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Raute veneer patching line.

Raute

Plywood and LVL manufacturing solutions

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Overview

Raute offers production lines, machinery and services for the entire production process of veneer and veneer-based products, which include plywood and laminated veneer lumber (LVL). The company’s strategy is premised on a complementary offering of veneer production technology and services. Raute has differentiated itself through technological leadership and the ability to supply complete plywood and LVL production processes. Raute delivers most of its equipment in a tailored project-driven fashion to a global customer base consisting of hundreds of plywood and LVL mills. Raute has its main production plant in Lahti, Finland, however the company also operates a global sales and services network. Raute is a global leader in its niche market.
Raute is the most technologically sophisticated vendor and a market leader within its niche. In our view this set-up will not change as current competition lags quite far behind and larger capital goods companies are unlikely to enter the relatively small market. Predicting Raute's project delivery flow is not easy and a single large project can make up a significant portion of a given calendar year's activity. Services growth might help to smooth financial performance, however project deliveries will always remain crucially important for Raute's success.

Financial overview

Equity research

Raute veneer patching line.
Raute logo
Raute - Earnings stay high, multiples low

Raute has already achieved high results, and they could be even higher in a more favorable market environment.

Company update |
Raute veneer patching line.
Raute logo
Raute - High orders and stable guidance

Raute’s Q4 margins were a bit lower than we estimated even if top line was higher than we expected. The EUR 50m order intake was clearly higher than we expected and was a strong result as the figure didn’t include any larger orders. The prospects for a sustained market recovery seem still somewhat unclear, however Raute guides quite stable results for FY’25 at this point.

Earnings Flash |
Raute veneer patching line.
Raute logo
Raute - Earnings to remain quite stable

Raute reports Q4 results on Feb 13. FY’24 already showed strong results, while low valuation limits downside potential.

Preview |
Raute veneer patching line.
Raute logo
Raute - High earnings valued low

Raute’s Q3 earnings were already very strong, and although new order softness persists valuation also remains very low.

Company update |
Raute veneer patching line.
Raute logo
Raute - Very high 13.5% EBITDA margin

Raute’s EUR 46.4m Q3 revenue was soft relative to our estimate, yet the EUR 6.3m comparable EBITDA clearly topped our EUR 5.0m estimate and led already to a very high margin of 13.5%. Raute may not be able to improve much from such an earnings level in the short-term since the market remains challenging, as evidenced by the low EUR 15m new order intake in Q3. In our view smaller equipment orders nevertheless have room to gain next year as their demand has been weak for a while now. 

Earnings Flash |
Raute veneer patching line.
Raute logo
Raute - Nearing double-digit EBITDA margins

Raute reports Q3 results on Oct 31. The company upgraded guidance as in our view especially Wood Processing margins have developed better than was previously expected.

Preview |
Raute veneer patching line.
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Raute - Strong results, more potential left

Raute’s Q2 figures were mostly impressive even if smaller order flow remains one source of uncertainty.

Company update |
Raute veneer patching line.
Raute logo
Raute - Order book drove strong results

Raute’s Q2 revenue and earnings were a lot higher than we estimated as performance improved thanks to the large orders received last year. Other than the impressive order book the market remains quite challenging, as reflected by the low EUR 20m Q2 order intake figure.

Earnings Flash |
Raute veneer patching line.
Raute logo
Raute - Orders translate into earnings

Raute reports Q2 results on Aug 8, after upgrading its FY ’24 guidance recently thanks to a very high order backlog.

Preview |
Raute veneer patching line.
Raute logo
Raute - Earnings on a solid upward trend
Raute’s Q1 showed how Wood Processing is to return to black after a string of challenging years. Services is to maintain its steady performance, while Analyzers remains at the core of Raute’s offering.
Company update |

Annual financials

Quarterly financials

Assets

Equity and liabilities

Cashflow

Environment

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Videos

Raute - LVL process video 07.10.2019
IR presentation |

Annual and sustainability reports

Company news

RAUTE CORPORATION, Stock Exchange Release, 13 February 2025 at 9:00 a.m. EET

Raute Corporation initiates share repurchase program

The Board of Directors of Raute Corporation has decided to initiate a share repurchase program based on the authorization received from the Annual General Meeting on April 4, 2024.

The purpose of the share repurchase program is to optimize Raute's capital structure through reduction of capital. The repurchase of shares will reduce Raute's unrestricted equity. The repurchased shares will be cancelled.

The repurchased shares are used to develop the company's capital structure. The shares acquired will be cancelled.

The maximum number of shares to be repurchased is 100,000 shares, corresponding to approximately 1.6% of the total number of shares. A maximum of EUR 1,350,000 will be used for the repurchase of shares. The share repurchase will commence on February 17, 2025, at the earliest and will end no later than August 17, 2025.

The buybacks will be carried out in public trading in accordance with the safe harbour procedure referred to in Article 5 of the EU Market Abuse Regulation, including, but not limited to, daily price and volume limits. The shares will be acquired through public trading on Nasdaq Helsinki.

Raute has appointed Nordea to implement the share repurchase program in accordance with the applicable price and volume restrictions and the applicable terms and conditions. Raute has the opportunity to suspend and terminate the program within the repurchase period, and in such a situation, Raute will publish a stock exchange release on the matter.

The Annual General Meeting held on April 4, 2024, authorized the Board of Directors to decide on the repurchase of a maximum of 600,000 of the company's own shares, approximately 10% of all the shares in the company. The company's own shares will be repurchased with funds belonging to the company's unrestricted equity, in which case the repurchases will reduce the company's distributable unrestricted equity.

The total number of shares in Raute Corporation is 6,122,679. Raute Corporation and its subsidiaries currently own 96,011 treasury shares, which corresponds to 1.57 percent of all outstanding shares.

RAUTE CORPORATION
Board of Directors

 

FURTHER INFORMATION:
Mika Saariaho, President and CEO, tel. +358 40 154 9393

DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com

 

RAUTE IN BRIEF - Making Wood Matter
Raute acts as a partner for a sustainable future for the wood products industry. Our technologies cover various production processes as well as supporting digital and analyzer solutions for industrially manufactured wood products. In addition, we offer comprehensive service concepts from spare parts to regular maintenance and production modernizations. Our innovative technologies, software and service concepts are designed to support the efficient use of natural resources in our customers' production. Raute is the only turnkey supplier in the world that offers mill-wide technology solutions for veneer, plywood and LVL production. Raute's head office and largest production plant is located in Lahti. Our other production facilities are located in Kajaani, Vancouver, Canada, Changzhou, China and Pullman, Washington State, USA. In 2024, Raute's net sales were EUR 204.6 million The Group's headcount at the end of 2024 was 783. More about Raute: www.raute.com.

 

 

 

 

 

 

RAUTE CORPORATION, FINANCIAL STATEMENTS RELEASE, FEBRUARY 13, 2025, AT 8:45 A.M. EET

Raute Corporation - Financial Statements Release January 1-December 31, 2024: Strong net sales growth and profitability development

This is a summary of Raute's Financial statements release January 1 - December 31, 2024. The full report is a PDF file attachment to this stock exchange release and is also available on the company's website at www.raute.com.

 

October−December 2024

  • Order intake was EUR 50 million (118)
  • Order book was EUR 184 million (266) at the end of the reporting period
  • Net sales were EUR 56.5 million (45.2)
  • Comparable EBITDA was EUR 5.1 million (2.7), representing 9.1% (5.9) of net sales
  • Operating profit was EUR 3.5 million (0.7)
  • Earnings per share were EUR 0.54 (0.09)
  • Equity ratio was 55.2% (50.2)

January−December 2024

  • Order intake was EUR 121 million (315)
  • Net sales were EUR 204.6 million (145.4)
  • Comparable EBITDA was EUR 19.8 million (9.3), representing 9.7% (6.4) of net sales
  • Operating profit was EUR 13.7 million (1.9)
  • Earnings per share were EUR 1.96 (0.22)
  • The Board of Directors' dividend proposal is EUR 0.55 per share

 

Guidance statement for 2025

Raute's 2025 net sales are expected to be between EUR 190-220 million and comparable EBITDA between EUR 17-24 million.

The Board's dividend proposal

The Board of Directors of Raute Corporation proposes to the Annual General Meeting that EUR 0.55 per share be paid dividend.

KEY FIGURES

1.10.-31.12.

2024

1.10.-31.12.

2023

1.1.-31.12.

2024

1.1.-31.12.

2023

Net sales, MEUR

56.5

45.2

204.6

145.4

Change in net sales, %

24.9

-1.1

40.7

-8.2

Exported portion of net sales, %

75.8

91.2

84.3

91.0

Comparable EBITDA M€

5.1

2.7

19.8

9.3

Comparable EBITDA %

9.1

5.9

9.7

6.4

Operating profit, MEUR

3.5

0.7

13.7

1.9

Operating profit, % of net sales

6.2

1.5

6.7

1.3

Profit before taxes, MEUR

3.8

0.5

15.1

1.8

Profit before taxes, % of net sales

6.7

1.2

7.4

1.2

Profit for the period, MEUR

3.0

0.7

12.1

1.4

Profit for the period, % of net sales

5.2

1.5

5.9

0.9

 

 

 

 

 

Gross capital expenditure, MEUR

1.3

1.1

2.8

4.5

% of net sales

2.3

2.4

1.4

3.1

 

 

 

 

 

Research and development costs, MEUR

1.3

1.4

5.3

5.2

% of net sales

2.4

3.1

2.6

3.6

 

 

 

 

 

Order book, MEUR

184

266

184

266

Order intake, MEUR

50

118

121

315

 

 

 

 

 

Personnel, at the end of the period

 

 

783

754

Personnel, effective, on average

 

 

740

749

Personnel, on average

 

 

782

754

 

Mika Saariaho, President and CEO: Firm operational execution continued, healthy order intake in the fourth quarter

2024 was a year of solid project execution for Raute, with elevated profitability and operational performance. The year clearly demonstrated that we are making good progress towards our strategic targets.

In 2024, Raute achieved a solid profitability level as comparable EBITDA reached EUR 19.8 million, representing a margin of 9.7%, and net sales exceeded EUR 200 million. This was driven by the continued firm operational execution in Wood Processing and strong performance in Services. In Analyzers, the progress was a bit softer as the business was particularly affected by challenging market environment.

Our order intake turned more positive in the fourth quarter after a few slower quarters. This is a good achievement, as the order intake did not include any mill-sized projects. However, given the prolonged market uncertainty and the recent concerns on global free trade, sustained market recovery is still to be confirmed.

In the fourth quarter, Raute's net sales increased by 24.9% to EUR 56.5 million and comparable EBITDA reached EUR 5.1 million, representing a margin of 9.1%. The result mirrors our full-year performance after a seasonally strong third quarter, and it was achieved through improved operational efficiency and continued solid progress in project deliveries.

We have done plenty of development work and throughout the year made strides in enhancing our capabilities in commercial operations as well as in deliveries and operational efficiency. Our performance in 2024 demonstrated our strong capabilities to deliver large projects successfully and to utilize digitalization in creating new opportunities in engineered wood products segments. Analyzers continued to be a forerunner in introducing new innovations to our customers. For example, towards the end of the year we introduced a new AI-based defect detection solution as part of our digitalization push.

In addition to augmenting our operational and commercial capabilities, sustainability was another focus area. Towards the end of the year, we set the main KPIs and related metrics for our sustainability reporting. In regard to safety, in 2024, we launched a comprehensive program focusing on employee health and safety, targeting zero accidents. The program has started to improve the way we approach safety, and, for example, the number of safety observations increased during the year.

Looking ahead to 2025, we have the building blocks in place for another good year. We have a solid order book that offers a buffer against the current business environment. And we have strong and long-term relationships with our customers, helping us to capture new business opportunities when the market recovery takes place.  

BUSINESS ENVIRONMENT

The global demand for the end-user products of Raute's customers remained low due to the downturn in the construction markets. This has especially impacted the demand for softwood plywood. Declining interest rates have not yet had a positive impact on the housing market.

The demand for hardwood plywood and LVL (laminated veneer lumber) has remained more stable, and the demand for special applications in niche market segments like LNG (liquid natural gas) vessels has strengthened the demand for birch plywood. The European birch plywood market demand is also supported by the EU sanctions against the entry of Russian birch plywood into the European market.

The presidential election in the USA postponed certain investment decisions of Raute's North American customers, and that impact is still visible. Public statements regarding new tariffs to be imposed by the US administration have caused additional instability in the market. The war in Ukraine continues to impact the market sentiment in Europe, and the increased geopolitical tension is causing turbulence in the Asia-Pacific region and China.

Overall, the recent developments have had a negative impact on the investment activity of Raute's customers worldwide. Our customers continue to be in a wait-and-see mode in relation to making firm investment decisions. It now seems that a wider recovery in Raute's markets is postponed well into 2025.

Order intake and order book

The total order intake was EUR 121 million (315) and included an order worth EUR 20 million from Latvian AmberBirch for the technology delivery of a birch veneer production plant expansion.

Order intake is composed of 67% (65) from Europe, 19% (15) from North America, 5% (2) from Asia-Pacific and 9% (19) from South America.

Net sales

Net sales amounted to EUR 204.6 million (145.4), showing an increase of 40.7% from the comparison period. This was driven by the solid progress in project deliveries in the Wood Processing business and high demand in the Services business.

Sales increased by 59.3% in Wood Processing and 27.5% in Services, while decreased by 23.4% in Analyzers.

Europe accounted for 56% (40) of net sales, North America for 22% (30), South America for 19% (15), Asia-Pacific for 3% (6) and Russia for 0% (9). During the comparison period, Russia's share of net sales was based on the adjustments from renegotiations with customers and the limits set by the sanctions.

Result and profitability

Comparable EBITDA was EUR 19.8 million (9.3) and comparable EBITDA margin was 9.1% (6.4). The increase was driven by improved efficiency through higher volumes [as well as the control of fixed costs].  

Comparable EBITDA improved in Wood Processing and Services, while declined in Analyzers.

EBITDA was EUR 19.1 million (6.8). Items affecting comparability (IACs) in EBITDA totaled EUR 0.7 million (2.5).

The operating profit was EUR 13.7 million (1.9).

Net financial items were EUR 1.4 million (-0.1), where the increase was primarily driven by higher interest income.

The result before taxes was EUR 15.1 million (1.8). The result for the reporting period was EUR 12.1 million (1.4), earnings per share were EUR 1.96 (0.22) and diluted earnings per share were EUR 1.90 (0.22).

PROPOSAL FOR THE DISTRIBUTION OF PROFITS

On December 31, 2024, the parent company Raute Corporation's distributable funds amounted to EUR 41,216,201.46.

The Board of Directors proposes to the Annual General Meeting, to be held on April 15, 2025, that a dividend of EUR 0.55 per share be paid for the financial year January 1-December 31, 2024.

GUIDANCE STATEMENT FOR 2025

Raute's 2025 net sales are expected to be between EUR 190-220 million and comparable EBITDA between EUR 17-24 million.

RAUTE CORPORATION
Board of Directors

 

BRIEFING ON FEBRUARY 13, 2025, AT 2:00 P.M.

A briefing will be organized for analysts, investors and the media on February 13, 2025, at 2:00 p.m. EET at Scandic Simonkenttä Hotel, Simonkatu 9, Helsinki, Finland. The financial statements release is presented by President and CEO Mika Saariaho and CFO Ville Halttunen. The presentation language is English. The event can also be followed online via Teams. We will send a Teams link to those who have registered by email; registrations at ir@raute.com. The event will be recorded, and the recording can be viewed on Raute's website at www.raute.com on February 17, 2025, at the latest.

FINANCIAL CALENDAR IN 2025

Raute will publish financial results in 2025 as follows:

  • Business review January-March on Wednesday, May 7, 2025
  • Half-year financial report January-June on Tuesday, August 12, 2025
  • Business review January-September on Thursday, October 30, 2025.

Raute's Financial statements, Board of Directors' report including sustainability statement, Corporate governance statement, Remuneration report and Annual report 2024 will be published as a stock exchange release and on the company's website www.raute.com during week 12.

The Annual General Meeting is planned to be held in Lahti on Tuesday April 15, 2024, at 10 a.m. Raute's Board of Directors will convene the Meeting at a later date.

 

FURTHER INFORMATION:
Mr. Mika Saariaho, President and CEO, tel. +358 40 154 9393
Mr. Ville Halttunen, CFO, tel. +358 50 346 0868

DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com

 

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2024 were EUR 204.6 million. The Group's headcount at the end of 2024 was 783. More information about the company can be found at www.raute.com.

RAUTE CORPORATION, INVESTOR NEWS, FEBRUARY 5, 2025, AT 9:00 A.M. EET

Publication of Raute Corporation's Financial statements release and invitation to a result briefing

Raute Corporation will publish its financial statements release for January 1−December 31, 2024 (12 months) on Thursday, February 13, 2025, at about 9 a.m. EET. A result briefing in English for analysts, investors and the media will be organized on the same day February 13, 2025, at 2:00−3:00 p.m.

Venue place: Scandic Simonkentta Hotel, Simonkatu 9, Helsinki.

Please inform of your participation in the briefing at the latest on Tuesday, February 11, 2025, to Raute Corporation, Elina Suomalainen, ir@raute.com. You may also follow the briefing online through Teams. We will send a Teams link by email to those who have informed of their participation in the online presentation.

You are welcome to hear about our 2024 financial results, other current issues and outlook for 2025. The presentations will be made by Raute Corporation's President and CEO Mika Saariaho and CFO Ville Halttunen.

The briefing will be recorded, and the recording will be available at Raute's website www.raute.com on February 17, 2025, at the latest.

The financial statements release for January 1−December 31, 2024 (12 months) will be available at www.raute.com on Thursday, February 13, 2025, at about 9:00 a.m. The presentation material will be available at www.raute.com > Investors > Financial Information > Result Center on Thursday, February 13, 2025, at approximately 3 p.m. after the event.

FURTHER INFORMATION: Mr. Ville Halttunen, CFO, mobile phone +358 50 3460868
DISTRIBUTION: Main media, www.raute.com

 

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com

Raute Corporation, Stock Exchange Release, 23 January 2025 at 10:00 a.m. EET

Proposals of the Shareholders' Nomination Board to Raute Corporation's Annual General Meeting 2025

The Shareholders' Nomination Board of Raute Corporation (the "Nomination Board") proposes to the Annual General Meeting convening on April 15, 2025, that Raute's Board of Directors would consist of seven members.

The Nomination Board proposes that Laura Raitio, Licentiate of Science (Technology), would continue to be elected as the Chair of the Board of Directors and Joni Bask, M.Sc. (Tech.), would continue to be elected as the Vice Chair of the Board of Directors. It is proposed that Ari Harmaala, M.Sc. (Eng.), Mikko Kettunen, M.Sc. (Econ.), Julius Manni, M.Sc. (Econ.), Ari Piik, M.Sc. (Econ.), and Jenni Virnes, M.Sc. (Eng.), be re-elected as members of the Board of Directors.

All candidates have given their consent to the positions.

The Nomination Board proposes that the remuneration of the members of the Board of Directors be revised so that the Chair of the Board of Directors receives EUR 55,000 and the members of the Board of Directors EUR 27,000 for the term of office, as well as the following remuneration for committee work:

  • Meeting fee for committee work to the Chair of the Audit Committee EUR 1000 per meeting,
  • The meeting fee for the chair of other possible committees and committee members is EUR 500 per meeting.

Reimbursement of expenses shall be paid in accordance with the company's current travel policy.

Regarding the election procedure for the members of the Board of Directors, the Nomination Board recommends that the shareholders take a position on the proposal as a whole at the Annual General Meeting. When making the proposal and assessing the qualifications of the individual nominees, the Nomination Board has assessed that the proposed entity of the Board of Directors has the best possible expertise for the company and that the composition of the Board of Directors also meets the other requirements of the Corporate Governance Code for listed companies.

The Nomination Board proposes to the Annual General Meeting that in future a meeting fee of EUR 500 per meeting be paid for the work of the Nomination Board. This requires an amendment to the Charter of the Nomination Board.

The composition of Raute's Shareholders' Nomination Board was announced on September 3, 2024, and its Chair is Pekka Suominen, and its members are Göran Sundholm and Kustaa Poutiainen. Laura Raitio, Chair of the Board of Directors, has acted as an expert in the Nomination Board without being a member of the Nomination Board. The Nomination Board has convened three times during the term.

The Nomination Board made its proposal for a decision unanimously.

The above-mentioned proposals will also be included in the notice to the Annual General Meeting to be published later.

RAUTE CORPORATION
 

FURTHER INFORMATION: Pekka Suominen, Chair of the Nomination Board. Contact requests: Executive Assistant Elina Suomalainen, tel +358 44 289 9330.

DISTRIBUTION:

Nasdaq Helsinki Ltd, main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

 

Raute Corporation, Stock Exchange Release, 10 January 2025 at 2:00 p.m. EET

Charges against a member of the Board of Directors of Raute in a Ramirent Oyj related matter have been dropped

According to the information that Raute Corporation has received, the public prosecutor has decided to drop charges related to suspected securities markets offences against Laura Raitio, who is a member of the Board at Raute Corporation.

The matter did not relate to Raute Corporation nor have had an effect on the work of the Raute Board.

RAUTE CORPORATION
Corporate Communications

 

DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com

 

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

 

Raute Corporation, Press release 8 January 2025 at 11.30 a.m. EET

Hiottu Oy has merged into Raute Corporation

Raute Corporation announced on 16 August 2024 that the company has decided to merge its wholly owned subsidiary Hiottu Oy into Raute Corporation. The background for the merger decision was to simplify the Group structure to increase business efficiency.

As planned, Hiottu Oy has merged into Raute Corporation on 31 December 2024.

FURTHER INFORMATION:
Mr. Mika Saariaho, President and CEO, tel. +358 40 154 9393

DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

 

Raute Corporation, Stock Exchange Release, 25 November 2024 at 2:30 p.m. EET

Raute Corporation's Financial Calendar and Annual General Meeting in 2025

Raute Corporation will publish the following financial reports in 2025:

  • Financial statements release 2024 on Thursday February 13, 2025
  • Business review January-March on Wednesday May 7, 2025
  • Half-year financial report January-June on Tuesday August 12, 2025
  • Business review January-September on Thursday October 30, 2025.

Raute's Financial statements, the Board of Directors report including sustainability statement, Corporate governance statement, the Remuneration report and Annual report 2024 will be published as a stock exchange release and on the company's website www.raute.com during week 12.

Raute Corporation's Annual General Meeting is planned to be held in Lahti on Tuesday April 15, 2025. The Board of Directors of the company will convene the Meeting at a later date.

FURTHER INFORMATION:
Ville Halttunen, CFO, tel. +358 50 3460868

DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com  
 

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

RAUTE CORPORATION, INTERIM REPORT, OCTOBER 31, 2024, AT 8:45 AM EET

Raute Corporation's interim report January 1-September 30, 2024: Strong profitability in the third quarter

This is a summary of Raute's interim report January 1-September 30, 2024. The complete report is attached to this release as a pdf file and is also available on the company's' website at www.raute.com.

RAUTE CORPORATION - INTERIM REPORT JANUARY 1-SEPTEMBER 30, 2024

July−September 2024
  • Order intake was EUR 15 million (19)
  • Order book was EUR 186 million (192) at the end of the reporting period
  • Net sales were EUR 46.4 million (34.0)
  • Comparable EBITDA was EUR 6.3 million (3.0), representing 13.5% (8.8%) of net sales
  • Operating profit was EUR 4.8 million (1.4)
  • Earnings per share were EUR 0.73 (0.16)
  • Equity ratio was 54.3% (55.4%)
January−September 2024
  • Order intake was EUR 72 million (197)
  • Net sales were EUR 148.1 million (100.2)
  • Comparable EBITDA was EUR 14.7 million (6.6), representing 9.9% (6.6%) of net sales
  • Operating profit was EUR 10.2 million (1.2)
  • Earnings per share were EUR 1.48 (0.11)

KEY FIGURES 1.7. 1.7.-30.9. 1.1.-30.9. 1.1.-30.9. 1.1.-31.12.
-30.9.
2023 2024 2023 2023

2024
Net sales, MEUR 46.4 34.0 148.1 100.2 145.4
Change in net 36.4 -18.5 47.8 -11.0 -8.2
sales, %
Comparable EBITDA, 6.3 3.0 14.7 6.6 9.3
MEUR
Comparable EBITDA, 13.5 8.8 9.9 6.6 6.4
%
Operating profit, 4.8 1.4 10.2 1.2 1.9
MEUR
Operating profit, 10.4 4.1 6.9 1.2 1.3
% of net sales
Profit for the 4.5 1.0 9.3 0.7 1.4
period, MEUR
Profit for the 9.6 3.0 6.0 0.7 0.9
period, % of net
sales

Gross capital 0.4 1.1 1.5 3.4 4.5
expenditure, MEUR
% of net sales 1.0 3.2 1.0 3.4 3.1

Research and 1.2 0.8 4.0 3.8 5.2
development costs,
MEUR
% of net sales 2.7 2.4 2.7 3.8 3.6

Order book, MEUR 186 192 266
Order intake, MEUR 15 19 72 197 315

Personnel, at the 789 745 754
end of the period
Personnel, 782 695 749
effective, on
average
Personnel, on 785 748 754
average

President and CEO Mika Saariaho: Solid operational execution in Wood Processing and yet another good quarter in Services

Raute reached strong profitability in the third quarter as we continued solid operational execution in Wood Processing and our Services business had yet another good quarter. In the past couple of years, we have put great emphasis on developing our operational and commercial capabilities, and this is clearly paying off now.

The market environment remained challenging, and consequently our order intake was still at a modest level. Although there were some weak signals of market recovery earlier this year, it now seems that customers have postponed their investment plans well into 2025. Nevertheless, we have strong and long-term relationships with our customers, and I am convinced we are able to capture new business opportunities when the cycle turns. Our solid order book, which remains nearly at last year's level, offers a buffer against the current uncertain business environment.

In terms of new order intake, the Services business was once again a bright spot, while the Wood Processing and Analyzers businesses suffered from the challenging market environment. To adjust capacity and achieve cost savings we have conducted change negotiations on possible temporary layoffs in certain parts of our delivery organization in those two units in Finland. The extent and duration of temporary layoffs depend on the development of new order intake and its impact on the workload.

In the third quarter, Raute's net sales increased by 36.2% to EUR 46.4 million and comparable EBITDA reached a quarterly record of EUR 6.3 million, representing a margin of 13.5%. This was the first time we exceeded our long-term target of a 12% margin over the cycle since the introduction of our strategy in March 2023. We achieved this seasonally strong profitability through improved operational efficiency and solid progress in project deliveries. Consequently, earlier in October we raised our 2024 guidance for comparable EBITDA. 

Our performance in the reporting period was yet another proof point that we are on track to reach our long-term financial targets. We have the capabilities to deliver large mill-sized projects successfully and utilize digitalization to create new opportunities in engineered wood products segments. We will continue the implementation of Raute's growth strategy with determination.

GUIDANCE STATEMENT FOR 2024 (updated on October 22, 2024)

Raute's 2024 net sales are expected to be between EUR 190-210 million and comparable EBITDA between EUR 17-21 million.

Rationale for the new guidance on October 22, 2024

Raute's strong order backlog has supported the positive business development despite the continued challenging market environment. Raute's project deliveries and services business have progressed better than anticipated, which has led to positive profit development during the third quarter. Therefore, Raute raises its guidance for profit and updates its guidance on net sales for the full year.

Previous guidance statement
Raute's 2024 net sales are expected to be between EUR 185-210 million and comparable EBITDA between EUR 13-17 million.

BUSINESS ENVIRONMENT

The global demand for the end-user products of Raute's customers remained low due to the downturn in the construction markets. This has especially impacted the demand for softwood plywood in the third quarter. Lower interest rates have not yet had a positive impact on the housing market. While there were some weak signals of market recovery earlier this year, the market consensus now seems to be that a wider market recovery will be postponed well into 2025.

The demand for hardwood plywood and LVL (laminated veneer lumber) has remained more stable, and the demand for special applications in niche market segments like vehicle manufacturing or LNG (liquid natural gas) vessels has strengthened the demand for birch plywood. The European birch plywood market demand is also supported by the EU sanctions against the entry of Russian birch plywood into the European market.

Raute's customers have actively requested technical support for their investment plans, which may indicate increasing investment activity next year. These plans are focusing on higher automation levels, enabling savings in manpower as well as an increase in production capacity in the longer run.

RAUTE CORPORATION
Board of Directors

BRIEFING

A briefing is organized for analysts, investors, and the media on October 31, 2024, at 2:00 p.m. at Scandic Simonkenttä Hotel, Simonkatu 9, Helsinki, Finland. The interim report is presented by President and CEO Mika Saariaho and CFO Ville Halttunen. The presentation language is English. The event can also be followed online via Teams. Link will be sent to those who have registered by email; registrations at ir@raute.com.The event will be recorded, and the recording can be viewed on Raute's website at www.raute.com on November 4, 2024, at the latest.

FURTHER INFORMATION:
Mr. Mika Saariaho, President and CEO, tel. +358 40 154 9393
Mr. Ville Halttunen, CFO, tel. +358 50 3460868

DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

RAUTE CORPORATION, INVESTOR NEWS, OCTOBER 23, 2024, AT 9:00 A.M. EEST

Publication of Raute Corporation's Q3 2024 interim report and invitation to a result briefing

Raute Corporation will publish its interim report for January 1−September 30, 2024 (9 months) on Thursday, October 31, 2024, around 9:00 a.m. EEST. A result briefing in English for analysts, investors and the media will be organized on the same day October 31, 2024, at 2:00−3:00 p.m. EEST.

Venue place: Scandic Simonkenttä Hotel, Simonkatu 9, Helsinki.

Please inform of your participation in the result briefing at the latest on Tuesday, October 29, 2024, to Raute Corporation, Elina Suomalainen; ir@raute.com.You may also follow the briefing online through Teams. We will send the Teams link by email to those who have registered for the event.

You are welcome to hear about our Q3 2024 results, other current issues, and outlook for 2024. The presentation will be made by Raute Corporation's President and CEO Mika Saariaho and CFO Ville Halttunen.

The result briefing will be recorded, and the recording is available at Raute's website www.raute.com on November 4, 2024, at the latest.

The interim report for January 1-September 30, 2024, will be available at www.raute.com on Thursday, October 31, 2024, around 9:00 a.m. EEST. The presentation material will be available at www.raute.com > Investors > Financial Information > Result Center on Thursday, October 31, 2024, at 2:00 p.m. EEST once the presentation starts.

FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868

DISTRIBUTION:
Main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

Raute Corporation, Inside information, October 22, 2024 at 8:00 a.m.

Inside information: Positive profit warning - Raute updates its guidance regarding net sales and profit

Raute updates its guidance regarding net sales and profit

New guidance for 2024:

Raute's 2024 net sales are expected to be between EUR 190-210 million and comparable EBITDA to be between EUR 17-21 million.

Previous guidance for 2024: (published on June 19, 2024):

Raute's 2024 net sales are expected to be between EUR 185-210 million and comparable EBITDA to be between EUR 13-17 million.

Rationale for the new guidance:

Raute's strong order backlog has supported the positive business development despite the continued challenging market environment. Raute's project deliveries and services business have progressed better than anticipated, which has led to positive profit development during the third quarter. Therefore, Raute raises its guidance for profit and updates its guidance on net sales for the full year.

RAUTE CORPORATION
Mika Saariaho
President and CEO

FURTHER INFORMATION:
Mika Saariaho, President and CEO, tel. +358401549393

DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

Raute Corporation, Stock Exchange Release, 3September2024 at 15:15 EEST

The composition of Raute's Shareholders' Nomination Board

According to the charter of the shareholders' nomination Board ("Nomination Board"), the Chairperson of the Board of Directors has requested the three largest shareholders in accordance with the situation on the last business day of August 2024 to appoint a member to the Nomination Board. The third, the fourth and the fifth largest shareholders have withdrawn from the right to nominate a member to the Nomination Board.

The following members have been appointed to Raute Corporation's Shareholders' Nomination Board:

Pekka Suominen (directly and indirectly by proxies)

Göran Sundholm

Kustaa Poutiainen (appointed by Stephen Industries Inc.)

Laura Raitio, the Chair of the Board of Directors of Raute, serves as an expert in the Nomination Board without being a member.

The term of the members of the Nomination Board ends upon the appointment of new members of the Nomination Board in 2025.

The charter of the Nomination Board is available address:

https://materials.raute.com/file/dl/i/6nX0kw/ebOlpspYYl8QGKhkGh5fbg/CharteroftheShareholdersNominationBoard.pdf

FURTHER INFORMATION:
Ville Halttunen, CFO, tel. +358 50 3460868

DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

RAUTE CORPORATION PRESS RELEASE SEPTEMBER 3, 2024, at 9.00 A.M.

Raute to initiate change negotiations on possible temporary layoffs of up to 90 days in the Analyzers and Wood Processing business units in Finland

Raute's order backlog is currently at a high level, especially thanks to large mill-sized orders received in 2023. However, Raute's market environment in 2024 has been challenging in the Analyzers and Wood Processing business units, and thus the new order intake has been at a modest level during 2024. Consequently, we estimate that towards the end of the year the workload will clearly decrease in certain parts of our delivery organization, as the timing of order backlog deliveries affects the workload in different functions of our organization in different cycles.

To adjust capacity to the temporary decrease in workload in certain parts of our delivery organization and to achieve cost savings, Raute Corporation has started change negotiations on possible temporary layoffs in the Analyzers and Wood Processing business units in Finland. The change negotiations concern all Finnish offices in Raute Corporation and Hiottu Oy. The negotiations cover a total of approximately 416 people.

The potential need for layoffs is a maximum of 90 days, and the layoffs would be implemented in the remaining months of 2024 and the first half of 2025. The extent and duration of temporary layoffs depend on the development of the new order intake in the near future and its impact on the workload of individuals and departments. Possible layoffs may affect the entire personnel within the scope of the negotiations and all personnel groups.

FURTHER INFORMATION:
Mr. Mika Saariaho, President and CEO, tel. +358 40 154 9393

DISTRIBUTION:
Main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

RAUTE CORPORATION, HALF-YEAR FINANCIAL REPORT, AUGUST 8, 2024, AT 08:45 A.M.

Raute Corporation's half-year financial report January 1-June 30, 2024: All-time high quarterly net sales with good profitability development

This is a summary of Raute's half-year financial report January 1-June 30, 2024. The complete report is attached to this release as a pdf file and is also available on the company's' website at www.raute.com.

RAUTE CORPORATION - HALF-YEAR FINANCIAL REPORT JANUARY 1-JUNE 30, 2024

April−June 2024

-          Order intake was EUR 20 million (112)

-          Order book was EUR 223 million (202) at the end of the reporting period

-          Net sales were EUR 57.1 million (29.3)

-          Comparable EBITDA was EUR 5.4 million (0.7), representing 9.4% (2.5%) of net sales

-          Operating profit was EUR 3.9 million (-1.0)

-          Earnings per share were EUR 0.56 (-0.15)

-          Equity ratio was 48.5% (57.0%)

January−June 2024

-          Order intake was EUR 56 million (179)

-          Net sales were EUR 101.7 million (66.2)

-          Comparable EBITDA was EUR 8.4 million (3.6), representing 8.2% (5.4%) of net sales

-          Operating profit was EUR 5.4 million (-0.2)

-          Earnings per share were EUR 0.76 (-0.07)

KEY FIGURES 1.4. 1.4.-30.6. 1.1.-30.6. 1.1.-30.6. 1.1.-31.12.
-30.6. 2023 2024 2023 2023

2024
Net sales, MEUR 57.1 29.3 101.7 66.2 145.4
Change in net 94.7 -0.9 53.7 -6.6 -8.2
sales, %
Comparable EBITDA, 5.4 0.7 8.4 3.6 9.3
MEUR
Comparable EBITDA, 9.4 2.5 8.24 5.4 6.4
%
Operating profit, 3.9 -1.0 5.4 -0.2 1.9
MEUR
Operating profit, 6.9 -3.5 5.3 -0.3 1.3
% of net sales
Profit for the 3.4 -0.8 4.7 -0.4 1.4
period, MEUR
Profit for the 6.0 -2.7 4.6 -0.5 0.9
period, % of net
sales

Gross capital 0.6 1.4 1.0 2.3 4.5
expenditure, MEUR
% of net sales 1.1 4.8 1.0 3.5 3.1

Research and 1.4 1.7 2.8 3.0 5.2
development costs,
MEUR
% of net sales 2.4 5.8 2.7 4.5 3.6

Order book, MEUR 223.0 202.0 266.0
Order intake, MEUR 20.0 112.0 56.0 179.0 315.0

Personnel, at the 798 757 754
end of the period
Personnel, 745 685 749
effective, on
average
Personnel, on 777 744 754
average

President and CEO Mika Saariaho: Continued solid progress in project deliveries and services

I'm pleased with our performance in the second quarter. Raute's project deliveries and Services business have progressed well, which has led to all-time high net sales realization and good profitability development. 

The market environment remained challenging as many of our customers continued to be in a wait-and-see mode in relation to making firm investment decisions. As a result, our order intake was still rather modest, with the exception of the Services business as a bright spot. However, our strong order book provides a good buffer in the current uncertain business environment.

In the second quarter, comparable EBITDA developed above our expectations and was EUR 5.4 million, representing a margin of 9.4%. The result highlights the improved efficiency of our operations as we made solid progress in project deliveries and achieved all-time high quarterly net sales. Consequently, in June we raised our guidance for net sales and comparable EBITDA for 2024. 

The Wood Processing business continued to improve its performance by making good progress in the project deliveries of mill-sized orders won last year. The Services business also performed well, supported by relatively good order intake. In addition, our performance-based service concept, where we take full maintenance responsibility for the customer's production machinery, is gaining traction. The Analyzers business managed to return to a profit after a loss-making first quarter. We continue to believe in the potential of our Analyzers business supported by new innovations coming to market.

The recent performance demonstrates that we are making good progress towards our long-term financial targets. The profitability of our existing orderbook is improving and we have the capabilities to deliver large projects successfully. Digitalization and increasing sustainability and resource efficiency focus continues to create new opportunities for Raute in the wider engineered wood products segments. Overall, we are in a good position to continue implementing Raute's growth strategy.

BUSINESS ENVIRONMENT

The end-user market uncertainty in engineered wood products continued in the first half of 2024. Some weak signals of a slowly improving market sentiment can be seen. The demand for both hardwood and softwood plywood has stabilized or even somewhat improved during the period. However, the pricing of the end products continues to be under pressure. The demand for LVL has remained more stable over the cycles.

While inflation has stabilized, the high interest rates, the overall economic uncertainty and geopolitical instability have slowed down the demand for the traditional end-product consuming industries such as construction and commercial vehicle production. The EU actions to stop the import of illegal Russian birch plywood with clearly lower prices to European market have helped the European birch plywood producers.

The impact of the low end-product demand is clearly visible in Raute's customers' investment activity, which is geared towards improving their production efficiency by preventive maintenance activities supported by our expert services and site audits. We have also seen increasing interest among our customers to invest in those manufacturing technologies which enable higher automation levels and savings in manpower. In addition, there continues to be interest among our customers in strategic investments to increase their production capacity over the economic cycles.

The highlight of the first half for Raute was the EUR 20 million order for a greenfield veneer mill machinery from AmberBirch in Latvia. Apart from the AmberBirch order, Raute's order intake mainly comprised service and modernization projects.

GUIDANCE STATEMENT FOR 2024 (updated on June 19, 2024)

Raute's 2024 net sales are expected to be between EUR 185-210 million and comparable EBITDA between EUR 13-17 million.

Rationale for the new guidance

Raute's strong order backlog has supported the positive business development despite the continued challenging market environment. Raute's project deliveries and Services business have progressed better than anticipated, which led to positive net sales and profit development during the second quarter. Therefore, Raute raised its guidance for both net sales and profit for the full year.

Previous guidance statement

Raute's 2024 net sales are expected to be between EUR 170-195 million and comparable EBITDA between EUR 10-14 million.

RAUTE CORPORATION
Board of Directors

BRIEFING

A briefing is organized for analysts, investors, and the media on August 8, 2024, at 2:00 p.m. at Scandic Simonkenttä Hotel, Simonkatu 9, Helsinki, Finland. The report is presented by President and CEO Mika Saariaho and CFO Ville Halttunen. The presentation language is Finnish. The event can also be followed online via Teams. Link will be sent to those who have registered by email; registrations at ir@raute.com.The event will be recorded, and the recording can be viewed on Raute's website at www.raute.com on August 12, 2024, at the latest.

NEXT INTERIM REPORT:
Raute Corporation's interim report January 1-September 30, 2024, will be published on Thursday, October 31, 2024.

FURTHER INFORMATION:
Mr. Mika Saariaho, President and CEO, tel. +358 40 154 9393
Mr. Ville Halttunen, CFO, tel. +358 50 3460868

DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

RAUTE CORPORATION, INVESTOR NEWS, JULY 31, 2024, AT 10:00 A.M.

Publication of Raute Corporation's Half-year financial report 2024 and invitation to a briefing

Raute Corporation will publish its half-year financial report for January 1−June 30, 2024 (6 months) on Thursday, August 8, 2024, at about 9 a.m. A briefing for analysts, investors and the media will be organized on the same day August 8, 2024, at 2:00−3:00 p.m.

Venue place: Scandic Simonkenttä Hotel, Simonkatu 9, Helsinki.

Please inform of your participation in the briefing at the latest on Tuesday, August 6, 2024, to Raute Corporation, Elina Suomalainen (elina.suomalainen@raute.com).You may also follow the briefing online through Teams. We will send a Teams link by email to those who have registered for the event.

You are welcome to hear about our H1 2024 results, other current issues, and outlook for 2024. The presentation will be made by Raute Corporation's President and CEO Mika Saariaho and CFO Ville Halttunen. The presentation will be held in Finnish.

The briefing will be recorded, and the recording is available at Raute's website www.raute.com on August 12, 2024, at the latest.

The half-year financial report for January 1-June 30, 2024, will be available at www.raute.com on Thursday, August 8, 2024, at about 9:00 a.m. The presentation material will be available at www.raute.com > Investors > Financial Information > Result Center on Thursday, August 8, 2024, at 2:00 p.m. once the presentation starts.

FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868

DISTRIBUTION:
Main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

Raute Corporation, Inside information June 19, 2024, at 08:30 EEST

Inside information: Positive profit warning - Raute updates its guidance regarding net sales and profit

Raute updates its guidance regarding net sales and profit.

New guidance for 2024:

Raute's 2024 net sales are expected to be between EUR 185 - 210 million and comparable EBITDA to be between EUR 13 - 17 million.

Previous guidance for 2023: (published on February 15, 2024):

Raute's 2024 net sales are expected to be between EUR 170 - 195 million and comparable EBITDA to be between EUR 10 - 14 million.

Rationale for the new guidance:

Raute's strong order backlog has supported the positive business development despite the continued challenging market environment. Raute's project deliveries and services business have progressed better than anticipated, which has led to positive net sales and profit development during the second quarter. Therefore, Raute raises its guidance for both net sales and profit for the full year. 

RAUTE CORPORATION
Mika Saariaho
President and CEO

FURTHER INFORMATION:

Mika Saariaho, President and CEO, tel. +358401549393

DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com

RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.

Shareholders Date % of Shares % of Votes
Sundholm Göran Wilhelm 31.12.2024 12.4% 12.4%
Laakkonen Mikko Kalervo 31.12.2024 3.7% 3.7%
eQ Finland Investment Fund 31.12.2024 2.2% 2.2%
Mandatum Life Insurance Company Ltd. 31.12.2024 2.2% 2.2%
Stephen Industries Inc Oy 31.12.2024 2.1% 2.1%
Suominen Pekka Matias 31.12.2024 1.9% 1.9%
Siivonen Osku Pekka 31.12.2024 1.8% 1.8%
Keskiaho Kaija Leena 31.12.2024 1.7% 1.7%
Kirmo Kaisa Marketta 31.12.2024 1.7% 1.7%
Mustakallio Mika Tapani 31.12.2024 1.7% 1.7%

Equity Research Disclaimer

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Company Facts

CEO Mika Saariaho
CFO Ville Halttunen
Market cap (EURm) 91
Industry Machinery
Ticker RAUTE

Guidance

Raute’s 2025 revenue is expected to be between EUR 190-220m and comparable EBITDA in the range of EUR 17-24m

Financial targets

Net sales of EUR 250m (including both organic and inorganic growth) for 2028, Services and Analyzers relative share of net sales 40%, comparable EBITDA margin 12% on average over cycle

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