About us
Investors
Raute aims to ensure competitive returns for its investors. From the investor section you find Raute’s financial information as well as information about shares, investor relations, Raute’s governance and Raute as an investment.
Sustainability
We want to lead the industry towards a more sustainable future in engineered wood products.
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Lines & Machines
Lines
There is always a "fit-to-your-need" line from Raute's own offering for any and all production processes starting from log handling, running through veneer production to plywood, LVL, or solid wood panels.
Machines
The core of production lines is made of machines. Many of Raute’s machines can be installed into existing lines as modernizations, also to other brand but Raute lines.
Analyzers
Making the most out of your raw material is made possible by modern analyzing systems. Intelligent analyzers make the right decisions at right time. Raute offers a wide variety of different types of analyzers for veneer, plywood, LVL, and lumber production.
Future-proof your mill.
Raute offers services worldwide to maintain existing veneer, plywood, and LVL production machinery and to improve the production.
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
January−December 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.
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
2023
1.1.–31.12.
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
1.2
7.4
Profit for the period, MEUR
3.0
12.1
1.4
Profit for the period, % of net sales
5.2
0.9
Gross capital expenditure, MEUR
1.1
2.8
4.5
% of net sales
2.3
2.4
3.1
Research and development costs, MEUR
5.3
2.6
3.6
Order book, MEUR
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
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 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 [email protected]. 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:
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.
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