Raute - Order intake above our estimates
Raute’s Q1 remained low in terms of revenue and profitability but order intake grew by some 20% y/y due to mid-size production line and modernization orders.
- Raute Q1 revenue was EUR 24.8m vs our EUR 34.0m estimate.
- Q1 EBIT amounted to EUR -2.5m, compared to our EUR 1.6m expectation.
- Order intake amounted to EUR 30m vs our EUR 22m estimate. Project deliveries’ orders were EUR 11m (EUR 14m a year ago), compared to our EUR 10m estimate. Meanwhile technology services orders were EUR 19m (EUR 11m a year ago) vs our EUR 12m estimate. Technology services’ order intake grew by 83% y/y thanks to modernization orders.
- Order book stood at EUR 98m at the end of Q1, compared to EUR 92m a year ago.
- Raute’s full-year outlook remains unchanged as net sales is to increase and operating profit to improve.
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