of Directors proposes to the Annual General Meeting that no dividend be paid for the 2025 financial year. Events After the Review Period On 13 January 2026, Robit Plc’s Board of Directors decided on a performance-based share reward scheme for 2026–2028 for the compa- ny’s key personnel. The scheme has three elements: the key person’s own investment in the company, reward shares by the company (stay matching) and performance-based additional share plan (performance matching). The performance-based additional share plan includes three one-year earning periods: the calendar years 2026, 2027 and 2028. No later than in January of the year in question, the Board of Directors will decide the targets for each year separately. The company’s stay matching shares and performance matching shares will be paid in April 2029. If the scheme criteria are satisfied in full and in accordance with the target setting determined by the company’s Board of Directors, a total of 337,500 shares will be paid on the basis of the share scheme, corresponding to 1.59 per cent of the company’s current share capital. The share-based incentive scheme covers a maximum of 15 individuals.
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50 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS Key Figures Summary and Definitions of Key Figures 13 KEY FIGURES SUMMARY AND DEFINITIONS OF KEY FIGURES 2025 2024 2023 2022 2021 Net sales, EUR 1 000 78 762 90 284 92 917 111 962 100 755 Net sales growth, % -12.8% -2.8% -17.0% 11.1% 10.0% EBITDA, EUR 1 000 5 169 6 430 5 172 8 851 7 595 EBITDA, % of sales 6.6% 7.1% 5.6% 7.9% 7.5% Adjusted EBITDA 5 467 6 430 5 004 8 851 7 595 Adjusted EBITDA, % of sales 6.9% 7.1% 5.4% 7.9% 7.5% EBITA, EUR 1 000 1 540 2 649 829 3 959 2 940 EBITA, % of sales 2.0% 2.9% 0.9% 3.5% 2.9% EBIT 1 395 2 502 116 3 071 2 080 EBIT, % of sales 1.8% 2.8% 0.1% 2.7% 2.1% Adjusted EBIT 1 693 2 502 -52 3 071 2 080 Adjusted EBIT, % of sales 2.1% 2.8% -0.1% 2.7% 2.1% Result of the period, EUR 1 000 -237 1 134 -3 019 628 886 Result of the period, % of sales -0.3% 1.3% -3.2% 0.6% 0.9% Earnings per share (EPS), EUR -0.01 0.05 -0.14 0.03 0.04 Return on equity (ROE), % -0.7% 2.4% -6.3% 1.1% 1.8% Return on capital employed (ROCE), % 2.7% 3.9% -0.4% 3.1% 2.5% Adjusted return on capital employed (ROCE), % 2.7% 3.9% -0.4% 3.1% 2.5% Net interest-bearing debt, EUR 1 000 15 041 18 621 21 331 30 260 31 996 Equity ratio, % 52.0% 50.7% 48.5% 46.5% 42.2% Equity per share, EUR 2.04 2.19 2.16 2.39 2.33 Net gearing, % 35.0% 40.3% 46.7% 59.5% 65.1% Gross investments, EUR 1 000 1 036 471 443 1 326 4 293 Gross investments, % of sales 1.3% 0.5% 0.5% 1.2% 4.3% Gross investments, excl. Acquisitions, E UR 1 000 1 036 471 443 1 326 4 293 R&D costs, EUR 1 000 120 149 124 223 436 R&D costs, % of sales 0.2% 0.2% 0.1% 0.2% 0.4% Average number of employees 218 225 243 268 267 Number of employees at the end of period 207 225 225 259 273 Dividend, EUR 0.0 0.0 0.0 0.02 0.0 Dividend of the result, % 0.0% 0.0% 0.0% 0.0% 0.0% Effective dividend yield 0.0% 0.0% 0.0% 0.0% 0.0% Price / earnings -96 26 -11 88 213 Share price at the end of period 1.07 1.30 1.51 2.63 4.03 Lowest 1.03 1.27 1.20 2.11 3.65 Highest 1.59 1.95 3.48 4.55 6.46 Market capitalisation, EUR million 22.6 27.5 32.0 55.7 85.4
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51 ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 IN BRIEF COMPANY BUSINESS SUSTAINABILITY INVESTORS REPORT OF THE BOARD FINANCIAL STATEMENTS Corporate Governance Statement and Remuneration Review Robit Corporate Governance Statement for 2025 is published as a separate statement on Robit’s website: https://www.robitgroup.com/investor/corporate-governance/corporate-governance-statement/ Robit Remuneration Report 2025 is published as a separate statement on Robit’s website: https://www.robitgroup.com/investor/corporate-governance/remuneration-statement/ Lempäälä, 17 February 2026 ROBIT PLC Board of Directors 14 EBITDA EBIT + Depreciation, amortization and impairment EBITA EBIT + Amortisation of customer relationships Net working capital Inventory + Accounts receivables and other receivables – Accounts payables and other liabilities Earnings per share (EPS), EUR Profit (loss) for the financial year Amount of shares adjusted with the share issue (average during the financial year) Return on equity (ROE), % Profit (loss) for the financial year x 100 Equity (average during the financial year) Return on capital employed (ROCE), % Profit before taxes + Interest expenses and other financing expenses x 100 Equity (average during the financial year) + Interest-bearing financial liabilities (long-term and short-term loans from financial institutions, average during the financial year) Net interest-bearing financial liabilities Long-term and short-term loans from financial institutions – Cash and cash equivalents – Short-term financial securities Equity ratio, % Equity x 100 Balance sheet total – Advances received Gearing, % Net interest-bearing financial liabilities x 100 Equity CORPORATE GOVERNANCE STATEMENT AND REMUNERATION REVIEW Robit Corporate Governance Statement for 202 5 is published as a separate statement on Robit’s website: https://www.robitgroup.com/investor/corporate-governance/corporate-governance-statement/ Robit Remuneration Report 2025 is published as a separate statement on Robit’s website: https://www.robitgroup.com/investor/corporate-governance/remuneration-statement/ Lempäälä, 17 February 2026 ROBIT PLC Board of Directors
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52 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 ROBIT PLC FINANCIAL STATEMENTS 1 Jan – 31 Dec 2025
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53 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Contents Consolidated statement of comprehensive income 54 Consolidated Balance Sheet 55 Consolidated statement of changes in equity 56 Consolidated statement of cash flows 57 1 About the consolidated financial statements 58 1.1 General information 58 1.2 Basis of preparation 58 1.3 Management judgement and sources of uncertainty 58 2 Robit’s performance 59 2.1 Net sales and segment information 59 2.2 Production’s materials and services 61 2.3 Employee benefits 61 2.4 Other operating income and expenses 64 2.5 Depreciation and amortization 65 3 Acquisitions and intangible assets 66 3.1 Goodwill & impairment testing 66 3.2 Other intangible assets 69 4 Capital structure and financing 71 4.1 Share capital and reserves 71 4.2 Earnings per share 73 4.3 Borrowings 73 4.4 Financial assets 76 4.5 Finance income and costs 79 4.6 Financial risk and capital management 80 4.7 Commitments and contingent liabilities 84 5 Operating assets and liabilities 85 5.1 Property, plant and equipment 85 5.2 Inventories 88 5.3 Account and other receivables 89 5.4 Account and other payables 90 5.5 Provisions 91 5.6 Advance payments received 91 6 Other notes 92 6.1 Subsidiaries and foreign currencies 92 6.2 Taxes 94 6.3 Related party transactions 97 6.4 Subsequent events 99 6.5 New and amended standards adopted by the group 99 6.6 New standards not yet adopted 99 Parent Company Financial Statements 100 Notes to the Financial Statements 104 Auditor’s report 115 Definitions of key Financial Figures 120 This Financial Statements and Board of Directors’ review 2025 have not been prepared in accordance with ESEF (European Single Electronic Format) regulations. The Financial Statements and Board of Directors’ review 2023 in accordance with ESEF regulations are available electronically as an xHTML document in which the primary statements in the Financial Statements are marked with XBRL tags. The ESEF requirement is based on the harmonization of transparency requirements for listed companies pursuant to the Transparency Directive (2004/109/EC) and its amending Directive (2013/50/EU), as well as the European Commission Delegation Regulation (2019/815/EU). In Finland, the directive has been implemented in the Securities Markets Act (AML 7:5§). The Financial Statements and Board of Directors’ review 2025 in accordance with ESEF regulations are available at www.robitgroup.com.
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54 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Consolidated Statement of Comprehensive Income The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes. 3 CCoonnssoolliiddaatteedd ssttaatteemmeenntt ooff ccoommpprreehheennssiivvee iinnccoommee EEUURR tthhoouussaanndd NNoottee 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 NNeett ssaalleess 22..11 7788 776622 9900 228844 Other operating income 2.4 2 433 1 629 Materials and services 2.2 -49 634 -59 963 Personnel expenses 2.3 -13 083 -14 058 Depreciation and Amortization 2.5 -3 774 -3 928 Impairment 5.3 12 -414 Other operating expenses 2.4 -13 321 -11 048 EEBBIITT ((OOppeerraattiinngg pprrooffiitt)) 11 339955 22 550022 Finance income and costs Finance income 4.5 525 453 Finance cost 4.5 -1 831 -1 920 Finance income and costs net -1 306 -1 466 PPrrooffiitt bbeeffoorree iinnccoommee ttaaxx 8899 11 003366 Income taxes Current taxes -472 -156 Change in deferred taxes 147 254 Income taxes 6.2 -326 98 RReessuulltt ffoorr tthhee ppeerriioodd --223377 11 113344 Attributable to: Owners of the parent -304 1 099 Non-controlling interest 67 35 --223377 11 113344 OOtthheerr ccoommpprreehheennssiivvee iinnccoommee Items that may be reclassified to profit or loss in subsequent periods: Cash flow hedges 4.4 -165 -233 Translation differences -2 825 -183 OOtthheerr ccoommpprreehheennssiivvee iinnccoommee,, nneett ooff ttaaxx --22 999900 --441166 TToottaall ccoommpprreehheennssiivvee iinnccoommee --33 222277 771177 Attributable to: Owners of the parent -3 320 675 Non-controlling interest 93 43 --33 222277 771177 EEaarrnniinnggss ppeerr sshhaarree aattttrriibbuuttaabbllee ttoo tthhee oowwnneerrss ooff tthhee ppaarreenntt dduurriinngg tthhee yyeeaarr:: Basic and diluted earnings per share 4.2 -0,01 0,05 The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.
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55 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Consolidated Balance Sheet 4 CCoonnssoolliiddaatteedd bbaallaannccee sshheeeett EEUURR tthhoouussaanndd NNoottee 3311--DDeecc--2255 3311--DDeecc--2244 AASSSSEETTSS NNoonn--ccuurrrreenntt aasssseettss Goodwill 3.1 5 287 5 559 Other intangible assets 3.2 520 717 Property, plant and equipment 5.1 13 204 15 757 Loan receivables 4.4 63 79 Derivatives 4.4 71 278 Deferred tax assets 6.2 1 598 1 555 TToottaall nnoonn--ccuurrrreenntt aasssseettss 2200 774444 2233 994466 CCuurrrreenntt aasssseettss Inventories 5.2 37 786 40 232 Accounts receivables and other receivables 4.4, 5.3 14 604 17 814 Loan receivables 4.4 66 120 Income tax receivable of the financial year 6.2 229 155 Cash and cash equivalents 4.4 9 515 9 040 TToottaall ccuurrrreenntt aasssseett 6622 220000 6677 336622 TToottaall aasssseettss 8822 994444 9911 330077 EEUURR tthhoouussaanndd NNoottee 3311--DDeecc--2255 3311--DDeecc--2244 EEQQUUIITTYY AANNDD LLIIAABBIILLIITTIIEESS EEqquuiittyy aattttrriibbuuttaabbllee ttoo oowwnneerrss ooff tthhee ppaarreenntt Share capital 4.1 705 705 Share premium 4.1 202 202 Reserve for invested unrestricted equity 4.1 82 147 82 147 Cumulative translation difference 4.1 -6 144 -3 294 Fair value reserve 4.1 57 222 Retained earnings 4.1 -34 057 -35 214 Profit/loss for the year 4.1 -304 1 099 EEqquuiittyy aattttrriibbuuttaabbllee ttoo ppaarreenntt ccoommppaannyy sshhaarreehhoollddeerrss iinn ttoottaall 4422 660066 4455 886677 Non-controlling interest 407 341 TToottaall eeqquuiittyy 4433 001122 4466 220088 LLiiaabbiilliittiieess NNoonn--ccuurrrreenntt lliiaabbiilliittiieess Borrowings 4.3 16 039 18 439 Lease liabilities 4.3 1 820 2 746 Deferred tax liabilities 6.2 163 222 Employee benefit obligations 2.3 88 139 TToottaall nnoonn--ccuurrrreenntt lliiaabbiilliittiieess 1188 111100 2211 554455 CCuurrrreenntt lliiaabbiilliittiieess Borrowings 4.3 5 121 5 182 Lease liabilities 4.3 1 576 1 294 Advances received 5.6 206 121 Income tax liabilities 6.2 6 106 Account payables and other liabilities 5.4 14 880 16 818 Provisions 5.5 33 33 TToottaall ccuurrrreenntt lliiaabbiilliittiieess 2211 882222 2233 555544 TToottaall lliiaabbiilliittiieess 3399 993322 4455 009999 TToottaall eeqquuiittyy aanndd lliiaabbiilliittiieess 8822 994444 9911 330077
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56 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Consolidated Statement of Changes in Equity The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. 5 CCoonnssoolliiddaatteedd ssttaatteemmeenntt ooff cchhaannggeess iinn eeqquuiittyy A= Share capital B = Share premium C = Reserve for invested unrestricted equity D = Cumulative translation difference E = Fair value reserve F = Retained earnings G = Equity attributable to parent company shareholders H = Non-controlling interest I = Total equity EEUURR TThhoouussaanndd AA BB CC DD EE FF GG HH II EEqquuiittyy oonn 11 JJaannuuaarryy 22002244 770055 220022 8822 114477 --33 110033 445555 --3355 110022 4455 330044 332255 4455 662299 Profit for the period 1 099 11 009999 35 1 134 Other comprehensive income Cash flow hedges -233 --223333 -233 Translation difference -191 --119911 8 -183 TToottaall ccoommpprreehheennssiivvee cchhaannggeess --119911 --223333 11 009999 667755 4433 771177 Share based payments to employees 20 2200 20 Acquisition of own shares -218 --221188 -218 Use of treasury shares in the remuneration of the Board of Directors 87 8877 87 Dividend distribution 00 -27 -27 TToottaall ttrraannssaaccttiioonnss wwiitthh sshhaarreehhoollddeerrss,, rreeccooggnniisseedd ddiirreeccttllyy iinn eeqquuiittyy --111111 --111111 --2277 --113388 EEqquuiittyy oonn 3311 DDeecceemmbbeerr 22002244 770055 220022 8822 114477 --33 229944 222222 --3344 111155 4455 886677 334411 4466 220088 EEUURR TThhoouussaanndd AA BB CC DD EE FF GG HH II EEqquuiittyy oonn 11 JJaannuuaarryy 22002255 770055 220022 8822 114477 --33 229944 222222 --3344 111155 4455 886677 334411 4466 220088 Profit for the period -304 --330044 67 -237 Other comprehensive income Cash flow hedges -165 --116655 -165 Translation differences -2 850 --22 885500 26 -2 825 TToottaall ccoommpprreehheennssiivvee cchhaannggeess --22 885500 --116655 --330044 --33 332200 9933 --33 222277 Share based payments to employees -24 --2244 -24 Use of treasury shares in the remuneration of the Board of Directors 83 8833 83 Dividend distribution 00 -27 -27 TToottaall ttrraannssaaccttiioonnss wwiitthh sshhaarreehhoollddeerrss,, rreeccooggnniisseedd ddiirreeccttllyy iinn eeqquuiittyy 5599 5599 --2277 3322 EEqquuiittyy oonn 3311 DDeecceemmbbeerr 22002255 770055 220022 8822 114477 --66 114444 5577 --3344 336611 4422 660066 440077 4433 001122 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.
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57 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Consolidated Statement of Cash Flows The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. 6 CCoonnssoolliiddaatteedd ssttaatteemmeenntt ooff ccaasshh fflloowwss EEUURR tthhoouussaanndd NNoottee 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 CCaasshh fflloowwss ffrroomm ooppeerraattiinngg aaccttiivviittiieess Profit/loss before income tax 89 1 036 Adjustments Depreciation, amortization, and impairment charges 2.5 3 775 3 928 Finance income and finance costs 4.5 1 306 1 466 Share-based payments to employees 83 107 Loss (+) / gain (-) on sale of property, plant, and equipment 2.4 28 141 Other non-cash transactions 698 -425 Cash flows before changes in working capital 5 980 6 254 Change in working capital Increase (-) / decrease (+) in account and other receivables 1 485 -1 315 Increase (-) / decrease (+) in inventories 30 -4 071 Increase (+) / decrease (-) in account and other payables -255 2 168 Cash flows from operating activities before financial items and taxes 7 240 3 035 Interest and other finance expenses paid -1 103 -1 694 Interest and other finance income received 122 183 Income taxes paid -337 -7 NNeett ccaasshh iinnffllooww ((oouuttffllooww)) ffrroomm ooppeerraattiinngg aaccttiivviittiieess 55 992211 11 551177 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess Other financial assets increase (-) / decrease (+) 0 1 628 Purchases of property, plant, and equipment 5.1 -961 -431 Purchases of intangible assets 3.2 -75 -39 Proceeds from the sale of property, plant, and equipment 5.1, 2.4 -28 155 Proceeds from loan receivables 4.4 66 139 NNeett ccaasshh iinnffllooww ((oouuttffllooww)) ffrroomm iinnvveessttiinngg aaccttiivviittiieess --999988 11 445511 CCaasshh fflloowwss ffrroomm ffiinnaanncciinngg aaccttiivviittiieess Dividend payment -26 -27 Acquisition of own shares 0 -218 Proceeds from loans 4.3 19 500 0 Repayment of loans 4.3 -21 992 -3 405 Change in bank overdraft 4.3 -105 105 Payment of lease liabilities 4.3 -1 532 -1 668 NNeett ccaasshh iinnffllooww ((oouuttffllooww)) ffrroomm ffiinnaanncciinngg aaccttiivviittiieess --44 115555 --55 221133 NNeett iinnccrreeaassee ((++)) // ddeeccrreeaassee ((--)) iinn ccaasshh aanndd ccaasshh eeqquuiivvaalleennttss 768 -2 245 Cash and cash equivalents at the beginning of the financial year 4.4 9 040 11 201 Exchange gains/losses on cash and cash equivalents -293 85 CCaasshh aanndd ccaasshh eeqquuiivvaalleennttss aatt eenndd ooff tthhee yyeeaarr 4.4 99 551155 99 004400 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes.
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58 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 1 About the Consolidated Financial Statements 1.1 General Information These are the consolidated financial statements of Robit Plc (the “Company”) and its subsidiaries (together referred as “Robit” , or the “Group”). Robit is a Finnish Group that sells and services drilling consumables for global customers for applications in the tunnelling, geothermal heating and cooling, construction, and mining industries. Robit has 7 offices and active sales networks in over 100 countries. Robit has production units in Finland, South Korea, and UK. Robit Corporation is a publicly listed company and its shares are listed on the NASDAQ OMX Helsinki Ltd main list with trading code ROBIT. Robit Plc, the parent company of Robit is a Finnish public limited liability company. The registered address of Robit Plc is Vikkiniityntie 9, FI-33880 Lempäälä, Finland. Copies of the consolidated financial statements are available at the head office at Robit Oyj and at Robit’s home pages www.robitgroup.com. The Board of Directors of Robit Plc has approved these consolidated financial statements for issue on February 17th, 2026. Under the Finnish Limited Liability Companies Act, shareholders can approve or disapprove the consolidated financial statements in the Annual General Meeting held after the release. The Annual General Meeting is also entitled to amend the consolidated financial statements. 1.2 Basis of Preparation The consolidated financial statements of Robit have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, conforming with the International Accounting Standards (IAS) and IFRS standards as well as SIC and IFRIC interpretations applicable as per 31 December 2025. The notes to the consolidated financial statements also comply with the Finnish accounting and corporate legislation complementing the IFRS accounting standards. The consolidated financial statements of Robit have been prepared on a historical cost basis, except for the derivative financial instru - ments, that are measured at fair value through profit or loss in other comprehensive income. The Group has no assets or liabilities meas- ured at fair value whose fair values would be material to the financial statements, and therefore, no fair value hierarchy classification is presented. Financial statements are presented in thousands of euros. The figures presented in the financial statements are rounded and therefore the sum of individual figures may differ from the presented sum figure. Items included in the financial statements of each of the Group’s subsidiaries are measured using the currency of the primary economic environment in which the subsidiary operates (‘the functional currency’). The Company’s functional currency is euro, which is also the presentation currency of Robit’s consolidated financial statements. Parent company Robit Plc financial statements have been prepared according to Finnish Accounting Standards (FAS). 1.3 Management Judgement and Sources of Uncertainty The preparation of financial statements requires the use of estimates and assumptions that may affect the recognized amounts of assets and liabilities at the date of the financial statements. In addition, the recognized amounts of net sales and expenses during the periods presented are affected. Actual results may differ from previously made estimates.
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59 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 How Should Robit’s Financial Statements Be Read? Robit has focused in its financial statements on the information, which it considers to be relevant to the stakeholders and other users of financial statements. The notes to the consolidated financial statements include six sections: About the consolidated financial statements, Robit’s performance, Goodwill and other intangible assets, Capital structure and financing, Operating assets and liabilities and Other Notes. Each part includes related significant accounting principles. This presentation aims at providing the reader a clear understanding of the Group’s financial position and performance as well as selected accounting policies. 2 Robit’s Performance 2.1 Net sales and Segment Information Accounting Policies Product sales Robit enters into contracts with customers to supply its products, such as drill bits and casing systems. In general, these products are standardised and require only limited specifications provided by customers. Robit is responsible for the purchase or production of the products and in some cases also for their delivery. The performance obligation ends when the goods have been delivered to the customer. If the performance obligation ends based on terms of delivery only when the customer has received the goods, sales revenue is recognised at the time of receipt. The time of recognition of sales is specified by terms and conditions in the sales contract, such as based on terms of delivery or the customer’s acceptance procedure. Longer-term supply contracts covering individual purchase orders are also entered into with customers, for example for the supply of consumables for mines or projects. The performance obligations associated with these longer-term contracts are recognised based on terms of delivery at the time of delivery and are not partially recognised, for example based on the degree of completion of the projects over time, because Robit’s products are consumables in nature. Some of these contracts involve consignment stocks. Return or repayment obligations are generally not associated with supply contracts. Robit is responsible for ensuring that the products meet the customer’s order in terms of tech- nical specifications and also Robit’s own quality standards at the time of delivery. If a technical or qualitative problem due to Robit is identified in a product, Robit is obliged to supply to customer with replacement products. These obli - gations are assessed for each contract in turn, and a separate warranty provision is recognised for them (presented in Note 5.5). Because the products are consumables in nature, no long-term warranty obligations that could be payable in future financial years are associated with the products. The management’s assumptions and estimates can be found in the following notes: 8 11..33 MMaannaaggeemmeenntt jjuuddggeemmeenntt aanndd ssoouurrcceess ooff uunncceerrttaaiinnttyy The preparation of financial statements requires the use of estimates and assumptions that may affect the recognized amounts of assets and liabilities at the date of the financial statements. In addition, the recognized amounts of net sales and expenses during the periods presented are affected. Actual results may differ from previously made estimates. The management’s assumptions and estimates can be found in the following notes: HHooww sshhoouulldd RRoobbiitt’’ss ffiinnaanncciiaall ssttaatteemmeennttss bbee rreeaadd?? Robit has focused in its financial statements on the information, which it considers to be relevant to the stakeholders and other users of financial statements. The notes to the consolidated financial statements include six sections: About the consolidated financial statements, Robit’s performance, Goodwill and other i ntangible assets, Capital structure and financing, Operating assets and liabilities and Other Notes. Each part includes related significant accounting principles. This presentation aims at providing the reader a clear understanding of the Group’s financial position and performance as well as selected accounting policies. KKeeyy jjuuddggeemmeennttss aanndd eessttiimmaatteess NNoottee Goodwill impairment testing 3.1. Other intangible assets (capitalized development expenses) 3.2. Right-of-use assets (IFRS 16) 5.1. Inventory valuation 5.2. Deferred tax assets and liabilities 6.2. Overdue receivables 4.6.
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60 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Some customer contracts may contain a variable discount component that allows the customer to receive a quantity discount if the quantities of the original delivery contract are exceeded. In these cases, the realisation of the quantity discount is estimated for each contract in turn and deducted for sales revenue based on the most probable value. The significance of such contracts for the recognition of Robit’s sales revenue is currently very minor, however. For these reasons, no significant judgmental decisions are made in the recognition of sales revenue. Terms of payment and payment periods vary from customer to customer. The applied terms of payment and length of payment period granted to the customer are influenced by, among other things, the geographical location of the customer and the production plant and their distance from each other. In addition, the customer’s terms of payment are influenced by the customer-specific credit risk, which is assessed based on the customer’s geographical location, the customer’s finan- cial situation and the customer’s previous payment behaviour. Typically, credit terms of payment are used with customers in cases where the performance obligation ends before payment is received from the customer. Cash discounts are gener- ally not used but, if they are used, the cash discounts given are deducted from net sales. With some customers, an advance payment principle is applied, and the advance payments received from customers are entered in the balance sheet (disclosed in Note 5.6). Significant credit components are generally not associated with sales transactions. Sales of products with after-sales support Robit enters into service agreements with customers that include services such as technical support or training in addi- tion to supplying the products. These services bring added value for the client and they are not part of the integration of products that takes place at the customer. The agreements therefore typically include more performance obliga - tions, service and products sold. Selling prices are allocated to different performance obligations relative to their separate selling prices. Possible discounts are allocated proportionately to all performance obligations. Product sales revenue is recorded at a specific time (see above), whereas sales revenue for services is recognised over time as the customer simultaneously receives and consumes the services provided by Robit. The degree of fulfilment of a performance obligation relative to sales is measured using the output-based method, whereby the degree of fulfilment is measured based on the service provided to date. Net sales by business unit Net sales from external customers broken down by strategic business units is shown on the table below. None of the Robit’s customer generated more than 10 per cent of the Group’s revenue for the year ended 31 December 2025 or 2024. Net sales by market area Net sales from external customers broken down by location of the customers is shown on the table below. *Includes EUR 11 263 thousand of revenue from Finland, which is the entity’s domicile (2024: EUR 11 152 thousand). 10 Net sales by business unit Net sales from external customers broken down by strategic business units is shown on the table below. NNeett ssaalleess bbyy pprroodduucctt aarreeaa EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Top Hammer 51 504 57 104 Down the Hole 11 195 14 792 Geotechnical 16 062 18 387 TToottaall 7788 776622 9900 228844 Net sales by market area Net sales from external customers broken down by location of the customers is shown on the table below. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 EMEA 43 837 47 196 Americas 18 141 19 147 Asia 8 290 9 003 Australasia 8 494 14 938 TToottaall 7788 776622 9900 228844 *Includes EUR 11 263 thousand of revenue from Finland, which is the entity’s domicile (2024: EUR 11 152 thousand). None of the Robit’s customer generated more than 10 per cent of the Group’s revenue for the year ended 31 December 2025 or 2024. Segment information The chief operating decision-maker has been identified as Robit's board of directors. The board of directors is responsible for strategy, appointing key management positions, significant development projects, business combinations, investments, organization structure and financing. A global skilled sales and distributor organizations recognizing customer needs and requirements in addition to high quality manufacturing based on local subcontractors and global sourcing function are cornerstones of Robit’s operations. In accordance with its strategy, Robit is primarily a sales company on global markets. Robit’s sales organization is divided into geographical regions (EMEA, America s, Asia, and Australasia). Three manufacturing units located in Finland, South Korea, and UK, are common resources for business operations, as well as an assembly station in Australia. These manufacturing units serve the entire sales organization bus concentrating to manufacture certain type or certain size of products. In order to manage the efficiency of the resources, the business is divided into three operating segments, i.e., strategic business units (SBU): Top Hammer, Down the Hole, and Geotechnical. The SBU’s are structured around the different drilling technologies but they have substantial synergies in sales, manufacturing, and sourcing. In the operating segments of Robit, similar characteristics are to be found to a significant extent. In its reporting, Robit combines all operational segments into one segment based on similar financial characteristics and similar qualitative capacities. In terms of the economic characteristics, the key figures of all operating segments follow industry changes in the same way and react to general economic changes in the same way. Similarly, the competitive risks, operational risks, currency risks and economic and political environment of all operating segments are identical. 10 Net sales by business unit Net sales from external customers broken down by strategic business units is shown on the table below. NNeett ssaalleess bbyy pprroodduucctt aarreeaa EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Top Hammer 51 504 57 104 Down the Hole 11 195 14 792 Geotechnical 16 062 18 387 TToottaall 7788 776622 9900 228844 Net sales by market area Net sales from external customers broken down by location of the customers is shown on the table below. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 EMEA 43 837 47 196 Americas 18 141 19 147 Asia 8 290 9 003 Australasia 8 494 14 938 TToottaall 7788 776622 9900 228844 *Includes EUR 11 263 thousand of revenue from Finland, which is the entity’s domicile (2024: EUR 11 152 thousand). None of the Robit’s customer generated more than 10 per cent of the Group’s revenue for the year ended 31 December 2025 or 2024. Segment information The chief operating decision-maker has been identified as Robit's board of directors. The board of directors is responsible for strategy, appointing key management positions, significant development projects, business combinations, investments, organization structure and financing. A global skilled sales and distributor organizations recognizing customer needs and requirements in addition to high quality manufacturing based on local subcontractors and global sourcing function are cornerstones of Robit’s operations. In accordance with its strategy, Robit is primarily a sales company on global markets. Robit’s sales organization is divided into geographical regions (EMEA, America s, Asia, and Australasia). Three manufacturing units located in Finland, South Korea, and UK, are common resources for business operations, as well as an assembly station in Australia. These manufacturing units serve the entire sales organization bus concentrating to manufacture certain type or certain size of products. In order to manage the efficiency of the resources, the business is divided into three operating segments, i.e., strategic business units (SBU): Top Hammer, Down the Hole, and Geotechnical. The SBU’s are structured around the different drilling technologies but they have substantial synergies in sales, manufacturing, and sourcing. In the operating segments of Robit, similar characteristics are to be found to a significant extent. In its reporting, Robit combines all operational segments into one segment based on similar financial characteristics and similar qualitative capacities. In terms of the economic characteristics, the key figures of all operating segments follow industry changes in the same way and react to general economic changes in the same way. Similarly, the competitive risks, operational risks, currency risks and economic and political environment of all operating segments are identical.
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61 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Segment information The chief operating decision-maker has been identified as Robit's board of directors. The board of directors is responsible for strategy, appointing key management positions, significant development projects, business combinations, investments, organization structure and financing. A global skilled sales and distributor organizations recognizing customer needs and requirements in addition to high quality manufac - turing based on local subcontractors and global sourcing function are cornerstones of Robit’s operations. In accordance with its strategy, Robit is primarily a sales company on global markets. Robit’s sales organization is divided into geographical regions (EMEA, Americas, Asia, and Australasia). Three manufacturing units located in Finland, South Korea, and UK, are common resources for business operations, as well as an assembly station in Australia. These manu- facturing units serve the entire sales organization bus concentrating to manufacture certain type or certain size of products. In order to manage the efficiency of the resources, the business is divided into three operating segments, i.e., strategic business units (SBU): Top Hammer, Down the Hole, and Geotechnical. The SBU’s are structured around the different drilling technologies but they have substantial synergies in sales, manufacturing, and sourcing. In the operating segments of Robit, similar characteristics are to be found to a significant extent. In its reporting, Robit combines all oper- ational segments into one segment based on similar financial characteristics and similar qualitative capacities. In terms of the economic characteristics, the key figures of all operating segments follow industry changes in the same way and react to general economic changes in the same way. Similarly, the competitive risks, operational risks, currency risks and economic and political environment of all operating segments are identical. 2.2 Production’s Materials and Services Materials and services recognized as an expense during the financial year that ended 31 December 2025 amounted to EUR 49 634 thou- sand (2024: EUR 59 963 thousand). Materials and services include purchases of raw materials such as steel, tungsten carbide, trading products, and subcontracting services related to inventories, and changes in inventories. 2.3 Employee Benefits Accounting Policies Short-term benefits Short-term employee benefits include wages and salaries, including non-monetary benefits and annual leave compen- sations expected to be settled within 12 months of the reporting date. Short-term benefits are recognized in other payables in respect of employees’ services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled. Post-employment benefits Robit’s pension plans are defined contribution plans. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity with no legal or constructive obligations to pay further contri - 11 AAccccoouunnttiinngg ppoolliicciieess Short-term benefits Short-term employee benefits include wages and salaries, including non-monetary benefits and annual leave compensations expected to be settled within 12 months of the reporting date. Short-term benefits are recognized in other payables in respect of employees’ services up to the reporting date and are measured at the amounts expected to be paid when the liabilities are settled. Post-employment benefits Robit’s pension plans are defined contribution plans. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity with no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to the defined contribution plans are charged directly to the statement of comprehensive income in the year to which these contributions relate. Other long-term benefits Other long-term employee benefits are long-service leave or sabbatical leave, jubilee or other long-service benefits and long- term disability benefits. Robit has other long-term employee benefits plans in Australia (long-service leave) and in Korea (severance payment). Robit key employees are obliged to take part into a long-term incentive plan based on initial investment to Robit shares. The expense is accrued to the period, on which the employee can utilize the benefit. Termination benefits Termination benefits are payable when employment is ter minated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. 22..22 PPrroodduuccttiioonn’’ss mmaatteerriiaallss aanndd sseerrvviicceess Materials and services recognized as an expense during the financial year that ended 31 December 2025 amounted to EUR 49 634 thousand (2024: EUR 59 963 thousand). Materials and services include purchases of raw materials such as steel, tungsten carbide, trading products, and subcontracting services related to inventories, and changes in inventories. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Subcontracts -156 -203 External services -2 989 -3 805 Purchase freights -962 -2 824 Sales provisions and Royalties -248 -273 Maintenance expenses -468 -560 Cost of sales -44 812 -52 297 TToottaall --4499 663344 --5599 996633 22..33 EEmmppllooyyeeee bbeenneeffiittss
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62 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 butions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to the defined contribution plans are charged directly to the statement of comprehensive income in the year to which these contributions relate. Other long-term benefits Other long-term employee benefits are long-service leave or sabbatical leave, jubilee or other long-service benefits and long-term disability benefits. Robit has other long-term employee benefits plans in Australia (long-service leave) and in Korea (severance payment). Robit key employees are obliged to take part into a long-term incentive plan based on initial investment to Robit shares. The expense is accrued to the period, on which the employee can utilize the benefit. Termination benefits Termination benefits are payable when employment is ter¬minated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. Robit’s number of personnel decreased in 2025 compared to 2024, with the total number of personnel being 207 at the end of the period under review (2024: 225). Robit’s average number of personnel was 218 persons during the financial period 2025 and 226 in 2024. Robit has both defined contribution plans and defined benefit plans. All pension plans are defined contribution plans. In Australia, the employees are entitled to be paid long-service leave after 10 years of service in the same business. This arrangement is defined as other long-term employee benefit and thus defined benefit plan. Expenses related to long-service leave amounted to EUR 15 thousand for the financial period 2025 (2024: EUR 25 thousand). The liability related to long-service fee amounted to EUR 31 thousand as of 31 December 2025 (2024: EUR 63 thousand). In Korea, Robit has severance payment plan, where employees earn the benefit based on their service and the whole benefit is paid to an employee when an employment ends. During the financial year 2021, this arrangement changed from a benefit-based arrangement to a contribution-based arrangement. Expenses related to severance payment plan amounted to EUR 159 thousand for the financial period 2025 (2024: EUR 192 thousand). The employee benefit obligation recognized for severance payment plan amounted to EUR 30 thousand as of 31 December 2025 (2024: EUR 22 thousand). Long-Term Remuneration: Share-Based Incentive Plan Share-based incentive scheme 2022–2024 On 15 February 2022, Robit Plc’s Board of Directors decided on a performance-based share reward scheme for key personnel. On 24 March 2022, Robit Plc’s Board of Directors decided to raise the upper limit of the share reward scheme due to the CEO change. The share scheme includes earning periods of one and two years. The first earning period of the share scheme comprises the year 2022 and the second earning period comprises the years 2023–2024. The share scheme’s potential reward for the one-year earning period 2022 is based on the company’s predetermined EBITDA target in the financial statements for 2022. The share scheme’s possible reward for the two-year earning period 2023–2024 is based on the company’s predetermined average earnings per share in the financial state- 12 EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Wages and salaries -10 484 -11 312 Social security expenses -1 157 -1 184 Pension costs - defined contribution plans -625 -573 Share-based payments -59 -107 Other long-term benefits -189 -265 Other employee benefit expenses -569 -617 TToottaall --1133 008833 --1144 005588 Robit’s number of personnel decreased in 2025 compared to 2024, with the total number of personnel being 207 at the end of the period under review (2024: 225). Robit’s average number of personnel was 218 persons during the financial period 2025 and 226 in 2024. Robit has both defined contribution plans and defined benefit plans. All pension plans are defined contribution plans. In Australia, the employees are entitled to be paid long-service leave after 10 years of service in the same business. This arrangement is defined as other long-term employee benefit and thus defined benefit plan. Expenses related to long-service leave amounted to EUR 15 thousand for the financial period 2025 (2024: EUR 25 thousand). The liability related to long - service fee amounted to EUR 31 thousand as of 31 December 2025 (2024: EUR 63 thousand). In Korea, Robit has severance payment plan, where employees earn the benefit based on their service and the whole benefit is paid to an employee when an employment ends. During the financial year 2021, this arrangement changed from a benefit- based arrangement to a contribution-based arrangement. Expenses related to severance payment plan amounted to EUR 159 thousand for the financial period 2025 (2024: EUR 192 thousand). The employee benefit obligation recognized for severance payment plan amounted to EUR 30 thousand as of 31 December 2025 (2024: EUR 22 thousand). LLoonngg--tteerrmm rreemmuunneerraattiioonn:: sshhaarree--bbaasseedd iinncceennttiivvee ppllaann Share-based incentive scheme 2022–2024 On 15 February 2022, Robit Plc’s Board of Directors decided on a performance -based share reward scheme for key personnel. On 24 March 2022, Robit Plc’s Board of Directors decided to raise the upper limit of the share reward scheme due to the CEO change. The share scheme includes earning periods of one and two years. The first earning period of the share scheme comprises the year 2022 and the second earning period comprises the years 2023–2024. The share scheme’s potential reward for the one-year earning period 2022 is based on the company’s predetermined EBITDA target in the financial statements for 2022. The share scheme’s possible reward for the two-year earning period 2023–2024 is based on the company’s predetermined average earnings per share in the fi nancial statements for the years 2023 and 2024. The share scheme’s reward for both earning periods was paid in May 2025 as a cash remuneration equivalent to the number of shares. Share-based incentive scheme 2023–2025 On 20 February 2023 , Robit Plc’s Board of Directors decided on a performance -based share reward scheme for key personnel. On 24 March 2022, Robit Plc’s Board of Directors decided to raise the upper limit of the share reward scheme due to the CEO change. The share scheme includes earning periods of one and two years. The first earning period of the share scheme comprises the year 2023 and the second earning period comprises the years 2024–2025. The share scheme’s reward for the one-year earning period 2023 is divided to a warranty component and a performance-based component. The warranty component is 50 % of the participant’s base allocation. The share scheme’s possible reward for the two-year earning period 2024–2025
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63 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 ments for the years 2023 and 2024. The share scheme’s reward for both earning periods was paid in May 2025 as a cash remuneration equivalent to the number of shares. Share-based incentive scheme 2023–2025 On 20 February 2023, Robit Plc’s Board of Directors decided on a performance-based share reward scheme for key personnel. On 24 March 2022, Robit Plc’s Board of Directors decided to raise the upper limit of the share reward scheme due to the CEO change. The share scheme includes earning periods of one and two years. The first earning period of the share scheme comprises the year 2023 and the second earning period comprises the years 2024–2025. The share scheme’s reward for the one-year earning period 2023 is divided to a warranty component and a performance-based component. The warranty component is 50 % of the participant’s base allocation. The share scheme’s possible reward for the two-year earning period 2024–2025 is based on the company’s predetermined average earnings per share in the financial statements for the years 2024 and 2025. The share scheme’s possible reward for both earning periods will be paid in May 2026. The share scheme covers 17 individuals. The total amount of share rewards payable on the basis of the earning periods 2023 and 2024– 2025 corresponds to a maximum of 240,000 Robit Plc shares, corresponding to 1.1% of the company’s current share capital. Share-based incentive scheme 2025–2027 On 25 June 2024, Robit’s Board of Directors decided on a share-based incentive scheme for the Group’s key personnel. The share scheme has three elements: key personnel’s personal investment in the company (base share plan), incentive for the company’s additional shares (matching share plan) and performance-based additional share plan (performance matching plan), which is always based on a one-year performance period, the objectives of which are determined by the company's Board of Directors in January of that year. The share-based incentive scheme covers 12 individuals. The company’s matching shares and performance matching shares will be paid in April 2028. The total amount of share rewards corresponds to a maximum of 303,750 shares, which corresponds to 1.4 per cent of the company’s current share capital. 13 is based on the company’s predetermined average earnings per share in the financial statements for the years 2024 and 2025. The share scheme’s possible reward for both earning periods will be paid in May 2026. The share scheme covers 17 individuals. The total amount of share rewards payable on the basis of the earning periods 2023 and 2024–2025 corresponds to a maximum of 240,000 Robit Plc shares, corresponding to 1.1% of the company’s current share capital. Share-based incentive scheme 2025–2027 On 25 June 2024, Robit’s Board of Directors decided on a share-based incentive scheme for the Group’s key personnel. The share scheme has three elements: key personnel’s personal investment in the company (base share plan), incentive for the company’s additional shares (matching share plan) and performance-based additional share plan (performance matching plan), which is always based on a one-year performance period, the objectives of which are determined by the company's Board of Directors in January of that year. The share-based incentive scheme covers 12 individuals. The company’s matching shares and performance matching shares will be paid in April 2028. The total amount of share rewards corresponds to a maximum of 303,750 shares, which corresponds to 1.4 per cent of the company’s current share capital. IInnssttrruummeenntt LLTTII 22002222--22002244 LLTTII 22002233--22002255 LLTTII 22002255--22002277 TToottaall Issuing date 2 Mar 2022 31 Mar 2023 7 Aug 2024 Initial amount, pcs 240 000 240 000 303 750 783 750 Dividend adjustment No No No Initial allocation date 2 Mar 2022 31 Mar 2023 7 Aug 2024 Beginning of earning period 1 Jan 2022 1 Jan 2023 1 Jan 2025 End of earning period 31 Dec 2024 31 Dec 2025 31 Dec 2027 Vesting date 31 May 2025 31 May 2026 30 Apr 2028 Vesting conditions Cash flow & EPS Cash flow & EPS EPS Maximum contractual life, years 3.4 3.4 3.3 Remaining contractual life, years 0.0 0.4 2.3 Number of persons at the end of year 0 11 9 Payment method Cash Cash & Equity Cash & Equity CChhaannggeess dduurriinngg ppeerriioodd,, ppccss LLTTII 22002222--22002244 LLTTII 22002233--22002255 LLTTII 22002255--22002277 TToottaall 11..11.. 134 000 232 000 281 259 647 259 Granted 0 0 52 500 52 500 Forfeited 121 826 155 033 122 509 399 369 Exercised 12 174 0 0 12 174 3311..1122.. 0 76 967 211 250 288 217 FFuuttuurree ccaasshh ppaayymmeenntt ttoo bbee ppaaiidd ttoo tthhee ttaaxx aauutthhoorriittiieess ffrroomm sshhaarree--bbaasseedd ppaayymmeennttss,, EEUURR 22002255 EEssttiimmaattee 3311..1122.. 77 989
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64 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 2.4 Other Operating Income and Expenses Accounting Policies Government grants relating to costs are deferred and recognized in the profit or loss over the period necessary to match them with the costs that they are intended to compensate. Transactions denominated in foreign currency are recorded using the exchange rates on the day of the transaction. Monetary items denominated in foreign currency at the time of closing the accounts are valued at the exchange rate on the closing date. Non-monetary items denominated in foreign currency are valued at the exchange rate on the day of the transaction. The operational exchange rate gains and losses are included in the corresponding items of the income statement and mainly consist of trade receivables and accounts payable denominated in foreign currency. Robit as lessee Payments made under operating leases (net of any incentives received from the lessor) are charged to the income state¬ment on a straight-line basis over the period of the lease. Robit as a lessor All leases, except leases covered by the special alleviations enabled by the IFRS 16 standard, are recorded in the balance sheet. In the income statement, these rental costs are divided into depreciation and financing costs. Rent expenses that are within the scope of the IFRS 16 standard's special alleviations are included in the Other operating expenses. Other operating income *Includes e.g. sales freight costs EUR 1 428 thousand (2024: EUR 1 686 thousand) and changes in provisions. 14 22..44 OOtthheerr ooppeerraattiinngg iinnccoommee aanndd eexxppeennsseess AAccccoouunnttiinngg ppoolliicciieess Government grants relating to costs are deferred and recognized in the profit or loss over the period necessary to match them with the costs that they are intended to compensate. Transactions denominated in foreign currency are recorded using the exchange rates on the day of the transaction. Monetary items denominated in foreign currency at the time of closing the accounts are valued at the exchange rate on the closing date. Non-monetary items denominated in foreign currency are valued at the exchange rate on the day of the transaction. The operational exchange rate gains and losses are included in the corresponding items of the income statement and mainly consist of trade receivables and accounts payable denominated in foreign currency. Robit as lessee Payments made under operating leases (net of any incentives received from the lessor) are charged to the income statement on a straight-line basis over the period of the lease. Robit as a lessor All leases, except leases covered by the special alleviations enabled by the IFRS 16 standard, are recorded in the balance sheet. In the income statement, these rental costs are divided into depreciation and financing costs. Rent expenses that are within the scope of the IFRS 16 standard's special alleviations are included in the Other operating expenses. Other operating income EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Operational exchange rate income 2 344 1 342 Other operating income 89 287 TToottaall 22 443333 11 662299 . Other operating expenses EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Administration costs -6 627 -6 581 Lease payments -223 -262 Premise expenses -1 427 -1 707 Operational exchange rate expenses -3 007 -713 Other operating expenses* -2 035 -1 784 TToottaall --1133 332211 --1111 004488 *Includes e.g. sales freight cost s EUR 1 428 thousand (2024: EUR 1 686 thousand) and changes in provisions.
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65 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Of the statutory fees, portion of Ernst & Young alliance is 239 thousand euros for auditing. Auditor’s fees Right of use asset (IFRS 16) depreciation amounted to EUR 1 535 thousand (2024: EUR 1 598 thousand). *Depreciation of intangible rights includes correction of a detected error in 2024. Customer relationships and brand were recognized in connection of the acquisitions. Please refer to Note 3. 2.5 Depreciation and Amortization Accounting Policies Property, plant and equipment and other intangible assets are recognized on the balance sheet at cost less accumulated depreciations, amortizations and impairment losses, if any. Depreciation and amortization are recognized on a straight- line basis to write off the cost over the estimated economic useful life of assets. The assets’ useful lives are reviewed, and adjusted, when necessary, at each balance sheet date. The effects of IFRS 16 standard have been taken into account. Depreciation and amortization periods are disclosed in notes 3.2 and 5.1. 15 Auditor’s fees EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Statutory fees -399 -337 Assignments of Chapter 1.1, Section 2 of the Auditing Act 0 0 Other services 13 -16 TToottaall --338866 --335533 Of the statutory fees, portion of Ernst & Young alliance is 239 thousand euros for auditing. 22..55 DDeepprreecciiaattiioonn aanndd aammoorrttiizzaattiioonn AAccccoouunnttiinngg ppoolliicciieess Property, plant and equipment and other intangible assets are recognized on the balance sheet at cost less accumulated depreciations, amortizations and impairment losses, if any. Depreciation and amortization are recognized on a straight-line basis to write off the cost over the estimated economic useful life of assets. The assets’ useful lives are reviewed, and adjusted, when necessary, at each balance sheet date. The effects of IFRS 16 standard have been taken into account. Depreciation and amortization periods are disclosed in notes 3.2 and 5.1. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 DDeepprreecciiaattiioonn bbyy ccllaassss;; PPrrooppeerrttyy,, ppllaanntt aanndd eeqquuiippmmeenntt Land and water -6 -7 Buildings and constructions -1 009 -1 129 Machinery and equipment -2 173 -2 307 Other tangible assts -337 -324 TToottaall --33 552255 --33 776677 Right of use asset (IFRS 16) depreciation amounted to EUR 1 535 thousand (2024: EUR 1 598 thousand). EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 DDeepprreecciiaattiioonn bbyy ccllaassss;; iinnttaannggiibbllee aasssseettss Customer relationships -145 -147 Intangible rights* -64 31 Other intangible assets -40 -45 TToottaall --224499 --116611 *Depreciation of intangible rights includes correction of a detected error in 2024. Customer relationships and brand were recognized in connection of the acquisitions. Please refer to Note 3. 15 Auditor’s fees EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Statutory fees -399 -337 Assignments of Chapter 1.1, Section 2 of the Auditing Act 0 0 Other services 13 -16 TToottaall --338866 --335533 Of the statutory fees, portion of Ernst & Young alliance is 239 thousand euros for auditing. 22..55 DDeepprreecciiaattiioonn aanndd aammoorrttiizzaattiioonn AAccccoouunnttiinngg ppoolliicciieess Property, plant and equipment and other intangible assets are recognized on the balance sheet at cost less accumulated depreciations, amortizations and impairment losses, if any. Depreciation and amortization are recognized on a straight-line basis to write off the cost over the estimated economic useful life of assets. The assets’ useful lives are reviewed, and adjusted, when necessary, at each balance sheet date. The effects of IFRS 16 standard have been taken into account. Depreciation and amortization periods are disclosed in notes 3.2 and 5.1. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 DDeepprreecciiaattiioonn bbyy ccllaassss;; PPrrooppeerrttyy,, ppllaanntt aanndd eeqquuiippmmeenntt Land and water -6 -7 Buildings and constructions -1 009 -1 129 Machinery and equipment -2 173 -2 307 Other tangible assts -337 -324 TToottaall --33 552255 --33 776677 Right of use asset (IFRS 16) depreciation amounted to EUR 1 535 thousand (2024: EUR 1 598 thousand). EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 DDeepprreecciiaattiioonn bbyy ccllaassss;; iinnttaannggiibbllee aasssseettss Customer relationships -145 -147 Intangible rights* -64 31 Other intangible assets -40 -45 TToottaall --224499 --116611 *Depreciation of intangible rights includes correction of a detected error in 2024. Customer relationships and brand were recognized in connection of the acquisitions. Please refer to Note 3. 15 Auditor’s fees EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Statutory fees -399 -337 Assignments of Chapter 1.1, Section 2 of the Auditing Act 0 0 Other services 13 -16 TToottaall --338866 --335533 Of the statutory fees, portion of Ernst & Young alliance is 239 thousand euros for auditing. 22..55 DDeepprreecciiaattiioonn aanndd aammoorrttiizzaattiioonn AAccccoouunnttiinngg ppoolliicciieess Property, plant and equipment and other intangible assets are recognized on the balance sheet at cost less accumulated depreciations, amortizations and impairment losses, if any. Depreciation and amortization are recognized on a straight-line basis to write off the cost over the estimated economic useful life of assets. The assets’ useful lives are reviewed, and adjusted, when necessary, at each balance sheet date. The effects of IFRS 16 standard have been taken into account. Depreciation and amortization periods are disclosed in notes 3.2 and 5.1. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 DDeepprreecciiaattiioonn bbyy ccllaassss;; PPrrooppeerrttyy,, ppllaanntt aanndd eeqquuiippmmeenntt Land and water -6 -7 Buildings and constructions -1 009 -1 129 Machinery and equipment -2 173 -2 307 Other tangible assts -337 -324 TToottaall --33 552255 --33 776677 Right of use asset (IFRS 16) depreciation amounted to EUR 1 535 thousand (2024: EUR 1 598 thousand). EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 DDeepprreecciiaattiioonn bbyy ccllaassss;; iinnttaannggiibbllee aasssseettss Customer relationships -145 -147 Intangible rights* -64 31 Other intangible assets -40 -45 TToottaall --224499 --116611 *Depreciation of intangible rights includes correction of a detected error in 2024. Customer relationships and brand were recognized in connection of the acquisitions. Please refer to Note 3.
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66 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 3 Acquisitions and Intangible Assets 3.1 Goodwill & Impairment Testing Accounting Policy Goodwill arises on the acquisition of subsidiaries. Goodwill represents the excess of the cost of the acquisition over the Group’s interest in the net fair value of the assets and liabilities of the acquiree. Goodwill is tested annually for impair - ment and carried at cost less accumulated impairment losses. The allocation is made to those cash generating units or groups of cash-generating units that are expected to benefit from the business combination in which the good - will arose. The Group uses value in use calculations when assessing the recoverable amount. In assessing the recoverable amount, estimated future net cash flows are discounted to their present value based on the weighted average pre-tax cost of capital. The weighted average cost of capital reflects the current market view of the time value of money and risks related to the units to be tested. An impairment loss is charged to the statement of income when the carrying amount of CGU exceeds the recoverable amount. Impairment loss is first allocated to goodwill and then to other assets on a pro rata basis. Impairment losses recognized for goodwill in the statement of income are not reversed. Key Judgements and Estimates – Goodwill Impairment Testing The management makes significant estimates and judgements in determining the level at which the goodwill is tested and whether there are any indications of impairment. The company has reorganized its Down the Hole business and divided it into two separate business units from the beginning of 2023, Down the Hole business and Geotechnical business. The goodwill allocated to the Down the Hole business has been reallocated on January 1, 2023 in the same proportion as the values in use of the businesses have been distributed to the Down the Hole and Geotechnical businesses. In addition, the company has reorganized its business, and significant efficiency and cost benefits are expected in production and the supply chain. The company has terminated production at its Australian factory during 2023. The company has three cash-flow generating units (Top Hammer, Down the Hole and Geotechnical) from the beginning of 2023. Cash flow estimates are based on management’s best estimates for future net sales, cost development, general market conditions and applicable tax rates. The estimate covers following three-year period. The cash flows beyond this period are based on the estimated growth rates stated below.
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67 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 The table below presents the movements of goodwill: The table summarizes the allocation of goodwill to business units: The goodwill of Top Hammer cash-generating unit has been tested for impairment as of December 31, 2025. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Top Hammer cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 1 261 thousand, which represents 3.4 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Top Hammer cash-generating unit as follows: The recoverable amount of Top Hammer cash-generating unit would equal its carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): 16 33 AAccqquuiissiittiioonnss aanndd iinnttaannggiibbllee aasssseettss 33..11 GGooooddwwiillll && iimmppaaiirrmmeenntt tteessttiinngg AAccccoouunnttiinngg ppoolliiccyy Goodwill arises on the acquisition of subsidiaries. Goodwill represents the excess of the cost of the acquisition over the Group’s interest in the net fair value of the assets and liabilities of the acquiree. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. The allocation is made to those cash generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The Group uses value in use calculations when assessing the recoverable amount. In assessing the recoverable amount, estimated future net cash flows are discounted to their present value based on the weighted average pre-tax cost of capital. The weighted average cost of capital reflects the current market view of the time value of money and risks related to the units to be tested. An impairment loss is charged to the statement of income when the carrying amount of CGU exceeds the recoverable amount. Impairment loss is first allocated to goodwill and then to other assets on a pro rata basis. Impairment losses recognized for goodwill in the statement of income are not reversed. The table below presents the movements of goodwill: EEUURR tthhoouussaanndd 22002255 22002244 CCaarrrryyiinngg vvaalluuee oonn 11 JJaannuuaarryy 5 559 5 308 Exchange differences -272 251 CCaarrrryyiinngg vvaalluuee oonn 3311 DDeecceemmbbeerr 55 228877 55 555599 KKeeyy jjuuddggeemmeennttss aanndd eessttiimmaatteess –– ggooooddwwiillll iimmppaaiirrmmeenntt tteessttiinngg The management makes significant estimates and judgements in determining the level at which the goodwill is tested and whether there are any indications of impairment. The company has reorganized its Down the Hole business and divided it into two separate business units from the beginning of 2023, Down the Hole business and Geotechnical business. The goodwill allocated to the Down the Hole business has been reallocated on January 1, 2023 in the same proportion as the values in use of the businesses have been distributed to the Down the Hole and Geotechnical businesses. In addition, the company has reorganized its business, and significant efficiency and cost benefits are expected in production and the supply chain. The company has terminated production at its Australian factory during 2023. The company has three cash -flow generating units (Top Hammer, Down the Hole and Geotechnical) from the beginning of 2023. Cash flow estimates are based on management’s best estimates for future net sales, cost development, general market conditions and applicable tax rates. The estimate covers following three-year period. The cash flows beyond this period are based on the estimated growth rates stated below. 17 The table summarizes the allocation of goodwill to business units: EEUURR tthhoouussaanndd 22002255 22002244 Top Hammer 88 88 Geotechnical 2 340 2 462 Down the hole 2 859 3 009 TToottaall 55 228877 55 555599 The goodwill of TToopp HHaammmmeerr cash-generating unit has been tested for impairment as of December 31, 20 25. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Top Hammer cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 1 261 thousand, which represents 3.4 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Top Hammer cash- generating unit as follows: AAssssuummppttiioonn AApppprrooaacchh uusseedd ttoo ddeetteerrmmiinnee vvaalluueess Net sales growth The cumulative annual growth rate for the revenue is expected to be 11.9 % (2024: 10.3 %) during the three-year forecast period. Net sales are expected to increase since the company has strengthened its distribution network, has been able to win multi-year mine contracts, and has strengthened its product offering. EBITDA-margin Average EBITDA-margin is expected to be 11.8 % (2024: 12.2 %) during the three-year forecasting period. The long-term EBITDA is expected to be 13.6 % (2024: 13.8 %) of the net sales. This is based on implemented measures and management’s expectations for future development. Long-term growth rate The long-term growth rate beyond three-year forecast period is expected to be 1.5 % (2024: 1.5 %) per annum. This in line with the expected long-term inflation rate. Pre-tax discount rate The pre-tax discount rate used in impairment testing is 19.7 % (2024: 15.7 %). This reflects the specific risks relating to Down the Hole business and the countries in which it operates. The recoverable amount of Top Hammer cash-generating unit would equal its carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): AAssssuummeedd vvaalluueess iinn ggooooddwwiillll iimmppaaiirrmmeenntt ccaallccuullaattiioonnss,, TToopp HHaammmmeerr 22002255 FFrroomm TToo Average EBITDA-margin during the three-year forecast period 11.8 % 10.8 % Average EBITDA-margin (exceeding the three-year forecasting period) 13.6 % 13.1 % Pre-tax discount rate 19.7 % 20.3 % 17 The table summarizes the allocation of goodwill to business units: EEUURR tthhoouussaanndd 22002255 22002244 Top Hammer 88 88 Geotechnical 2 340 2 462 Down the hole 2 859 3 009 TToottaall 55 228877 55 555599 The goodwill of TToopp HHaammmmeerr cash-generating unit has been tested for impairment as of December 31, 20 25. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Top Hammer cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 1 261 thousand, which represents 3.4 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Top Hammer cash- generating unit as follows: AAssssuummppttiioonn AApppprrooaacchh uusseedd ttoo ddeetteerrmmiinnee vvaalluueess Net sales growth The cumulative annual growth rate for the revenue is expected to be 11.9 % (2024: 10.3 %) during the three-year forecast period. Net sales are expected to increase since the company has strengthened its distribution network, has been able to win multi-year mine contracts, and has strengthened its product offering. EBITDA-margin Average EBITDA-margin is expected to be 11.8 % (2024: 12.2 %) during the three-year forecasting period. The long-term EBITDA is expected to be 13.6 % (2024: 13.8 %) of the net sales. This is based on implemented measures and management’s expectations for future development. Long-term growth rate The long-term growth rate beyond three-year forecast period is expected to be 1.5 % (2024: 1.5 %) per annum. This in line with the expected long-term inflation rate. Pre-tax discount rate The pre-tax discount rate used in impairment testing is 19.7 % (2024: 15.7 %). This reflects the specific risks relating to Down the Hole business and the countries in which it operates. The recoverable amount of Top Hammer cash-generating unit would equal its carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): AAssssuummeedd vvaalluueess iinn ggooooddwwiillll iimmppaaiirrmmeenntt ccaallccuullaattiioonnss,, TToopp HHaammmmeerr 22002255 FFrroomm TToo Average EBITDA-margin during the three-year forecast period 11.8 % 10.8 % Average EBITDA-margin (exceeding the three-year forecasting period) 13.6 % 13.1 % Pre-tax discount rate 19.7 % 20.3 % 17 The table summarizes the allocation of goodwill to business units: EEUURR tthhoouussaanndd 22002255 22002244 Top Hammer 88 88 Geotechnical 2 340 2 462 Down the hole 2 859 3 009 TToottaall 55 228877 55 555599 The goodwill of TToopp HHaammmmeerr cash-generating unit has been tested for impairment as of December 31, 20 25. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Top Hammer cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 1 261 thousand, which represents 3.4 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Top Hammer cash- generating unit as follows: AAssssuummppttiioonn AApppprrooaacchh uusseedd ttoo ddeetteerrmmiinnee vvaalluueess Net sales growth The cumulative annual growth rate for the revenue is expected to be 11.9 % (2024: 10.3 %) during the three-year forecast period. Net sales are expected to increase since the company has strengthened its distribution network, has been able to win multi-year mine contracts, and has strengthened its product offering. EBITDA-margin Average EBITDA-margin is expected to be 11.8 % (2024: 12.2 %) during the three-year forecasting period. The long-term EBITDA is expected to be 13.6 % (2024: 13.8 %) of the net sales. This is based on implemented measures and management’s expectations for future development. Long-term growth rate The long-term growth rate beyond three-year forecast period is expected to be 1.5 % (2024: 1.5 %) per annum. This in line with the expected long-term inflation rate. Pre-tax discount rate The pre-tax discount rate used in impairment testing is 19.7 % (2024: 15.7 %). This reflects the specific risks relating to Down the Hole business and the countries in which it operates. The recoverable amount of Top Hammer cash-generating unit would equal its carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): AAssssuummeedd vvaalluueess iinn ggooooddwwiillll iimmppaaiirrmmeenntt ccaallccuullaattiioonnss,, TToopp HHaammmmeerr 22002255 FFrroomm TToo Average EBITDA-margin during the three-year forecast period 11.8 % 10.8 % Average EBITDA-margin (exceeding the three-year forecasting period) 13.6 % 13.1 % Pre-tax discount rate 19.7 % 20.3 %
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68 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 The goodwill of Geotechnical cash-generating unit has been tested for impairment as of December 31, 2025. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Geotechnical cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 5 378 thousand, which represents 65.7 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Geotechnical cash-generating unit as follows: The recoverable amount of Geotechnical cash-generating unit would equal the carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): The goodwill of Down the Hole cash-generating unit has been tested for impairment as of December 31, 2025. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Down the Hole cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 4 525 thousand, which represents 39.7 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Down the Hole cash-generating unit as follows: 19 The goodwill of DDoowwnn tthhee HHoollee cash-generating unit has been tested for impairment as of December 31, 2025. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Down the Hole cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 4 525 thousand, which represents 39.7 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Down the Hole cash - generating unit as follows: AAssssuummppttiioonn AApppprrooaacchh uusseedd ttoo ddeetteerrmmiinnee vvaalluueess Net sales growth The cumulative annual growth rate for the revenue is expected to be 21.5 % (2024: 14.4 %) during the three-year forecast period. Net sales are expected to increase since the company has strengthened its distribution network, has been able to win multi-year mine contracts, and has strengthened its product offering. EBITDA-margin Average EBITDA-margin is expected to be 11.2 % (2024: 9.5 %) during the three-year forecasting period. The long-term EBITDA is expected to be 14.2 % (2024: 11.4 %) of the net sales. This is based on implemented measures and management’s expectations for future development. Long-term growth rate The long-term growth rate beyond three-year forecast period is expected to be 1.5 % (2024: 1.5 %) per annum. This in line with the expected long-term inflation rate. Pre-tax discount rate The pre-tax discount rate used in impairment testing is 18.3 % (2024: 15.4 %). This reflects the specific risks relating to Down the Hole business and the countries in which it operates. The recoverable amount of Down the Hole cash-generating unit would equal the carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): AAssssuummeedd vvaalluueess iinn ggooooddwwiillll iimmppaaiirrmmeenntt ccaallccuullaattiioonnss,, DDoowwnn tthhee HHoollee 22002255 FFrroomm TToo Average EBITDA-margin during the three-year forecast period 11.2 % 7.9 % Average EBITDA-margin (exceeding the three-year forecasting period 14.2 % 9.1 % Pre-tax discount rate 18.3 % 26.3 % 19 The goodwill of DDoowwnn tthhee HHoollee cash-generating unit has been tested for impairment as of December 31, 2025. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Down the Hole cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 4 525 thousand, which represents 39.7 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Down the Hole cash - generating unit as follows: AAssssuummppttiioonn AApppprrooaacchh uusseedd ttoo ddeetteerrmmiinnee vvaalluueess Net sales growth The cumulative annual growth rate for the revenue is expected to be 21.5 % (2024: 14.4 %) during the three-year forecast period. Net sales are expected to increase since the company has strengthened its distribution network, has been able to win multi-year mine contracts, and has strengthened its product offering. EBITDA-margin Average EBITDA-margin is expected to be 11.2 % (2024: 9.5 %) during the three-year forecasting period. The long-term EBITDA is expected to be 14.2 % (2024: 11.4 %) of the net sales. This is based on implemented measures and management’s expectations for future development. Long-term growth rate The long-term growth rate beyond three-year forecast period is expected to be 1.5 % (2024: 1.5 %) per annum. This in line with the expected long-term inflation rate. Pre-tax discount rate The pre-tax discount rate used in impairment testing is 18.3 % (2024: 15.4 %). This reflects the specific risks relating to Down the Hole business and the countries in which it operates. The recoverable amount of Down the Hole cash-generating unit would equal the carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): AAssssuummeedd vvaalluueess iinn ggooooddwwiillll iimmppaaiirrmmeenntt ccaallccuullaattiioonnss,, DDoowwnn tthhee HHoollee 22002255 FFrroomm TToo Average EBITDA-margin during the three-year forecast period 11.2 % 7.9 % Average EBITDA-margin (exceeding the three-year forecasting period 14.2 % 9.1 % Pre-tax discount rate 18.3 % 26.3 % 19 The goodwill of DDoowwnn tthhee HHoollee cash-generating unit has been tested for impairment as of December 31, 2025. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Down the Hole cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 4 525 thousand, which represents 39.7 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Down the Hole cash - generating unit as follows: AAssssuummppttiioonn AApppprrooaacchh uusseedd ttoo ddeetteerrmmiinnee vvaalluueess Net sales growth The cumulative annual growth rate for the revenue is expected to be 21.5 % (2024: 14.4 %) during the three-year forecast period. Net sales are expected to increase since the company has strengthened its distribution network, has been able to win multi-year mine contracts, and has strengthened its product offering. EBITDA-margin Average EBITDA-margin is expected to be 11.2 % (2024: 9.5 %) during the three-year forecasting period. The long-term EBITDA is expected to be 14.2 % (2024: 11.4 %) of the net sales. This is based on implemented measures and management’s expectations for future development. Long-term growth rate The long-term growth rate beyond three-year forecast period is expected to be 1.5 % (2024: 1.5 %) per annum. This in line with the expected long-term inflation rate. Pre-tax discount rate The pre-tax discount rate used in impairment testing is 18.3 % (2024: 15.4 %). This reflects the specific risks relating to Down the Hole business and the countries in which it operates. The recoverable amount of Down the Hole cash-generating unit would equal the carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): AAssssuummeedd vvaalluueess iinn ggooooddwwiillll iimmppaaiirrmmeenntt ccaallccuullaattiioonnss,, DDoowwnn tthhee HHoollee 22002255 FFrroomm TToo Average EBITDA-margin during the three-year forecast period 11.2 % 7.9 % Average EBITDA-margin (exceeding the three-year forecasting period 14.2 % 9.1 % Pre-tax discount rate 18.3 % 26.3 %
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69 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 The recoverable amount of Down the Hole cash-generating unit would equal the carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): 3.2 Other Intangible Asset Accounting Policy Intangible assets are recognized in the balance sheet when the asset can be controlled by Robit, the expected future benefits attributable to the asset will flow to Robit and the cost of the asset can be measured reliably. An intangible asset is initially recognized at cost, comprising of its purchase price and any directly attributable expenditures. Intan - gible assets are carried in the balance sheet at acquisition cost less any accumulated amortization and any accumu - lated impairment losses. Intangible assets are amortized using the straight-line method depending on the useful life of the asset. The appro - priateness of the amortization periods and method is assessed at each balance sheet date. The useful lives for Robit’s intangible assets are as follows: Years Customer relationships 7-10 Brand 15 Intangible rights 5 Other intangible assets 5 Development costs Development costs are capitalized when certain criteria related to economic and technical feasibility are met, and it is expected that the product will generate future economic benefits. Capitalized development costs include mainly materials, supplies and direct labour costs. Earlier expensed development costs are not capitalized later. Intangible assets under development are not amortized, but they are tested for impairment at least annually. Key Judgements and Estimates - Capitalized Development Expenses Costs incurred in the development phase of a development project are capitalized as intangible assets if a number of criteria are met. Management has made judgements and assumptions when assessing whether a project meets these criteria, and on measuring the costs and the economic life as well as the future cash inflows generated by the devel - opment projects. Expected returns from capitalized development projects involve estimates and judgement from the management about the future net sales and related costs. These estimates involve risks and uncertainties, and it is possible that, following changes in circumstances, expected returns from capitalized development projects change. Robit assesses indications of impairment for capitalized development projects. The value for capitalized development projects may decrease if the expected returns from new services change. 19 The goodwill of DDoowwnn tthhee HHoollee cash-generating unit has been tested for impairment as of December 31, 2025. The values used for the goodwill testing and their impact are presented in the table below. Based on the assumptions below, the recoverable amount of the Down the Hole cash-generating unit is estimated to exceed the carrying amount of tested net assets by EUR 4 525 thousand, which represents 39.7 % of the carrying amount of the tested assets. Management has determined the values for key assumptions used in the impairment testing of the Down the Hole cash - generating unit as follows: AAssssuummppttiioonn AApppprrooaacchh uusseedd ttoo ddeetteerrmmiinnee vvaalluueess Net sales growth The cumulative annual growth rate for the revenue is expected to be 21.5 % (2024: 14.4 %) during the three-year forecast period. Net sales are expected to increase since the company has strengthened its distribution network, has been able to win multi-year mine contracts, and has strengthened its product offering. EBITDA-margin Average EBITDA-margin is expected to be 11.2 % (2024: 9.5 %) during the three-year forecasting period. The long-term EBITDA is expected to be 14.2 % (2024: 11.4 %) of the net sales. This is based on implemented measures and management’s expectations for future development. Long-term growth rate The long-term growth rate beyond three-year forecast period is expected to be 1.5 % (2024: 1.5 %) per annum. This in line with the expected long-term inflation rate. Pre-tax discount rate The pre-tax discount rate used in impairment testing is 18.3 % (2024: 15.4 %). This reflects the specific risks relating to Down the Hole business and the countries in which it operates. The recoverable amount of Down the Hole cash-generating unit would equal the carrying amount if any of the key assumptions were to change as follows (keeping other assumptions constant): AAssssuummeedd vvaalluueess iinn ggooooddwwiillll iimmppaaiirrmmeenntt ccaallccuullaattiioonnss,, DDoowwnn tthhee HHoollee 22002255 FFrroomm TToo Average EBITDA-margin during the three-year forecast period 11.2 % 7.9 % Average EBITDA-margin (exceeding the three-year forecasting period 14.2 % 9.1 % Pre-tax discount rate 18.3 % 26.3 %
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70 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Intangible assets customer relationships and brand were recognized in connection with the acquisitions of Robit Australia and Robit GB in 2016. Intangible rights include mainly patents. Robit aims to continue to strengthen its existing patent and intellectual property port- folio by acquiring and licensing strategic patents, other intellectual property rights and technologies. Other intangible assets inclue capi- talised development costs and IT software. Research and development Robit continues to invest in its own product development projects and in collective product development projects in the industry in order to secure a competitive and innovative offering. Total costs relating to research and development recognized to the consoli - dated statement of comprehensive income were EUR 120 thousand in 2025 and EUR 149 thousand in 2024. Capitalized development expenses in the balance sheet amounted to EUR 25 thousand as of December 31st, 2025 (2024: EUR 27 thousand). 21 EEUURR tthhoouussaanndd CCuussttoommeerr rreellaattiioonn-- sshhiippss BBrraanndd IInnttaannggiibbllee rriigghhttss OOtthheerr iinnttaannggiibbllee aasssseettss TToottaall 22002255 Cost on 1 January 5 599 892 912 4 281 11 685 Additions 0 0 50 25 75 Exchange differences -261 -44 -8 -14 -327 Cost on 31 December 5 338 848 955 4 292 11 433 Accumulated amortization and impairment on 1 January -5 464 -506 -760 -4 238 -10 968 Amortization -87 -58 -64 -40 -249 Exchange differences 256 26 8 13 303 Accumulated amortization and impairment on 31 December -5 295 -537 -816 -4 265 -10 913 NNeett bbooookk aammoouunntt oonn 11 JJaannuuaarryy 113355 338866 115522 4433 771177 NNeett bbooookk aammoouunntt oonn 3311 DDeecceemmbbeerr 4433 331111 113399 2288 552200 EEUURR tthhoouussaanndd CCuussttoommeerr rreellaattiioonn-- sshhiippss BBrraanndd IInnttaannggiibbllee rriigghhttss OOtthheerr iinnttaannggiibbllee aasssseettss TToottaall 22002244 Cost on 1 January 5 705 851 839 5 956 13 351 Additions 0 0 39 0 39 Disposals 0 0 0 -1 638 -1 638 Reclassifications 0 0 40 -40 0 Exchange differences -106 41 -5 3 -67 Cost on 31 December 5 599 892 912 4 281 11 685 Accumulated amortization and impairment on 1 January -5 489 -426 -787 -5 832 -12 534 Amortization -88 -58 31 -45 -161 Reclassifications 0 0 -10 10 0 Disposals and impairment 0 0 0 1 631 1 631 Exchange differences 114 -22 5 -2 95 Accumulated amortization and impairment on 31 December -5 464 -506 -760 -4 238 -10 968 NNeett bbooookk aammoouunntt oonn 11 JJaannuuaarryy 221155 442266 5522 112244 881177 NNeett bbooookk aammoouunntt oonn 3311 DDeecceemmbbeerr 113355 338866 115522 4433 771177 Intangible assets customer relationships and brand were recognized in connection with the acquisitions of Robit Australia and Robit GB in 2016. Intangible rights include mainly patents. Robit aims to continue to strengthen its existing patent and intellectual property portfolio by acquiring and licensing strategic patents, other intellectual property rights and technologies. Other intangible assets inclue capitalised development costs and IT software. Research and development Robit continues to invest in its own product development projects and in collective product development projects in the industry in order to secure a competitive and innovative offering. Total costs relating to research and development recognized to the consolidated statement of comprehensive income were EUR 120 thousand in 2025 and EUR 149 thousand in 2024. Capitalized development expenses in the balance sheet amounted to EUR 25 thousand as of December 31st, 2025 (2024: EUR 27 thousand).
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71 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 4 Capital Structure and Financing 4.1 Share Capital and Reserves Accounting Policy Robit’s equity consists of share capital, share premium, the reserve for invested unrestricted equity, translation differ - ences, and retained earnings. Changes in treasury shares owned by Robit are recorded in the retained earnings. Incre- mental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. Dividend distribution to the Company’s shareholders is recognized as a liability in the Group’s financial statements in the period in which the dividends are approved by the Company’s shareholders. Share capital and share premium Ordinary shares are classified as equity. The parent company has one share class, and each share has equal right to dividend. Each share carries one vote at the general meeting. All shares issued by the parent company are fully paid. The shares have no nominal value. The table below presents the number of outstanding shares for the reported periods: The amounts included in the share premium fund relate to share issues in accordance with the previous Finnish Limited Liability Compa- nies Act, which was in force until 31 August 2006, whereby the share premium account was credited with the amounts in excess of the then current nominal value of the shares that were paid by shareholders in connection with share issues. Own shares The table below shows the changes in own shares during the reporting periods: 22 44 CCaappiittaall ssttrruuccttuurree aanndd ffiinnaanncciinngg 44..11 SShhaarree ccaappiittaall aanndd rreesseerrvveess AAccccoouunnttiinngg ppoolliiccyy Robit’s equity consists of share capital, share premium, the reserve for invested unrestricted equity, translation differences, and retained earnings. Changes in treasury shares owned by Robit are recorded in the retained earnings. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. Dividend distribution to the Company’s shareholders is recognized as a liability in the Group’s financial statements in the period in which the dividends are approved by the Company’s shareholders. Share capital and share premium Ordinary shares are classified as equity. The parent company has one share class, and each share has equal right to dividend. Each share carries one vote at the general meeting. All shares issued by the parent company are fully paid. The shares have no nominal value. The table below presents the number of outstanding shares for the reported periods: Shares Number AAtt 11 JJaann 22002244 2211 113322 771100 Use of treasury shares to management compensation 14 216 Use of treasury shares to BoD compensation 64 615 Acquisition of own shares -150 000 AAtt 3311 DDeecc 22002244 2211 006611 554411 Use of treasury shares to BoD compensation 80 002 AAtt 3311 DDeecc 22002255 2211 114411 554433 The amounts included in the share premium fund relate to share issues in accordance with the previous Finnish Limited Liability Companies Act, which was in force until 31 August 2006, whereby the share premium account was credited with the amounts in excess of the then current nominal value of the shares that were paid by shareholders in connection with share issues. 23 Own shares The table below shows the changes in own shares during the reporting periods: Shares Number OOnn 11 JJaann 22002244 4477 119900 Use of treasury shares to management compensation -14 216 Use of treasury shares to BoD compensation -64 615 Acquisition of own shares 150 000 OOnn 3311 DDeecc 22002244 111188 335599 Use of treasury shares to BoD compensation -80 002 OOnn 3311 DDeecc 22002255 3388 335577 Reserve for invested unrestricted equity Under the Finnish Companies Act, the subscription price of new shares is credited to the share capital, unless it is provided in the share issue resolution that it is to be credited in full or in part to the invested unrestricted equity reserve. Contributions to the reserve for invested unrestricted equity can also be made without share issues. Yearly compensation for Board of Directors was paid with Robit’s treasury shares in 2025 and 2024. Attendance fees were paid in cash. Dividends The annual general meeting resolution April 8, 2025 was to not pay dividend from financial year 2024. The annual general meeting resolution April 3, 2024 was to not pay dividend from financial year 2023. Effect of hedging instruments on equity EEUURR tthhoouussaanndd 22002255 22002244 FFaaiirr vvaalluuee rreesseerrvvee,, ttaaxxeess eexxcclluuddeedd,, oonn JJaannuuaarryy 11sstt 222 455 FFaaiirr vvaalluuee rreesseerrvvee oonn JJaannuuaarryy 11sstt 278 569 Cash flow hedges Change in fair value recognized in other comprehensive income Interest rate swaps 71 -291 Amount reclassified to profit or loss -278 FFaaiirr vvaalluuee rreesseerrvvee oonn DDeecceemmbbeerr 3311sstt 71 278 Interest rate swaps Tax effect -14 -56 FFaaiirr vvaalluuee rreesseerrvvee oonn DDeecceemmbbeerr 3311sstt 57 222
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72 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Reserve for invested unrestricted equity Under the Finnish Companies Act, the subscription price of new shares is credited to the share capital, unless it is provided in the share issue resolution that it is to be credited in full or in part to the invested unrestricted equity reserve. Contributions to the reserve for invested unrestricted equity can also be made without share issues. Yearly compensation for Board of Directors was paid with Robit’s treasury shares in 2025 and 2024. Attendance fees were paid in cash. Dividends The annual general meeting resolution April 8, 2025 was to not pay dividend from financial year 2024. The annual general meeting reso- lution April 3, 2024 was to not pay dividend from financial year 2023. Effect of hedging instruments on equity Translation differences The translation differences in the group mainly consist of the translation differences of the acquisition costs of the subsidiaries and the results of the financial periods. The group has internal loans, which are treated as net investments in foreign companies in accordance with IAS 21, and whose translation differences are therefore recorded in equity. 23 Own shares The table below shows the changes in own shares during the reporting periods: Shares Number OOnn 11 JJaann 22002244 4477 119900 Use of treasury shares to management compensation -14 216 Use of treasury shares to BoD compensation -64 615 Acquisition of own shares 150 000 OOnn 3311 DDeecc 22002244 111188 335599 Use of treasury shares to BoD compensation -80 002 OOnn 3311 DDeecc 22002255 3388 335577 Reserve for invested unrestricted equity Under the Finnish Companies Act, the subscription price of new shares is credited to the share capital, unless it is provided in the share issue resolution that it is to be credited in full or in part to the invested unrestricted equity reserve. Contributions to the reserve for invested unrestricted equity can also be made without share issues. Yearly compensation for Board of Directors was paid with Robit’s treasury shares in 2025 and 2024. Attendance fees were paid in cash. Dividends The annual general meeting resolution April 8, 2025 was to not pay dividend from financial year 2024. The annual general meeting resolution April 3, 2024 was to not pay dividend from financial year 2023. Effect of hedging instruments on equity EEUURR tthhoouussaanndd 22002255 22002244 FFaaiirr vvaalluuee rreesseerrvvee,, ttaaxxeess eexxcclluuddeedd,, oonn JJaannuuaarryy 11sstt 222 455 FFaaiirr vvaalluuee rreesseerrvvee oonn JJaannuuaarryy 11sstt 278 569 Cash flow hedges Change in fair value recognized in other comprehensive income Interest rate swaps 71 -291 Amount reclassified to profit or loss -278 FFaaiirr vvaalluuee rreesseerrvvee oonn DDeecceemmbbeerr 3311sstt 71 278 Interest rate swaps Tax effect -14 -56 FFaaiirr vvaalluuee rreesseerrvvee oonn DDeecceemmbbeerr 3311sstt 57 222
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73 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 4.2 Earnings Per Share Accounting Policy Basic earnings per share is calculated by dividing the profit attributable to owners of the parent company by the weighted average number of ordinary shares outstanding during the year. Diluted EPS is calculated on the same basis as Basic EPS except that it reflects the impact of any potential commitments the Group has to issue shares in the future. The Group did not have any instruments that would have dilutive impact on the earnings per share as of 31 December 2025 or 2024. 4.3 Borrowings Accounting Policy Borrowings are recognized initially at fair value, net of transaction costs incurred, and are subsequently carried at amor- tised cost. Transaction costs are amortized over the term of the loan and recognized as finance cost as part of interest expense using effective interest rate method. Borrowings are derecognized when loan has been repaid or liability has been extinguished for example in connection with refinancing. Borrowings are recognized as current liabilities unless the Group has an unconditional right to defer the settlement of the liability for at least 12 months after the end of reporting period. Carrying amounts of the borrowings: 24 Translation differences The translation differences in the group mainly consist of the translation differences of the acquisition costs of the subsidiaries and the results of the financial periods. The group has internal loans, which are treated as net investments in foreign companies in accordance with IAS 21, and whose translation differences are therefore recorded in equity. 44..22 EEaarrnniinnggss ppeerr sshhaarree AAccccoouunnttiinngg ppoolliiccyy Basic earnings per share is calculated by dividing the profit attributable to owners of the parent company by the weighted average number of ordinary shares outstanding during the year. Diluted EPS is calculated on the same basis as Basic EPS except that it reflects the impact of any potential commitments the Group has to issue shares in the future. The Group did not have any instruments that would have dilutive impact on the earnings per share as of 31 December 2025 or 2024. 11 JJaann –– 3311 DDeecc 22002255 11 JJaann –– 3311 DDeecc 22002244 Profit attributable to the owners of the parent company (euros) -304 148 1 098 597 Weighted average number of shares (number of shares) 21 061 541 21 123 637 BBaassiicc aanndd ddiilluutteedd eeaarrnniinnggss ppeerr sshhaarree --00..0011 00..0055 25 44..33 BBoorrrroowwiinnggss AAccccoouunnttiinngg ppoolliiccyy Borrowings are recognized initially at fair value, net of transaction costs incurred, and are subsequently carried at amortised cost. Transaction costs are amortized over the term of the loan and recognized as finance cost as part of interest expense using effective interest rate method. Borrowings are derecognized when loan has been repaid or liability has been extinguished for example in connection with refinancing. Borrowings are recognized as current liabilities unless the Group has an unconditional right to defer the settlement of the liability for at least 12 months after the end of reporting period. Carrying amounts of the borrowings: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Non-current borrowings Loans from credit institutions 16 028 18 426 Other loans 12 12 Lease contract liabilities 1 820 2 746 TToottaall nnoonn--ccuurrrreenntt bboorrrroowwiinnggss 1177 885599 2211 118855 Current borrowings Loans from credit institutions 5 121 5 077 Bank overdrafts 0 105 Lease contract liabilities 1 577 1 295 TToottaall ccuurrrreenntt bboorrrroowwiinnggss 66 669977 66 447766 TToottaall bboorrrroowwiinnggss 2244 555566 2277 666611 The Group’s management has determined that there is no material difference between the borrowings’ carrying value and fair value because significant part of Robit’s loans are with variables interest rate. There have not been significant changes in interest rates since the issue date of the loans and margins of loans are considered to reflect different conditions and the subordination of the loans with reasonable accuracy. The management has assessed that there have not been significant changes in credit risk since the loans were drawn-down. Loans from credit institutions A credit facility, totalling EUR 21.1 million, of which EUR 18.0 million is secured by a negative pledge that imposes on Robit certain covenants and limitations regarding additional loans. The negative pledge states that (subject to certain exceptions) Robit will not provide any other security over its assets. The mentioned certain exceptions apply to guarantees provided for Robit Korea’s loans. Additionally, Robit will ensure that the following financial performance measures (the original terms of the financing agreement) are met: • Minimum equity ratio of 30.0% and • Net debt/adjusted EBITDA ratio is defined not to exceed 3.5 According to the financing agreement, the ratio of net liabilities to EBITDA at the time of review of the covenant terms as of 31 December 2025 may not exceed 3.50. In accordance with the terms of the financing agreement, the main financier could demand full repayment of the loan if the covenant conditions are breached. The covenant of Robit Plc's financing agreement,
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74 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 The Group’s management has determined that there is no material difference between the borrowings’ carrying value and fair value because significant part of Robit’s loans are with variables interest rate. There have not been significant changes in interest rates since the issue date of the loans and margins of loans are considered to reflect different conditions and the subordination of the loans with reasonable accuracy. The management has assessed that there have not been significant changes in credit risk since the loans were drawn-down. Loans from credit institutions A credit facility, totalling EUR 21.1 million, of which EUR 18.0 million is secured by a negative pledge that imposes on Robit certain covenants and limitations regarding additional loans. The negative pledge states that (subject to certain exceptions) Robit will not provide any other security over its assets. The mentioned certain exceptions apply to guarantees provided for Robit Korea’s loans. Addi- tionally, Robit will ensure that the following financial performance measures (the original terms of the financing agreement) are met: • Minimum equity ratio of 30.0% and • Net debt/adjusted EBITDA ratio is defined not to exceed 3.5 According to the financing agreement, the ratio of net liabilities to EBITDA at the time of review of the covenant terms as of 31 December 2025 may not exceed 3.50. In accordance with the terms of the financing agreement, the main financier could demand full repayment of the loan if the covenant conditions are breached. The covenant of Robit Plc's financing agreement, interest-bearing net debt/EBITDA, was 2.91 and thus has met the terms of the financing agreement on 31 December 2025. The terms of the financing agreement are reviewed semiannually. Robit amortized its loans by EUR 1.5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1.50 %. Robit has EUR 9.5 million in cash and cash equivalents and EUR 6.0 million in other financial assets at its disposal on December 31, 2025, and according to the company's management's estimate, will be able to meet its loan amortization obligations and liquidity requirements according to the plan. Other loans from financial institutions includes mainly variable rate bank loans. Information regarding guarantees for the loans can be found in note 4.7. Bank overdrafts The Group had EUR 0 thousand liability as of 31 December 2025 (2024: EUR 105 thousand) related to its credit facility agreement including a Finnish overdraft account. The limit of the bank overdraft on 31 December 2025 was EUR 6 000 thousand (2024: EUR 6 000 thousand). Finance lease liabilities Lease liabilities are secured as the rights to the leased asset revert to the lessor in the event of default. Lease liabilities are reported as use of asset liabilities with bank financing.
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75 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Net debt Changes in loans resulting from financial transactions *Other changes are related to adjustments made to enhance comparability. 26 interest-bearing net debt/EBITDA, was 2.91 and thus has met the terms of the financing agreement on 31 December 2025. The terms of the financing agreement are reviewed semiannually. Robit amortized its loans by EUR 1.5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1.50 %. Robit has EUR 9.5 million in cash and cash equivalents and EUR 6.0 million in other financial assets at its disposal on December 31, 202 5, and according to the company's management's estimate, will be able to meet its loan amortization obligations and liquidity requirements according to the plan. Other loans from financial institutions includes mainly variable rate bank loans. Information regarding guarantees for the loans can be found in note 4.7. Bank overdrafts The Group had EUR 0 thousand liability as of 31 December 202 5 (2024: EUR 105 thousand) related to its credit facility agreement including a Finnish overdraft account. The limit of the bank overdraft on 31 December 2025 was EUR 6 000 thousand (2024: EUR 6 000 thousand). Finance lease liabilities Lease liabilities are secured as the rights to the leased asset revert to the lessor in the event of default. Lease liabilities are reported as use of asset liabilities with bank financing. Net debt EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Cash and cash equivalents 9 515 9 040 Current loans 6 697 6 476 Non-current loans 17 859 21 185 NNeett ddeebbtt 1155 004411 1188 662211 Cash 9 515 9 040 Gross debt - fixed interest rate 3 396 4 146 Gross debt - variable interest rate 21 160 23 516 NNeett ddeebbtt 1155 004411 1188 662211 27 Changes in loans resulting from financial transactions 22002255 CCuurrrreenntt lleeaasseess NNoonn-- ccuurrrreenntt lleeaasseess CCuurrrreenntt llooaannss NNoonn--ccuurrrreenntt llooaannss TToottaall Debt on January 1st 1 295 2 746 5 182 18 439 27 661 Cash flows -1 532 0 -2 071 0 -3 603 Changes in lease agreements 1 854 -862 0 0 991 Other -40 -64 2 010 -2 400 -493 TToottaall 11 557777 11 882200 55 112211 1166 003399 2244 555566 22002244 CCuurrrreenntt lleeaasseess NNoonn-- ccuurrrreenntt lleeaasseess CCuurrrreenntt llooaannss NNoonn--ccuurrrreenntt llooaannss TToottaall Debt on January 1st 1 284 3 946 5 179 26 069 36 478 Cash flows -1 668 0 -3 375 0 -5 043 Changes in lease agreements 1 678 -1 248 0 0 430 Other* 1 48 3 378 -7 630 -4 203 TToottaall 11 229955 22 774466 55 118822 1188 443399 2277 666611 *Other changes are related to adjustments made to enhance comparability. 27 Changes in loans resulting from financial transactions 22002255 CCuurrrreenntt lleeaasseess NNoonn-- ccuurrrreenntt lleeaasseess CCuurrrreenntt llooaannss NNoonn--ccuurrrreenntt llooaannss TToottaall Debt on January 1st 1 295 2 746 5 182 18 439 27 661 Cash flows -1 532 0 -2 071 0 -3 603 Changes in lease agreements 1 854 -862 0 0 991 Other -40 -64 2 010 -2 400 -493 TToottaall 11 557777 11 882200 55 112211 1166 003399 2244 555566 22002244 CCuurrrreenntt lleeaasseess NNoonn-- ccuurrrreenntt lleeaasseess CCuurrrreenntt llooaannss NNoonn--ccuurrrreenntt llooaannss TToottaall Debt on January 1st 1 284 3 946 5 179 26 069 36 478 Cash flows -1 668 0 -3 375 0 -5 043 Changes in lease agreements 1 678 -1 248 0 0 430 Other* 1 48 3 378 -7 630 -4 203 TToottaall 11 229955 22 774466 55 118822 1188 443399 2277 666611 *Other changes are related to adjustments made to enhance comparability.
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76 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 4.4 Financial Asset Accounting Policies The Group classifies all its financial assets in category “loans and receivables” . The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition. Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables are included in current assets, except for maturities greater than 12 months after the end of the reporting period. These are classified as non-current assets. The Group’s loans and receivables are included in the consolidated balance sheet lines “Cash and cash equivalents” , “Other financial assets” , “Loan receivables” , “Account and other receivables” and “Other receivables” (non-current). Loans and receivables at amortised cost mainly consist of accounts receivable and cash and cash equivalents that are not quoted in an active market and that are not kept for trading purposes. Loans and receivables are measured initially at fair value plus transaction costs, if any, and subsequently, at amortised cost using the effective interest method. An impairment loss is recognized in the statement of comprehensive income if the carrying value of the loan receivable is higher than the estimated recoverable amount. Derivatives The Group uses derivative contracts to hedge interest rate risk. Derivative contracts are initially recognized at fair value and subsequently at fair value. Changes in the fair value of derivative contracts are recognized in financial items through profit or loss, unless they are designated as hedging instruments, in which case they are hedged in accord - ance with hedge accounting. Hedge accounting can be used to reduce the volatility due to fair value measurement in the income statement. In this case, the asymmetry between the hedging instrument and the hedged item is eliminated when both affect the income statement simultaneously. When starting a hedging relationship subject to hedge accounting, the Group prepares a determination of the hedging relationship. the objective of risk management and the strategy for taking hedging. 28 44..44 FFiinnaanncciiaall aasssseettss AAccccoouunnttiinngg ppoolliicciieess The Group classifies all its financial assets in category “loans and receivables”. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition. Loans and receivables are non -derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables are included in current assets, except for maturities greater than 12 months after the end of the reporting period. These are classified as non -current assets. The Group’s loans and receivables are included in the consolidated balance sheet lines “Cash and cash equivalents”, “Other financial assets”, “Loan receivables”, “Account and other receivables” and “Other receivables” (non-current). Loans and receivables at amortised cost mainly consist of accounts receivable and cash and cash equivalents that are not quoted in an active market and that are not kept for trading purposes. Loans and receivables are measured initially at fair value plus transaction costs, if any, and subsequently, at amortised cost using the effective interest method. An impairment loss is recognized in the statement of comprehensive income if the carrying value of the loan receivable is higher than the estimated recoverable amount. Derivatives The Group uses derivative contracts to hedge interest rate risk. Derivative contracts are initially recognized at fair value and subsequently at fair value. Changes in the fair value of derivative contracts are recognized in financial items through profit or loss, unless they are designated as hedging instruments, in which case they are hedged in accordance with hedge accounting. Hedge accounting can be used to reduce the volatility due to fair value measurement in the income statement. In this case, the asymmetry between the hedging instrument and the hedged item is eliminated when both affect the income statement simultaneously. When starting a hedging relationship subject to hedge accounting, the Group prepares a determination of the hedging relationship. the objective of risk management and the strategy for taking hedging. EUR thousand 3311--DDeecc--2255 3311--DDeecc--2244 CCaarrrryyiinngg aammoouunnttss ooff llooaannss aanndd rreecceeiivvaabblleess Loan receivables 66 120 Account and other receivables 14 604 17 814 Cash and cash equivalents 9 515 9 040 TToottaall ccuurrrreenntt 2244 118855 2266 997744 Loan receivables 63 79 Other receivables 71 278 TToottaall nnoonn--ccuurrrreenntt 113355 335577 TToottaall 2244 331199 2277 333322 Loan receivables originally from related parties Loan receivables previously reported as share loan receivables amounted to EUR 46 thousand as of 31 December 202 5 (2024: EUR 61 thousand). In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connection with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years and the interest rate is 12-month Euribor plus a margin of 0.99%.
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77 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Loan receivables originally from related parties Loan receivables previously reported as share loan receivables amounted to EUR 46 thousand as of 31 December 2025 (2024: EUR 61 thousand). In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connection with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years and the interest rate is 12-month Euribor plus a margin of 0.99%. Loan receivables are measured at amortised cost because the criteria below are met: • the financial asset is held within a business model whose objective is holding financial assets to collect contractual cash flows, and • the terms of contract of the financial asset provide for cash flows at certain times which are solely the payment of the principal and interest on the remaining amount of capital. Account and other receivables are described more detailed in note 5.3. Account and other receivables. Cash and cash equivalents consist of cash at hand and deposits held at call with banks. Derivatives Fair values of derivative financial instruments 2025 The fair values of interest rate swaps and interest rate derivatives are determined as the present value of the future cash flows based on market interest rates on the reporting date. 29 Loan receivables are measured at amortised cost because the criteria below are met: - the financial asset is held within a business model whose objective is holding financial assets to collect contractual cash flows, and - the terms of contract of the financial asset provide for cash flows at certain times which are solely the payment of the principal and interest on the remaining amount of capital. Account and other receivables are described more detailed in note 5.3. Account and other receivables. Cash and cash equivalents consist of cash at hand and deposits held at call with banks. Derivatives FFaaiirr vvaalluueess ooff ddeerriivvaattiivvee ffiinnaanncciiaall iinnssttrruummeennttss 22002255 DDeerriivvaattiivveess ddeessiiggnnaatteedd aass ccaasshh ffllooww hheeddggeess NNoottiioonnaall aammoouunntt FFaaiirr vvaalluuee aasssseettss FFaaiirr vvaalluuee lliiaabbiilliittiieess Interest rate swaps Interest rate swap, EUR thousand 10 000 71 0 FFaaiirr vvaalluueess ooff ddeerriivvaattiivvee ffiinnaanncciiaall iinnssttrruummeennttss 22002244 DDeerriivvaattiivveess ddeessiiggnnaatteedd aass ccaasshh ffllooww hheeddggeess NNoottiioonnaall aammoouunntt FFaaiirr vvaalluuee aasssseettss FFaaiirr vvaalluuee lliiaabbiilliittiieess Interest rate swaps Interest rate swap, EUR thousand 10 000 278 0 The fair values of interest rate swaps and interest rate derivatives are determined as the present value of the future cash flows based on market interest rates on the reporting date. Financial instruments designated as hedging instruments CCaasshh ffllooww hheeddggeess iinn 22002255 MMaattuurriittyy IInntteerreesstt rraattee sswwaappss 22002266 22002277 22002288 22002299 22003300-- TToottaall Hedged item: Floating rate EUR loan Notional amount, EUR thousand 10 000 10 000 Fixed rate 2.313 % 2.313 % Hedge ratio 55.6 % 55.6 % CCaasshh ffllooww hheeddggeess iinn 22002244 MMaattuurriittyy IInntteerreesstt rraattee sswwaappss 22002255 22002266 22002277 22002288 22002299-- TToottaall Hedged item: Floating rate EUR loan Notional amount, EUR thousand 10 000 10 000 Average fixed rate 0.325 % 0.325 % Hedge ratio 51.3 % 51.3 %
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78 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Financial instruments designated as hedging instruments Cash flow hedges in 2025 Cash flow hedges in 2024 Effect of hedging instruments on the statement of financial position and statement of comprehensive income 29 Loan receivables are measured at amortised cost because the criteria below are met: - the financial asset is held within a business model whose objective is holding financial assets to collect contractual cash flows, and - the terms of contract of the financial asset provide for cash flows at certain times which are solely the payment of the principal and interest on the remaining amount of capital. Account and other receivables are described more detailed in note 5.3. Account and other receivables. Cash and cash equivalents consist of cash at hand and deposits held at call with banks. Derivatives FFaaiirr vvaalluueess ooff ddeerriivvaattiivvee ffiinnaanncciiaall iinnssttrruummeennttss 22002255 DDeerriivvaattiivveess ddeessiiggnnaatteedd aass ccaasshh ffllooww hheeddggeess NNoottiioonnaall aammoouunntt FFaaiirr vvaalluuee aasssseettss FFaaiirr vvaalluuee lliiaabbiilliittiieess Interest rate swaps Interest rate swap, EUR thousand 10 000 71 0 FFaaiirr vvaalluueess ooff ddeerriivvaattiivvee ffiinnaanncciiaall iinnssttrruummeennttss 22002244 DDeerriivvaattiivveess ddeessiiggnnaatteedd aass ccaasshh ffllooww hheeddggeess NNoottiioonnaall aammoouunntt FFaaiirr vvaalluuee aasssseettss FFaaiirr vvaalluuee lliiaabbiilliittiieess Interest rate swaps Interest rate swap, EUR thousand 10 000 278 0 The fair values of interest rate swaps and interest rate derivatives are determined as the present value of the future cash flows based on market interest rates on the reporting date. Financial instruments designated as hedging instruments CCaasshh ffllooww hheeddggeess iinn 22002255 MMaattuurriittyy IInntteerreesstt rraattee sswwaappss 22002266 22002277 22002288 22002299 22003300-- TToottaall Hedged item: Floating rate EUR loan Notional amount, EUR thousand 10 000 10 000 Fixed rate 2.313 % 2.313 % Hedge ratio 55.6 % 55.6 % CCaasshh ffllooww hheeddggeess iinn 22002244 MMaattuurriittyy IInntteerreesstt rraattee sswwaappss 22002255 22002266 22002277 22002288 22002299-- TToottaall Hedged item: Floating rate EUR loan Notional amount, EUR thousand 10 000 10 000 Average fixed rate 0.325 % 0.325 % Hedge ratio 51.3 % 51.3 % 29 Loan receivables are measured at amortised cost because the criteria below are met: - the financial asset is held within a business model whose objective is holding financial assets to collect contractual cash flows, and - the terms of contract of the financial asset provide for cash flows at certain times which are solely the payment of the principal and interest on the remaining amount of capital. Account and other receivables are described more detailed in note 5.3. Account and other receivables. Cash and cash equivalents consist of cash at hand and deposits held at call with banks. Derivatives FFaaiirr vvaalluueess ooff ddeerriivvaattiivvee ffiinnaanncciiaall iinnssttrruummeennttss 22002255 DDeerriivvaattiivveess ddeessiiggnnaatteedd aass ccaasshh ffllooww hheeddggeess NNoottiioonnaall aammoouunntt FFaaiirr vvaalluuee aasssseettss FFaaiirr vvaalluuee lliiaabbiilliittiieess Interest rate swaps Interest rate swap, EUR thousand 10 000 71 0 FFaaiirr vvaalluueess ooff ddeerriivvaattiivvee ffiinnaanncciiaall iinnssttrruummeennttss 22002244 DDeerriivvaattiivveess ddeessiiggnnaatteedd aass ccaasshh ffllooww hheeddggeess NNoottiioonnaall aammoouunntt FFaaiirr vvaalluuee aasssseettss FFaaiirr vvaalluuee lliiaabbiilliittiieess Interest rate swaps Interest rate swap, EUR thousand 10 000 278 0 The fair values of interest rate swaps and interest rate derivatives are determined as the present value of the future cash flows based on market interest rates on the reporting date. Financial instruments designated as hedging instruments CCaasshh ffllooww hheeddggeess iinn 22002255 MMaattuurriittyy IInntteerreesstt rraattee sswwaappss 22002266 22002277 22002288 22002299 22003300-- TToottaall Hedged item: Floating rate EUR loan Notional amount, EUR thousand 10 000 10 000 Fixed rate 2.313 % 2.313 % Hedge ratio 55.6 % 55.6 % CCaasshh ffllooww hheeddggeess iinn 22002244 MMaattuurriittyy IInntteerreesstt rraattee sswwaappss 22002255 22002266 22002277 22002288 22002299-- TToottaall Hedged item: Floating rate EUR loan Notional amount, EUR thousand 10 000 10 000 Average fixed rate 0.325 % 0.325 % Hedge ratio 51.3 % 51.3 % 30 EEffffeecctt ooff hheeddggiinngg iinnssttrruummeennttss oonn tthhee ssttaatteemmeenntt ooff ffiinnaanncciiaall ppoossiittiioonn aanndd ssttaatteemmeenntt ooff ccoommpprreehheennssiivvee iinnccoommee EEUURR tthhoouussaanndd 22002255 22002244 Notional amount 10 000 10 000 Assets Carrying amount 71 278 Line item in the statement of financial position Trade and other receivables Trade and other receivables Liabilities Carrying amount 0 0 Line item in the statement of financial position Trade and other payables Trade and other payables Change in value for recognizing hedge ineffectiveness Hedged item -71 -278 Hedged instrument 71 278 Effective portion Amount recognized in other comprehensive income 57 -233 Amount reclassified from the fair value reserve to profit or loss -222 0
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79 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 4.5 Finance Income and Costs Accounting Policy Finance costs consist of interest expenses on bank loans, bank overdrafts and other loans, foreign exchange losses on financing activities. Transaction costs related to loans are expensed in profit or loss using effective interest rate method. The effective interest rate is the rate that discounts the estimated future payments through the expected life of a loan to the net carrying amount of the financial liability. The calculation includes all fees paid by the contracting parties and transac - tion costs. Interest income is recognized using the effective interest rate unless the receipt of interest is uncertain. In such cases the interest income is accounted for on a cash basis. Foreign exchange gains and losses on financing activities are recognized within finance income or costs. 31 44..55 FFiinnaannccee iinnccoommee aanndd ccoossttss AAccccoouunnttiinngg ppoolliiccyy Finance costs consist of interest expenses on bank loans, bank overdrafts and other loans, foreign exchange losses on financing activities. Transaction costs related to loans are expensed in profit or loss using effective interest rate method. The effective interest rate is the rate that discounts the estimated future payments through the expected life of a loan to the net carrying amount of the financial liability. The calculation includes all fees paid by the contracting parties and transaction costs. Interest income is recognized using the effective interest rate unless the receipt of interest is uncertain. In such cases th e interest income is accounted for on a cash basis. Foreign exchange gains and losses on financing activities are recognized within finance income or costs. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 FFiinnaannccee iinnccoommee Foreign exchange gains on financing activities 400 268 Other finance income 68 132 Interest income on cash equivalents 58 53 FFiinnaannccee iinnccoommee ttoottaall 525 453 FFiinnaannccee ccoosstt Foreign exchange losses on financing activities -558 -185 Interest expenses on borrowings -800 -1 208 Interest expenses on lease liabilities -176 -199 Interest expense on deferred consideration -72 -86 Other finance costs -225 -242 FFiinnaannccee ccoosstt ttoottaall -1 831 -1 920 FFiinnaannccee iinnccoommee aanndd ccoossttss ttoottaall --11 330066 --11 446666 44..66 FFiinnaanncciiaall rriisskk aanndd ccaappiittaall mmaannaaggeemmeenntt The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk and cash flow interest rate risk), credit risk and liquidity risk. The Group’s overall risk management program focuses to seek to identify and mitigate potential risks arising from financial markets, customer transactions and liquidity requirements. Risks are identified, assessed, and mitigated as a part of daily management routines. Majority of Group financing is done by Robit Plc, minor investments or working capital needs may be financed locally. The Board of Directors provides principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk and use of derivative financial instruments.
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80 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 4.6 Financial Risk and Capital Management The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk and cash flow interest rate risk), credit risk and liquidity risk. The Group’s overall risk management program focuses to seek to identify and mitigate potential risks arising from financial markets, customer transactions and liquidity requirements. Risks are identified, assessed, and mitigated as a part of daily management routines. Majority of Group financing is done by Robit Plc, minor investments or working capital needs may be financed locally. The Board of Directors provides principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk and use of derivative financial instruments. (a) Market risk (i) Foreign exchange risk The following table demonstrates the sensitivity to a reasonably possible change in the functional currency against the quote currency, with all other variables held constant, of the Group’s profit before tax and equity due to changes in the fair value of financial assets and liabilities. A reasonably possible change is assumed to be a 10% functional currency appreciation or depreciation against the quote currency. A change of a different magnitude can also be estimated reasonably accurately because the sensitivity is nearly linear. The currency sensitivity analysis has been performed by adjusting the subsidiaries’ foreign currency denominated balance sheet items by 10% and examining the resulting effect in the Group’s functional currency (ii) Cash flow interest rate risk The Group’s interest rate risk arises from long-term borrowings. Majority of the Group’s loans are with variables interest rate which expose the Group to cash flow interest rate risk. During the presented periods, the Group’s borrowings at variable rate were denominated in Euro and South Korean Won. The following table illustrates how a reasonably possible change in interest rates, with all other variables held constant, would affect the Group’s profit before taxes as a result of changes in interest expenses on variable rate borrowings. A 50 basis point change is assumed to be a reasonably possible shift. On 31 December 2025, if interest rates had been 50 basis points higher with all other variables held constant, post-tax profit for the year would have been EUR 105 thousand lower as a result of higher interest expense on floating rate interest-bearing liabilities. Interest rate sensitivity has been calculated by shifting the interest curve by 50 basis points. The interest posi- tion includes all external variable rate interest-bearing liabilities. The Group has an interest rate derivative of EUR 10 million to hedge against the risk arising from interest rate fluctuations 32 (a) Market risk (i) Foreign exchange risk The following table demonstrates the sensitivity to a reasonably possible change in the functional currency against the quote currency, with all other variables held constant, of the Group’s profit before tax and equity due to changes in the fair value of financial assets and liabilities. A reasonably possible change is assumed to be a 10% functional currency appreciation or depreciation against the quote currency. A change of a different magnitude can also be estimated reasonably accurately because the sensitivity is nearly linear. The currency sensitivity analysis has been performed by adjusting the subsidiaries’ foreign-currency-denominated balance sheet items by 10% and examining the resulting effect in the Group’s functional currency 3311 DDeecceemmbbeerr 22002255 3311 DDeecceemmbbeerr 22002244 FFuunnccttiioonnaall ccuurrrreennccyy FFuunnccttiioonnaall ccuurrrreennccyy 1100 %% ssttrroonnggeerr 1100 %% wweeaakkeerr 1100 %% ssttrroonnggeerr 1100 %% wweeaakkeerr EEUURR tthhoouussaanndd IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt FFuunnccttiioonnaall ccuurrrreennccyy//QQuuoottee ccuurrrreennccyy EUR/USD -514 514 -532 532 EUR/AUD -114 114 -153 153 EUR/GBP -8 8 -16 16 EUR/KRW 46 -46 0 0 EUR/ZAR -193 193 -13 13 (ii) Cash flow interest rate risk The Group’s interest rate risk arises from long -term borrowings. Majority of the Group’s loans are with variables interest rate which expose the Group to cash flow interest rate risk. During the presented periods, the Group’s borrowings at variable rate were denominated in Euro and South Korean Won. The following table illustrates how a reasonably possible change in interest rates, with all other variables held constant, would affect the Group’s profit before taxes as a result of changes in interest expenses on variable -rate borrowings. A 50-basis-point change is assumed to be a reasonably possible shift . On 31 December 2025, if interest rates had been 50 basis points higher with all other variables held constant, post-tax profit for the year would have bee n EUR 105 thousand lower as a result of higher interest expense on floating rate interest -bearing liabilities. Interest rate sensitivity has been calculated by shifting the interest curve by 50 basis points. The interest position includes all external variable rate interest- bearing liabilities. The Group has an interest rate derivative of EUR 10 million to hedge against the risk arising from interest rate fluctuations 3311 DDeecceemmbbeerr 22002255 3311 DDeecceemmbbeerr 22002244 IInntteerreesstt rraattee IInntteerreesstt rraattee 00,,55 %% hhiigghheerr 00,,55 %% lloowweerr 00,,55 %% hhiigghheerr 00,,55 %% lloowweerr EEUURR tthhoouussaanndd IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt Impact of interest change -105 105 -117 117 (b) Credit risk Credit risk arises mainly from cash and cash equivalents and credit exposures to customers from outstanding receivables. Credit risk on cash and cash equivalents is managed at group level. Cash and cash equivalents are held in reputable mainly Nordic banks. Each local entity is responsible for managing the credit risk for their account receivables balances. The local 32 (a) Market risk (i) Foreign exchange risk The following table demonstrates the sensitivity to a reasonably possible change in the functional currency against the quote currency, with all other variables held constant, of the Group’s profit before tax and equity due to changes in the fair value of financial assets and liabilities. A reasonably possible change is assumed to be a 10% functional currency appreciation or depreciation against the quote currency. A change of a different magnitude can also be estimated reasonably accurately because the sensitivity is nearly linear. The currency sensitivity analysis has been performed by adjusting the subsidiaries’ foreign-currency-denominated balance sheet items by 10% and examining the resulting effect in the Group’s functional currency 3311 DDeecceemmbbeerr 22002255 3311 DDeecceemmbbeerr 22002244 FFuunnccttiioonnaall ccuurrrreennccyy FFuunnccttiioonnaall ccuurrrreennccyy 1100 %% ssttrroonnggeerr 1100 %% wweeaakkeerr 1100 %% ssttrroonnggeerr 1100 %% wweeaakkeerr EEUURR tthhoouussaanndd IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt FFuunnccttiioonnaall ccuurrrreennccyy//QQuuoottee ccuurrrreennccyy EUR/USD -514 514 -532 532 EUR/AUD -114 114 -153 153 EUR/GBP -8 8 -16 16 EUR/KRW 46 -46 0 0 EUR/ZAR -193 193 -13 13 (ii) Cash flow interest rate risk The Group’s interest rate risk arises from long -term borrowings. Majority of the Group’s loans are with variables interest rate which expose the Group to cash flow interest rate risk. During the presented periods, the Group’s borrowings at variable rate were denominated in Euro and South Korean Won. The following table illustrates how a reasonably possible change in interest rates, with all other variables held constant, would affect the Group’s profit before taxes as a result of changes in interest expenses on variable -rate borrowings. A 50-basis-point change is assumed to be a reasonably possible shift . On 31 December 2025, if interest rates had been 50 basis points higher with all other variables held constant, post-tax profit for the year would have bee n EUR 105 thousand lower as a result of higher interest expense on floating rate interest -bearing liabilities. Interest rate sensitivity has been calculated by shifting the interest curve by 50 basis points. The interest position includes all external variable rate interest- bearing liabilities. The Group has an interest rate derivative of EUR 10 million to hedge against the risk arising from interest rate fluctuations 3311 DDeecceemmbbeerr 22002255 3311 DDeecceemmbbeerr 22002244 IInntteerreesstt rraattee IInntteerreesstt rraattee 00,,55 %% hhiigghheerr 00,,55 %% lloowweerr 00,,55 %% hhiigghheerr 00,,55 %% lloowweerr EEUURR tthhoouussaanndd IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt IInnccoommee ssttaatteemmeenntt Impact of interest change -105 105 -117 117 (b) Credit risk Credit risk arises mainly from cash and cash equivalents and credit exposures to customers from outstanding receivables. Credit risk on cash and cash equivalents is managed at group level. Cash and cash equivalents are held in reputable mainly Nordic banks. Each local entity is responsible for managing the credit risk for their account receivables balances. The local
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81 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 (b) Credit risk Credit risk arises mainly from cash and cash equivalents and credit exposures to customers from outstanding receivables. Credit risk on cash and cash equivalents is managed at group level. Cash and cash equivalents are held in reputable mainly Nordic banks. Each local entity is responsible for managing the credit risk for their account receivables balances. The local entities have the responsibility to analyse the credit standing of each of their new clients before standard payment and delivery terms and conditions are offered. Before accepting a customer, the customer’s ability to pay the purchase transactions is carefully estimated through analysing customer’s financial statements and current market position. Credit risk countering payment methods such as letter of credit and advance payments are used in high-risk regions. The Group has been able to collect also significantly overdue receivables eventually. The maximum exposure to the credit risk at the reporting dates are the carrying values of each class of financial assets mentioned above. Key Judgements and Estimates - Overdue Receivables The Group applies the simplified approach defined in IFRS 9 for the recognition of expected credit losses, according to which lifetime expected losses can be recognised for all trade receivables. For the purpose of determining expected credit losses, trade receivables are classified on the basis of shared credit risk characteristics and delayed payment. Expected loss rates are based on sales payment profiles over a 12-month period before 31 December 2025 and on actual credit losses incurred during that period. Actual loss rates are adjusted to reflect current and future-oriented information and macroeconomic factors that affect the ability of customers to make a payment of receivables. The aging of the account receivables including bad debt provision deducted is as follows: The Group only has one type of financial assets subject to the expected credit loss model: trade receivables from sales of product and maintenance services. Although cash and cash equivalents and liabilities recognised at amortised cost are also subject to impairment testing under IFRS 9, the impairment loss observed is not material. Based on this, entries reducing the carrying amount of trade receivables were made, amounting to EUR 132 thousand in the end of finan- cial year 2025 and EUR 590 thousand in the end of financial year 2024. For the calculation of the impairment of trade receivables, see Note 5.3. 33 entities have the responsibility to analyse the credit standing of each of their new clients before standard payment and delivery terms and conditions are offered. Before accepting a customer, the customer’s ability to pay the purchase transactions is carefully estimated through analysing customer’s financial statements and current market position. Credit risk countering payment methods such as letter of credit and advance payments are used in high-risk regions. The Group has been able to collect also significantly overdue receivables eventually. The maximum exposure to the credit risk at the reporting dates are the carrying values of each class of financial assets mentioned above. The aging of the account receivables including bad debt provision deducted is as follows: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Not due 9 791 12 719 Overdue by Less than 30 days 1 410 1 187 30-60 days 843 709 61-90 days 324 331 More than 90 days 655 709 TToottaall 1133 002222 1155 665555 The Group only has one type of financial assets subject to the expected credit loss model: trade receivables from sales of product and maintenance services. Although cash and cash equivalents and liabilities recognised at amortised cost are also subject to impairment testing under IFRS 9, the impairment loss observed is not material. Based on this, entries reducing the carrying amount of trade receivables were made, amounting to EUR 132 thousand in the end of financial year 2025 and EUR 590 thousand in the end of financial year 2024. For the calculation of the impairment of trade receivables, see Note 5.3. The ageing analysis of the bad debt provision is as follows: AAggeeiinngg 22002255 NNoott dduuee LLeessss tthhaann 3300 ddaayyss 3300––6600 ddaayyss 6611––9911 ddaayyss MMoorree tthhaann 9900 ddaayyss TToottaall Bad debt provision, EUR thousand 11 10 17 15 80 113322 Bad debt provision 0,11 % 0,72 % 1,97 % 4,77 % 10,12 % KKeeyy jjuuddggeemmeennttss aanndd eessttiimmaatteess -- OOvveerrdduuee rreecceeiivvaabblleess The Group applies the simplified approach defined in IFRS 9 for the recognition of expected credit losses, according to which lifetime expected losses can be recognised for all trade receivables. For the purpose of determining expected credit losses, trade receivables are classified on the basis of shared credit risk characteristics and delayed payment. Expected loss rates are based on sales payment profiles over a 12-month period before 31 December 2025 and on actual credit losses incurred during that period. Actual loss rates are adjusted to reflect current and future-oriented information and macroeconomic factors that affect the ability of customers to make a payment of receivables.
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82 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 The ageing analysis of the bad debt provision is as follows: (c) Liquidity risk Cash flow forecasting is performed in the Group’s finance function. Group finance function monitors the Group’s liquidity require - ments weekly to ensure it has sufficient cash to meet operational needs while always maintaining sufficient headroom on its undrawn committed facilities. Cash and cash equivalents amounted to EUR 9 515 thousand as of 31 December 2025 (2024: EUR 9 040 thousand). Operating cash flows and liquid funds are the main source of financing for the future payments together with possible new debt or equity financing. Covenants on the Group’s interest-bearing financial liability drawn-down in 2025 are monitored regularly. The financial covenants are the equity ratio and the net debt in relation to EBITDA. The minimum equity ratio is agreed to be 30.0 %. Minimum net debt to adjusted EBITDA ratio was defined to be 3.5 on 31 December 2025 review date. The covenant of Robit Oyj's financing agreement, interest-bearing net debt/EBITDA, was 2.91 and thus all terms of the financing agreement have been fulfilled as of 31 December 2025. The Group’s equity ratio 52.0 % as of 31 December 2025 (2024: 50.7 %) is strong and the Group is able to draw external financing in case that operational cash flows are not sufficient. The Group does not invest actively surplus cash held. The Group’s target is to achieve both organic and structural growth and cash balances are directed to those purposes. The table below analyses the Group’s non-derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. 33 entities have the responsibility to analyse the credit standing of each of their new clients before standard payment and delivery terms and conditions are offered. Before accepting a customer, the customer’s ability to pay the purchase transactions is carefully estimated through analysing customer’s financial statements and current market position. Credit risk countering payment methods such as letter of credit and advance payments are used in high-risk regions. The Group has been able to collect also significantly overdue receivables eventually. The maximum exposure to the credit risk at the reporting dates are the carrying values of each class of financial assets mentioned above. The aging of the account receivables including bad debt provision deducted is as follows: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Not due 9 791 12 719 Overdue by Less than 30 days 1 410 1 187 30-60 days 843 709 61-90 days 324 331 More than 90 days 655 709 TToottaall 1133 002222 1155 665555 The Group only has one type of financial assets subject to the expected credit loss model: trade receivables from sales of product and maintenance services. Although cash and cash equivalents and liabilities recognised at amortised cost are also subject to impairment testing under IFRS 9, the impairment loss observed is not material. Based on this, entries reducing the carrying amount of trade receivables were made, amounting to EUR 132 thousand in the end of financial year 2025 and EUR 590 thousand in the end of financial year 2024. For the calculation of the impairment of trade receivables, see Note 5.3. The ageing analysis of the bad debt provision is as follows: AAggeeiinngg 22002255 NNoott dduuee LLeessss tthhaann 3300 ddaayyss 3300––6600 ddaayyss 6611––9911 ddaayyss MMoorree tthhaann 9900 ddaayyss TToottaall Bad debt provision, EUR thousand 11 10 17 15 80 113322 Bad debt provision 0,11 % 0,72 % 1,97 % 4,77 % 10,12 % KKeeyy jjuuddggeemmeennttss aanndd eessttiimmaatteess -- OOvveerrdduuee rreecceeiivvaabblleess The Group applies the simplified approach defined in IFRS 9 for the recognition of expected credit losses, according to which lifetime expected losses can be recognised for all trade receivables. For the purpose of determining expected credit losses, trade receivables are classified on the basis of shared credit risk characteristics and delayed payment. Expected loss rates are based on sales payment profiles over a 12-month period before 31 December 2025 and on actual credit losses incurred during that period. Actual loss rates are adjusted to reflect current and future-oriented information and macroeconomic factors that affect the ability of customers to make a payment of receivables. 34 AAggeeiinngg 22002244 NNoott dduuee LLeessss tthhaann 3300 ddaayyss 3300––6600 ddaayyss 6611––9911 ddaayyss MMoorree tthhaann 9900 ddaayyss TToottaall Bad debt provision, EUR thousand 18 14 21 22 515 559900 Bad debt provision 0,14 % 1,20 % 2,99 % 6,51 % 36,82 % (c) Liquidity risk Cash flow forecasting is performed in the Group’s finance function. Group finance function monitors the Group’s liquidity requirements weekly to ensure it has sufficient cash to meet operational needs while always maintaining sufficient headroom on its undrawn committed facilities . Cash and cash equivalents amounted to EUR 9 515 thousand as of 31 December 2025 (2024: EUR 9 040 thousand). Operating cash flows and liquid funds are the main source of financing for the future payments together with possible new debt or equity financing. Covenants on the Group’s interest -bearing financial liability drawn-down in 20 25 are monitored regularly. The financial covenants are the equity ratio and the net debt in relation to EBITDA. The minimum equity ratio is agreed to be 3 0.0 %. Minimum net debt to adjusted EBITDA ratio was defined to be 3.5 on 31 December 2025 review date. The covenant of Robit Oyj's financing agreement, interest-bearing net debt/EBITDA, was 2.91 and thus all terms of the financing agreement have been fulfilled as of 31 December 2025. The Group’s equity ratio 52.0 % as of 31 December 2025 (2024: 50.7 %) is strong and the Group is able to draw external financing in case that operational cash flows are not sufficient. The Group does not invest actively surplus cash held. The Group’s target is to achieve both organic and structural growth and cash balances are directed to those purposes. The table below analyses the Group’s non -derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. EEUURR tthhoouussaanndd LLeessss tthhaann 66 mmoonntthhss 66 –– 1122 mmoonntthhss BBeettwweeeenn 11 aanndd 22 yyeeaarrss BBeettwweeeenn 22 aanndd 55 yyeeaarrss OOvveerr 55 yyeeaarrss TToottaall ccoonnttrraaccttuuaall ccaasshh fflloowwss CCaarrrryyiinngg aammoouunntt ((aasssseettss))// lliiaabbiilliittiieess 3311--DDeecc--2255 FFiinnaanncciiaall lliiaabbiilliittiieess Account payables 11 697 0 0 0 0 11 697 11 697 Lease liabilities 841 855 1 521 283 91 3 591 3 396 Loans from credit institutions 3 745 2 045 3 927 10 498 3 052 23 266 21 148 Other loans 0 12 0 0 0 12 12 TToottaall ffiinnaanncciiaall lliiaabbiilliittiieess 1166 228833 22 991122 55 444477 1100 778811 33 114433 3388 556666 3366 225533
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83 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Capital management Robit defines capital as equity plus borrowings, as shown on the balance sheet per 31 December 2025, EUR 67 162 thousand (2024 EUR 73 528 thousand). Robit’s capital management’s target is to keep capital structure that supports the business by ensuring the operating conditions and to increase shareholder value by aiming at a competitive return on invested capital. The capital structure shall cover both current and future business needs, as well as ensure competitive cost of financing. Robit board monitors equity ratio and net inter- est-bearing debt to EBITDA ratio, which are the covenant terms according to Robit Plc's financing agreement. The equity ratio is calcu - lated as shareholders' equity divided by total assets less advances received. The company has agreed with its main financier that Other financial assets are included in the calculation of Net liabilities. The capital structure can be affected, among other things, by the dividend distribution and share issues. If necessary, Robit can acquire own shares and issue new shares in accordance with mandates by General Meeting. The Group's equity ratio was 52.0 (2024: 50.7) per cent and the ratio of net debt to adjusted EBITDA was 2.91 as of 31 December 2025, calculated as per the covenant terms of the financing agreement of the parent company. Cooperation with banks is based on long-term banking relationships. In the long-term, goal is to service Robit’s loan obligations by oper- ating cash flow. During the phase of rapid growth, capital may be acquired both equity and debt financing terms. 34 AAggeeiinngg 22002244 NNoott dduuee LLeessss tthhaann 3300 ddaayyss 3300––6600 ddaayyss 6611––9911 ddaayyss MMoorree tthhaann 9900 ddaayyss TToottaall Bad debt provision, EUR thousand 18 14 21 22 515 559900 Bad debt provision 0,14 % 1,20 % 2,99 % 6,51 % 36,82 % (c) Liquidity risk Cash flow forecasting is performed in the Group’s finance function. Group finance function monitors the Group’s liquidity requirements weekly to ensure it has sufficient cash to meet operational needs while always maintaining sufficient headroom on its undrawn committed facilities . Cash and cash equivalents amounted to EUR 9 515 thousand as of 31 December 2025 (2024: EUR 9 040 thousand). Operating cash flows and liquid funds are the main source of financing for the future payments together with possible new debt or equity financing. Covenants on the Group’s interest -bearing financial liability drawn-down in 20 25 are monitored regularly. The financial covenants are the equity ratio and the net debt in relation to EBITDA. The minimum equity ratio is agreed to be 3 0.0 %. Minimum net debt to adjusted EBITDA ratio was defined to be 3.5 on 31 December 2025 review date. The covenant of Robit Oyj's financing agreement, interest-bearing net debt/EBITDA, was 2.91 and thus all terms of the financing agreement have been fulfilled as of 31 December 2025. The Group’s equity ratio 52.0 % as of 31 December 2025 (2024: 50.7 %) is strong and the Group is able to draw external financing in case that operational cash flows are not sufficient. The Group does not invest actively surplus cash held. The Group’s target is to achieve both organic and structural growth and cash balances are directed to those purposes. The table below analyses the Group’s non -derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. EEUURR tthhoouussaanndd LLeessss tthhaann 66 mmoonntthhss 66 –– 1122 mmoonntthhss BBeettwweeeenn 11 aanndd 22 yyeeaarrss BBeettwweeeenn 22 aanndd 55 yyeeaarrss OOvveerr 55 yyeeaarrss TToottaall ccoonnttrraaccttuuaall ccaasshh fflloowwss CCaarrrryyiinngg aammoouunntt ((aasssseettss))// lliiaabbiilliittiieess 3311--DDeecc--2255 FFiinnaanncciiaall lliiaabbiilliittiieess Account payables 11 697 0 0 0 0 11 697 11 697 Lease liabilities 841 855 1 521 283 91 3 591 3 396 Loans from credit institutions 3 745 2 045 3 927 10 498 3 052 23 266 21 148 Other loans 0 12 0 0 0 12 12 TToottaall ffiinnaanncciiaall lliiaabbiilliittiieess 1166 228833 22 991122 55 444477 1100 778811 33 114433 3388 556666 3366 225533 35 EEUURR tthhoouussaanndd LLeessss tthhaann 66 mmoonntthhss 66 –– 1122 mmoonntthhss BBeettwweeeenn 11 aanndd 22 yyeeaarrss BBeettwweeeenn 22 aanndd 55 yyeeaarrss OOvveerr 55 yyeeaarrss TToottaall ccoonnttrraaccttuuaall ccaasshh fflloowwss CCaarrrryyiinngg aammoouunntt ((aasssseettss))// lliiaabbiilliittiieess 3311--DDeecc--2244 FFiinnaanncciiaall lliiaabbiilliittiieess Account payables 13 526 0 0 0 0 13 526 13 526 Lease liabilities 835 605 1 723 1 053 112 4 327 4 041 Loans from credit institutions 4 157 2 514 4 552 11 197 4 667 27 086 23 503 Bank overdrafts 105 0 0 0 0 105 105 Other loans 0 12 0 0 0 12 12 TToottaall ffiinnaanncciiaall lliiaabbiilliittiieess 1188 662233 33 113311 66 227755 1122 225500 44 777799 4455 005566 4411 118877 CCaappiittaall mmaannaaggeemmeenntt Robit defines capital as equity plus borrowings, as shown on the balance sheet per 31 December 2025, EUR 67 162 thousand (2024 EUR 73 528 thousand). Robit’s capital management’s target is to keep capital structure that supports the business by ensuring the operating conditions and to increase shareholder value by aiming at a competitive return on invested capital. The capital structure shall cover both current and future business needs, as well as ensure competitive cost of financing. Robit board monitors equity ratio and net interest-bearing debt to EBITDA ratio, which are the covenant terms according to Robit Plc's financing agreement. The equity ratio is calculated as shareholders' equity divided by total assets less advances received. The company has agreed with its main financier that Other financial assets are included in the calculation of Net liabilities. The capital structure can be affected, among other things, by the dividend distribution and share issues. If necessary, Robit can acquire own shares and issue new shares in accordance with mandates by General Meeting. The Group's equity ratio was 52.0 (2024: 50.7) per cent and the ratio of net debt to adjusted EBITDA was 2.91 as of 31 December 2025, calculated as per the covenant terms of the financing agreement of the parent company. Cooperation with banks is based on long -term banking relationships. In the long- term, goal is to service Robit’s loan obligations by operating cash flow. During the phase of rapid growth, capital may be acquired both equity and debt financing terms. 44..77 CCoommmmiittmmeennttss aanndd ccoonnttiinnggeenntt lliiaabbiilliittiieess EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Guarantees and mortgages given on own behalf: Enterprise mortgages 40 862 41 012 Real estate mortgages 7 112 5 029 TToottaall 4477 997744 4466 004411 EUR thousand 3311--DDeecc--2255 3311--DDeecc--2244 Other guarantee liabilities 86 89 TToottaall 8866 8899 The mortgages have been given to the main financier of the parent company and the financiers of Robit Korea.
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84 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 4.7 Commitments and Contingent Liabilities The mortgages have been given to the main financier of the parent company and the financiers of Robit Korea. Lease commitments Robit leases factory buildings and land areas in Australia, UK, and Korea under non-cancellable operating lease agreements. Robit leases also some office space under non-cancellable operating lease agreements. The lease terms vary from one year to circa twenty years. Robit also leases cars, office equipment and forklifts under non-cancellable operating lease agreements where the lease term varies from one year to five years. Obligations arising from these lease agreements are listed as liabilities in the balance sheet in accordance with IFRS 16, apart from liabil- ities arising from short-term and low-value contracts. Investments in real estate The Group is obligated to revise the deductions it has made for the real estate investment completed in 2017 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2026. The maximum amount of the liability amounts to EUR 18 thousand. The Group is obligated to revise the deductions it has made for the real estate investment completed in 2018 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2027. The maximum amount of the liability amounts to EUR 7 thousand. The Group is obligated to revise the deductions it has made for the real estate investment completed in 2021 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2030. The maximum amount of the liability amounts to EUR 103 thousand. The Group is obligated to revise the deductions it has made for the real estate investment completed in 2022 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2031. The maximum amount of the liability amounts to EUR 8 thousand. The Group is obligated to revise the deductions it has made for the real estate investment completed in 2024 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2033. The maximum amount of the liability amounts to EUR 3 thousand. 35 EEUURR tthhoouussaanndd LLeessss tthhaann 66 mmoonntthhss 66 –– 1122 mmoonntthhss BBeettwweeeenn 11 aanndd 22 yyeeaarrss BBeettwweeeenn 22 aanndd 55 yyeeaarrss OOvveerr 55 yyeeaarrss TToottaall ccoonnttrraaccttuuaall ccaasshh fflloowwss CCaarrrryyiinngg aammoouunntt ((aasssseettss))// lliiaabbiilliittiieess 3311--DDeecc--2244 FFiinnaanncciiaall lliiaabbiilliittiieess Account payables 13 526 0 0 0 0 13 526 13 526 Lease liabilities 835 605 1 723 1 053 112 4 327 4 041 Loans from credit institutions 4 157 2 514 4 552 11 197 4 667 27 086 23 503 Bank overdrafts 105 0 0 0 0 105 105 Other loans 0 12 0 0 0 12 12 TToottaall ffiinnaanncciiaall lliiaabbiilliittiieess 1188 662233 33 113311 66 227755 1122 225500 44 777799 4455 005566 4411 118877 CCaappiittaall mmaannaaggeemmeenntt Robit defines capital as equity plus borrowings, as shown on the balance sheet per 31 December 2025, EUR 67 162 thousand (2024 EUR 73 528 thousand). Robit’s capital management’s target is to keep capital structure that supports the business by ensuring the operating conditions and to increase shareholder value by aiming at a competitive return on invested capital. The capital structure shall cover both current and future business needs, as well as ensure competitive cost of financing. Robit board monitors equity ratio and net interest-bearing debt to EBITDA ratio, which are the covenant terms according to Robit Plc's financing agreement. The equity ratio is calculated as shareholders' equity divided by total assets less advances received. The company has agreed with its main financier that Other financial assets are included in the calculation of Net liabilities. The capital structure can be affected, among other things, by the dividend distribution and share issues. If necessary, Robit can acquire own shares and issue new shares in accordance with mandates by General Meeting. The Group's equity ratio was 52.0 (2024: 50.7) per cent and the ratio of net debt to adjusted EBITDA was 2.91 as of 31 December 2025, calculated as per the covenant terms of the financing agreement of the parent company. Cooperation with banks is based on long -term banking relationships. In the long- term, goal is to service Robit’s loan obligations by operating cash flow. During the phase of rapid growth, capital may be acquired both equity and debt financing terms. 44..77 CCoommmmiittmmeennttss aanndd ccoonnttiinnggeenntt lliiaabbiilliittiieess EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Guarantees and mortgages given on own behalf: Enterprise mortgages 40 862 41 012 Real estate mortgages 7 112 5 029 TToottaall 4477 997744 4466 004411 EUR thousand 3311--DDeecc--2255 3311--DDeecc--2244 Other guarantee liabilities 86 89 TToottaall 8866 8899 The mortgages have been given to the main financier of the parent company and the financiers of Robit Korea.
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85 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 5 Operating Assets and Liabilities 5.1 Property, Plant and Equipment Accounting Policy Property, plant and equipment is initially recognized at historical cost which comprises of the purchase price and other expenditures directly related to the acquisition that are necessary for bringing the asset to its operating condi- tion and location. Items of property, plant and equipment are carried in the balance sheet at cost less any accumu- lated depreciation and any accumulated impairment losses. Items of property, plant and equipment leased under the lease terms are accounted for similarly to purchased property, plant and equipment. Repair and maintenance costs are recognized as expenses at the time they incur. Depreciation on property, plant and equipment is calculated using the straight-line method over their estimated useful lives, as follows: Years Buildings and structures 10-30 Machinery and equipment 5-15 Other tangible assets 5-10 The assets’ useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. Gains or losses on disposal of property, plant and equipment are included either within other operating income or other operating expenses in the statement of comprehensive income. Property, plant and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. Key Judgements and Estimates The group follows a guideline based on the IFRS 16 standard for determining the lease period. In determining the expected rental period, the financial effects of sanctions included in rental agreements, for example related to early termination of the agreement, have been considered. The options to extend and terminate the rental period have been considered when defining the length of the rental period according to the standard guidelines. The exten - sion option is included in the rental period if it is reasonably certain that the extension option will be used, and corre- spondingly, if it is reasonably certain that the termination option will not be used, the period covered by the option is included in the rental period. When the contract includes a lease component and, in addition, a non-lease contract component, the group separates non-lease contract components, such as maintenance, services, etc., at the separate prices mentioned in the lease contracts or based on an estimate.
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86 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 * Other changes relate to adjustment between acquisition cost and accumulated depreciation. 38 EEUURR TThhoouussaanndd LLaanndd BBuuiillddiinnggss aanndd ccoonnssttrruuccttiioonnss MMaacchhiinneerryy aanndd eeqquuiippmmeenntt OOtthheerr ttaannggiibbllee aasssseettss AAddvvaanncceess ppaaiidd aanndd ccoonnssttrruuccttiioonn iinn pprrooggrreessss TToottaall 22002255 CCoosstt oonn 11 JJaannuuaarryy 445533 1144 992288 2222 990000 22 552200 99 4400 881111 Additions 3 486 641 357 365 1 853 Disposals 0 0 -109 -321 0 -431 Reclassifications 0 151 22 28 -200 0 Exchange differences -25 -672 -1 304 -142 -10 -2 153 CCoosstt oonn 3311 DDeecceemmbbeerr 443311 1144 889944 2222 115500 22 444411 116644 4400 008800 AAccccuummuullaatteedd ddeepprreecciiaattiioonn aanndd iimmppaaiirrmmeenntt oonn 11 JJaannuuaarryy --117766 --66 009922 --1166 882244 --11 996622 00 --2255 005544 Depreciation -6 -1 009 -2 173 -337 0 -3 252 Reclassifications 0 0 -29 29 0 0 Disposals and impairment 0 0 54 298 0 352 Exchange differences 17 210 1 018 107 0 1 352 AAccccuummuullaatteedd ddeepprreecciiaattiioonn aanndd iimmppaaiirrmmeenntt oonn 3311 DDeecceemmbbeerr --116644 --66 889911 --1177 995533 --11 886677 00 --2266 887755 NNeett bbooookk aammoouunntt oonn 11 JJaannuuaarryy 229988 1100 999966 77 667722 559944 11 1199 556611 NNeett bbooookk aammoouunntt oonn 3311 DDeecceemmbbeerr 226666 88 000033 44 119977 557755 116644 1133 220044 EEUURR tthhoouussaanndd LLaanndd BBuuiillddiinnggss aanndd ccoonnssttrruuccttiioonnss MMaacchhiinneerryy aanndd eeqquuiippmmeenntt OOtthheerr ttaannggiibbllee aasssseettss AAddvvaanncceess ppaaiidd aanndd ccoonnssttrruuccttiioonn iinn pprrooggrreessss TToottaall 22002244 CCoosstt oonn 11 JJaannuuaarryy 447799 1199 336633 2255 223333 22 337766 11 4477 445533 Other changes* 0 -862 -40 -67 0 -970 Additions 0 773 1 019 293 40 2 125 Disposals -8 -4 073 -2 737 -148 -1 -6 968 Reclassifications 0 0 -41 71 -31 0 Exchange differences -18 -272 -534 -5 0 -829 CCoosstt oonn 3311 DDeecceemmbbeerr 445533 1144 992288 2222 990000 22 552200 99 4400 881111 AAccccuummuullaatteedd ddeepprreecciiaattiioonn aanndd iimmppaaiirrmmeenntt oonn 11 JJaannuuaarryy --118822 --88 336677 --1177 556611 --11 778822 00 --2277 889922 Other changes* 0 862 40 67 0 970 Depreciation -7 -1 129 -2 307 -324 0 -3 767 Reclassifications 0 0 71 -71 0 0 Disposals and impairment 0 2 522 2 619 144 0 5 285 Exchange differences 12 21 313 5 0 351 AAccccuummuullaatteedd ddeepprreecciiaattiioonn aanndd iimmppaaiirrmmeenntt oonn 3311 DDeecceemmbbeerr --117766 --66 009922 --1166 882244 --11 996622 00 --2255 005544 NNeett bbooookk aammoouunntt oonn 11 JJaannuuaarryy 229988 1100 999966 77 667722 559944 11 1199 556611 NNeett bbooookk aammoouunntt oonn 3311 DDeecceemmbbeerr 227788 88 883377 66 007766 555588 99 1155 775577 * Other changes relate to adjustment between acquisition cost and accumulated depreciation.
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87 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Buildings comprise the factory building in Finland and some structures in Korea. Main part of machinery and equipment relates to production machinery. Other tangible assets include mainly Korean leasehold improvements. Assets leased under leases Refer to note 4.5 for disclosure of interest expenses on lease liabilities. Refer to note 4.6 (c) for disclosure of lease liability ageing analysis. Refer to note 4.7. for disclosure of contractual obligations to purchase. Right-of-use assets 39 Right-of-use assets RRiigghhtt--ooff--uussee aasssseettss EEUURR tthhoouussaanndd LLaanndd BBuuiillddiinnggss aanndd ccoonnssttrruuccttiioonnss MMaacchhiinneerryy aanndd eeqquuiippmmeenntt OOtthheerr ttaannggiibbllee aasssseettss TToottaall LLeeaassee lliiaabbiilliittiieess As of 1 January 2025 82 1 481 1 441 323 3 328 4 041 Additions 3 486 190 213 892 892 Disposals 0 0 -55 -24 -79 -75 Depreciation -6 -660 -694 -174 -1 535 0 Exchange differences -8 -59 -3 -17 -87 -103 Interest expense 0 0 0 0 0 174 Payments 0 0 0 0 0 -1 532 AAss ooff 3311 DDeecceemmbbeerr 22002255 71 1 248 878 322 2 518 3 396 RRiigghhtt--ooff--uussee aasssseettss EEUURR tthhoouussaanndd LLaanndd BBuuiillddiinnggss aanndd ccoonnssttrruuccttiioonnss MMaacchhiinneerryy aanndd eeqquuiippmmeenntt OOtthheerr ttaannggiibbllee aasssseettss TToottaall LLeeaassee lliiaabbiilliittiieess As of 1 January 2024 110033 22 882288 11 337722 228888 44 559911 55 223300 Additions 0 761 697 235 1 694 1 694 Disposals -8 -1 379 0 0 -1 387 -1 464 Depreciation -7 -772 -626 -193 -1 598 0 Exchange differences -6 42 -2 -7 27 49 Interest expense 0 0 0 0 0 198 Payments 0 0 0 0 0 -1 666 AAss ooff 3311 DDeecceemmbbeerr 22002244 82 1 481 1 441 323 3 328 4 041 Buildings comprise the factory building in Finland and some structures in Korea. Main part of machinery and equipment relates to production machinery. Other tangible assets include mainly Korean leasehold improvements. Assets leased under leases Refer to note 4.5 for disclosure of interest expenses on lease liabilities. Refer to note 4.6 (c) for disclosure of lease liability ageing analysis. Refer to note 4.7. for disclosure of contractual obligations to purchase. 39 Right-of-use assets RRiigghhtt--ooff--uussee aasssseettss EEUURR tthhoouussaanndd LLaanndd BBuuiillddiinnggss aanndd ccoonnssttrruuccttiioonnss MMaacchhiinneerryy aanndd eeqquuiippmmeenntt OOtthheerr ttaannggiibbllee aasssseettss TToottaall LLeeaassee lliiaabbiilliittiieess As of 1 January 2025 82 1 481 1 441 323 3 328 4 041 Additions 3 486 190 213 892 892 Disposals 0 0 -55 -24 -79 -75 Depreciation -6 -660 -694 -174 -1 535 0 Exchange differences -8 -59 -3 -17 -87 -103 Interest expense 0 0 0 0 0 174 Payments 0 0 0 0 0 -1 532 AAss ooff 3311 DDeecceemmbbeerr 22002255 71 1 248 878 322 2 518 3 396 RRiigghhtt--ooff--uussee aasssseettss EEUURR tthhoouussaanndd LLaanndd BBuuiillddiinnggss aanndd ccoonnssttrruuccttiioonnss MMaacchhiinneerryy aanndd eeqquuiippmmeenntt OOtthheerr ttaannggiibbllee aasssseettss TToottaall LLeeaassee lliiaabbiilliittiieess As of 1 January 2024 110033 22 882288 11 337722 228888 44 559911 55 223300 Additions 0 761 697 235 1 694 1 694 Disposals -8 -1 379 0 0 -1 387 -1 464 Depreciation -7 -772 -626 -193 -1 598 0 Exchange differences -6 42 -2 -7 27 49 Interest expense 0 0 0 0 0 198 Payments 0 0 0 0 0 -1 666 AAss ooff 3311 DDeecceemmbbeerr 22002244 82 1 481 1 441 323 3 328 4 041 Buildings comprise the factory building in Finland and some structures in Korea. Main part of machinery and equipment relates to production machinery. Other tangible assets include mainly Korean leasehold improvements. Assets leased under leases Refer to note 4.5 for disclosure of interest expenses on lease liabilities. Refer to note 4.6 (c) for disclosure of lease liability ageing analysis. Refer to note 4.7. for disclosure of contractual obligations to purchase.
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88 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 5.2 Inventories Accounting Policy Materials and supplies, work in progress and finished goods are stated at the lower of cost and net realizable value. The cost of inventories comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. The costs of purchase of inventories comprise the purchase price, import duties and other taxes, transport, handling and other costs directly attributable to the acquisition of finished goods, materials and services. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase. The costs of conversion of inventories include direct materials, direct labour and an appropriate propor - tion of variable and fixed overhead expenditure, the latter being allocated on the basis of normal operating capacity. Costs are determined using weighted average costs. Key Judgements and Estimates - Inventory Valuation Inventory valuation requires management estimates and judgements specially relating to obsolescence and recording inventory to net realizable value based on expected selling prices as well as the management’s assessment of the general market development in the Robit’s main markets. Net realizable value is the estimated selling price in the ordi- nary course of business less the estimated costs of completion and the estimated costs necessary to complete the sales. The inventories include mainly raw materials used in the production and finished products, such as button bits, drilling rods, casing systems hammer components and assembled hammers. Inventory of finished goods include obsolescence provision of EUR 1 295 thou- sand. The increase of the provision was EUR 286 thousand and the release EUR 272 thousand due to the sale of slow-moving inventories and scrapping of unsalable inventories, in respect of which the risk of obsolescence has been reduced. Movements in the provision for obsolescence of inventory that are assessed for impairment are as follows: 40 55..22 IInnvveennttoorriieess AAccccoouunnttiinngg ppoolliiccyy Materials and supplies, work in progress and finished goods are stated at the lower of cost and net realizable value. The cost of inventories comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. The costs of purchase of inventories comprise the purchase price, import duties and other taxes, transport, handling and other costs directly attributable to the acquisition of finished goods, materials and services. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase. The costs of conversion of inventories include direct materials, direct labour and an appropriate proportion of variable and fixed overhead expenditure, the latter being allocated on the basis of normal operating capacity. Costs are determined using weighted average costs. EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Materials and supplies 11 446 5 645 Work in progress 1 549 1 865 Finished goods 24 792 32 723 TToottaall 3377 778866 4400 223322 The inventories include mainly raw materials used in the production and finished products, such as button bits, drilling rods, casing systems hammer components and assembled hammers. Inventory of finished goods include obsolescence provision of EUR 1 295 thousand. The increase of the provision was EUR 286 thousand and the release EUR 272 thousand due to the sale of slow -moving inventories and scrapping of unsalable inventories , in respect of which the risk of obsolescence has been reduced. MMoovveemmeennttss iinn tthhee pprroovviissiioonn ffoorr oobbssoolleesscceennccee ooff iinnvveennttoorryy tthhaatt aarree aasssseesssseedd ffoorr iimmppaaiirrmmeenntt aarree aass ffoolllloowwss:: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 OOnn 11 JJaannuuaarryy 1 280 1 486 Impairments made during the accounting period 286 248 Unused amounts reversed -272 -454 OOnn 3311 DDeecceemmbbeerr 11 229955 11 228800 KKeeyy jjuuddggeemmeennttss aanndd eessttiimmaatteess -- IInnvveennttoorryy vvaalluuaattiioonn Inventory valuation requires management estimates and judgements specially relating to obsolescence and recording inventory to net realizable value based on expected selling prices as well as the management’s assessment of the general market development in the Robit’s main markets. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to complete the sales. 40 55..22 IInnvveennttoorriieess AAccccoouunnttiinngg ppoolliiccyy Materials and supplies, work in progress and finished goods are stated at the lower of cost and net realizable value. The cost of inventories comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. The costs of purchase of inventories comprise the purchase price, import duties and other taxes, transport, handling and other costs directly attributable to the acquisition of finished goods, materials and services. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase. The costs of conversion of inventories include direct materials, direct labour and an appropriate proportion of variable and fixed overhead expenditure, the latter being allocated on the basis of normal operating capacity. Costs are determined using weighted average costs. EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Materials and supplies 11 446 5 645 Work in progress 1 549 1 865 Finished goods 24 792 32 723 TToottaall 3377 778866 4400 223322 The inventories include mainly raw materials used in the production and finished products, such as button bits, drilling rods, casing systems hammer components and assembled hammers. Inventory of finished goods include obsolescence provision of EUR 1 295 thousand. The increase of the provision was EUR 286 thousand and the release EUR 272 thousand due to the sale of slow -moving inventories and scrapping of unsalable inventories , in respect of which the risk of obsolescence has been reduced. MMoovveemmeennttss iinn tthhee pprroovviissiioonn ffoorr oobbssoolleesscceennccee ooff iinnvveennttoorryy tthhaatt aarree aasssseesssseedd ffoorr iimmppaaiirrmmeenntt aarree aass ffoolllloowwss:: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 OOnn 11 JJaannuuaarryy 1 280 1 486 Impairments made during the accounting period 286 248 Unused amounts reversed -272 -454 OOnn 3311 DDeecceemmbbeerr 11 229955 11 228800 KKeeyy jjuuddggeemmeennttss aanndd eessttiimmaatteess -- IInnvveennttoorryy vvaalluuaattiioonn Inventory valuation requires management estimates and judgements specially relating to obsolescence and recording inventory to net realizable value based on expected selling prices as well as the management’s assessment of the general market development in the Robit’s main markets. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to complete the sales.
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89 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 5.3 Account and Other Receivables Accounting Policies Account receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. Account receivables are recognized initially at fair value and subsequently at amortized cost less impairment. The Group uses a simplified approach to estimating expected credit losses. To estimate credit losses, trade receivables are grouped on the basis of credit risk characteristics and past-due dates. Impairment is recognized in the statement of comprehensive income under other operating expenses. Other receivables include mainly prepaid expenses and accrued income from the usual operating activities of the Group. The current account and other receivables comprised of the following: *Incl. mainly VAT receivables EUR 1 016 thousand on 31 December 2025 (EUR 1 532 thousand on 31 December 2024). The carrying amounts of current trade receivables and other receivables are considered to be close to their fair values. This is due to their short-term nature. Movements in the provision for impairment of trade receivables that are assessed for impairment are as follows: Change in provisions in the income statement: During the year, the following gain/(losses) were recognised in profit or loss in relation to impaired receivables. Classification of accounts receivables Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30-90 days and therefore are all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognised at fair value. The group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subse- quently at amortised cost using the effective interest method. Details about the group’s impairment policies and the calculation of the loss allowance are provided in note 4.6. 41 55..33 AAccccoouunntt aanndd ootthheerr rreecceeiivvaabblleess AAccccoouunnttiinngg ppoolliicciieess Account receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. Account receivables are recognized initially at fair value and subsequently at amortized cost less impairment. The Group uses a simplified approach to estimating expected credit losses. To estimate credit losses, trade receivables are grouped on the basis of credit risk characteristics and past-due dates. Impairment is recognized in the statement of comprehensive income under other operating expenses. Other receivables include mainly prepaid expenses and accrued income from the usual operating activities of the Group. The current account and other receivables comprised of the following: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Account receivables 13 022 15 655 Prepayments and accrued income 438 506 Other receivables* 1 143 1 653 TToottaall 1144 660044 1177 881144 *Incl. mainly VAT receivables EUR 1 016 thousand on 31 December 2025 (EUR 1 532 thousand on 31 December 2024). The carrying amounts of current trade receivables and other receivables are considered to be close to their fair values. This is due to their short-term nature. MMoovveemmeennttss iinn tthhee pprroovviissiioonn ffoorr iimmppaaiirrmmeenntt ooff ttrraaddee rreecceeiivvaabblleess tthhaatt aarree aasssseesssseedd ffoorr iimmppaaiirrmmeenntt aarree aass ffoolllloowwss:: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 OOnn 11 JJaannuuaarryy 590 702 Provision for impairment recognised during the year 66 448 Receivables written off during the year as uncollected -353 -522 Unused amounts reversed -171 -38 OOnn 3311 DDeecc 113322 559900 CChhaannggee iinn pprroovviissiioonnss iinn tthhee iinnccoommee ssttaatteemmeenntt:: DDuurriinngg tthhee yyeeaarr,, tthhee ffoolllloowwiinngg ggaaiinn//((lloosssseess)) wweerree rreeccooggnniisseedd iinn pprrooffiitt oorr lloossss iinn rreellaattiioonn ttoo iimmppaaiirreedd rreecceeiivvaabblleess.. EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 IImmppaaiirrmmeenntt lloosssseess Individually impaired receivables -419 -522 Movement in provision for impairment 431 108 1122 --441144 Classification of accounts receivables Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30 -90 days and therefore are all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognised at fair value. The group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest method. Details about the group’s impairment policies and the calculation of the loss allowance are provided in note 4.6. 41 55..33 AAccccoouunntt aanndd ootthheerr rreecceeiivvaabblleess AAccccoouunnttiinngg ppoolliicciieess Account receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. Account receivables are recognized initially at fair value and subsequently at amortized cost less impairment. The Group uses a simplified approach to estimating expected credit losses. To estimate credit losses, trade receivables are grouped on the basis of credit risk characteristics and past-due dates. Impairment is recognized in the statement of comprehensive income under other operating expenses. Other receivables include mainly prepaid expenses and accrued income from the usual operating activities of the Group. The current account and other receivables comprised of the following: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Account receivables 13 022 15 655 Prepayments and accrued income 438 506 Other receivables* 1 143 1 653 TToottaall 1144 660044 1177 881144 *Incl. mainly VAT receivables EUR 1 016 thousand on 31 December 2025 (EUR 1 532 thousand on 31 December 2024). The carrying amounts of current trade receivables and other receivables are considered to be close to their fair values. This is due to their short-term nature. MMoovveemmeennttss iinn tthhee pprroovviissiioonn ffoorr iimmppaaiirrmmeenntt ooff ttrraaddee rreecceeiivvaabblleess tthhaatt aarree aasssseesssseedd ffoorr iimmppaaiirrmmeenntt aarree aass ffoolllloowwss:: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 OOnn 11 JJaannuuaarryy 590 702 Provision for impairment recognised during the year 66 448 Receivables written off during the year as uncollected -353 -522 Unused amounts reversed -171 -38 OOnn 3311 DDeecc 113322 559900 CChhaannggee iinn pprroovviissiioonnss iinn tthhee iinnccoommee ssttaatteemmeenntt:: DDuurriinngg tthhee yyeeaarr,, tthhee ffoolllloowwiinngg ggaaiinn//((lloosssseess)) wweerree rreeccooggnniisseedd iinn pprrooffiitt oorr lloossss iinn rreellaattiioonn ttoo iimmppaaiirreedd rreecceeiivvaabblleess.. EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 IImmppaaiirrmmeenntt lloosssseess Individually impaired receivables -419 -522 Movement in provision for impairment 431 108 1122 --441144 Classification of accounts receivables Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30 -90 days and therefore are all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognised at fair value. The group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest method. Details about the group’s impairment policies and the calculation of the loss allowance are provided in note 4.6. 41 55..33 AAccccoouunntt aanndd ootthheerr rreecceeiivvaabblleess AAccccoouunnttiinngg ppoolliicciieess Account receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. Account receivables are recognized initially at fair value and subsequently at amortized cost less impairment. The Group uses a simplified approach to estimating expected credit losses. To estimate credit losses, trade receivables are grouped on the basis of credit risk characteristics and past-due dates. Impairment is recognized in the statement of comprehensive income under other operating expenses. Other receivables include mainly prepaid expenses and accrued income from the usual operating activities of the Group. The current account and other receivables comprised of the following: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Account receivables 13 022 15 655 Prepayments and accrued income 438 506 Other receivables* 1 143 1 653 TToottaall 1144 660044 1177 881144 *Incl. mainly VAT receivables EUR 1 016 thousand on 31 December 2025 (EUR 1 532 thousand on 31 December 2024). The carrying amounts of current trade receivables and other receivables are considered to be close to their fair values. This is due to their short-term nature. MMoovveemmeennttss iinn tthhee pprroovviissiioonn ffoorr iimmppaaiirrmmeenntt ooff ttrraaddee rreecceeiivvaabblleess tthhaatt aarree aasssseesssseedd ffoorr iimmppaaiirrmmeenntt aarree aass ffoolllloowwss:: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 OOnn 11 JJaannuuaarryy 590 702 Provision for impairment recognised during the year 66 448 Receivables written off during the year as uncollected -353 -522 Unused amounts reversed -171 -38 OOnn 3311 DDeecc 113322 559900 CChhaannggee iinn pprroovviissiioonnss iinn tthhee iinnccoommee ssttaatteemmeenntt:: DDuurriinngg tthhee yyeeaarr,, tthhee ffoolllloowwiinngg ggaaiinn//((lloosssseess)) wweerree rreeccooggnniisseedd iinn pprrooffiitt oorr lloossss iinn rreellaattiioonn ttoo iimmppaaiirreedd rreecceeiivvaabblleess.. EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 IImmppaaiirrmmeenntt lloosssseess Individually impaired receivables -419 -522 Movement in provision for impairment 431 108 1122 --441144 Classification of accounts receivables Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. They are generally due for settlement within 30 -90 days and therefore are all classified as current. Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognised at fair value. The group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest method. Details about the group’s impairment policies and the calculation of the loss allowance are provided in note 4.6.
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90 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 5.4 Account and Other Payables Accounting Policy Account payables are obligations to pay for goods or services that have been acquired in the ordinary course of busi- ness from suppliers. Account payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method. The current account and other payables comprise of the following: *Mainly accrued outsourcing fees, accrued audit fees and accrued rental expenses. The carrying amounts of account payables and other payables are considered to be the same as their fair values, due to their short-term nature. *Mainly VAT liability Material items included in accrued expenses: 42 55..44 AAccccoouunntt aanndd ootthheerr ppaayyaabblleess AAccccoouunnttiinngg ppoolliiccyy Account payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Account payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method. The current account and other payables comprise of the following: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Account payables 11 697 13 526 Accrued expenses 2 752 2 747 Other* 430 544 TToottaall 1144 888800 1166 881188 *Mainly VAT liability Material items included in accrued expenses: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Accrued salaries 981 1 131 Accrued social security costs 222 147 Accrued interests 5 11 Other* 1 544 1 459 TToottaall 22 775522 22 774477 *Mainly accrued outsourcing fees, accrued audit fees and accrued rental expenses . The carrying amounts of account payables and other payables are considered to be the same as their fair values, due to their short-term nature. 55..55 PPrroovviissiioonnss AAccccoouunnttiinngg ppoolliiccyy Return or repayment obligations are generally not associated with supply contracts. Robit is responsible for ensuring that the products meet the customer’s order in terms of technical specifications and also Robit’s own quality standards at the time of delivery. If a technical or qualitative problem due to Robit is identified in a product, Robit is obliged to supply to customer with replacement products. These obligations are assessed for each contract in turn, and a separate warranty provision is recognised for them. Because the products are, in nature, consumables, no long-term warranty obligations that could be payable in future financial years are associated with the products. A provision has been made estimating warranty claims for the products sold in which a technical or qualitative problem has been identified. These claims are expected to be settled over the next year and are therefore reported as current provisions. The amount of the provision was EUR 33 thousand on 31 December 2025 (2024: EUR 33 thousand). 42 55..44 AAccccoouunntt aanndd ootthheerr ppaayyaabblleess AAccccoouunnttiinngg ppoolliiccyy Account payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Account payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method. The current account and other payables comprise of the following: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Account payables 11 697 13 526 Accrued expenses 2 752 2 747 Other* 430 544 TToottaall 1144 888800 1166 881188 *Mainly VAT liability Material items included in accrued expenses: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 Accrued salaries 981 1 131 Accrued social security costs 222 147 Accrued interests 5 11 Other* 1 544 1 459 TToottaall 22 775522 22 774477 *Mainly accrued outsourcing fees, accrued audit fees and accrued rental expenses . The carrying amounts of account payables and other payables are considered to be the same as their fair values, due to their short-term nature. 55..55 PPrroovviissiioonnss AAccccoouunnttiinngg ppoolliiccyy Return or repayment obligations are generally not associated with supply contracts. Robit is responsible for ensuring that the products meet the customer’s order in terms of technical specifications and also Robit’s own quality standards at the time of delivery. If a technical or qualitative problem due to Robit is identified in a product, Robit is obliged to supply to customer with replacement products. These obligations are assessed for each contract in turn, and a separate warranty provision is recognised for them. Because the products are, in nature, consumables, no long-term warranty obligations that could be payable in future financial years are associated with the products. A provision has been made estimating warranty claims for the products sold in which a technical or qualitative problem has been identified. These claims are expected to be settled over the next year and are therefore reported as current provisions. The amount of the provision was EUR 33 thousand on 31 December 2025 (2024: EUR 33 thousand).
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91 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 5.5 Provisions Accounting Policy Return or repayment obligations are generally not associated with supply contracts. Robit is responsible for ensuring that the products meet the customer’s order in terms of technical specifications and also Robit’s own quality stand - ards at the time of delivery. If a technical or qualitative problem due to Robit is identified in a product, Robit is obliged to supply to customer with replacement products. These obligations are assessed for each contract in turn, and a separate warranty provision is recognised for them. Because the products are, in nature, consumables, no long-term warranty obligations that could be payable in future financial years are associated with the products. A provision has been made estimating warranty claims for the products sold in which a technical or qualitative problem has been identi- fied. These claims are expected to be settled over the next year and are therefore reported as current provisions. The amount of the provi- sion was EUR 33 thousand on 31 December 2025 (2024: EUR 33 thousand). Movements in the provision for warranty costs 5.6 Advance payments received Advance payments received amounted to EUR 206 thousand as of 31 December 2025 (2024: EUR 121 thousand). Advance payments are usually required from clients that are not creditworthy. In normal course of business advance payments are not an usual way of doing business. 43 MMoovveemmeennttss iinn tthhee pprroovviissiioonn ffoorr wwaarrrraannttyy ccoossttss EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 OOnn 11 JJaannuuaarryy 33 97 Provision for warranty costs recognised during the year 0 1 Unused amounts reversed 0 -65 OOnn 3311 DDeecceemmbbeerr 3333 3333 55..66 AAddvvaannccee ppaayymmeennttss rreecceeiivveedd Advance payments received amounted to EUR 206 thousand as of 31 December 2025 (2024: EUR 121 thousand). Advance payments are usually required from clients that are not creditworthy. In normal course of business advance payments are not an usual way of doing business. 66 OOtthheerr nnootteess 66..11 SSuubbssiiddiiaarriieess aanndd ffoorreeiiggnn ccuurrrreenncciieess AAccccoouunnttiinngg ppoolliiccyy Consolidation Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group and are de-consolidated from the date that control ceases. All intercompany transactions, receivables, liabilities, unrealized profits and distribution of profits within Robit Group are eliminated in the consolidated financial statements. Accounting principles of subsidiaries have been changed where necessary to ensure consistency with the principles adopted by the Group. Foreign currency translation Assets and liabilities in foreign subsidiaries are translated into euro at the rate prevailing on the balance sheet date. Income and expenses in foreign subsidiaries are translated into euro using an average rate. Translation differences that arise when translating the financial statements of subsidiaries are recognized in other comprehensive income and accumulated in translation differences reserve in equity. Foreign currency denominated transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or if items have been revalued, using the measurement date exchange rates. Foreign exchange gains and losses arising in respect of business operations, such as sales and purchases, are recognized in relevant lines above operating profit. Foreign exchange differences arising from financing transactions are recognized in finance income and costs. The exchange differences charged/credited to the statement of comprehensive income are as follows:
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92 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 6 Other Notes 6.1 Subsidiaries and Foreign Currency Accounting Policy Consolidation Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group and are de-consolidated from the date that control ceases. All intercompany transactions, receivables, liabilities, unrealized profits and distri - bution of profits within Robit Group are eliminated in the consolidated financial statements. Accounting principles of subsidiaries have been changed where necessary to ensure consistency with the principles adopted by the Group. Foreign currency translation Assets and liabilities in foreign subsidiaries are translated into euro at the rate prevailing on the balance sheet date. Income and expenses in foreign subsidiaries are translated into euro using an average rate. Translation differences that arise when translating the financial statements of subsidiaries are recognized in other comprehensive income and accumulated in translation differences reserve in equity. Foreign currency denominated transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or if items have been revalued, using the measurement date exchange rates. Foreign exchange gains and losses arising in respect of business operations, such as sales and purchases, are recog - nized in relevant lines above operating profit. Foreign exchange differences arising from financing transactions are recognized in finance income and costs.
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93 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Group’s subsidiaries as of 31 December 2025 and 2024 were as follows: *Companies were dormant or holding companies. **During 2015 Robit SA established a Black Employees Empowerment Trust (‘the Trust’ , “BEET”) in South Africa. The purpose of the Trust is to support the local black employees of Robit SA and generate better business opportunities for Robit in South Africa. Robit SA directed a share issue to the Trust. As a result, the Trust owns 26 % of the shares of Robit SA. However, Robit SA is considered to have control over the Trust. ***Robit Asia Ltd, Hong Kong was closed in March 2025. The exchange differences charged/credited to the statement of comprehensive income are as follows: 44 EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Included in EBIT/operating profit -663 628 In finance income and expenses -155 85 TToottaall --881188 771144 Group’s subsidiaries as of 31 December 2025 and 2024 were as follows: PPaarreenntt %% PPaarreenntt %% GGrroouupp %% GGrroouupp %% 3311 DDeecc 22002255 3311 DDeecc 22002244 3311 DDeecc 22002255 3311 DDeecc 22002244 Halco Brighouse Ltd, UK, Parent Robit UK* 100 % 100 % Halco Drilling Ltd UK, Parent Robit UK* 100 % 100 % Robit Asia Ltd, Hong Kong*** 100 % 100 % Robit Australia Pty Ltd, Australia 100 % 100 % 100 % 100 % Robit Finland Oy Ltd, Finland 100 % 100 % 100 % 100 % Robit GB Ltd, UK 100 % 100 % 100 % 100 % Robit Inc, USA 100 % 100 % 100 % 100 % Robit Korea LTD, South-Korea 100 % 100 % 100 % 100 % Robit OOO, Russia* 100 % 100 % 100 % 100 % Robit S.A.C, Peru, 1% owned by Robit Inc 99 % 99 % 100 % 100 % Robit SA, South Africa** 74 % 74 % 100 % 100 % Robit UK Ltd, UK* 100 % 100 % 100 % 100 % Halco USA LLC, USA, parent Robit INC.* 100 % 100 % *Companies were dormant or holding companies. **During 2015 Robit SA established a Black Employees Empowerment Trust (‘the Trust’, “BEET”) in South Africa. The purpose of the Trust is to support the local black employees of Robit SA and generate better business opportunities for Robit in South Africa. Robit SA directed a share issue to the Trust. As a result, the Trust owns 26 % of the shares of Robit SA. However, Robit SA is considered to have control over the Trust. ***Robit Asia Ltd, Hong Kong was closed in March 2025. 44 EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Included in EBIT/operating profit -663 628 In finance income and expenses -155 85 TToottaall --881188 771144 Group’s subsidiaries as of 31 December 2025 and 2024 were as follows: PPaarreenntt %% PPaarreenntt %% GGrroouupp %% GGrroouupp %% 3311 DDeecc 22002255 3311 DDeecc 22002244 3311 DDeecc 22002255 3311 DDeecc 22002244 Halco Brighouse Ltd, UK, Parent Robit UK* 100 % 100 % Halco Drilling Ltd UK, Parent Robit UK* 100 % 100 % Robit Asia Ltd, Hong Kong*** 100 % 100 % Robit Australia Pty Ltd, Australia 100 % 100 % 100 % 100 % Robit Finland Oy Ltd, Finland 100 % 100 % 100 % 100 % Robit GB Ltd, UK 100 % 100 % 100 % 100 % Robit Inc, USA 100 % 100 % 100 % 100 % Robit Korea LTD, South-Korea 100 % 100 % 100 % 100 % Robit OOO, Russia* 100 % 100 % 100 % 100 % Robit S.A.C, Peru, 1% owned by Robit Inc 99 % 99 % 100 % 100 % Robit SA, South Africa** 74 % 74 % 100 % 100 % Robit UK Ltd, UK* 100 % 100 % 100 % 100 % Halco USA LLC, USA, parent Robit INC.* 100 % 100 % *Companies were dormant or holding companies. **During 2015 Robit SA established a Black Employees Empowerment Trust (‘the Trust’, “BEET”) in South Africa. The purpose of the Trust is to support the local black employees of Robit SA and generate better business opportunities for Robit in South Africa. Robit SA directed a share issue to the Trust. As a result, the Trust owns 26 % of the shares of Robit SA. However, Robit SA is considered to have control over the Trust. ***Robit Asia Ltd, Hong Kong was closed in March 2025.
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94 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 45 66..22 TTaaxxeess Income tax expense AAccccoouunnttiinngg ppoolliiccyy The income tax expense consists of current tax and changes in deferred tax. Tax is recognized in the consolidated profit or loss statement or if tax relates to items recognized in other comprehensive income or directly in equity, then the related tax is recognized in other comprehensive income or equity correspondingly. The current income tax charge is calculated on the basis of the local tax laws and tax rates enacted or substantively enacted at the end of the reporting period in relevant countries where the Group operates and generates taxable income. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Current tax: Current tax on profits for the year -417 -132 Adjustments in respect of prior years -56 -24 Total current tax expense -472 -156 Deferred tax: Decrease (-) / increase (+) in deferred tax assets -35 -48 Decrease (+) / increase (-) in deferred tax liabilities 182 302 Total deferred tax expenses 147 254 IInnccoommee ttaaxx eexxppeennssee --332266 9988 Income taxes recognized in consolidated income statements differ from the income taxes calculated using the Finnish tax rate as follows: EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 PPrrooffiitt bbeeffoorree ttaaxx 8899 11 003366 Tax calculated at Finnish tax rate -18 -207 Tax effect of: Effect of other tax rates for foreign subsidiaries -35 -97 Expenses not deductible for tax purposes -478 -363 Income not subject to tax 130 335 Unrecognized deferred tax assets from tax losses -110 48 Utilization of previously unrecognized tax losses 255 314 Other adjustments 0 59 Adjustment in respect of prior years -71 9 TTaaxxeess iinn iinnccoommee ssttaatteemmeenntt --332266 9988 6.2 Taxes Income tax expense Accounting Policy The income tax expense consists of current tax and changes in deferred tax. Tax is recognized in the consolidated profit or loss statement or if tax relates to items recognized in other comprehensive income or directly in equity, then the related tax is recognized in other comprehensive income or equity correspondingly. The current income tax charge is calculated on the basis of the local tax laws and tax rates enacted or substantively enacted at the end of the reporting period in relevant countries where the Group operates and generates taxable income. 45 66..22 TTaaxxeess Income tax expense AAccccoouunnttiinngg ppoolliiccyy The income tax expense consists of current tax and changes in deferred tax. Tax is recognized in the consolidated profit or loss statement or if tax relates to items recognized in other comprehensive income or directly in equity, then the related tax is recognized in other comprehensive income or equity correspondingly. The current income tax charge is calculated on the basis of the local tax laws and tax rates enacted or substantively enacted at the end of the reporting period in relevant countries where the Group operates and generates taxable income. EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Current tax: Current tax on profits for the year -417 -132 Adjustments in respect of prior years -56 -24 Total current tax expense -472 -156 Deferred tax: Decrease (-) / increase (+) in deferred tax assets -35 -48 Decrease (+) / increase (-) in deferred tax liabilities 182 302 Total deferred tax expenses 147 254 IInnccoommee ttaaxx eexxppeennssee --332266 9988 Income taxes recognized in consolidated income statements differ from the income taxes calculated using the Finnish tax rate as follows: EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 PPrrooffiitt bbeeffoorree ttaaxx 8899 11 003366 Tax calculated at Finnish tax rate -18 -207 Tax effect of: Effect of other tax rates for foreign subsidiaries -35 -97 Expenses not deductible for tax purposes -478 -363 Income not subject to tax 130 335 Unrecognized deferred tax assets from tax losses -110 48 Utilization of previously unrecognized tax losses 255 314 Other adjustments 0 59 Adjustment in respect of prior years -71 9 TTaaxxeess iinn iinnccoommee ssttaatteemmeenntt --332266 9988 Income taxes recognized in consolidated income statements differ from the income taxes calculated using the Finnish tax rate as follows:
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95 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Deferred income tax Accounting Policy Deferred tax assets and liabilities are accounted for using the liability method for all temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the balance sheet date and are expected to be applied when the related deferred tax asset is realized, or the deferred tax liability is settled. Deferred tax liabilities are recognized for all taxable temporary differences except for deferred tax liability where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognized for all deductible temporary differences to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilised. Realisable value of deferred tax assets is assessed at each balance sheet date and adjustments are made in case there is indication that utilisation of deferred tax assets would no longer be probable. Deferred tax assets and liabilities are offset only when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred taxes assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. Key Judgements and Estimates - Deferred Tax Assets and Liabilities Judgement is required in assessing whether deferred tax assets and certain deferred tax liabilities are recognized on the balance sheet. Deferred tax assets are recognized only where it is considered more likely than not that they will be recovered, which is dependent on the generation of sufficient future taxable profits. Assumptions about the genera - tion of future taxable profits depend on management’s estimates of future cash flows that relate among others to the amount of future net sales, operating costs and finance costs. The Group’s ability to generate taxable income depends also on factors related to general economy, finance, competitiveness and regulations that the Group is unable to control. These estimates and assumptions are subject to risk and uncertainty, hence it is possible that changes in circumstances will alter expectations, which may impact the amount of deferred tax assets and deferred tax liabilities recognized on the balance sheet and the amount of other tax losses and temporary differences not yet recognized. The Group’s management periodically evaluates positions taken in tax returns with respect to situations in which appli- cable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. The amount of current income tax liabilities for identified uncertain tax posi- tions is recognized when it is probable that certain tax positions will be challenged and may not be fully sustained upon review by tax authorities.
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96 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 The gross movement on the deferred tax account is as follows: The following table presents the movements in deferred income tax assets and liabilities during the year, without taking into considera- tion the offsetting of balances with the same tax jurisdiction: 47 The gross movement on the deferred tax account is as follows: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 AAss ooff 11 ooff JJaannuuaarryy 11 333333 11 002288 Recognized in profit or loss 147 254 Recognized in equity 41 58 Exchange rate differences -86 -7 AAss ooff 3311 ooff DDeecceemmbbeerr 11 443366 11 333333 The following table presents the movements in deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances with the same tax jurisdiction: EEUURR tthhoouussaanndd AAtt 11 JJaann RReeccllaassssiiffiiccaattiioonnss RReeccooggnniizzeedd iinn pprrooffiitt oorr lloossss RReeccooggnniisseedd ddiirreeccttllyy ttoo eeqquuiittyy EExxcchhaannggee rraattee ddiiffffeerreenncceess AAtt 3311 DDeecc 22002255 DDeeffeerrrreedd ttaaxx aasssseettss Inventories 550 0 23 0 -3 569 Employee benefits 97 -1 -24 0 -3 69 Property, plant, and equipment 712 2 -116 0 0 598 Tax losses 813 0 6 0 -77 743 Other items 149 -31 76 0 -12 181 TToottaall 22 332211 --3300 --3355 00 --9944 22 116622 Set-off of deferred taxes -766 -563 DDeeffeerrrreedd ttaaxx aasssseettss,, nneett 11 555555 11 559988 AAtt 11 JJaann RReeccllaassssiiffiiccaattiioonnss RReeccooggnniizzeedd iinn pprrooffiitt oorr lloossss RReeccooggnniisseedd ddiirreeccttllyy ttoo eeqquuiittyy EExxcchhaannggee rraattee ddiiffffeerreenncceess AAtt 3311 DDeecc 22002255 DDeeffeerrrreedd ttaaxx lliiaabbiilliittiieess Property, plant, and equipment 731 0 -177 0 14 568 Intangible assets 158 0 -29 0 -7 122 Other items 98 -30 23 -41 -14 35 TToottaall 998888 --3300 --118833 --4411 --77 772266 Set-off of deferred taxes -766 -563 DDeeffeerrrreedd ttaaxx lliiaabbiilliittiieess,, nneett 222222 116633 47 The gross movement on the deferred tax account is as follows: EEUURR tthhoouussaanndd 3311--DDeecc--2255 3311--DDeecc--2244 AAss ooff 11 ooff JJaannuuaarryy 11 333333 11 002288 Recognized in profit or loss 147 254 Recognized in equity 41 58 Exchange rate differences -86 -7 AAss ooff 3311 ooff DDeecceemmbbeerr 11 443366 11 333333 The following table presents the movements in deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances with the same tax jurisdiction: EEUURR tthhoouussaanndd AAtt 11 JJaann RReeccllaassssiiffiiccaattiioonnss RReeccooggnniizzeedd iinn pprrooffiitt oorr lloossss RReeccooggnniisseedd ddiirreeccttllyy ttoo eeqquuiittyy EExxcchhaannggee rraattee ddiiffffeerreenncceess AAtt 3311 DDeecc 22002255 DDeeffeerrrreedd ttaaxx aasssseettss Inventories 550 0 23 0 -3 569 Employee benefits 97 -1 -24 0 -3 69 Property, plant, and equipment 712 2 -116 0 0 598 Tax losses 813 0 6 0 -77 743 Other items 149 -31 76 0 -12 181 TToottaall 22 332211 --3300 --3355 00 --9944 22 116622 Set-off of deferred taxes -766 -563 DDeeffeerrrreedd ttaaxx aasssseettss,, nneett 11 555555 11 559988 AAtt 11 JJaann RReeccllaassssiiffiiccaattiioonnss RReeccooggnniizzeedd iinn pprrooffiitt oorr lloossss RReeccooggnniisseedd ddiirreeccttllyy ttoo eeqquuiittyy EExxcchhaannggee rraattee ddiiffffeerreenncceess AAtt 3311 DDeecc 22002255 DDeeffeerrrreedd ttaaxx lliiaabbiilliittiieess Property, plant, and equipment 731 0 -177 0 14 568 Intangible assets 158 0 -29 0 -7 122 Other items 98 -30 23 -41 -14 35 TToottaall 998888 --3300 --118833 --4411 --77 772266 Set-off of deferred taxes -766 -563 DDeeffeerrrreedd ttaaxx lliiaabbiilliittiieess,, nneett 222222 116633
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97 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 The companies of the group have a total of EUR X million in tax losses that can be credited in taxation, for which deferred tax assets have not been recorded in the accounts. Of these losses, EUR 12.7 million will expire within five years and EUR 5.4 million will not expire. 48 EEUURR tthhoouussaanndd AAtt 11 JJaann RReeccllaassssiiffiiccaattiioonnss RReeccooggnniizzeedd iinn pprrooffiitt oorr lloossss RReeccooggnniisseedd ddiirreeccttllyy ttoo eeqquuiittyy EExxcchhaannggee rraattee ddiiffffeerreenncceess AAtt 3311 DDeecc 22002244 DDeeffeerrrreedd ttaaxx aasssseettss Inventories 258 87 205 0 0 550 Employee benefits 261 -145 -19 0 0 97 Property, plant, and equipment 963 -21 -230 0 0 712 Tax losses 466 118 230 0 0 813 Other items 381 -39 -195 0 2 149 TToottaall 22 332299 00 --1100 00 22 22 332211 Set-off of deferred taxes -912 -766 DDeeffeerrrreedd ttaaxx aasssseettss,, nneett 11 441177 11 555555 AAtt 11 JJaann RReeccllaassssiiffiiccaattiioonnss RReeccooggnniizzeedd iinn pprrooffiitt oorr lloossss RReeccooggnniisseedd ddiirreeccttllyy ttoo eeqquuiittyy EExxcchhaannggee rraattee ddiiffffeerreenncceess AAtt 3311 DDeecc 22002244 DDeeffeerrrreedd ttaaxx lliiaabbiilliittiieess Property, plant, and equipment 1 095 -152 -212 0 0 731 Intangible assets 207 30 -29 -58 9 158 Other items 0 122 -24 0 0 98 TToottaall 11 330011 00 --226655 --5588 99 998888 Set-off of deferred taxes -912 -766 DDeeffeerrrreedd ttaaxx lliiaabbiilliittiieess,, nneett 338899 222222 The companies of the group have a total of EUR X million in tax losses that can be credited in taxation, for which deferred tax assets have not been recorded in the accounts. Of these losses, EUR 12.7 million will expire within five years and EUR 5.4 million will not expire. 6.3 Related Party Transactions Related parties of the Group consist of the parent company and Group companies mentioned in note 6.1. Related parties consist also key management personnel and their close family members as well as entities controlled by them. Key management personnel are the members of the Board of Directors, CEO and management team of Robit. Five Alliance Oy has significant influence in Robit Plc and its ownership as of 31 December 2025 was 27.06 % (27.06 % as of 31 December 2024). The vice chairman of the board of directors Harri Sjöholm has control in Five Alliance Oy. Helena Kauppinen is the CEO and a board member of Five Alliance Oy.
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98 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Robit's annual general meeting held on April 8, 2025 decided the remuneration of the board members as follows: Remuneration to the Chairman of the Board of Directors is EUR 60 thousand per year and to each member of the Board of Directors EUR 30 thousand per year. In addition, members of the board receive EUR 500 for each meeting they attend. Committee meeting fee is EUR 500 for each attended meeting. Remuneration for the members of the Board of Directors will be paid so that 40% of the specified annual amount will be used to purchase Robit’s shares or alternatively the shares may be conveyed by using the own shares held by the company. The remaining 60 % is advance tax, which the company withholds and reimburses to the Tax Administration. Meeting fees are paid in cash. Travel claims are paid according to company travel policy. Members of the board do not participate into share-based remuneration plans and they do not have any pension agreements with the company. There are no restrictions in the shareholdings granted as the annual board fee. Total of 80 002 shares were granted to the Board of Directors during year 2025. Board members are not in employment relationship nor in business relationship with the company. As annual board fee 22 857 shares were granted to the chairman of the board Markku Teräsvasara and 11 429 shares to Harri Sjöholm, Helena Kauppinen, Kai Telanne, Eeva-Liisa Virkkunen and Mikko Kuitunen. The remuneration of CEO The Board of Directors decides on the salary, remuneration and other benefits received by the CEO. The salary, remuneration and other fringe benefits paid in 2025 to CEO Arto Halonen amounted to EUR 163 thousand. No short term incentive for 2025 was paid. Long term incentive payments amounted to EUR 14 thousand. The salary, remuneration and other fringe benefits paid in 2025 to CEO Mikko Kuusilehto amounted to EUR 94 thousand. A short term incentive for 2025 amounting to EUR 4 thousand was paid into the personnel fund. In addition, a payment of EUR 8 thousand related to the CEO’s voluntary supplementary pension was made for both the former CEO Arto Halonen and the current CEO Mikko Kuusilehto. For more information on the share reward program, see note 2.3. The remuneration of the Management team Decisions concerning incentive and remuneration system for management are made by the Board of Directors based on the proposal made by the CEO. The salary for all members of the management team consists of a fixed basic salary and a results-based bonus. The bonus is determined based on the company performance, the business area in question and other key operative objectives. Remunera- tion of the management team members in 2025 and 2024 were as follows: Compensation to other management 49 66..33 RReellaatteedd ppaarrttyy ttrraannssaaccttiioonnss Related parties of the Group consist of the parent company and Group companies mentioned in note 6.1. Related parties consist also key management personnel and their close family members as well as entities controlled by them. Key management personnel are the members of the Board of Directors, CEO and management team of Robit. Five Alliance Oy has significant influence in Robit Plc and its ownership as of 31 December 2025 was 27.06 % (27.06 % as of 31 December 2024). The vice chairman of the board of directors Harri Sjöholm has control in Five Alliance Oy. Helena Kauppinen is the CEO and a board member of Five Alliance Oy. The remuneration of Board of Directors Salaries, remuneration and other benefits paid in 2025 and 2024 to the Board of Directors were as follows: EEUURR TThhoouussaanndd 22002255 22002244 Markku Teräsvasara 73,5 73.3 Harri Sjöholm 51,7 49.3 Lasse Aho 4,3 46.2 Eeva-Liisa Virkkunen 48,0 44.7 Mikko Kuitunen 46,4 43.9 Anne Koutonen - 2.9 Helena Kauppinen 41,5 - Kai Telanne 42,8 38.9 TToottaall 330088,,11 229999..33 Robit's annual general meeting held on April 8, 202 5 decided the remuneration of the board members as follows: Remuneration to the Chairman of the Board of Directors is EUR 60 thousand per year and to each member of the Board of Directors EUR 30 thousand per year. In addition, members of the board receive EUR 500 for each meeting they attend. Committee meeting fee is EUR 500 for each attended meeting. Remuneration for the members of the Board of Directors will be paid so that 40% of the specified annual amount will be used to purchase Robit’s shares or alternatively the shares may be conveyed by using the own shares held by the company . The remaining 60 % is advance tax, which the company withholds and reimburses to t he Tax Administration. Meeting fees are paid in cash. Travel claims are paid according to company travel policy. Members of the board do not participate into share-based remuneration plans and they do not have any pension agreements with the company. There are no restrictions in the shareholdings granted as the annual board fee. Total of 80 002 shares were granted to the Board of Directors during year 2025. Board members are not in employment relationship nor in business relationship with the company. As annual board fee 22 857 shares were granted to the chairman of the board Markku Teräsvasara and 11 429 shares to Harri Sjöholm, Helena Kauppinen, Kai Telanne, Eeva-Liisa Virkkunen and Mikko Kuitunen. The remuneration of CEO The Board of Directors decides on the salary, remuneration and other benefits received by the CEO. The salary, remuneration and other fringe benefits paid in 2025 to CEO Arto Halonen amounted to EUR 163 thousand. No short-term incentive for 2025 was paid. Long-term incentive payments amounted to EUR 14 thousand. The salary, remuneration and other fringe benefits paid in 2025 to CEO Mikko Kuusilehto amounted to EUR 94 thousand. A short-term incentive for 2025 amounting to EUR 4 thousand was paid into the personnel fund. In addition, a payment of EUR 8 thousand related to the CEO’s voluntary supplementary pension was made for both the former CEO Arto Halonen and the current CEO Mikko Kuusilehto. 50 For more information on the share reward program, see note 2.3. The remuneration of the Management team Decisions concerning incentive and remuneration system for management are made by the Board of Directors based on the proposal made by the CEO. The salary for all members of the management team consists of a fixed basic salary and a results- based bonus. The bonus is determined based on the company performance, the business area in question and other key operative objectives. Remuneration of the management team members in 2025 and 2024 were as follows: Compensation to other management EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Salaries and other short-term employee benefits 671 733 Share-based payments 0 7 TToottaall 671 740 The management team members did not have voluntary pension plan s that would have been classified as defined contribution plan during year 2025. For more information on the share-based incentive program, see note 2.3. Share-based payments and shareholder loans In the fiscal year 2025, a total of 0 shares were granted to the company's management team based on share-based incentive programs. In the fiscal year 2024, a total of 2 118 shares were granted to the company's management team based on share- based incentive programs. In connection with the personnel share emission related to the share-based incentive program implemented in the 2020 fiscal year, the company has granted key personnel a loan to pay for share subscriptions. The payment period for these loans is 8 years and the interest rate is 12-month Euribor plus a margin of 0.99%. More about the share bonus program in note 2.3. Share holdings of the board of directors and the management The total number of shares was 21 179 900 as of 31 December 202 5 (2024: 21 179 900). The shareholding of the management was as follows: SShhaarreehhoollddiinngg ooff mmaannaaggeemmeenntt aass ooff 3311..1122..22002255 SShhaarreess PPeerrcceennttaaggeess ooff sshhaarreess Members of the Board of directors 5 978 604 28.23 % Harri Sjöholm* 5 796 879 27,37 % Mikko Kuitunen 47 349 0,22 % Helena Kauppinen 12 179 0,06 % Markku Teräsvasara 62 272 0,29 % Kai Telanne 20 660 0,10 % Eeva-Liisa Virkkunen 39 265 0,19 % CEO 20 000 0,09 % Other members of the management team 25 000 0,12 % TToottaall 6 023 604 28,44 % *27.06 % owned by Harri Sjöholm through Five Alliance Oy The remuneration of Board of Directors Salaries, remuneration and other benefits paid in 2025 and 2024 to the Board of Directors were as follows:
Page 99
99 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 6.4 Subsequent Events Chair of the Board Markku Teräsvasara resigned from the company’s Board of Directors on 31 December 2025, and the Board elected from among its members the Vice Chair, Harri Sjöholm, as Chair of the Board as of 1 January 2026 until the Annual General Meeting on 1 April 2026. 6.5 New and Amended Standards Adopted by the Group During the period no new or amended standards were implemented that would have affected the Financial Statements. 6.6 New Standards Not Yet Adopted The IFRS 18 Presentation and Disclosure in Financial Statements standard will come into effect on 1 January 2027. The Group has not adopted the standard early. IFRS 18 replaces IAS 1 and introduces changes particularly to the presentation of the statement of profit or loss as well as to the disclosure requirements for management -defined performance measures. The assessment of the effects of the standard on the Group’s financial statements is ongoing. Based on the current assessment, the application of the standard is expected to mainly affect the presentation of the financial statements and the extent of disclosures, but it is not expected to have a material impact on the Group’s financial position or performance. The management team members did not have voluntary pension plans that would have been classified as defined contribution plan during year 2025. For more information on the share-based incentive program, see note 2.3. Share-based payments and shareholder loans In the fiscal year 2025, a total of 0 shares were granted to the company's management team based on share-based incentive programs. In the fiscal year 2024, a total of 2 118 shares were granted to the company's management team based on share-based incentive programs. In connection with the personnel share emission related to the share-based incentive program implemented in the 2020 fiscal year, the company has granted key personnel a loan to pay for share subscriptions. The payment period for these loans is 8 years and the interest rate is 12-month Euribor plus a margin of 0.99%. More about the share bonus program in note 2.3. Share holdings of the board of directors and the management The total number of shares was 21 179 900 as of 31 December 2025 (2024: 21 179 900). The shareholding of the management was as follows: *27.06 % owned by Harri Sjöholm through Five Alliance Oy 50 For more information on the share reward program, see note 2.3. The remuneration of the Management team Decisions concerning incentive and remuneration system for management are made by the Board of Directors based on the proposal made by the CEO. The salary for all members of the management team consists of a fixed basic salary and a results- based bonus. The bonus is determined based on the company performance, the business area in question and other key operative objectives. Remuneration of the management team members in 2025 and 2024 were as follows: Compensation to other management EEUURR tthhoouussaanndd 11 JJaann -- 3311 DDeecc 22002255 11 JJaann -- 3311 DDeecc 22002244 Salaries and other short-term employee benefits 671 733 Share-based payments 0 7 TToottaall 671 740 The management team members did not have voluntary pension plan s that would have been classified as defined contribution plan during year 2025. For more information on the share-based incentive program, see note 2.3. Share-based payments and shareholder loans In the fiscal year 2025, a total of 0 shares were granted to the company's management team based on share-based incentive programs. In the fiscal year 2024, a total of 2 118 shares were granted to the company's management team based on share- based incentive programs. In connection with the personnel share emission related to the share-based incentive program implemented in the 2020 fiscal year, the company has granted key personnel a loan to pay for share subscriptions. The payment period for these loans is 8 years and the interest rate is 12-month Euribor plus a margin of 0.99%. More about the share bonus program in note 2.3. Share holdings of the board of directors and the management The total number of shares was 21 179 900 as of 31 December 202 5 (2024: 21 179 900). The shareholding of the management was as follows: SShhaarreehhoollddiinngg ooff mmaannaaggeemmeenntt aass ooff 3311..1122..22002255 SShhaarreess PPeerrcceennttaaggeess ooff sshhaarreess Members of the Board of directors 5 978 604 28.23 % Harri Sjöholm* 5 796 879 27,37 % Mikko Kuitunen 47 349 0,22 % Helena Kauppinen 12 179 0,06 % Markku Teräsvasara 62 272 0,29 % Kai Telanne 20 660 0,10 % Eeva-Liisa Virkkunen 39 265 0,19 % CEO 20 000 0,09 % Other members of the management team 25 000 0,12 % TToottaall 6 023 604 28,44 % *27.06 % owned by Harri Sjöholm through Five Alliance Oy
Page 100
100 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Parent Company Financial Statements 3 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 Robit Plc (parent company) IInnccoommee ssttaatteemmeenntt 11..11..-- 3311..1122..22002255 11..11..-- 3311..1122..22002244 € € NNeett ssaalleess 66 002233 333322,,7755 55 000099 007722,,8811 Other operating income 1 381,05 50 602,40 Personnel expenses Wages and salaries -1 282 018,10 -1 229 416,54 Indirect personnel expenses Pension expenses -187 701,22 -165 832,11 Other indirect security expenses -27 680,68 -17 580,11 Total personnel expenses -1 497 400,00 -1 412 828,76 Depreciation and amortisation Depreciation according to plan -598 777,89 -611 407,61 Other operating expenses -5 748 322,91 -6 673 147,14 OOPPEERRAATTIINNGG PPRROOFFIITT ((--LLOOSSSS)) --11 881199 778877,,0000 --33 663377 770088,,3300 Financial income and expenses Financial income and expenses Other interest and financial income From group companies 2 067 915,90 892 239,20 From others 244 630,57 715 732,79 Interest and other financial expenses To group companies 0,00 -36 940,51 To others -1 806 151,28 -12 528 595,22 Total financial income and expenses 506 395,19 -10 957 563,74 PPRROOFFIITT ((--LLOOSSSS)) BBEEFFOORREE AAPPPPRROOPPRRIIAATTIIOONNSS --11 331133 339911,,8811 --1144 559955 227722,,0044 AANNDD TTAAXXEESS Appropriations Change in depreciation difference, increase (-) or decrease (+) 18 335,67 -1 508,99 Group contribution 1 593 000,00 4 470 000,00 Income taxes -75 248,88 -8 296,25 PPRROOFFIITT ((--LLOOSSSS)) FFOORR TTHHEE FFIINNAANNCCIIAALL YYEEAARR 222222 669944,,9988 --1100 113355 007777,,2288 Robit Plc Business ID: 0825627-0 Robit Plc (parent company)
Page 101
101 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Robit Plc Business ID: 0825627-0 Balance sheet 4 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 BBaallaannccee sshheeeett AAsssseettss DDeecc 3311,, 22002255 DDeecc 3311,, 22002244 NNOONN--CCUURRRREENNTT AASSSSEETTSS Intangible assets Development costs 24 778,38 27 026,04 Intellectual property rights 138 931,68 152 188,35 Other non-current expenses 414 687,49 707 092,45 Total non-current assets 578 397,55 886 306,84 Tangible assets Land and waters areas 195 178,87 195 178,87 Buildings and structures 3 084 707,78 3 291 682,22 Machinery and equipment 18 228,35 26 683,07 Other tangible assets 1 590,71 1 590,71 Total tangible assets 3 299 705,71 3 515 134,87 Investments Shares in group companies 39 346 132,41 39 348 559,28 Other investments 99,00 99,00 Total investments 39 346 231,41 39 348 658,28 TToottaall nnoonn--ccuurrrreenntt aasssseettss 43 224 334,67 43 750 099,99 CCuurrrreenntt aasssseettss Receivables Long-term Receivables from group companies 13 397 448,92 14 083 361,39 Loan receivables 37 198,00 50 638,00 Long-term receivables total 13 434 646,92 14 133 999,39 Short-term Receivables from group companies 12 373 743,09 11 901 770,47 Loan receivables 64 825,24 73 873,89 Other receivables 2 625,22 8 500,50 Accrued income 115 229,29 160 793,46 Short-term receivables total 12 556 422,84 12 144 938,32 Cash and equivalents 3 550 175,93 2 005 689,00 TToottaall ccuurrrreenntt aasssseettss 29 541 245,69 28 284 626,71 TTOOTTAALL AASSSSEETTSS 7722 776655 558800,,3366 7722 003344 772266,,7700 4 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 BBaallaannccee sshheeeett AAsssseettss DDeecc 3311,, 22002255 DDeecc 3311,, 22002244 NNOONN--CCUURRRREENNTT AASSSSEETTSS Intangible assets Development costs 24 778,38 27 026,04 Intellectual property rights 138 931,68 152 188,35 Other non-current expenses 414 687,49 707 092,45 Total non-current assets 578 397,55 886 306,84 Tangible assets Land and waters areas 195 178,87 195 178,87 Buildings and structures 3 084 707,78 3 291 682,22 Machinery and equipment 18 228,35 26 683,07 Other tangible assets 1 590,71 1 590,71 Total tangible assets 3 299 705,71 3 515 134,87 Investments Shares in group companies 39 346 132,41 39 348 559,28 Other investments 99,00 99,00 Total investments 39 346 231,41 39 348 658,28 TToottaall nnoonn--ccuurrrreenntt aasssseettss 43 224 334,67 43 750 099,99 CCuurrrreenntt aasssseettss Receivables Long-term Receivables from group companies 13 397 448,92 14 083 361,39 Loan receivables 37 198,00 50 638,00 Long-term receivables total 13 434 646,92 14 133 999,39 Short-term Receivables from group companies 12 373 743,09 11 901 770,47 Loan receivables 64 825,24 73 873,89 Other receivables 2 625,22 8 500,50 Accrued income 115 229,29 160 793,46 Short-term receivables total 12 556 422,84 12 144 938,32 Cash and equivalents 3 550 175,93 2 005 689,00 TToottaall ccuurrrreenntt aasssseettss 29 541 245,69 28 284 626,71 TTOOTTAALL AASSSSEETTSS 7722 776655 558800,,3366 7722 003344 772266,,7700
Page 102
102 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Robit Plc Business ID: 0825627-0 5 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 DDeecc 3311,, 22002255 DDeecc 3311,, 22002244 €€ €€ EEqquuiittyy Share capital 705 025,14 705 025,14 Share premium reserve 201 825,51 201 825,51 Invested unrestricted equity reserve 84 778 931,04 84 778 931,04 Retained earnings (loss) -44 128 062,56 -34 076 185,36 Profit (loss) for the financial year 222 694,98 -10 135 077,28 Total equity 41 780 414,11 41 474 519,05 AAccccrruueedd aapppprroopprriiaattiioonnss Depreciation difference 437 352,31 455 687,98 LLIIAABBIILLIITTIIEESS LLoonngg--tteerrmm lliiaabbiilliittiieess Loans from financial institutions 15 000 000,00 16 500 000,00 Total long-term liabilities 15 000 000,00 16 500 000,00 SShhoorrtt--tteerrmm lliiaabbiilliittiieess Loans from financial institutions 3 000 000,00 3 104 741,74 Accounts payable 233 886,04 458 556,39 Payables to group companies 11 870 616,15 9 333 970,64 Other liabilities 226 983,54 303 536,86 Accrued liabilities 216 328,21 403 714,04 Total short-term liabilities 15 547 813,94 13 604 519,67 SShhoorrtt--tteerrmm lliiaabbiilliittiieess ttoottaall 30 547 813,94 30 104 519,67 TTOOTTAALL EEQQUUIITTIIEESS AANNDD LLIIAABBLLIITTIIEESS 7722 776655 558800,,3366 7722 003344 772266,,7700
Page 103
103 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Robit Plc Business ID: 0825627-0 *Loan drawdowns and repayments are netted within the item 6 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 CCaasshh ffllooww ssttaatteemmeennttss ((ppaarreenntt ccoommppaannyy)) 11..11..-- 3311..1122..22002255 11..11..-- 3311..1122..22002244 CCaasshh ffllooww ffrroomm ooppeerraattiioonnss:: OOPPEERRAATTIINNGG PPRROOFFIITT ((--LLOOSSSS)) -1 819 787 -3 637 708 Adjustments: Depreciation according to plan 598 778 611 408 Financial income and expenses Other adjustments -852 738 -1 179 920 CCaasshh ffllooww bbeeffoorree cchhaannggeess iinn wwoorrkkiinngg ccaappiittaall --22 007733 774477 --44 220066 222200 Changes in working capital: Increase (-) or decrease (+) in trade and other receivables 419 484 2 174 551 Increase (-) or decrease (+) in trade payables 2 048 036 2 881 027 Cash flow from operations before taxes 339933 777733 884499 335588 Interest paid and other finance costs from operations -867 786 -1 077 793 Interests and other financial income from operations 199 081 762 963 Direct income taxes paid CCaasshh ffllooww ffrroomm ooppeerraattiioonnss ((AA)) --227744 993333 553344 552288 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess:: Investments in tangible and intangible items -75 439 -49 207 Investments in group companies -6 216 922 Other investments -99 Paid subsidiary loans -4 424 372 Granted subsidiary loans Repayment of loan receivables 8 264 761 Changes in long-term receivables -8 461 9 635 CCaasshh ffllooww ffrroomm iinnvveessttmmeennttss ((BB)) --8833 990000 --22 441166 220044 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess --335588 883333 --11 888811 667766 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess Proceeds from financial instruments and deposits 1 627 878 Changes in short-term loans* -3 000 000 Changes in long-term loans* -1 604 742 104 742 Changes of own shares -218 195 Received intra-group financial support / dividend 3 508 062 2 955 000 Payment of dividends and other profit distribution CCaasshh ffllooww ffrroomm ffiinnaanncciinngg ((CC)) 11 990033 332200 11 446699 442255 CChhaannggee iinn ccaasshh aanndd ccaasshh eeqquuiivvaalleennttss ((AA++BB++CC)) 11 554444 448877 --441122 225511 Cash and cash equivalents at beginning of financial year 2 005 689 2 417 679 Cash and cash equivalents at the end of financial year 3 550 176 2 005 689 CCaasshh aanndd ccaasshh eeqquuiivvaalleennttss aaccccoorrddiinngg ttoo bbaallaannccee sshheeeett 11 554444 448877 --441122 225511 *Loan drawdowns and repayments are netted within the item 6 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 CCaasshh ffllooww ssttaatteemmeennttss ((ppaarreenntt ccoommppaannyy)) 11..11..-- 3311..1122..22002255 11..11..-- 3311..1122..22002244 CCaasshh ffllooww ffrroomm ooppeerraattiioonnss:: OOPPEERRAATTIINNGG PPRROOFFIITT ((--LLOOSSSS)) -1 819 787 -3 637 708 Adjustments: Depreciation according to plan 598 778 611 408 Financial income and expenses Other adjustments -852 738 -1 179 920 CCaasshh ffllooww bbeeffoorree cchhaannggeess iinn wwoorrkkiinngg ccaappiittaall --22 007733 774477 --44 220066 222200 Changes in working capital: Increase (-) or decrease (+) in trade and other receivables 419 484 2 174 551 Increase (-) or decrease (+) in trade payables 2 048 036 2 881 027 Cash flow from operations before taxes 339933 777733 884499 335588 Interest paid and other finance costs from operations -867 786 -1 077 793 Interests and other financial income from operations 199 081 762 963 Direct income taxes paid CCaasshh ffllooww ffrroomm ooppeerraattiioonnss ((AA)) --227744 993333 553344 552288 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess:: Investments in tangible and intangible items -75 439 -49 207 Investments in group companies -6 216 922 Other investments -99 Paid subsidiary loans -4 424 372 Granted subsidiary loans Repayment of loan receivables 8 264 761 Changes in long-term receivables -8 461 9 635 CCaasshh ffllooww ffrroomm iinnvveessttmmeennttss ((BB)) --8833 990000 --22 441166 220044 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess --335588 883333 --11 888811 667766 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess Proceeds from financial instruments and deposits 1 627 878 Changes in short-term loans* -3 000 000 Changes in long-term loans* -1 604 742 104 742 Changes of own shares -218 195 Received intra-group financial support / dividend 3 508 062 2 955 000 Payment of dividends and other profit distribution CCaasshh ffllooww ffrroomm ffiinnaanncciinngg ((CC)) 11 990033 332200 11 446699 442255 CChhaannggee iinn ccaasshh aanndd ccaasshh eeqquuiivvaalleennttss ((AA++BB++CC)) 11 554444 448877 --441122 225511 Cash and cash equivalents at beginning of financial year 2 005 689 2 417 679 Cash and cash equivalents at the end of financial year 3 550 176 2 005 689 CCaasshh aanndd ccaasshh eeqquuiivvaalleennttss aaccccoorrddiinngg ttoo bbaallaannccee sshheeeett 11 554444 448877 --441122 225511 *Loan drawdowns and repayments are netted within the item 6 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 CCaasshh ffllooww ssttaatteemmeennttss ((ppaarreenntt ccoommppaannyy)) 11..11..-- 3311..1122..22002255 11..11..-- 3311..1122..22002244 CCaasshh ffllooww ffrroomm ooppeerraattiioonnss:: OOPPEERRAATTIINNGG PPRROOFFIITT ((--LLOOSSSS)) -1 819 787 -3 637 708 Adjustments: Depreciation according to plan 598 778 611 408 Financial income and expenses Other adjustments -852 738 -1 179 920 CCaasshh ffllooww bbeeffoorree cchhaannggeess iinn wwoorrkkiinngg ccaappiittaall --22 007733 774477 --44 220066 222200 Changes in working capital: Increase (-) or decrease (+) in trade and other receivables 419 484 2 174 551 Increase (-) or decrease (+) in trade payables 2 048 036 2 881 027 Cash flow from operations before taxes 339933 777733 884499 335588 Interest paid and other finance costs from operations -867 786 -1 077 793 Interests and other financial income from operations 199 081 762 963 Direct income taxes paid CCaasshh ffllooww ffrroomm ooppeerraattiioonnss ((AA)) --227744 993333 553344 552288 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess:: Investments in tangible and intangible items -75 439 -49 207 Investments in group companies -6 216 922 Other investments -99 Paid subsidiary loans -4 424 372 Granted subsidiary loans Repayment of loan receivables 8 264 761 Changes in long-term receivables -8 461 9 635 CCaasshh ffllooww ffrroomm iinnvveessttmmeennttss ((BB)) --8833 990000 --22 441166 220044 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess --335588 883333 --11 888811 667766 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess Proceeds from financial instruments and deposits 1 627 878 Changes in short-term loans* -3 000 000 Changes in long-term loans* -1 604 742 104 742 Changes of own shares -218 195 Received intra-group financial support / dividend 3 508 062 2 955 000 Payment of dividends and other profit distribution CCaasshh ffllooww ffrroomm ffiinnaanncciinngg ((CC)) 11 990033 332200 11 446699 442255 CChhaannggee iinn ccaasshh aanndd ccaasshh eeqquuiivvaalleennttss ((AA++BB++CC)) 11 554444 448877 --441122 225511 Cash and cash equivalents at beginning of financial year 2 005 689 2 417 679 Cash and cash equivalents at the end of financial year 3 550 176 2 005 689 CCaasshh aanndd ccaasshh eeqquuiivvaalleennttss aaccccoorrddiinngg ttoo bbaallaannccee sshheeeett 11 554444 448877 --441122 225511 *Loan drawdowns and repayments are netted within the item 6 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 CCaasshh ffllooww ssttaatteemmeennttss ((ppaarreenntt ccoommppaannyy)) 11..11..-- 3311..1122..22002255 11..11..-- 3311..1122..22002244 CCaasshh ffllooww ffrroomm ooppeerraattiioonnss:: OOPPEERRAATTIINNGG PPRROOFFIITT ((--LLOOSSSS)) -1 819 787 -3 637 708 Adjustments: Depreciation according to plan 598 778 611 408 Financial income and expenses Other adjustments -852 738 -1 179 920 CCaasshh ffllooww bbeeffoorree cchhaannggeess iinn wwoorrkkiinngg ccaappiittaall --22 007733 774477 --44 220066 222200 Changes in working capital: Increase (-) or decrease (+) in trade and other receivables 419 484 2 174 551 Increase (-) or decrease (+) in trade payables 2 048 036 2 881 027 Cash flow from operations before taxes 339933 777733 884499 335588 Interest paid and other finance costs from operations -867 786 -1 077 793 Interests and other financial income from operations 199 081 762 963 Direct income taxes paid CCaasshh ffllooww ffrroomm ooppeerraattiioonnss ((AA)) --227744 993333 553344 552288 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess:: Investments in tangible and intangible items -75 439 -49 207 Investments in group companies -6 216 922 Other investments -99 Paid subsidiary loans -4 424 372 Granted subsidiary loans Repayment of loan receivables 8 264 761 Changes in long-term receivables -8 461 9 635 CCaasshh ffllooww ffrroomm iinnvveessttmmeennttss ((BB)) --8833 990000 --22 441166 220044 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess --335588 883333 --11 888811 667766 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess Proceeds from financial instruments and deposits 1 627 878 Changes in short-term loans* -3 000 000 Changes in long-term loans* -1 604 742 104 742 Changes of own shares -218 195 Received intra-group financial support / dividend 3 508 062 2 955 000 Payment of dividends and other profit distribution CCaasshh ffllooww ffrroomm ffiinnaanncciinngg ((CC)) 11 990033 332200 11 446699 442255 CChhaannggee iinn ccaasshh aanndd ccaasshh eeqquuiivvaalleennttss ((AA++BB++CC)) 11 554444 448877 --441122 225511 Cash and cash equivalents at beginning of financial year 2 005 689 2 417 679 Cash and cash equivalents at the end of financial year 3 550 176 2 005 689 CCaasshh aanndd ccaasshh eeqquuiivvaalleennttss aaccccoorrddiinngg ttoo bbaallaannccee sshheeeett 11 554444 448877 --441122 225511 *Loan drawdowns and repayments are netted within the item 6 RRoobbiitt PPllcc BBuussiinneessss IIDD:: 00882255662277--00 CCaasshh ffllooww ssttaatteemmeennttss ((ppaarreenntt ccoommppaannyy)) 11..11..-- 3311..1122..22002255 11..11..-- 3311..1122..22002244 CCaasshh ffllooww ffrroomm ooppeerraattiioonnss:: OOPPEERRAATTIINNGG PPRROOFFIITT ((--LLOOSSSS)) -1 819 787 -3 637 708 Adjustments: Depreciation according to plan 598 778 611 408 Financial income and expenses Other adjustments -852 738 -1 179 920 CCaasshh ffllooww bbeeffoorree cchhaannggeess iinn wwoorrkkiinngg ccaappiittaall --22 007733 774477 --44 220066 222200 Changes in working capital: Increase (-) or decrease (+) in trade and other receivables 419 484 2 174 551 Increase (-) or decrease (+) in trade payables 2 048 036 2 881 027 Cash flow from operations before taxes 339933 777733 884499 335588 Interest paid and other finance costs from operations -867 786 -1 077 793 Interests and other financial income from operations 199 081 762 963 Direct income taxes paid CCaasshh ffllooww ffrroomm ooppeerraattiioonnss ((AA)) --227744 993333 553344 552288 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess:: Investments in tangible and intangible items -75 439 -49 207 Investments in group companies -6 216 922 Other investments -99 Paid subsidiary loans -4 424 372 Granted subsidiary loans Repayment of loan receivables 8 264 761 Changes in long-term receivables -8 461 9 635 CCaasshh ffllooww ffrroomm iinnvveessttmmeennttss ((BB)) --8833 990000 --22 441166 220044 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess --335588 883333 --11 888811 667766 CCaasshh fflloowwss ffrroomm iinnvveessttiinngg aaccttiivviittiieess Proceeds from financial instruments and deposits 1 627 878 Changes in short-term loans* -3 000 000 Changes in long-term loans* -1 604 742 104 742 Changes of own shares -218 195 Received intra-group financial support / dividend 3 508 062 2 955 000 Payment of dividends and other profit distribution CCaasshh ffllooww ffrroomm ffiinnaanncciinngg ((CC)) 11 990033 332200 11 446699 442255 CChhaannggee iinn ccaasshh aanndd ccaasshh eeqquuiivvaalleennttss ((AA++BB++CC)) 11 554444 448877 --441122 225511 Cash and cash equivalents at beginning of financial year 2 005 689 2 417 679 Cash and cash equivalents at the end of financial year 3 550 176 2 005 689 CCaasshh aanndd ccaasshh eeqquuiivvaalleennttss aaccccoorrddiinngg ttoo bbaallaannccee sshheeeett 11 554444 448877 --441122 225511 *Loan drawdowns and repayments are netted within the item
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104 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Notes to the Financial Statements Applied Accounting Principles Company information Robit group is specializing to sell, design and manufacture drilling consumables. Robit Plc is a company listed in Nasdaq OMX Helsinki Ltd main list Finland marketplace with trading code ROBIT. Robit Plc has a registered address in Vikkiniityntie 9, FI-33880 Lempäälä, Finland. Group information Robit Plc is the parent company of Robit group. The consolidated financial statements are prepared in accordance with IFRS and the parent company’s separate financial statements in accordance with Finnish GAAP . The Group’s accounting principles are described in the Group’s notes. Copy of the consolidated group accounts is available in the group headquarters at Vikkiniityntie 9, FI-33880, Lempäälä, Finland. Material events during the period Harri Sjöholm, Markku Teräsvasara, Eeva-Liisa Virkkunen, Mikko Kuitunen, and Kai Telanne were elected to the company's board as old members. Helena Kauppinen was elected as a new board member. Markku Teräsvasara was elected as chairman of the board and Harri Sjöholm as vice chairman. At the end of financial year 2025 the company had 38 357 own shares corresponding to 0,2 % of the company’s share capital. Material events after the financial period Chair of the Board Markku Teräsvasara resigned from the company’s Board of Directors on 31 December 2025, and the Board elected from among its members the Vice Chair, Harri Sjöholm, as Chair of the Board as of 1 January 2026 until the Annual General Meeting on 1 April 2026. Valuation principles of Non-Current assets Variable costs resulting from acquisition and manufacture of assets have been included in the acquisition cost of the non-current assets. The non-current assets will be depreciated during their useful life according to plan. Buildings and movable assets are depreciated during their economic life. Depreciation periods Development costs 5 years Straight-line depreciation Other long-term expenses 5–7 years Straight-line depreciation Capitalized listing expenses 5–10 years Straight-line depreciation Buildings 30 years Straight-line depreciation Machinery and equipment of buildings 15 years Straight-line depreciation Structures 10 years Straight-line depreciation Machinery and equipment 5–10 years Straight-line depreciation Other tangible assets 5–10 years Straight-line depreciation The depreciation time of development expenses and other tangible assets vary between 5 to 7 years and they are in line with manage- ment’s view of the economic lifetime.
Page 105
105 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Investment Investments are valued by acquisition price. A write-down of EUR 2 426,87 was made to the shares of Robit Asia Ltd during the accounting period. Valuation of inventories Inventories are presented at variable acquisition cost or lower probable sale price. Variable direct costs have been included in the acqui- sition cost of inventories. Items in foreign currencies Receivables and payables in foreign currencies have been converted to Finnish currency by using the respective exchange rate at the closing date. Net sales by geographical market area: Personnel information Salaries of Members of the Board of Directors and managing director 8 IInnvveessttmmeenntt Investments are valued by acquisition price. A write-down of EUR 2 426,87 was made to the shares of Robit Asia Ltd during the accounting period. VVaalluuaattiioonn ooff iinnvveennttoorriieess Inventories are presented at variable acquisition cost or lower probable sale price. Variable direct costs have been included in the acquisition cost of inventories. IItteemmss iinn ffoorreeiiggnn ccuurrrreenncciieess Receivables and payables in foreign currencies have been converted to Finnish currency by using the respective exchange rate at the closing date. NNeett ssaalleess bbyy ggeeooggrraapphhiiccaall mmaarrkkeett aarreeaa:: 3311..1122..22002255 3311..1122..22002244 Domestic 2 074 700 1 913 292 European community Other countries 3 948 633 3 095 781 Total 6 023 333 5 009 073 PPeerrssoonnnneell iinnffoorrmmaattiioonn 3311..1122..22002255 3311..1122..22002244 Average count of personnel Office workers 8 8 SSaallaarriieess ooff MMeemmbbeerrss ooff tthhee BBooaarrdd ooff DDiirreeccttoorrss aanndd mmaannaaggiinngg ddiirreeccttoorr 3311..1122..22002255 3311..1122..22002244 CEO Arto Halonen (until 5.8.2025) 163 477 206 676 CEO Mikko Kuusilehto (since 6.8.2025) 94 377 0 225577 885544 220066 667766 22002255 22002244 Members of the Board of Directors Markku Teräsvasara (until 31.12.2025) 73 476 73 300 Harri Sjöholm 51 657 49 300 Mikko Kuitunen 46 412 43 900 Anne Koutonen (until 3.4.2024) 0 2 900 Helena Kauppinen (since 8.4.2025) 41 500 0 Eeva-Liisa Virkkunen 47 981 44 700 Lasse Aho (until 8.4.2025) 4 250 46 200 Kai Telanne (since 3.4.2024) 42 824 38 900 330088 009999 229999 330000 8 IInnvveessttmmeenntt Investments are valued by acquisition price. A write-down of EUR 2 426,87 was made to the shares of Robit Asia Ltd during the accounting period. VVaalluuaattiioonn ooff iinnvveennttoorriieess Inventories are presented at variable acquisition cost or lower probable sale price. Variable direct costs have been included in the acquisition cost of inventories. IItteemmss iinn ffoorreeiiggnn ccuurrrreenncciieess Receivables and payables in foreign currencies have been converted to Finnish currency by using the respective exchange rate at the closing date. NNeett ssaalleess bbyy ggeeooggrraapphhiiccaall mmaarrkkeett aarreeaa:: 3311..1122..22002255 3311..1122..22002244 Domestic 2 074 700 1 913 292 European community Other countries 3 948 633 3 095 781 Total 6 023 333 5 009 073 PPeerrssoonnnneell iinnffoorrmmaattiioonn 3311..1122..22002255 3311..1122..22002244 Average count of personnel Office workers 8 8 SSaallaarriieess ooff MMeemmbbeerrss ooff tthhee BBooaarrdd ooff DDiirreeccttoorrss aanndd mmaannaaggiinngg ddiirreeccttoorr 3311..1122..22002255 3311..1122..22002244 CEO Arto Halonen (until 5.8.2025) 163 477 206 676 CEO Mikko Kuusilehto (since 6.8.2025) 94 377 0 225577 885544 220066 667766 22002255 22002244 Members of the Board of Directors Markku Teräsvasara (until 31.12.2025) 73 476 73 300 Harri Sjöholm 51 657 49 300 Mikko Kuitunen 46 412 43 900 Anne Koutonen (until 3.4.2024) 0 2 900 Helena Kauppinen (since 8.4.2025) 41 500 0 Eeva-Liisa Virkkunen 47 981 44 700 Lasse Aho (until 8.4.2025) 4 250 46 200 Kai Telanne (since 3.4.2024) 42 824 38 900 330088 009999 229999 330000 8 IInnvveessttmmeenntt Investments are valued by acquisition price. A write-down of EUR 2 426,87 was made to the shares of Robit Asia Ltd during the accounting period. VVaalluuaattiioonn ooff iinnvveennttoorriieess Inventories are presented at variable acquisition cost or lower probable sale price. Variable direct costs have been included in the acquisition cost of inventories. IItteemmss iinn ffoorreeiiggnn ccuurrrreenncciieess Receivables and payables in foreign currencies have been converted to Finnish currency by using the respective exchange rate at the closing date. NNeett ssaalleess bbyy ggeeooggrraapphhiiccaall mmaarrkkeett aarreeaa:: 3311..1122..22002255 3311..1122..22002244 Domestic 2 074 700 1 913 292 European community Other countries 3 948 633 3 095 781 Total 6 023 333 5 009 073 PPeerrssoonnnneell iinnffoorrmmaattiioonn 3311..1122..22002255 3311..1122..22002244 Average count of personnel Office workers 8 8 SSaallaarriieess ooff MMeemmbbeerrss ooff tthhee BBooaarrdd ooff DDiirreeccttoorrss aanndd mmaannaaggiinngg ddiirreeccttoorr 3311..1122..22002255 3311..1122..22002244 CEO Arto Halonen (until 5.8.2025) 163 477 206 676 CEO Mikko Kuusilehto (since 6.8.2025) 94 377 0 225577 885544 220066 667766 22002255 22002244 Members of the Board of Directors Markku Teräsvasara (until 31.12.2025) 73 476 73 300 Harri Sjöholm 51 657 49 300 Mikko Kuitunen 46 412 43 900 Anne Koutonen (until 3.4.2024) 0 2 900 Helena Kauppinen (since 8.4.2025) 41 500 0 Eeva-Liisa Virkkunen 47 981 44 700 Lasse Aho (until 8.4.2025) 4 250 46 200 Kai Telanne (since 3.4.2024) 42 824 38 900 330088 009999 229999 330000
Page 106
106 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Auditors’ fees detail Depreciation according to plan by balance sheet items Tangible and intangible assets 9 AAuuddiittoorrss’’ ffeeeess ddeettaaiill 3311..1122..22002255 3311..1122..22002244 1 ) Statutory audit 195 650 127 300 2 ) Assignments according to the Auditing act 1,1 § 0 0 3 ) Tax consulting 0 0 4 ) Other services 0 15 750 195 650 143 050 DDeepprreecciiaattiioonn aaccccoorrddiinngg ttoo ppllaann bbyy bbaallaannccee sshheeeett iitteemmss 3311..1122..22002255 3311..1122..22002244 Development costs 27 247,66 32 963,41 Intellectual property rights 63 696,11 74 266,47 Other non-current expenses 292 404,96 290 304,90 Buildings 206 974,44 206 694,55 Machinery and equipment 8 454,72 7 178,28 598 777,89 611 407,61 TTaannggiibbllee aanndd iinnttaannggiibbllee aasssseettss 3311..1122..22002255 3311..1122..22002244 DDeevveellooppmmeenntt ccoossttss Acquisition cost 1.1. 2 228 400,28 2 303 239,45 Additions 25 000,00 0,00 Disposals* 0,00 -74 839,17 Acquisition cost 31.12. 2 253 400,28 2 228 400,28 Accumulated depreciation 1.1. -2 201 374,24 -2 243 250,00 Disposals and impairment* 0,00 74 839,17 Depreciation for the financial period -27 247,66 -32 963,41 Book value 31.12. 24 778,38 27 026,04 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 74 839,17 euros. IInnttaannggiibbllee aasssseettss Acquisition cost 1.1. 1 411 267,22 1 451 049,62 Additions 50 439,44 39 167,56 Disposals* 0,00 -49 019,87 Reclassifications 0,00 -29 930,09 Acquisition cost 31.12. 1 461 706,66 1 411 267,22 Accumulated depreciation 1.1. -1 259 078,87 -1 263 762,36 Disposals and impairment* 0,00 49 019,87 Reclassifications 0,00 29 930,09 Depreciation for the financial period -63 696,11 -74 266,47 Book value 31.12. 138 931,68 152 188,35 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 49 019,87 euros. 9 AAuuddiittoorrss’’ ffeeeess ddeettaaiill 3311..1122..22002255 3311..1122..22002244 1 ) Statutory audit 195 650 127 300 2 ) Assignments according to the Auditing act 1,1 § 0 0 3 ) Tax consulting 0 0 4 ) Other services 0 15 750 195 650 143 050 DDeepprreecciiaattiioonn aaccccoorrddiinngg ttoo ppllaann bbyy bbaallaannccee sshheeeett iitteemmss 3311..1122..22002255 3311..1122..22002244 Development costs 27 247,66 32 963,41 Intellectual property rights 63 696,11 74 266,47 Other non-current expenses 292 404,96 290 304,90 Buildings 206 974,44 206 694,55 Machinery and equipment 8 454,72 7 178,28 598 777,89 611 407,61 TTaannggiibbllee aanndd iinnttaannggiibbllee aasssseettss 3311..1122..22002255 3311..1122..22002244 DDeevveellooppmmeenntt ccoossttss Acquisition cost 1.1. 2 228 400,28 2 303 239,45 Additions 25 000,00 0,00 Disposals* 0,00 -74 839,17 Acquisition cost 31.12. 2 253 400,28 2 228 400,28 Accumulated depreciation 1.1. -2 201 374,24 -2 243 250,00 Disposals and impairment* 0,00 74 839,17 Depreciation for the financial period -27 247,66 -32 963,41 Book value 31.12. 24 778,38 27 026,04 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 74 839,17 euros. IInnttaannggiibbllee aasssseettss Acquisition cost 1.1. 1 411 267,22 1 451 049,62 Additions 50 439,44 39 167,56 Disposals* 0,00 -49 019,87 Reclassifications 0,00 -29 930,09 Acquisition cost 31.12. 1 461 706,66 1 411 267,22 Accumulated depreciation 1.1. -1 259 078,87 -1 263 762,36 Disposals and impairment* 0,00 49 019,87 Reclassifications 0,00 29 930,09 Depreciation for the financial period -63 696,11 -74 266,47 Book value 31.12. 138 931,68 152 188,35 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 49 019,87 euros. 9 AAuuddiittoorrss’’ ffeeeess ddeettaaiill 3311..1122..22002255 3311..1122..22002244 1 ) Statutory audit 195 650 127 300 2 ) Assignments according to the Auditing act 1,1 § 0 0 3 ) Tax consulting 0 0 4 ) Other services 0 15 750 195 650 143 050 DDeepprreecciiaattiioonn aaccccoorrddiinngg ttoo ppllaann bbyy bbaallaannccee sshheeeett iitteemmss 3311..1122..22002255 3311..1122..22002244 Development costs 27 247,66 32 963,41 Intellectual property rights 63 696,11 74 266,47 Other non-current expenses 292 404,96 290 304,90 Buildings 206 974,44 206 694,55 Machinery and equipment 8 454,72 7 178,28 598 777,89 611 407,61 TTaannggiibbllee aanndd iinnttaannggiibbllee aasssseettss 3311..1122..22002255 3311..1122..22002244 DDeevveellooppmmeenntt ccoossttss Acquisition cost 1.1. 2 228 400,28 2 303 239,45 Additions 25 000,00 0,00 Disposals* 0,00 -74 839,17 Acquisition cost 31.12. 2 253 400,28 2 228 400,28 Accumulated depreciation 1.1. -2 201 374,24 -2 243 250,00 Disposals and impairment* 0,00 74 839,17 Depreciation for the financial period -27 247,66 -32 963,41 Book value 31.12. 24 778,38 27 026,04 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 74 839,17 euros. IInnttaannggiibbllee aasssseettss Acquisition cost 1.1. 1 411 267,22 1 451 049,62 Additions 50 439,44 39 167,56 Disposals* 0,00 -49 019,87 Reclassifications 0,00 -29 930,09 Acquisition cost 31.12. 1 461 706,66 1 411 267,22 Accumulated depreciation 1.1. -1 259 078,87 -1 263 762,36 Disposals and impairment* 0,00 49 019,87 Reclassifications 0,00 29 930,09 Depreciation for the financial period -63 696,11 -74 266,47 Book value 31.12. 138 931,68 152 188,35 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 49 019,87 euros. 9 AAuuddiittoorrss’’ ffeeeess ddeettaaiill 3311..1122..22002255 3311..1122..22002244 1 ) Statutory audit 195 650 127 300 2 ) Assignments according to the Auditing act 1,1 § 0 0 3 ) Tax consulting 0 0 4 ) Other services 0 15 750 195 650 143 050 DDeepprreecciiaattiioonn aaccccoorrddiinngg ttoo ppllaann bbyy bbaallaannccee sshheeeett iitteemmss 3311..1122..22002255 3311..1122..22002244 Development costs 27 247,66 32 963,41 Intellectual property rights 63 696,11 74 266,47 Other non-current expenses 292 404,96 290 304,90 Buildings 206 974,44 206 694,55 Machinery and equipment 8 454,72 7 178,28 598 777,89 611 407,61 TTaannggiibbllee aanndd iinnttaannggiibbllee aasssseettss 3311..1122..22002255 3311..1122..22002244 DDeevveellooppmmeenntt ccoossttss Acquisition cost 1.1. 2 228 400,28 2 303 239,45 Additions 25 000,00 0,00 Disposals* 0,00 -74 839,17 Acquisition cost 31.12. 2 253 400,28 2 228 400,28 Accumulated depreciation 1.1. -2 201 374,24 -2 243 250,00 Disposals and impairment* 0,00 74 839,17 Depreciation for the financial period -27 247,66 -32 963,41 Book value 31.12. 24 778,38 27 026,04 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 74 839,17 euros. IInnttaannggiibbllee aasssseettss Acquisition cost 1.1. 1 411 267,22 1 451 049,62 Additions 50 439,44 39 167,56 Disposals* 0,00 -49 019,87 Reclassifications 0,00 -29 930,09 Acquisition cost 31.12. 1 461 706,66 1 411 267,22 Accumulated depreciation 1.1. -1 259 078,87 -1 263 762,36 Disposals and impairment* 0,00 49 019,87 Reclassifications 0,00 29 930,09 Depreciation for the financial period -63 696,11 -74 266,47 Book value 31.12. 138 931,68 152 188,35 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 49 019,87 euros.
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107 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 10 OOtthheerr nnoonn--ccuurrrreenntt eexxppeennsseess Acquisition cost 1.1. 6 824 555,15 7 128 453,80 Disposals* 0,00 -333 828,72 Reclassifications 0,00 29 930,07 Acquisition cost 31.12. 6 824 555,15 6 824 555,15 Accumulated depreciation 1.1. -6 117 462,70 -6 124 056,45 Disposals and impairment* 0,00 326 828,72 Reclassifications 0,00 -29 930,07 Depreciation for the financial period -292 404,96 -290 304,90 Book value 31.12. 414 687,49 707 092,45 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 326 828,72 euros. LLaanndd aanndd wwaatteerr aarreeaass Acquisition cost 1.1. 195 178,87 195 178,87 Book value 31.12. 195 178,87 195 178,87 BBuuiillddiinnggss aanndd ssttrruuccttuurreess Acquisition cost 1.1. 6 078 032,69 6 272 043,31 Additions 0,00 11 471,10 Disposals* 0,00 -205 481,72 Acquisition cost 31.12. 6 078 032,69 6 078 032,69 Accumulated depreciation 1.1. -2 786 350,47 -2 785 136,20 Disposals and impairment* 0,00 205 480,28 Depreciation for the financial period -206 974,44 -206 694,55 Book value 31.12. 3 084 707,78 3 291 682,22 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 205 480,28 euros. MMaacchhiinneerryy aanndd eeqquuiippmmeenntt Acquisition cost 1.1. 483 442,29 2 308 377,55 Additions 0,00 28 569,75 Disposals* 0,00 -1 853 505,01 Acquisition cost 31.12. 483 442,29 483 442,29 Accumulated depreciation 1.1. -456 759,22 -2 280 085,95 Disposals and impairment* 0,00 1 830 505,01 Depreciation for the financial period -8 454,72 -7 178,28 Book value 31.12. 18 228,35 26 683,07 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 1 830 505,01 euros. OOtthheerr ttaannggiibbllee aasssseettss Acquisition cost 1.1. 94 544,20 99 065,05 Disposals* 0,00 -4 520,85 Acquisition cost 31.12. 94 544,20 94 544,20
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108 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 1) Robit SAC and Robit Australia Pty Ltd, conversion of subsidiary loan receivables to subsidiary shares 2024 2) Robit Asia Ltd, write down 2025 and Robit Australia Pty Ltd, write-down 2024 The shares held by the company of which the ownership exceeds 20 % Subsidiaries owned by the Group companies Halco USA LLC 100%, parent company Robit INC. Halco Drilling Ltd UK 100%, parent company Robit UK Ltd Halco Brighouse Ltd, UK 100%, parent company Robit UK Ltd 1) 1 % ownership of Robit INC, USA 2) In 2015, Robit SA established a trust in South Africa called the Black Employees Empowerment Trust ("Trust"). The purpose of the Trust is to support Robit SA's local colored workers and create better business opportunities for Robit in South Africa. Robit SA conducted a directed share emission for the trust. As a result, the foundation owns 26 % of Robit SA's shares. However, Robit SA is deemed to have control over the trust. 3) Robit Asia Ltd was closed in March 2025 11 Accumulated depreciation 1.1. -92 953,49 -97 474,34 Disposals and impairment* 0,00 4 520,85 Book value 31.12. 1 590,71 1 590,71 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 4 520,85 euros. SShhaarreess iinn ssuubbssiiddiiaarriieess Opening balance 1.1. 39 348 559,28 43 331 637,57 Additions 1) 0,00 6 216 921,71 Deductions 2) -2 426,87 -10 200 000,00 Nook value31.12. 39 346 132,41 39 348 559,28 1) Robit SAC and Robit Australia Pty Ltd, conversion of subsidiary loan receivables to subsidiary shares 2024 2) Robit Asia Ltd, write down 2025 and Robit Australia Pty Ltd, write-down 2024 TThhee sshhaarreess hheelldd bbyy tthhee ccoommppaannyy ooff wwhhiicchh tthhee oowwnneerrsshhiipp eexxcceeeeddss 2200 %% 3311..1122..22002255 3311..1122..22002244 SShhaarree %% SShhaarree %% Robit Korea LTD, Korea 100 % 100 % Robit OOO, Russia 100 % 100 % Robit Inc. USA 100 % 100 % Robit SA Ltd, South Africa 2) 74 % 74 % Robit S.A.C, Peru 1) 99 % 99 % Robit Finland Oy Ltd, Finland 100 % 100 % Robit Australia Holdings Ltd, Australia 100 % 100 % Robit GB Ltd, UK 100 % 100 % Robit UK Ltd, UK 100 % 100 % Robit Asia Ltd, Hong Kong 3) 100 % Subsidiaries owned by the Group companies Halco USA LLC 100%, parent company Robit INC. Halco Drilling Ltd UK 100%, parent company Robit UK Ltd Halco Brighouse Ltd, UK 100%, parent company Robit UK Ltd 1) 1 % ownership of Robit INC, USA 2) In 2015, Robit SA established a trust in South Africa called the Black Employees Empowerment Trust ("Trust"). The purpose of the Trust is to support Robit SA's local colored workers and create better business opportunities for Robit in South Africa. Robit SA conducted a directed share emission for the trust. As a result, the foundation owns 26 % of Robit SA's shares. However, Robit SA is deemed to have control over the trust. 3) Robit Asia Ltd was closed in March 2025. 11 Accumulated depreciation 1.1. -92 953,49 -97 474,34 Disposals and impairment* 0,00 4 520,85 Book value 31.12. 1 590,71 1 590,71 *Includes an adjustment of a balance accumulated from prior financial years in the comparison period. The amount is 4 520,85 euros. SShhaarreess iinn ssuubbssiiddiiaarriieess Opening balance 1.1. 39 348 559,28 43 331 637,57 Additions 1) 0,00 6 216 921,71 Deductions 2) -2 426,87 -10 200 000,00 Nook value31.12. 39 346 132,41 39 348 559,28 1) Robit SAC and Robit Australia Pty Ltd, conversion of subsidiary loan receivables to subsidiary shares 2024 2) Robit Asia Ltd, write down 2025 and Robit Australia Pty Ltd, write-down 2024 TThhee sshhaarreess hheelldd bbyy tthhee ccoommppaannyy ooff wwhhiicchh tthhee oowwnneerrsshhiipp eexxcceeeeddss 2200 %% 3311..1122..22002255 3311..1122..22002244 SShhaarree %% SShhaarree %% Robit Korea LTD, Korea 100 % 100 % Robit OOO, Russia 100 % 100 % Robit Inc. USA 100 % 100 % Robit SA Ltd, South Africa 2) 74 % 74 % Robit S.A.C, Peru 1) 99 % 99 % Robit Finland Oy Ltd, Finland 100 % 100 % Robit Australia Holdings Ltd, Australia 100 % 100 % Robit GB Ltd, UK 100 % 100 % Robit UK Ltd, UK 100 % 100 % Robit Asia Ltd, Hong Kong 3) 100 % Subsidiaries owned by the Group companies Halco USA LLC 100%, parent company Robit INC. Halco Drilling Ltd UK 100%, parent company Robit UK Ltd Halco Brighouse Ltd, UK 100%, parent company Robit UK Ltd 1) 1 % ownership of Robit INC, USA 2) In 2015, Robit SA established a trust in South Africa called the Black Employees Empowerment Trust ("Trust"). The purpose of the Trust is to support Robit SA's local colored workers and create better business opportunities for Robit in South Africa. Robit SA conducted a directed share emission for the trust. As a result, the foundation owns 26 % of Robit SA's shares. However, Robit SA is deemed to have control over the trust. 3) Robit Asia Ltd was closed in March 2025.
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109 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Material items of accrued income The items included in the accrued income are normal financial statement accruals. Changes of equity during the financial period 12 MMaatteerriiaall iitteemmss ooff aaccccrruueedd iinnccoommee The items included in the accrued income are normal financial statement accruals. 3311..1122..22002255 3311..1122..22002244 RReecceeiivvaabblleess ffrroomm ggrroouupp ccoommppaanniieess Trade receivables 2 841 671,24 3 079 104,12 Group loan receivables 13 397 448,92 14 083 361,39 Other group receivables 9 532 071,85 8 822 666,35 25 771 192,01 25 985 131,86 LLooaannss ffrroomm ggrroouupp ccoommppaanniieess Account payables 35 356,47 0,00 Other accruals 11 835 259,68 9 333 970,64 11 870 616,15 9 333 970,64 MMaatteerriiaall iitteemmss iinn aaccccrruueedd eexxppeennsseess Personnel cost accruals 161 337,72 208 441,59 Other accruals 54 990,49 195 272,45 216 328,21 403 714,04 CChhaannggeess ooff eeqquuiittyy dduurriinngg tthhee ffiinnaanncciiaall ppeerriioodd 3311..1122..22002255 3311..1122..22002244 Share capital 1.1. 705 025,14 705 025,14 Share capital 31.12. 705 025,14 705 025,14 Share premium reserve 201 825,51 201 825,51 Invested unrestricted equity fund 1.1 84 778 931,04 84 778 931,04 Invested unrestricted equity fund 31.12 84 778 931,04 84 778 931,04 Retained earnings of previous periods 1.1. -34 076 185,36 -23 592 096,09 Prior year profit / loss -10 135 077,28 -10 373 717,93 Acquisition/distribution of own shares 83 200,08 -110 371,34 Retained earnings 31.12 -44 128 062,56 -34 076 185,36 Profit / loss for the period 222 694,98 -10 135 077,28 -43 905 367,58 -44 211 262,64 Restricted equity 906 850,65 906 850,65 Distributable shareholders´ equity 40 873 563,46 40 567 668,40 SShhaarreehhoollddeerrss’’ eeqquuiittyy 4411 778800 441144,,1111 4411 447744 551199,,0055 12 MMaatteerriiaall iitteemmss ooff aaccccrruueedd iinnccoommee The items included in the accrued income are normal financial statement accruals. 3311..1122..22002255 3311..1122..22002244 RReecceeiivvaabblleess ffrroomm ggrroouupp ccoommppaanniieess Trade receivables 2 841 671,24 3 079 104,12 Group loan receivables 13 397 448,92 14 083 361,39 Other group receivables 9 532 071,85 8 822 666,35 25 771 192,01 25 985 131,86 LLooaannss ffrroomm ggrroouupp ccoommppaanniieess Account payables 35 356,47 0,00 Other accruals 11 835 259,68 9 333 970,64 11 870 616,15 9 333 970,64 MMaatteerriiaall iitteemmss iinn aaccccrruueedd eexxppeennsseess Personnel cost accruals 161 337,72 208 441,59 Other accruals 54 990,49 195 272,45 216 328,21 403 714,04 CChhaannggeess ooff eeqquuiittyy dduurriinngg tthhee ffiinnaanncciiaall ppeerriioodd 3311..1122..22002255 3311..1122..22002244 Share capital 1.1. 705 025,14 705 025,14 Share capital 31.12. 705 025,14 705 025,14 Share premium reserve 201 825,51 201 825,51 Invested unrestricted equity fund 1.1 84 778 931,04 84 778 931,04 Invested unrestricted equity fund 31.12 84 778 931,04 84 778 931,04 Retained earnings of previous periods 1.1. -34 076 185,36 -23 592 096,09 Prior year profit / loss -10 135 077,28 -10 373 717,93 Acquisition/distribution of own shares 83 200,08 -110 371,34 Retained earnings 31.12 -44 128 062,56 -34 076 185,36 Profit / loss for the period 222 694,98 -10 135 077,28 -43 905 367,58 -44 211 262,64 Restricted equity 906 850,65 906 850,65 Distributable shareholders´ equity 40 873 563,46 40 567 668,40 SShhaarreehhoollddeerrss’’ eeqquuiittyy 4411 778800 441144,,1111 4411 447744 551199,,0055 13 DDiissttrriibbuuttaabbllee eeqquuiittyy Invested unrestricted equity fund 84 778 931,04 84 778 931,04 Retained earnings of previous periods -44 128 062,56 -34 076 185,36 Profit / loss for the period 222 694,98 -10 135 077,28 Capitalised R&D expenses -24 778,38 -27 026,04 4400 884488 778855,,0088 4400 554400 664422,,3366 AAccccrruueedd aapppprroopprriiaattiioonnss Depreciation difference, buildings 377 279,66 397 653,43 Depreciation difference, machinery and equipment 60 072,65 58 034,55 443377 335522,,3311 445555 668877,,9988 IInnccoommee ttaaxx Foreign withholding taxes 75 248,88 8 296,25 7755 224488,,8888 88 229966,,2255 DDeeffeerrrreedd ttaaxx aasssseettss aanndd lliiaabbiilliittiieess nnoott pprreesseenntteedd iinn bbaallaannccee sshheeeett Deferred tax asset from recognized losses 2 769 365,51 3 129 954,42 Deferred tax liabilities from depreciation differences 87 470,46 91 137,60 AAmmoouunntt ooff sshhaarreess iinn tthhee ccoommppaannyy bbyy tthheeiirr ccllaassss ooff sshhaarree aanndd mmaaiinn pprroovviissiioonnss ccoonncceerrnniinngg eeaacchh ccllaassss ooff sshhaarree.. 3311..1122..22002255 3311..1122..22002244 All shares are of the same class 21 179 900 shares 21 179 900 shares RReellaatteedd ppaarrttyy llooaannss ttoo ggrroouupp ssuubbssiiddiiaarriieess The parent company has granted loans to its subsidiaries to finance their business operations. The loans carry different interest rates and maturities. At the reporting date, the aggregate principal amount of subsidiary loans was EUR 13,4 million (EUR 14,1 million in the previous financial year). The interest rates on the loans range between 3 ,00 % and 5 ,25 %. The loans are unsecured, and in the company’s assessment their terms are on arm’s-length basis. LLooaann rreecceeiivvaabblleess oorriiggiinnaallllyy ffrroomm rreellaatteedd ppaarrttiieess In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connection with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years, and the interest rate is 12-month Euribor plus a margin of 0,99%. 3311..1122..22002255 3311..1122..22002244 Receivables 45 707,00 60 818,00
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110 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Deferred tax assets and liabilities not presented in balance sheet Amount of shares in the company by their class of share and main provisions concerning each class of share. Loans maturing in more than 5 years Related party loans to group subsidiaries The parent company has granted loans to its subsidiaries to finance their business operations. The loans carry different interest rates and maturities. At the reporting date, the aggregate principal amount of subsidiary loans was EUR 13,4 million (EUR 14,1 million in the previous financial year). The interest rates on the loans range between 3,00 % and 5,25 %. The loans are unsecured, and in the company’s assessment their terms are on arm’s length basis. Loan receivables originally from related parties In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connec - tion with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years, and the interest rate is 12-month Euribor plus a margin of 0,99%. Pledges and mortgages and mortgages pledged as a security for debt as well as bills of exchange, guarantee and other liabil- ities and contingent liabilities Accrued appropriations Income tax 13 DDiissttrriibbuuttaabbllee eeqquuiittyy Invested unrestricted equity fund 84 778 931,04 84 778 931,04 Retained earnings of previous periods -44 128 062,56 -34 076 185,36 Profit / loss for the period 222 694,98 -10 135 077,28 Capitalised R&D expenses -24 778,38 -27 026,04 4400 884488 778855,,0088 4400 554400 664422,,3366 AAccccrruueedd aapppprroopprriiaattiioonnss Depreciation difference, buildings 377 279,66 397 653,43 Depreciation difference, machinery and equipment 60 072,65 58 034,55 443377 335522,,3311 445555 668877,,9988 IInnccoommee ttaaxx Foreign withholding taxes 75 248,88 8 296,25 7755 224488,,8888 88 229966,,2255 DDeeffeerrrreedd ttaaxx aasssseettss aanndd lliiaabbiilliittiieess nnoott pprreesseenntteedd iinn bbaallaannccee sshheeeett Deferred tax asset from recognized losses 2 769 365,51 3 129 954,42 Deferred tax liabilities from depreciation differences 87 470,46 91 137,60 AAmmoouunntt ooff sshhaarreess iinn tthhee ccoommppaannyy bbyy tthheeiirr ccllaassss ooff sshhaarree aanndd mmaaiinn pprroovviissiioonnss ccoonncceerrnniinngg eeaacchh ccllaassss ooff sshhaarree.. 3311..1122..22002255 3311..1122..22002244 All shares are of the same class 21 179 900 shares 21 179 900 shares RReellaatteedd ppaarrttyy llooaannss ttoo ggrroouupp ssuubbssiiddiiaarriieess The parent company has granted loans to its subsidiaries to finance their business operations. The loans carry different interest rates and maturities. At the reporting date, the aggregate principal amount of subsidiary loans was EUR 13,4 million (EUR 14,1 million in the previous financial year). The interest rates on the loans range between 3 ,00 % and 5 ,25 %. The loans are unsecured, and in the company’s assessment their terms are on arm’s-length basis. LLooaann rreecceeiivvaabblleess oorriiggiinnaallllyy ffrroomm rreellaatteedd ppaarrttiieess In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connection with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years, and the interest rate is 12-month Euribor plus a margin of 0,99%. 3311..1122..22002255 3311..1122..22002244 Receivables 45 707,00 60 818,00 13 DDiissttrriibbuuttaabbllee eeqquuiittyy Invested unrestricted equity fund 84 778 931,04 84 778 931,04 Retained earnings of previous periods -44 128 062,56 -34 076 185,36 Profit / loss for the period 222 694,98 -10 135 077,28 Capitalised R&D expenses -24 778,38 -27 026,04 4400 884488 778855,,0088 4400 554400 664422,,3366 AAccccrruueedd aapppprroopprriiaattiioonnss Depreciation difference, buildings 377 279,66 397 653,43 Depreciation difference, machinery and equipment 60 072,65 58 034,55 443377 335522,,3311 445555 668877,,9988 IInnccoommee ttaaxx Foreign withholding taxes 75 248,88 8 296,25 7755 224488,,8888 88 229966,,2255 DDeeffeerrrreedd ttaaxx aasssseettss aanndd lliiaabbiilliittiieess nnoott pprreesseenntteedd iinn bbaallaannccee sshheeeett Deferred tax asset from recognized losses 2 769 365,51 3 129 954,42 Deferred tax liabilities from depreciation differences 87 470,46 91 137,60 AAmmoouunntt ooff sshhaarreess iinn tthhee ccoommppaannyy bbyy tthheeiirr ccllaassss ooff sshhaarree aanndd mmaaiinn pprroovviissiioonnss ccoonncceerrnniinngg eeaacchh ccllaassss ooff sshhaarree.. 3311..1122..22002255 3311..1122..22002244 All shares are of the same class 21 179 900 shares 21 179 900 shares RReellaatteedd ppaarrttyy llooaannss ttoo ggrroouupp ssuubbssiiddiiaarriieess The parent company has granted loans to its subsidiaries to finance their business operations. The loans carry different interest rates and maturities. At the reporting date, the aggregate principal amount of subsidiary loans was EUR 13,4 million (EUR 14,1 million in the previous financial year). The interest rates on the loans range between 3 ,00 % and 5 ,25 %. The loans are unsecured, and in the company’s assessment their terms are on arm’s-length basis. LLooaann rreecceeiivvaabblleess oorriiggiinnaallllyy ffrroomm rreellaatteedd ppaarrttiieess In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connection with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years, and the interest rate is 12-month Euribor plus a margin of 0,99%. 3311..1122..22002255 3311..1122..22002244 Receivables 45 707,00 60 818,00 13 DDiissttrriibbuuttaabbllee eeqquuiittyy Invested unrestricted equity fund 84 778 931,04 84 778 931,04 Retained earnings of previous periods -44 128 062,56 -34 076 185,36 Profit / loss for the period 222 694,98 -10 135 077,28 Capitalised R&D expenses -24 778,38 -27 026,04 4400 884488 778855,,0088 4400 554400 664422,,3366 AAccccrruueedd aapppprroopprriiaattiioonnss Depreciation difference, buildings 377 279,66 397 653,43 Depreciation difference, machinery and equipment 60 072,65 58 034,55 443377 335522,,3311 445555 668877,,9988 IInnccoommee ttaaxx Foreign withholding taxes 75 248,88 8 296,25 7755 224488,,8888 88 229966,,2255 DDeeffeerrrreedd ttaaxx aasssseettss aanndd lliiaabbiilliittiieess nnoott pprreesseenntteedd iinn bbaallaannccee sshheeeett Deferred tax asset from recognized losses 2 769 365,51 3 129 954,42 Deferred tax liabilities from depreciation differences 87 470,46 91 137,60 AAmmoouunntt ooff sshhaarreess iinn tthhee ccoommppaannyy bbyy tthheeiirr ccllaassss ooff sshhaarree aanndd mmaaiinn pprroovviissiioonnss ccoonncceerrnniinngg eeaacchh ccllaassss ooff sshhaarree.. 3311..1122..22002255 3311..1122..22002244 All shares are of the same class 21 179 900 shares 21 179 900 shares RReellaatteedd ppaarrttyy llooaannss ttoo ggrroouupp ssuubbssiiddiiaarriieess The parent company has granted loans to its subsidiaries to finance their business operations. The loans carry different interest rates and maturities. At the reporting date, the aggregate principal amount of subsidiary loans was EUR 13,4 million (EUR 14,1 million in the previous financial year). The interest rates on the loans range between 3 ,00 % and 5 ,25 %. The loans are unsecured, and in the company’s assessment their terms are on arm’s-length basis. LLooaann rreecceeiivvaabblleess oorriiggiinnaallllyy ffrroomm rreellaatteedd ppaarrttiieess In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connection with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years, and the interest rate is 12-month Euribor plus a margin of 0,99%. 3311..1122..22002255 3311..1122..22002244 Receivables 45 707,00 60 818,00 13 DDiissttrriibbuuttaabbllee eeqquuiittyy Invested unrestricted equity fund 84 778 931,04 84 778 931,04 Retained earnings of previous periods -44 128 062,56 -34 076 185,36 Profit / loss for the period 222 694,98 -10 135 077,28 Capitalised R&D expenses -24 778,38 -27 026,04 4400 884488 778855,,0088 4400 554400 664422,,3366 AAccccrruueedd aapppprroopprriiaattiioonnss Depreciation difference, buildings 377 279,66 397 653,43 Depreciation difference, machinery and equipment 60 072,65 58 034,55 443377 335522,,3311 445555 668877,,9988 IInnccoommee ttaaxx Foreign withholding taxes 75 248,88 8 296,25 7755 224488,,8888 88 229966,,2255 DDeeffeerrrreedd ttaaxx aasssseettss aanndd lliiaabbiilliittiieess nnoott pprreesseenntteedd iinn bbaallaannccee sshheeeett Deferred tax asset from recognized losses 2 769 365,51 3 129 954,42 Deferred tax liabilities from depreciation differences 87 470,46 91 137,60 AAmmoouunntt ooff sshhaarreess iinn tthhee ccoommppaannyy bbyy tthheeiirr ccllaassss ooff sshhaarree aanndd mmaaiinn pprroovviissiioonnss ccoonncceerrnniinngg eeaacchh ccllaassss ooff sshhaarree.. 3311..1122..22002255 3311..1122..22002244 All shares are of the same class 21 179 900 shares 21 179 900 shares RReellaatteedd ppaarrttyy llooaannss ttoo ggrroouupp ssuubbssiiddiiaarriieess The parent company has granted loans to its subsidiaries to finance their business operations. The loans carry different interest rates and maturities. At the reporting date, the aggregate principal amount of subsidiary loans was EUR 13,4 million (EUR 14,1 million in the previous financial year). The interest rates on the loans range between 3 ,00 % and 5 ,25 %. The loans are unsecured, and in the company’s assessment their terms are on arm’s-length basis. LLooaann rreecceeiivvaabblleess oorriiggiinnaallllyy ffrroomm rreellaatteedd ppaarrttiieess In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connection with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years, and the interest rate is 12-month Euribor plus a margin of 0,99%. 3311..1122..22002255 3311..1122..22002244 Receivables 45 707,00 60 818,00 13 DDiissttrriibbuuttaabbllee eeqquuiittyy Invested unrestricted equity fund 84 778 931,04 84 778 931,04 Retained earnings of previous periods -44 128 062,56 -34 076 185,36 Profit / loss for the period 222 694,98 -10 135 077,28 Capitalised R&D expenses -24 778,38 -27 026,04 4400 884488 778855,,0088 4400 554400 664422,,3366 AAccccrruueedd aapppprroopprriiaattiioonnss Depreciation difference, buildings 377 279,66 397 653,43 Depreciation difference, machinery and equipment 60 072,65 58 034,55 443377 335522,,3311 445555 668877,,9988 IInnccoommee ttaaxx Foreign withholding taxes 75 248,88 8 296,25 7755 224488,,8888 88 229966,,2255 DDeeffeerrrreedd ttaaxx aasssseettss aanndd lliiaabbiilliittiieess nnoott pprreesseenntteedd iinn bbaallaannccee sshheeeett Deferred tax asset from recognized losses 2 769 365,51 3 129 954,42 Deferred tax liabilities from depreciation differences 87 470,46 91 137,60 AAmmoouunntt ooff sshhaarreess iinn tthhee ccoommppaannyy bbyy tthheeiirr ccllaassss ooff sshhaarree aanndd mmaaiinn pprroovviissiioonnss ccoonncceerrnniinngg eeaacchh ccllaassss ooff sshhaarree.. 3311..1122..22002255 3311..1122..22002244 All shares are of the same class 21 179 900 shares 21 179 900 shares RReellaatteedd ppaarrttyy llooaannss ttoo ggrroouupp ssuubbssiiddiiaarriieess The parent company has granted loans to its subsidiaries to finance their business operations. The loans carry different interest rates and maturities. At the reporting date, the aggregate principal amount of subsidiary loans was EUR 13,4 million (EUR 14,1 million in the previous financial year). The interest rates on the loans range between 3 ,00 % and 5 ,25 %. The loans are unsecured, and in the company’s assessment their terms are on arm’s-length basis. LLooaann rreecceeiivvaabblleess oorriiggiinnaallllyy ffrroomm rreellaatteedd ppaarrttiieess In previous years Robit has issued shares to its key employees and has promissory notes to enable them to pay the share subscriptions. The interest rate used is the reference rate set by the Finnish Ministry of Finance every six months. Interest is paid two times a year. No margin has been added to the reference rate. The amount of interest subsidy is recognized as other operating expenses. In connection with the 2020 long term incentive plan and share issuance to key personnel, the company granted loans for the payment of share subscription. The payment period for these loans is 8 years, and the interest rate is 12-month Euribor plus a margin of 0,99%. 3311..1122..22002255 3311..1122..22002244 Receivables 45 707,00 60 818,00 14 Loans maturing in more than 5 years Loans from financing institutions 0,00 0,00 Pledges and mortgages and mortgages pledged as a security for debt as well as bills of exchange, guarantee and other liabilities and contingent liabilities 3311..1122..22002255 3311..1122..22002244 OOff oowwnn ddeebbttss aanndd lliiaabbiilliittiieess Business mortgages pledged as a security 40 861 604,01 41 011 604,01 Real estate mortgages pledged as a security 3 856 000,00 2 856 000,00 44 717 604,01 43 867 604,01 AAmmoouunntt ooff llooaann Loans from financial institutions 18 000 000,00 19 500 000,00 TThhee ccoovveennaannttss rreellaattiinngg ttoo llooaannss The Company has financial institution loans of EUR 18,0 million related with following covenants: 1) The group's net liabilities may not exceed 3,5 times the EBITDA. 2) Equity ratio of at least 30,0 % Robit Plc amortized its loans by EUR 1,5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1,50 %. LLeeaassee lliiaabbiilliittiieess 3311..1122..22002255 3311..1122..22002244 Items to be paid pursuant to the lease agreements During the following financial period 48 780,89 73 604,43 In later periods 54 106,39 89 576,10 Total 102 887,28 163 180,53 Lease liabilities related to company cars and computers, and a new PVC storage shed. These terms of contract are in line with general practices in this field. 3311..1122..22002255 3311..1122..22002244 OOtthheerr lliiaabbiilliittiieess Guarantee liabilities 46 000,00 46 000,00 Parent company has granted a counter guarantee on behalf of its subsidiary. 14 Loans maturing in more than 5 years Loans from financing institutions 0,00 0,00 Pledges and mortgages and mortgages pledged as a security for debt as well as bills of exchange, guarantee and other liabilities and contingent liabilities 3311..1122..22002255 3311..1122..22002244 OOff oowwnn ddeebbttss aanndd lliiaabbiilliittiieess Business mortgages pledged as a security 40 861 604,01 41 011 604,01 Real estate mortgages pledged as a security 3 856 000,00 2 856 000,00 44 717 604,01 43 867 604,01 AAmmoouunntt ooff llooaann Loans from financial institutions 18 000 000,00 19 500 000,00 TThhee ccoovveennaannttss rreellaattiinngg ttoo llooaannss The Company has financial institution loans of EUR 18,0 million related with following covenants: 1) The group's net liabilities may not exceed 3,5 times the EBITDA. 2) Equity ratio of at least 30,0 % Robit Plc amortized its loans by EUR 1,5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1,50 %. LLeeaassee lliiaabbiilliittiieess 3311..1122..22002255 3311..1122..22002244 Items to be paid pursuant to the lease agreements During the following financial period 48 780,89 73 604,43 In later periods 54 106,39 89 576,10 Total 102 887,28 163 180,53 Lease liabilities related to company cars and computers, and a new PVC storage shed. These terms of contract are in line with general practices in this field. 3311..1122..22002255 3311..1122..22002244 OOtthheerr lliiaabbiilliittiieess Guarantee liabilities 46 000,00 46 000,00 Parent company has granted a counter guarantee on behalf of its subsidiary.
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111 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 The covenants relating to loans The Company has financial institution loans of EUR 18,0 million related with following covenants: 1) The group's net liabilities may not exceed 3,5 times the EBITDA. 2) Equity ratio of at least 30,0 % Robit Plc amortized its loans by EUR 1,5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1,50 %. Lease liabilities Lease liabilities related to company cars and computers, and a new PVC storage shed. These terms of contract are in line with general practices in this field. Derivatives Fair values of derivative financial instruments 2025 The fair values of interest rate swaps and interest rate derivatives are determined as the present value of the future cash flows based on market interest rates on the reporting date. The hedging ratio of the interest rate swap was 55,6 % as at 31 December 2025. Robit Plc applies hedge accounting to the interest rate swap and treats it as an off-balance sheet item in accordance with The Finnish Accounting Board's statement 1963/2016. The fair value of the derivative and other information is presented in note 4.4 of the consoli - dated financial statements. Fair values of derivative financial instruments 2024 14 Loans maturing in more than 5 years Loans from financing institutions 0,00 0,00 Pledges and mortgages and mortgages pledged as a security for debt as well as bills of exchange, guarantee and other liabilities and contingent liabilities 3311..1122..22002255 3311..1122..22002244 OOff oowwnn ddeebbttss aanndd lliiaabbiilliittiieess Business mortgages pledged as a security 40 861 604,01 41 011 604,01 Real estate mortgages pledged as a security 3 856 000,00 2 856 000,00 44 717 604,01 43 867 604,01 AAmmoouunntt ooff llooaann Loans from financial institutions 18 000 000,00 19 500 000,00 TThhee ccoovveennaannttss rreellaattiinngg ttoo llooaannss The Company has financial institution loans of EUR 18,0 million related with following covenants: 1) The group's net liabilities may not exceed 3,5 times the EBITDA. 2) Equity ratio of at least 30,0 % Robit Plc amortized its loans by EUR 1,5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1,50 %. LLeeaassee lliiaabbiilliittiieess 3311..1122..22002255 3311..1122..22002244 Items to be paid pursuant to the lease agreements During the following financial period 48 780,89 73 604,43 In later periods 54 106,39 89 576,10 Total 102 887,28 163 180,53 Lease liabilities related to company cars and computers, and a new PVC storage shed. These terms of contract are in line with general practices in this field. 3311..1122..22002255 3311..1122..22002244 OOtthheerr lliiaabbiilliittiieess Guarantee liabilities 46 000,00 46 000,00 Parent company has granted a counter guarantee on behalf of its subsidiary. 14 Loans maturing in more than 5 years Loans from financing institutions 0,00 0,00 Pledges and mortgages and mortgages pledged as a security for debt as well as bills of exchange, guarantee and other liabilities and contingent liabilities 3311..1122..22002255 3311..1122..22002244 OOff oowwnn ddeebbttss aanndd lliiaabbiilliittiieess Business mortgages pledged as a security 40 861 604,01 41 011 604,01 Real estate mortgages pledged as a security 3 856 000,00 2 856 000,00 44 717 604,01 43 867 604,01 AAmmoouunntt ooff llooaann Loans from financial institutions 18 000 000,00 19 500 000,00 TThhee ccoovveennaannttss rreellaattiinngg ttoo llooaannss The Company has financial institution loans of EUR 18,0 million related with following covenants: 1) The group's net liabilities may not exceed 3,5 times the EBITDA. 2) Equity ratio of at least 30,0 % Robit Plc amortized its loans by EUR 1,5 million at the end of December 2025. The interest margin of the loans as of 31 December 2025 is 1,50 %. LLeeaassee lliiaabbiilliittiieess 3311..1122..22002255 3311..1122..22002244 Items to be paid pursuant to the lease agreements During the following financial period 48 780,89 73 604,43 In later periods 54 106,39 89 576,10 Total 102 887,28 163 180,53 Lease liabilities related to company cars and computers, and a new PVC storage shed. These terms of contract are in line with general practices in this field. 3311..1122..22002255 3311..1122..22002244 OOtthheerr lliiaabbiilliittiieess Guarantee liabilities 46 000,00 46 000,00 Parent company has granted a counter guarantee on behalf of its subsidiary. 15 DDeerriivvaattiivveess Fair values of derivative financial instruments 2025 Derivatives designated as cash flow hedges Notional amount Fair value assets Fair value liabilities Interest rate swaps Interest rate swap, EUR thousand 10 000 71 0 Fair values of derivative financial instruments 2024 Derivatives designated as cash flow hedges Notional amount Fair value assets Fair value liabilities Interest rate swaps Interest rate swap, EUR thousand 10 000 278 0 The fair values of interest rate swaps and interest rate derivatives are determined as the present value of the future cash flows based on market interest rates on the reporting date. The hedging ratio of the interest rate swap was 55,6 % as at 31 December 2025. Robit Plc applies hedge accounting to the interest rate swap and treats it as an off-balance sheet item in accordance with The Finnish Accounting Board's statement 1963/2016. The fair value of the derivative and other information is presented in note 4.4 of the consolidated financial statements. IInnvveessttmmeennttss iinn rreeaall eessttaattee The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2017 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2026. The maximum amount of the liability amounts to EUR 18 088,92. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2018 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2027. The maximum amount of the liability amounts to EUR 6 648,45. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2021 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2030. The maximum amount of the liability amounts to EUR 102 653,94. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2022 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2031. The maximum amount of the liability amounts to EUR 7 986,01. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2024 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2033. The maximum amount of the liability amounts to EUR 3 067,48. RReellaatteedd ppaarrttyy ttrraannssaaccttiioonnss Company did not have any transactions that were out of normal business activities during 2025 with related parties. More details of related party transactions in the Consolidated financial statements of the Group. Notes concerning the Cash flow statement The Cash flow statement has been prepared in accordance with The Accounting Board's general instructions (January 30, 2007). The operating cash flow is presented according to the indirect method. The board's presentation on the use of unrestricted equity The board of directors proposes to the annual general meeting that no dividend be distributed for the financial year 2025. 15 DDeerriivvaattiivveess Fair values of derivative financial instruments 2025 Derivatives designated as cash flow hedges Notional amount Fair value assets Fair value liabilities Interest rate swaps Interest rate swap, EUR thousand 10 000 71 0 Fair values of derivative financial instruments 2024 Derivatives designated as cash flow hedges Notional amount Fair value assets Fair value liabilities Interest rate swaps Interest rate swap, EUR thousand 10 000 278 0 The fair values of interest rate swaps and interest rate derivatives are determined as the present value of the future cash flows based on market interest rates on the reporting date. The hedging ratio of the interest rate swap was 55,6 % as at 31 December 2025. Robit Plc applies hedge accounting to the interest rate swap and treats it as an off-balance sheet item in accordance with The Finnish Accounting Board's statement 1963/2016. The fair value of the derivative and other information is presented in note 4.4 of the consolidated financial statements. IInnvveessttmmeennttss iinn rreeaall eessttaattee The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2017 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2026. The maximum amount of the liability amounts to EUR 18 088,92. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2018 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2027. The maximum amount of the liability amounts to EUR 6 648,45. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2021 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2030. The maximum amount of the liability amounts to EUR 102 653,94. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2022 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2031. The maximum amount of the liability amounts to EUR 7 986,01. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2024 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2033. The maximum amount of the liability amounts to EUR 3 067,48. RReellaatteedd ppaarrttyy ttrraannssaaccttiioonnss Company did not have any transactions that were out of normal business activities during 2025 with related parties. More details of related party transactions in the Consolidated financial statements of the Group. Notes concerning the Cash flow statement The Cash flow statement has been prepared in accordance with The Accounting Board's general instructions (January 30, 2007). The operating cash flow is presented according to the indirect method. The board's presentation on the use of unrestricted equity The board of directors proposes to the annual general meeting that no dividend be distributed for the financial year 2025.
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112 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Investments in real estate The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2017 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2026. The maximum amount of the liability amounts to EUR 18 088,92. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2018 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2027. The maximum amount of the liability amounts to EUR 6 648,45. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2021 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2030. The maximum amount of the liability amounts to EUR 102 653,94. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2022 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2031. The maximum amount of the liability amounts to EUR 7 986,01. The company is obligated to revise the deductions of value added tax it has made for the real estate investment completed in 2024 in case the taxable use of the real estate diminishes during the revision period. The last revision year will be 2033. The maximum amount of the liability amounts to EUR 3 067,48. Related party transactions Company did not have any transactions that were out of normal business activities during 2025 with related parties. More details of related party transactions in the Consolidated financial statements of the Group. Notes concerning the Cash flow statement The Cash flow statement has been prepared in accordance with The Accounting Board's general instructions (January 30, 2007). The operating cash flow is presented according to the indirect method. The board's presentation on the use of unrestricted equity The board of directors proposes to the annual general meeting that no dividend be distributed for the financial year 2025. Robit Plc Business ID: 0825627-0 We present the following statements as required by the Accounting Act • the financial statements, prepared in accordance with the applicable financial reporting regulations, give a true and fair view of the assets, liabilities, financial position, and profit or loss of both the company and the group of companies included in the consolidated financial statements; • the report of the Board of Directors provides a true and fair description of, on one hand, the development and performance of the company’s operations and, on the other hand, those of the group of companies included in the consolidated financial statements, as well as a description of the principal risks and uncertainties and other information concerning the company’s situation
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113 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Signatures to the Financial Statements and the Report of the Board of Directors Lempäälä, February 17th, 2026 The Financial Statements and the Report of the Board of Directors have been electronically signed. The auditor’s note Our auditor´s report has been issued today. Lempäälä, February 17th, 2026 Harri Sjöholm Chairman of the Board Kai Telanne Board member Eeva-Liisa Virkkunen Board member Ernst & Young Oy Authorized Public Accountants Mikko Järventausta Authorized Public Accountant Mikko Kuitunen Board member Helena Kauppinen Board member Mikko Kuusilehto CEO
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114 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 List of Accounting Books and Record Formats and Storage Methods Robit Plc Business ID: 0825627-0 List of accounting books and record formats and storage methods Storage of accounting documentation Accounting books are kept for 10 years and supporting documents for 6 years at the company's premises in Lempäälä. Accounting Books Method of storage Journal Electronically (Netsuite) General Ledger Electronically (Netsuite) VAT calculations Electronically (Netsuite) Accounts Receivable Electronically (Netsuite) Accounts Payable Electronically (Netsuite) Payroll accounting Computerised partial bookkeeping, lists of transactions wage slips and pay sheets on CD Balance sheet book Separately bound Itemisations of balance sheet Separately bound Voucher Method of storage Accounting voucher Electronically (Netsuite) Projects Electronically (Netsuite) Sampo USD Electronically (Netsuite) Nordea Electronically (Netsuite) Cash vouchers Electronically (Netsuite) Nordea USD -193 Electronically (Netsuite) Nordea -211 Electronically (Netsuite) Nordea -823 Electronically (Netsuite) Sampo Electronically (Netsuite) Sampo CAD Electronically (Netsuite) Handelsbanken Electronically (Netsuite) Osuuspankki Electronically (Netsuite) VAT vouchers Electronically (Netsuite) Sales invoices Electronically (Netsuite) Account sales, non-ledger Electronically (Netsuite) Account sales, payments Electronically (Netsuite) Purchasing invoices, WF Electronically (Netsuite) Salaries Wage slips and pay sheets on CD Financial statement receipts Electronically (Netsuite) Note vouchers As a separate file
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115 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 A member firm of Ernst & Young Global Limited 1 (5) Ernst & Young Oy Korkeavuorenkatu 32-34 00130 Helsinki Finland Puhelin: 020 728 0190 www.ey.com/fi Y-tunnus 2204039-6, kotipaikka Helsinki TILINTARKASTUSKERTOMUS Robit Oyj:n yhtiökokoukselle Tilinpäätöksen tilintarkastus Lausunto Olemme tilintarkastaneet Robit Oyj:n (y-tunnus 0825627-0) tilinpäätöksen tilikaudelta 1.1.–31.12.2025. Tilinpäätös sisältää konsernin taseen, laajan tuloslaskelman, laskelman oman pääoman muutoksista, rahavirtalaskelman ja liitetiedot, mukaan lukien olennainen tilinpäätöksen laatimisperiaatteita koskeva informaatio, sekä emoyhtiön taseen, tuloslaskelman, rahoituslaskelman ja liitetiedot. Lausuntonamme esitämme, että • konsernitilinpäätös antaa oikean ja riittävän kuvan konsernin taloudellisesta asemasta sekä sen toiminnan tuloksesta ja rahavirroista EU:ssa käyttöön hyväksyttyjen kansainvälisten IFRS- tilinpäätösstandardien mukaisesti, • tilinpäätös antaa oikean ja riittävän kuvan emoyhtiön toiminnan tuloksesta ja taloudellisesta asemasta Suomessa voimassa olevien tilinpäätöksen laatimista koskevien säännösten mukaisesti ja täyttää lakisääteiset vaatimukset. Lausuntomme on ristiriidaton tarkastusvaliokunnalle annetun lisäraportin kanssa. Lausunnon perustelut Olemme suorittaneet tilintarkastuksen Suomessa noudatettavan hyvän tilintarkastustavan mukaisesti. Hyvän tilintarkastustavan mukaisia velvollisuuksiamme kuvataan tarkemmin kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa. Olemme riippumattomia emoyhtiöstä ja konserniyrityksistä niiden Suomessa noudatettavien eettisten vaatimusten mukaisesti, jotka koskevat suorittamaamme tilintarkastusta ja olemme täyttäneet muut näiden vaatimusten mukaiset eettiset velvollisuutemme. Emoyhtiölle ja konserniyrityksille suorittamamme muut kuin tilintarkastuspalvelut ovat parhaan tietomme ja käsityksemme mukaan olleet Suomessa noudatettavien, näitä palveluja koskevien säännösten mukaisia, emmekä ole suorittaneet EU-asetuksen 537/2014 5. artiklan 1 kohdassa tarkoitettuja kiellettyjä palveluja. Suorittamamme muut kuin tilintarkastuspalvelut on esitetty konsernitilinpäätöksen liitetiedossa 2.4. Käsityksemme mukaan olemme hankkineet lausuntomme perustaksi tarpeellisen määrän tarkoitukseen soveltuvaa tilintarkastusevidenssiä. Tilintarkastuksen kannalta keskeiset seikat Tilintarkastuksen kannalta keskeiset seikat ovat seikkoja, jotka ammatillisen harkintamme mukaan ovat olleet merkittävimpiä tarkastuksen kohteena olevan tilikauden tilintarkastuksessa. Nämä seikat on otettu huomioon tilinpäätökseen kokonaisuutena kohdistuneessa tilintarkastuksessamme sekä laatiessamme siitä annettavaa lausuntoa, emmekä anna näistä seikoista erillistä lausuntoa. Olemme täyttäneet kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa kuvatut velvollisuutemme tilinpäätöksen tilintarkastuksessa mukaan lukien näihin seikkoihin liittyvät velvoitteemme. Tämän mukaisesti suoritimme suunnittelemamme tilintarkastustoimenpiteet, jotka kohdistuivat arviomme mukaisesti riskeihin, jotka voivat johtaa tilinpäätöksen olennaiseen virheellisyyteen. Suorittamamme tilintarkastustoimenpiteet, jotka kohdistuivat myös alla mainittuihin seikkoihin, ovat olleet perustana oheista tilinpäätöstä koskevalle lausunnollemme. 1 (5) AUDITOR’S REPORT (Translation of the Finnish original) To the Annual General Meeting of Robit Plc Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Robit Plc (business identity code 0825627-0) for the year ended 31 December 2025. The financial statements comprise the consolidated balance sheet, statement of comprehensive income, statement of changes in equity, statement of cash flows and notes, including material accounting policy information, as well as the parent company’s balance sheet, income statement, statement of cash flows and notes. In our opinion • the consolidated financial statements give a true and fair view of the group’s financial position, financial performance and cash flows in accordance with IFRS Accounting Standards as adopted by the EU. • the financial statements give a true and fair view of the parent company’s financial performance and financial position in accordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requirements. Our opinion is consistent with the additional report submitted to the Audit Committee. Basis for Opinion We conducted our audit in accordance with good auditing practice in Finland. Our responsibilities under good auditing practice are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the parent company and of the group companies in accordance with the ethical requirements that are applicable in Finland and are relevant to our audit, and we have fulfilled our other ethical responsibilities in accordance with these requirements. In our best knowledge and understanding, the non-audit services that we have provided to the parent company and group companies are in compliance with laws and regulations applicable in Finland regarding these services, and we have not provided any prohibited non-audit services referred to in Article 5(1) of regulation (EU) 537/2014. The non-audit services that we have provided have been disclosed in note 2.4 to the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key Audit Matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have fulfilled the responsibilities described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the
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116 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 2 (5) financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying financial statements. We have also addressed the risk of management override of internal controls. This includes consideration of whether there was evidence of management bias that represented a risk of material misstatement due to fraud. Key Audit Matter How our audit addressed the Key Audit Matter Revenue recognition We refer to the Group’s accounting principles and the note 2.1. Robit Group’s revenues in 2025 amounted to 78,8 million euros consisting mainly of drilling machinery consumables such as drill bits and casing systems. Revenue from sale of goods is recognized at a point in time, when control of the goods is transferred to customer, typically at the time of delivery of the goods. The Group focuses on revenue as a key performance measure which could create an incentive for revenue to be recognized too early. Revenue recognition was a key audit matter and a significant risk of material misstatement referred to in EU Regulation No 537/2014, point (c) of Article 10(2) because of the risk of correct timing of revenue recognition (cut off). Our audit procedures to address the risk of material misstatement relating to revenue recognition included, among others: • we assessed the reasonableness of the Group’s accounting policies over revenue recognition and compliance with applicable accounting standards; • we assessed the process and methods for revenue recognition; • we tested the recorded sales transactions during the year against underlying documents on a sample basis; • we tested the sales cut off on either side of the balance sheet date on a sample basis; • we obtained confirmations of receivable balances from customers; • we performed analytical procedures on revenues; and • we considered the appropriateness of the Group’s disclosures in respect of revenues. Goodwill valuation We refer to the Group’s accounting principles and the note 3.1. At the financial statement date, the value of Robit Group’s goodwill amounted to 5,3 million euros representing 6 % of total assets and 12 % of total equity. The Group management uses assumptions in respect of determining weighted average cost of capital and future market and economic conditions such as general economic growth, revenue and margin developments. Goodwill valuation was a key audit matter and a significant risk of material misstatement referred to in EU Regulation No 537/2014, point (c) of Article 10(2) because the impairment testing involves estimates and related significant judgment from management. Our audit procedures to address the risk of material misstatement relating to goodwill valuation included, among others: • we involved our valuation specialists to assist us in evaluating the assumptions and methodologies used by the Group in the testing, in particular those related to the determination of weighted average cost of capital; • we focused on the sensitivity in the available headroom by cash generating unit and whether any reasonably possible change in assumptions could cause the carrying amount to exceed its recoverable amount. We assessed the allocation of the assets, revenues and expenses to each of the cash generating units; • we assessed retrospectively the outcome of the management’s historical estimates; and • we considered the appropriateness of the Group’s disclosures in respect of impairment testing. A member firm of Ernst & Young Global Limited 1 (5) Ernst & Young Oy Korkeavuorenkatu 32-34 00130 Helsinki Finland Puhelin: 020 728 0190 www.ey.com/fi Y-tunnus 2204039-6, kotipaikka Helsinki TILINTARKASTUSKERTOMUS Robit Oyj:n yhtiökokoukselle Tilinpäätöksen tilintarkastus Lausunto Olemme tilintarkastaneet Robit Oyj:n (y-tunnus 0825627-0) tilinpäätöksen tilikaudelta 1.1.–31.12.2025. Tilinpäätös sisältää konsernin taseen, laajan tuloslaskelman, laskelman oman pääoman muutoksista, rahavirtalaskelman ja liitetiedot, mukaan lukien olennainen tilinpäätöksen laatimisperiaatteita koskeva informaatio, sekä emoyhtiön taseen, tuloslaskelman, rahoituslaskelman ja liitetiedot. Lausuntonamme esitämme, että • konsernitilinpäätös antaa oikean ja riittävän kuvan konsernin taloudellisesta asemasta sekä sen toiminnan tuloksesta ja rahavirroista EU:ssa käyttöön hyväksyttyjen kansainvälisten IFRS- tilinpäätösstandardien mukaisesti, • tilinpäätös antaa oikean ja riittävän kuvan emoyhtiön toiminnan tuloksesta ja taloudellisesta asemasta Suomessa voimassa olevien tilinpäätöksen laatimista koskevien säännösten mukaisesti ja täyttää lakisääteiset vaatimukset. Lausuntomme on ristiriidaton tarkastusvaliokunnalle annetun lisäraportin kanssa. Lausunnon perustelut Olemme suorittaneet tilintarkastuksen Suomessa noudatettavan hyvän tilintarkastustavan mukaisesti. Hyvän tilintarkastustavan mukaisia velvollisuuksiamme kuvataan tarkemmin kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa. Olemme riippumattomia emoyhtiöstä ja konserniyrityksistä niiden Suomessa noudatettavien eettisten vaatimusten mukaisesti, jotka koskevat suorittamaamme tilintarkastusta ja olemme täyttäneet muut näiden vaatimusten mukaiset eettiset velvollisuutemme. Emoyhtiölle ja konserniyrityksille suorittamamme muut kuin tilintarkastuspalvelut ovat parhaan tietomme ja käsityksemme mukaan olleet Suomessa noudatettavien, näitä palveluja koskevien säännösten mukaisia, emmekä ole suorittaneet EU-asetuksen 537/2014 5. artiklan 1 kohdassa tarkoitettuja kiellettyjä palveluja. Suorittamamme muut kuin tilintarkastuspalvelut on esitetty konsernitilinpäätöksen liitetiedossa 2.4. Käsityksemme mukaan olemme hankkineet lausuntomme perustaksi tarpeellisen määrän tarkoitukseen soveltuvaa tilintarkastusevidenssiä. Tilintarkastuksen kannalta keskeiset seikat Tilintarkastuksen kannalta keskeiset seikat ovat seikkoja, jotka ammatillisen harkintamme mukaan ovat olleet merkittävimpiä tarkastuksen kohteena olevan tilikauden tilintarkastuksessa. Nämä seikat on otettu huomioon tilinpäätökseen kokonaisuutena kohdistuneessa tilintarkastuksessamme sekä laatiessamme siitä annettavaa lausuntoa, emmekä anna näistä seikoista erillistä lausuntoa. Olemme täyttäneet kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa kuvatut velvollisuutemme tilinpäätöksen tilintarkastuksessa mukaan lukien näihin seikkoihin liittyvät velvoitteemme. Tämän mukaisesti suoritimme suunnittelemamme tilintarkastustoimenpiteet, jotka kohdistuivat arviomme mukaisesti riskeihin, jotka voivat johtaa tilinpäätöksen olennaiseen virheellisyyteen. Suorittamamme tilintarkastustoimenpiteet, jotka kohdistuivat myös alla mainittuihin seikkoihin, ovat olleet perustana oheista tilinpäätöstä koskevalle lausunnollemme.
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117 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 3 (5) Key Audit Matter How our audit addressed the Key Audit Matter Valuation of trade receivables We refer to the Group’s accounting principles and the notes 4.4, 4.6 and 5.3. Valuation of trade receivables was a key audit matter because of the significance of overdue trade receivables to the balance sheet as a whole. As of balance sheet date December 31, 2025, the carrying value of trade receivables amounted to 13,0 million euros of which 3,2 were overdue. Carrying value of trade receivables is a result of gross receivables netted by a provision for credit losses. Valuation of trade receivables requires management to estimate the amount of expected credit losses for the accrued provision for credit losses. We performed, among others, the following audit procedures: • we evaluated the valuation methods applied on valuation of trade receivables as well as performed analyses of overdue and undue gross receivable balance development and corresponding movement in credit loss provision during the year; • we sent receivable balance confirmation requests to the Group’s customers and compared trade receivable balances to subsequent cash receipts; • we analyzed management’s estimates of expected credit losses of the most significant aged and overdue receivables considering historical payment patterns as well as recent communications with the counterparties and dunning procedures; and • we considered the appropriateness of the Group’s disclosures in respect of trade receivables. Responsibilities of the Board of Directors and the Managing Director for the Financial Statements The Board of Directors and the Managing Director are responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU, and of financial statements that give a true and fair view in accordance with the laws and regulations governing the preparation of financial statements in Finland and comply with statutory requirements. The Board of Directors and the Managing Director are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Board of Directors and the Managing Director are responsible for assessing the parent company’s and the group’s ability to continue as going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting. The financial statements are prepared using the going concern basis of accounting unless there is an intention to liquidate the parent company or the group or cease operations, or there is no realistic alternative but to do so. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with good auditing practice will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. As part of an audit in accordance with good auditing practice, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit A member firm of Ernst & Young Global Limited 1 (5) Ernst & Young Oy Korkeavuorenkatu 32-34 00130 Helsinki Finland Puhelin: 020 728 0190 www.ey.com/fi Y-tunnus 2204039-6, kotipaikka Helsinki TILINTARKASTUSKERTOMUS Robit Oyj:n yhtiökokoukselle Tilinpäätöksen tilintarkastus Lausunto Olemme tilintarkastaneet Robit Oyj:n (y-tunnus 0825627-0) tilinpäätöksen tilikaudelta 1.1.–31.12.2025. Tilinpäätös sisältää konsernin taseen, laajan tuloslaskelman, laskelman oman pääoman muutoksista, rahavirtalaskelman ja liitetiedot, mukaan lukien olennainen tilinpäätöksen laatimisperiaatteita koskeva informaatio, sekä emoyhtiön taseen, tuloslaskelman, rahoituslaskelman ja liitetiedot. Lausuntonamme esitämme, että • konsernitilinpäätös antaa oikean ja riittävän kuvan konsernin taloudellisesta asemasta sekä sen toiminnan tuloksesta ja rahavirroista EU:ssa käyttöön hyväksyttyjen kansainvälisten IFRS- tilinpäätösstandardien mukaisesti, • tilinpäätös antaa oikean ja riittävän kuvan emoyhtiön toiminnan tuloksesta ja taloudellisesta asemasta Suomessa voimassa olevien tilinpäätöksen laatimista koskevien säännösten mukaisesti ja täyttää lakisääteiset vaatimukset. Lausuntomme on ristiriidaton tarkastusvaliokunnalle annetun lisäraportin kanssa. Lausunnon perustelut Olemme suorittaneet tilintarkastuksen Suomessa noudatettavan hyvän tilintarkastustavan mukaisesti. Hyvän tilintarkastustavan mukaisia velvollisuuksiamme kuvataan tarkemmin kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa. Olemme riippumattomia emoyhtiöstä ja konserniyrityksistä niiden Suomessa noudatettavien eettisten vaatimusten mukaisesti, jotka koskevat suorittamaamme tilintarkastusta ja olemme täyttäneet muut näiden vaatimusten mukaiset eettiset velvollisuutemme. Emoyhtiölle ja konserniyrityksille suorittamamme muut kuin tilintarkastuspalvelut ovat parhaan tietomme ja käsityksemme mukaan olleet Suomessa noudatettavien, näitä palveluja koskevien säännösten mukaisia, emmekä ole suorittaneet EU-asetuksen 537/2014 5. artiklan 1 kohdassa tarkoitettuja kiellettyjä palveluja. Suorittamamme muut kuin tilintarkastuspalvelut on esitetty konsernitilinpäätöksen liitetiedossa 2.4. Käsityksemme mukaan olemme hankkineet lausuntomme perustaksi tarpeellisen määrän tarkoitukseen soveltuvaa tilintarkastusevidenssiä. Tilintarkastuksen kannalta keskeiset seikat Tilintarkastuksen kannalta keskeiset seikat ovat seikkoja, jotka ammatillisen harkintamme mukaan ovat olleet merkittävimpiä tarkastuksen kohteena olevan tilikauden tilintarkastuksessa. Nämä seikat on otettu huomioon tilinpäätökseen kokonaisuutena kohdistuneessa tilintarkastuksessamme sekä laatiessamme siitä annettavaa lausuntoa, emmekä anna näistä seikoista erillistä lausuntoa. Olemme täyttäneet kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa kuvatut velvollisuutemme tilinpäätöksen tilintarkastuksessa mukaan lukien näihin seikkoihin liittyvät velvoitteemme. Tämän mukaisesti suoritimme suunnittelemamme tilintarkastustoimenpiteet, jotka kohdistuivat arviomme mukaisesti riskeihin, jotka voivat johtaa tilinpäätöksen olennaiseen virheellisyyteen. Suorittamamme tilintarkastustoimenpiteet, jotka kohdistuivat myös alla mainittuihin seikkoihin, ovat olleet perustana oheista tilinpäätöstä koskevalle lausunnollemme.
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118 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 4 (5) evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the parent company’s or the group’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. • Conclude on the appropriateness of the Board of Directors’ and the Managing Director’s use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the parent company’s or the group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the parent company or the group to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events so that the financial statements give a true and fair view. • Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the group financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. A member firm of Ernst & Young Global Limited 1 (5) Ernst & Young Oy Korkeavuorenkatu 32-34 00130 Helsinki Finland Puhelin: 020 728 0190 www.ey.com/fi Y-tunnus 2204039-6, kotipaikka Helsinki TILINTARKASTUSKERTOMUS Robit Oyj:n yhtiökokoukselle Tilinpäätöksen tilintarkastus Lausunto Olemme tilintarkastaneet Robit Oyj:n (y-tunnus 0825627-0) tilinpäätöksen tilikaudelta 1.1.–31.12.2025. Tilinpäätös sisältää konsernin taseen, laajan tuloslaskelman, laskelman oman pääoman muutoksista, rahavirtalaskelman ja liitetiedot, mukaan lukien olennainen tilinpäätöksen laatimisperiaatteita koskeva informaatio, sekä emoyhtiön taseen, tuloslaskelman, rahoituslaskelman ja liitetiedot. Lausuntonamme esitämme, että • konsernitilinpäätös antaa oikean ja riittävän kuvan konsernin taloudellisesta asemasta sekä sen toiminnan tuloksesta ja rahavirroista EU:ssa käyttöön hyväksyttyjen kansainvälisten IFRS- tilinpäätösstandardien mukaisesti, • tilinpäätös antaa oikean ja riittävän kuvan emoyhtiön toiminnan tuloksesta ja taloudellisesta asemasta Suomessa voimassa olevien tilinpäätöksen laatimista koskevien säännösten mukaisesti ja täyttää lakisääteiset vaatimukset. Lausuntomme on ristiriidaton tarkastusvaliokunnalle annetun lisäraportin kanssa. Lausunnon perustelut Olemme suorittaneet tilintarkastuksen Suomessa noudatettavan hyvän tilintarkastustavan mukaisesti. Hyvän tilintarkastustavan mukaisia velvollisuuksiamme kuvataan tarkemmin kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa. Olemme riippumattomia emoyhtiöstä ja konserniyrityksistä niiden Suomessa noudatettavien eettisten vaatimusten mukaisesti, jotka koskevat suorittamaamme tilintarkastusta ja olemme täyttäneet muut näiden vaatimusten mukaiset eettiset velvollisuutemme. Emoyhtiölle ja konserniyrityksille suorittamamme muut kuin tilintarkastuspalvelut ovat parhaan tietomme ja käsityksemme mukaan olleet Suomessa noudatettavien, näitä palveluja koskevien säännösten mukaisia, emmekä ole suorittaneet EU-asetuksen 537/2014 5. artiklan 1 kohdassa tarkoitettuja kiellettyjä palveluja. Suorittamamme muut kuin tilintarkastuspalvelut on esitetty konsernitilinpäätöksen liitetiedossa 2.4. Käsityksemme mukaan olemme hankkineet lausuntomme perustaksi tarpeellisen määrän tarkoitukseen soveltuvaa tilintarkastusevidenssiä. Tilintarkastuksen kannalta keskeiset seikat Tilintarkastuksen kannalta keskeiset seikat ovat seikkoja, jotka ammatillisen harkintamme mukaan ovat olleet merkittävimpiä tarkastuksen kohteena olevan tilikauden tilintarkastuksessa. Nämä seikat on otettu huomioon tilinpäätökseen kokonaisuutena kohdistuneessa tilintarkastuksessamme sekä laatiessamme siitä annettavaa lausuntoa, emmekä anna näistä seikoista erillistä lausuntoa. Olemme täyttäneet kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa kuvatut velvollisuutemme tilinpäätöksen tilintarkastuksessa mukaan lukien näihin seikkoihin liittyvät velvoitteemme. Tämän mukaisesti suoritimme suunnittelemamme tilintarkastustoimenpiteet, jotka kohdistuivat arviomme mukaisesti riskeihin, jotka voivat johtaa tilinpäätöksen olennaiseen virheellisyyteen. Suorittamamme tilintarkastustoimenpiteet, jotka kohdistuivat myös alla mainittuihin seikkoihin, ovat olleet perustana oheista tilinpäätöstä koskevalle lausunnollemme.
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119 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 5 (5) Other Reporting Requirements Information on our audit engagement We were first appointed as auditors by the Annual General Meeting on 8 April 2025 for the year ended 31 December 2025, and our appointment represents a total period of uninterrupted engagement of one year. Other information The Board of Directors and the Managing Director are responsible for the other information. The other information comprises the report of the Board of Directors and the information included in the Annual Report, but does not include the financial statements and our auditor’s report thereon. We have obtained the report of the Board of Directors prior to the date of this auditor’s report, and the Annual Report is expected to be made available to us after that date. Our opinion on the financial statements does not cover the other information. In connection with our audit of the financial statements, our responsibility is to read the other information identified above and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. With respect to report of the Board of Directors, our responsibility also includes considering whether the report of the Board of Directors has been prepared in compliance with the applicable provisions. In our opinion, the information in the report of the Board of Directors is consistent with the information in the financial statements and the report of the Board of Directors has been prepared in compliance with the applicable provisions. If, based on the work we have performed on the other information that we obtained prior to the date of this auditor’s report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Lempäälä, 17th February 2026 Ernst & Young Oy Authorized Public Accountant Firm Mikko Järventausta Authorized Public Accountant A member firm of Ernst & Young Global Limited 1 (5) Ernst & Young Oy Korkeavuorenkatu 32-34 00130 Helsinki Finland Puhelin: 020 728 0190 www.ey.com/fi Y-tunnus 2204039-6, kotipaikka Helsinki TILINTARKASTUSKERTOMUS Robit Oyj:n yhtiökokoukselle Tilinpäätöksen tilintarkastus Lausunto Olemme tilintarkastaneet Robit Oyj:n (y-tunnus 0825627-0) tilinpäätöksen tilikaudelta 1.1.–31.12.2025. Tilinpäätös sisältää konsernin taseen, laajan tuloslaskelman, laskelman oman pääoman muutoksista, rahavirtalaskelman ja liitetiedot, mukaan lukien olennainen tilinpäätöksen laatimisperiaatteita koskeva informaatio, sekä emoyhtiön taseen, tuloslaskelman, rahoituslaskelman ja liitetiedot. Lausuntonamme esitämme, että • konsernitilinpäätös antaa oikean ja riittävän kuvan konsernin taloudellisesta asemasta sekä sen toiminnan tuloksesta ja rahavirroista EU:ssa käyttöön hyväksyttyjen kansainvälisten IFRS- tilinpäätösstandardien mukaisesti, • tilinpäätös antaa oikean ja riittävän kuvan emoyhtiön toiminnan tuloksesta ja taloudellisesta asemasta Suomessa voimassa olevien tilinpäätöksen laatimista koskevien säännösten mukaisesti ja täyttää lakisääteiset vaatimukset. Lausuntomme on ristiriidaton tarkastusvaliokunnalle annetun lisäraportin kanssa. Lausunnon perustelut Olemme suorittaneet tilintarkastuksen Suomessa noudatettavan hyvän tilintarkastustavan mukaisesti. Hyvän tilintarkastustavan mukaisia velvollisuuksiamme kuvataan tarkemmin kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa. Olemme riippumattomia emoyhtiöstä ja konserniyrityksistä niiden Suomessa noudatettavien eettisten vaatimusten mukaisesti, jotka koskevat suorittamaamme tilintarkastusta ja olemme täyttäneet muut näiden vaatimusten mukaiset eettiset velvollisuutemme. Emoyhtiölle ja konserniyrityksille suorittamamme muut kuin tilintarkastuspalvelut ovat parhaan tietomme ja käsityksemme mukaan olleet Suomessa noudatettavien, näitä palveluja koskevien säännösten mukaisia, emmekä ole suorittaneet EU-asetuksen 537/2014 5. artiklan 1 kohdassa tarkoitettuja kiellettyjä palveluja. Suorittamamme muut kuin tilintarkastuspalvelut on esitetty konsernitilinpäätöksen liitetiedossa 2.4. Käsityksemme mukaan olemme hankkineet lausuntomme perustaksi tarpeellisen määrän tarkoitukseen soveltuvaa tilintarkastusevidenssiä. Tilintarkastuksen kannalta keskeiset seikat Tilintarkastuksen kannalta keskeiset seikat ovat seikkoja, jotka ammatillisen harkintamme mukaan ovat olleet merkittävimpiä tarkastuksen kohteena olevan tilikauden tilintarkastuksessa. Nämä seikat on otettu huomioon tilinpäätökseen kokonaisuutena kohdistuneessa tilintarkastuksessamme sekä laatiessamme siitä annettavaa lausuntoa, emmekä anna näistä seikoista erillistä lausuntoa. Olemme täyttäneet kohdassa Tilintarkastajan velvollisuudet tilinpäätöksen tilintarkastuksessa kuvatut velvollisuutemme tilinpäätöksen tilintarkastuksessa mukaan lukien näihin seikkoihin liittyvät velvoitteemme. Tämän mukaisesti suoritimme suunnittelemamme tilintarkastustoimenpiteet, jotka kohdistuivat arviomme mukaisesti riskeihin, jotka voivat johtaa tilinpäätöksen olennaiseen virheellisyyteen. Suorittamamme tilintarkastustoimenpiteet, jotka kohdistuivat myös alla mainittuihin seikkoihin, ovat olleet perustana oheista tilinpäätöstä koskevalle lausunnollemme.
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120 CONSOLIDATED FINANCIAL STATEMENTS PARENT’S FINANCIAL STATEMENT AUDITOR’S REPORT DEFINITIONS OF KEY FIGURES ROBIT FURTHER. FASTER. ANNUAL REPORT 2025 Definitions of Key Figures The Report of the Board of Directors 2018 CCAALLCCUULLAATTIIOONN OOFF KKEEYY FFIIGGUURREESS EBITDA* = Operating profit + depreciation and amortisation EBITA = Operating profit + amortisation of goodwill Net working capital = Inventory + Accounts receivables and other receivables – Accounts payables and other liabilities Earnings per share (EPS), euros = Profit (loss) for the financial year Amount of shares adjusted with the share issue (average during the financial year) Return on equity,% = Profit (loss) for the financial year x 100 Equity (average during the financial year) Return on capital employed (ROCE),% = Profit before appropriations and taxes + interest expenses and other financing expenses x 100 Equity (average during the financial year) + interest-bearing financial liabilities (long-term and short-term loans from financial institutions, average during the financial period) Net interest-bearing debt = Long-term and short-term loans from financial institutions – cash and cash equivalents – short- term financial securities Equity ratio,% = Equity x 100 Balance sheet total – advances received Gearing,% = Net interest-bearing financial liabilities x 100 Equity
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38 ROBIT LYHYESTI YHTIÖ LIIKETOIMINTA VASTUULLISUUS SIJOITTAJILLE TILINPÄÄTÖS TUNNUSLUKUJEN LASKENTAKAAVAT ROBIT FURTHER. FASTER. VUOSIKERTOMUS 2025 Printed: Grano, Tampere 2026 Robit PLC • Vikkiniityntie 9, FI-33880 Lempäälä (Tampere), Finland Tel. +358 3 3140 3400 • investors@robitgroup.com • Business ID: FI08256270 • robitgroup.com If You have any feedback or comments on Robit’s annual report 2025, please contact via e-mail investors@robitgroup.com