Raute to book provisions for write-offs related to Russian business, strengthen its performance improvement program, and issue new guidance
RAUTE CORPORATION INSIDE INFORMATION 22 JUNE 2022 at 9:00 a.m. RAUTE TO BOOK PROVISIONS FOR WRITE-OFFS RELATED TO RUSSIAN BUSINESS, STRENGTHEN ITS PERFORMANCE IMPROVEMENT PROGRAM, AND ISSUE NEW GUIDANCE As previously reported, Raute’s order book for 2022 included a significant amount from projects in Russia. Since the end of February Raute has not made any new agreements with Russian operators and the Russian business is gradually scaling down, in accordance with sanctions and local laws and regulations in both countries. Raute has analyzed the prerequisites for