RAUTE CORPORATION, INTERIM REPORT,
This is a summary of Raute's Interim financial report
RAUTE CORPORATION - INTERIM REPORT
January−
- Order intake was
- Order book was
- Net sales were
- Comparable EBITDA was
- Operating profit was
- Earnings per share were
- Equity ratio was 49.7% (41.4)
1.1.- |
1.1.- |
1.1. - | |
Net sales, MEUR | 44.7 | 36.8 | 145.4 |
Change in net sales, % | 21.4 | -4.5 | -8.2 |
Comparable EBITDA, MEUR | 3.0 | 2.8 | 9.3 |
Comparable EBITDA, % | 6.7 | 7.7 | 6.4 |
Operating profit, MEUR | 1.5 | 0.9 | 1.9 |
Operating profit, % of net sales | 3.3 | 2.3 | 1.3 |
Profit for the period, MEUR | 1.3 | 0.8 | 1.4 |
Profit for the period, % of net sales | 2.8 | 2.2 | 0.9 |
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Gross capital expenditure, MEUR | 0.4 | 0.9 | 4.5 |
% of net sales | 0.9 | 2.4 | 3.1 |
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Research and development costs, MEUR | 1.4 | 1.3 | 5.2 |
% of net sales | 3.2 | 3.5 | 3.6 |
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Order book, MEUR | 259 | 121 | 266 |
Order intake, MEUR | 36 | 67 | 315 |
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Personnel, at the end of the period | 775 | 733 | 754 |
Personnel, effective, on average | 772 | 707 | 749 |
Personnel, on average | 770 | 751 | 754 |
President and CEO
We had a good start to the year with solid progress in project deliveries supported by our all-time high order book. However, the market environment remained uncertain as many of our customers were in a wait-and-see mode in relation to making firm investment decisions.
In the first quarter, comparable EBITDA developed in line with our expectations and was
I am particularly pleased with the performance of the Services business unit, where we have also developed a concept for performance-based maintenance offering. In the first quarter, we announced an agreement with
The Wood Processing business also improved its performance by making good progress in the project deliveries of the mill-sized orders won last year. Meanwhile, Analyzers had a disappointing quarter due to the timing and delays of some deliveries. On the Group level, our costs were at a more normalized level after being elevated in the last quarter of 2023.
The political strikes in
Order intake in the first quarter was rather modest, excluding the mill-sized order received from
Given our nearly record-high order book, we are in a good position to continue implementing Raute's growth strategy. We believe that Raute has a unique opportunity to capture new business opportunities in engineered wood product segments by combining our offering into innovative production solutions, powered by data and digital tools. In line with our newly announced values, we aim to Show the Way - Drive Change for positive development in our industry together with our customers. We will do this together as one team with our dedicated and skilled personnel.
BUSINESS ENVIRONMENT
The market uncertainty continued in January-
While inflation has stabilized, the high interest rates and the overall economic uncertainty have slowed down the demand for the traditional end-product consuming industries such as construction and commercial vehicle production. Also, illegal Russian birch plywood with clearly lower prices entering the European market despite the sanctions affects the European birch plywood producers.
The impact of the lower end-product demand is clearly visible in Raute's customers' investment activity, which is mainly focusing on keeping the existing production facilities running. While this supports Raute's after-sales business, it clearly has a negative impact on the demand for new production lines and modernizations.
The highlight of the first quarter for Raute was the
GUIDANCE STATEMENT FOR 2024
Raute reiterates its guidance statement for 2024. Raute's 2024 net sales are expected to be between
RAUTE CORPORATION
Board of Directors
BRIEFING
A briefing is organized for analysts, investors, and the media on
NEXT INTERIM REPORT:
FURTHER INFORMATION:
Mr.
Mr.
DISTRIBUTION:
RAUTE IN BRIEF - Making
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
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