Raute - No changes to an uncertain market
Raute’s Q3 EBIT, at EUR 1.7m, fell short of our EUR 2.5m estimate due to delayed new order development. Raute continues to comment the market situation in a cautious manner.
- Raute’s Q3 revenue stood at EUR 33.7m vs our EUR 35.0m estimate. Services revenue was in line with our estimate while project deliveries fell a little short of our expectation.
- Q3 EBIT was EUR 1.7m whereas we expected EUR 2.5m.
- Order intake amounted to EUR 73m in Q3 vs EUR 42m a year ago. The figure was greatly helped by the EUR 58m record order the company had disclosed previously.
- Order book stood at EUR 109m at the end of Q3 vs EUR 121m a year ago.
- Raute continues to comment the market environment in a cautious manner, citing prolonged negotiations and decision making. Services and spare parts demand remains stable, indicating good mill capacity utilization rates.
- Raute reiterates existing guidance, expecting both revenue and operating profit to decline compared to previous year.
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