Inside information: Positive profit warning – Raute updates its guidance regarding net sales and profit
Raute Corporation, Inside information June 19, 2024, at 08:30 EEST
Inside information: Positive profit warning – Raute updates its guidance regarding net sales and profit
Raute updates its guidance regarding net sales and profit.
New guidance for 2024:
Raute’s 2024 net sales are expected to be between EUR 185 - 210 million and comparable EBITDA to be between EUR 13 – 17 million.
Previous guidance for 2023: (published on February 15, 2024):
Raute’s 2024 net sales are expected to be between EUR 170 - 195 million and comparable EBITDA to be between EUR 10 – 14 million.
Rationale for the new guidance:
Raute’s strong order backlog has supported the positive business development despite the continued challenging market environment. Raute's project deliveries and services business have progressed better than anticipated, which has led to positive net sales and profit development during the second quarter. Therefore, Raute raises its guidance for both net sales and profit for the full year.
RAUTE CORPORATION
Mika Saariaho
President and CEO
FURTHER INFORMATION:
Mika Saariaho, President and CEO, tel. +358 40 154 9393
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 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 2023 were EUR 145.4 million. The Group’s headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
