Raute Oyj

Raute Corporation reported strong profitability in the third quarter of 2024, with net sales increasing by 36.2% to EUR 46.4 million and a record comparable EBITDA of EUR 6.3 million, achieving a margin of 13.5%. Despite a challenging market environment and modest order intake, the company maintained a solid order book, nearly at last year's level. The Services business performed well, while Wood Processing and Analyzers faced difficulties. Raute adjusted its guidance for 2024, expecting net sales between EUR 190–210 million and comparable EBITDA between EUR 17–21 million, due to a strong order backlog and better-than-anticipated project deliveries. The global demand for Raute's end-user products remained low due to a downturn in the construction markets, impacting softwood plywood demand. However, demand for hardwood plywood and LVL remained stable, with niche markets strengthening birch plywood demand. Raute's growth strategy focuses on enhancing operational efficiency, project delivery, and digitalization to capture future opportunities. A briefing for analysts, investors, and media is scheduled for October 31, 2024. Raute is a leader in plywood and LVL industries, with a global presence and a focus on innovative solutions for the wood industry.

Raute Corporation will release its Q3 2024 interim report for the period of January 1 to September 30 on October 31, 2024, at around 9:00 a.m. EEST. A result briefing for analysts, investors, and media will be held on the same day from 2:00 to 3:00 p.m. EEST at the Scandic Simonkenttä Hotel in Helsinki and can also be accessed online via Teams. Interested participants should register by October 29, 2024. The briefing will feature Raute's President and CEO Mika Saariaho and CFO Ville Halttunen, and will cover the Q3 2024 results and the outlook for the year. A recording of the briefing will be available on Raute's website by November 4, 2024. Raute, a leader in the plywood and LVL industries, focuses on innovative solutions for the wood industry, with its main office in Lahti, Finland, and other facilities in Finland, Canada, China, and the USA. In 2023, Raute's net sales were EUR 145.4 million, with a workforce of 754. More information is available at www.raute.com.

Raute Corporation has issued a positive profit warning, updating its financial guidance for 2024. The company now expects net sales to be between EUR 190–210 million and comparable EBITDA to be between EUR 17–21 million. This is an increase from the previous guidance of net sales between EUR 185–210 million and EBITDA between EUR 13–17 million. The revision is attributed to a strong order backlog and better-than-expected progress in project deliveries and services, despite challenging market conditions. Raute is a global leader in the wood industry, providing technologies and services for engineered wood products, with its main operations based in Finland and additional facilities in Canada, China, and the USA. Raute's net sales in 2023 were EUR 145.4 million, with 754 employees.

Raute Corporation announced the composition of its Shareholders' Nomination Board as of 3 September 2024. The Chairperson of the Board of Directors requested the three largest shareholders to appoint members to the Nomination Board based on the situation on the last business day of August 2024. The third, fourth, and fifth largest shareholders declined to nominate a member. The appointed members are Pekka Suominen, Göran Sundholm, and Kustaa Poutiainen (appointed by Stephen Industries Inc.). Laura Raitio, the Chair of the Board of Directors of Raute, will serve as an expert without being a member. The term of the current members ends in 2025. The charter of the Nomination Board is available online. For further information, contact Ville Halttunen, CFO. Raute Corporation is a global leader in the wood industry, specializing in technologies and services for engineered wood products. The company is headquartered in Lahti, Finland, with additional production plants in Finland, Canada, China, and the USA. In 2023, Raute's net sales were EUR 145.4 million, and the company had 754 employees. More information can be found on their website.

Raute Corporation announced that its fully owned subsidiary, Hiottu Oy, will be merged into Raute Corporation, with the merger expected to occur on December 31, 2024. Raute acquired 80% of Hiottu Oy in 2020 and the remaining 20% in 2023. Hiottu Oy has provided significant expertise in digitalization, particularly in machine vision and AI solutions. The merger aims to simplify the Group's structure and enhance business efficiency. Raute Corporation specializes in technologies and services for the wood industry, with operations in Finland, Canada, China, and the USA. In 2023, Raute’s net sales were EUR 145.4 million, and it employed 754 people.