Inside information: Profit warning, Raute updates its guidance regarding net sales and profitability

 Raute Corporation, Inside information, October 19, 2023 at 9:00

Inside information: Profit warning, Raute updates its guidance regarding net sales and profitability

Raute updates its guidance regarding net sales and profitability.

New guidance for 2023:
Raute’s 2023 net sales are expected to be in the range of EUR 140–150 million and Comparable EBITDA margin to be above 6%.

Previous guidance for 2023: (published on April 25, 2023, reiterated on August 25, 2023):
Raute’s 2023 net sales are expected to be above EUR 150 million and Comparable EBITDA margin to be above 4%.

Rationale for the new guidance:
Raute's profit improvement program has progressed well, and comparable EBITDA has developed positively during 2023. The high order backlog also supports business development.

Raute's net sales have developed somewhat slower than the company has expected. As the structure of the order backlog is weighted towards mill-sized delivery projects, revenue recognition takes place later than in equipment deliveries and service business. The implementation of the ERP system has also caused slowness, but the learning curve is constantly improving.

Raute will publish its interim report for January-September 2023 on Thursday, October 26, 2023.  

RAUTE CORPORATION
Mika Saariaho
President and CEO

FURTHER INFORMATION:

Mika Saariaho, President and CEO, tel. +358 40 154 9393
 

DISTRIBUTION:
Nasdaq Helsinki Ltd, principal 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 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 is 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 2022 were EUR 158.3 million. The Group’s headcount at the end of 2022 was 778. More information about the company can be found at www.raute.com.