Financial information

CEO's comments on the Financial statements release January 1–December 31, 2024, published February 13, 2025

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.

Mika Saariaho
President and CEO