Raute Oyj

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.

Raute Corporation's half-year financial report for January 1 to June 30, 2024, highlights record quarterly net sales and strong profitability. Key figures for April-June 2024 include EUR 20 million in order intake, EUR 223 million in order book, EUR 57.1 million in net sales, and a comparable EBITDA of EUR 5.4 million. For January-June 2024, order intake was EUR 56 million, net sales were EUR 101.7 million, and comparable EBITDA was EUR 8.4 million. President and CEO Mika Saariaho noted solid progress in project deliveries and services, achieving all-time high net sales and good profitability. Despite a challenging market environment, the strong order book provides a buffer. The Wood Processing business and Services business performed well, with the Analyzers business returning to profit. Raute is well-positioned to continue its growth strategy, leveraging digitalization and sustainability opportunities. The business environment showed signs of stabilizing demand for wood products, though pricing pressures and economic uncertainties persist. Raute's customers are focusing on production efficiency and strategic investments. A notable highlight was a EUR 20 million order for veneer mill machinery from AmberBirch in Latvia. Raute updated its 2024 guidance, expecting net sales of EUR 185–210 million and comparable EBITDA of EUR 13–17 million, citing a strong order backlog and better-than-anticipated business progress. A briefing for analysts, investors, and media is scheduled for August 8, 2024, at 2:00 p.m. in Helsinki, Finland, with an online option available. The next interim report will be published on October 31, 2024. Raute's 2023 net sales were EUR 145.4 million, with a headcount of 754. More information is available on Raute's website.

Raute Corporation held its Annual General Meeting (AGM) on 4 April 2024, where it adopted the Financial Statements and approved the Remuneration Report and Policy for Governing Bodies. The AGM also discharged the Board of Directors and the CEO from liability for the 2023 financial year. A dividend of EUR 0.10 per share will be distributed for the financial year 2023, to be paid on 18 April 2024. The AGM decided to keep the Board of Directors at seven members and elected Laura Raitio as the Chair and Joni Bask as the Vice-Chair. PricewaterhouseCoopers was elected as the company's auditor and sustainability auditor. The AGM also authorized the Board to repurchase a maximum of 600,000 of Raute Corporation’s shares and to issue a maximum of 600,000 shares. The minutes of the AGM will be available on Raute Corporation's website by 18 April 2024.