Raute - Q3 remained very quiet
Raute’s Q3 proved slower than we estimated as both recognized revenue and order intake fell short of our expectations.
- Raute Q3 revenue was EUR 27.9m (down by 17 % y/y), compared to our EUR 34.0m estimate. The figure was EUR 18.1m for project deliveries (compared to our EUR 21.0m expectation) and EUR 9.8m for technology services (vs our EUR 13.0m estimate).
- EBIT amounted to EUR 1.3m vs our EUR 2.1m estimate.
- Q3 order intake was EUR 11m, while we expected EUR 21m. Raute booked EUR 2m in project deliveries vs our EUR 10m estimate. Meanwhile the figure for technology services was EUR 9m, compared to our EUR 11m expectation.
- Order book stood at EUR 62m (compared to EUR 109m a year ago).
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