RAUTE CORPORATION FINANCIAL STATEMENTS RELEASE
RAUTE CORPORATION FINANCIAL STATEMENTS RELEASE
This is a summary of Raute's Financial statements release
October-
- Order intake was
EUR 118 million (28) -
Order book was
EUR 266 million (84) at the end of the reporting period -
Net sales were
EUR 45.2 million (45.7) -
Comparable EBITDA was
EUR 2.7 million (2.7), representing 5.9% (5.8) of net sales -
Operating profit was
EUR 0.7 million (0.5) -
Earnings per share were
EUR 0.09 (0.32) - Equity ratio was 50.2% (36.6)
January-
- Order intake was
EUR 315 million (138) -
Net sales ware
EUR 145.4 million (158.3) -
Comparable EBITDA was
EUR 9.3 million (-2.3), representing 6.4% (-1.4) of net sales -
Operating profit was
EUR 1.9 million (-14.6) -
Earnings per share were
EUR 0.22 (-2.56) -
The Board of Directors' dividend proposal is
EUR 0.10 per share.
Guidance statement for 2024:
Raute's 2024 net sales are expected to be between
The Board's dividend proposal:
The Board of Directors of
| 1.10.-31.12. | 1.10.-31.12. | 1.1.-31.12. | 1.1.-31.12. |
2023 | 2022 | 2023 | 2022 | |
Net sales, MEUR | 45.2 | 45.7 | 145.4 | 158.3 |
Change in net sales, % | -1.1 | 3.6 | -8.2 | 11.3 |
Exported portion of net sales, % | 91.2 | 87.0 | 91.0 | 89.6 |
Comparable EBITDA ME | 2.7 | 2.7 | 9.3 | -2.3 |
Comparable EBITDA % | 5.9 | 5.8 | 6.4 | -1.4 |
Operating profit, MEUR | 0.7 | 0.5 | 1.9 | -14.6 |
Operating profit, % of net sales | 1.5 | 1.3 | 1.3 | -9.2 |
Profit before taxes, MEUR | 0.5 | 1.3 | 1.8 | -13.8 |
Profit before taxes, % of net sales | 1.2 | 2.9 | 1.2 | -8.7 |
Profit for the period, MEUR | 0.7 | 1.4 | 1.4 | -11.5 |
Profit for the period, % of net sales | 1.5 | 3.1 | 0.9 | -7.3 |
|
|
|
|
|
Gross capital expenditure, MEUR | 1.1 | 0.9 | 4.5 | 6.6 |
% of net sales | 2.4 | 2.0 | 3.1 | 4.2 |
|
|
|
|
|
Research and development costs, MEUR | 1.4 | 1.8 | 5.2 | 6.3 |
% of net sales | 3.1 | 3.9 | 3.6 | 4.0 |
|
|
|
|
|
Order book, MEUR | 266 | 84 | 266 | 84 |
Order intake, MEUR | 118 | 28 | 315 | 138 |
|
|
|
|
|
Personnel, at the end of the period |
|
| 754 | 778 |
Personnel, effective, on average |
|
| 749 | 774 |
Personnel, on average |
|
| 754 | 829 |
In 2023, Raute had a record-high order intake and order book in a challenging market environment. This great achievement underlines our position as a leading end-to-end partner in veneer, plywood and LVL production technologies. In 2023, we received four mill-sized orders in total and proceeded with the delivery of our first line to the solid wood production segment. Comparable EBITDA reached
In the fourth quarter, comparable EBITDA was
Order intake in the fourth quarter reached a record-high
In the fourth quarter net sales amounted to
Our new ERP system is now operational at our main unit in Nastola, and we have moved to a continuous development phase. The new ERP system is expected to bring improved efficiency in the coming years.
The fundamental demand for Raute's solutions excluding mill-sized projects remained at a reasonable level in 2023, even though the short-term market uncertainty has increased, impacting the demand for single production lines and spare parts. We have a strong position in complete mill-sized projects and there is continuous customer interest in these solutions over the business cycle, driven by sustainability needs.
The profitability improvement program was concluded as planned and we achieved the previously announced annual cost savings of
We will continue to implement our growth strategy with determination, including driving our ESG agenda and expanding our portfolio into new engineered wood product segments. We have also made changes to our Executive Board to ensure a strong focus on the deliveries of large projects and to boost our offering across businesses.
Our record high order book puts Raute in a good position to further develop our business and drive our growth strategy forward. I am confident that together with the Executive Board and our dedicated and skilled personnel we have a good year ahead of us.
BUSINESS ENVIRONMENT
Market situation in customer industries
The market remained uncertain in 2023. While inflation stabilized and slowed down during the year, increased interest rates and overall uncertainty in the global economy impacted on the market outlook, which was reflected in the demand for Raute's customers' products. The raw material availability started to limit customers' production volumes, especially due to the lack of Russian birch logs, which used to be an important raw material source before 2022. However, the fundamental demand for Raute's solutions was still at a reasonable level.
The slowdown of the construction market and elevated uncertainty in the global economy reduced the demand for softwood plywood, especially in the European and North American markets, and from the second half of the year onwards, also for hardwood plywood. Customer activity and interest in Raute's technology for mill-sized projects, modernizations and after-sales services have remained high. This trend is supported by customers' long-term capacity planning horizon, regardless of the current market situation. However, the demand for individual product lines slowed down, and the market slowdown was also visible in the demand for spare parts. During 2023, Raute received four major mill-sized orders worth about
The activity level of Raute's customers varied depending on the geographical location. The demand for other than mill-sized projects was modest in
Customers' declining production volumes have impacted on the demand for spare parts. Also, demand for single-machine replacements or enhancements was low.
Order intake and order book
The order intake in 2023 amounted to
The order intake is composed of 65% (47%) from
Net sales
Net sales in 2023 totaled
Sales increased by 37.7% in Analyzers, while decreased 14.5% in Wood Processing and 7.7% in Services. Net sales included
Result and profitability
Comparable EBITDA was
Comparable EBITDA improved in Analyzers and Wood Processing, while declined in Services.
EBITDA was
The operating profit was
The result before taxes was
BOARD OF DIRECTORS' PROPOSAL CONCERNING PROFIT DISTRIBUTION
On
The Board of Directors proposes to the Annual General Meeting, to be held on
GUIDANCE STATEMENT FOR 2024
Raute's 2024 net sales are expected to be between
RAUTE CORPORATION
Board of Directors
BRIEFING ON
A briefing will be organized for analysts, investors and the media on
FINANCIAL CALENDAR IN 2024
Raute will publish financial results in 2024 as follows:
- Interim report January - March on
Friday May 3, 2024 -
Half-year financial report January - June on
Thursday August 8, 2024 -
Interim report January - September on
Thursday October 31, 2024 .
Raute will publish the financial statements 2023 during week 8.
The annual report 2023 will be published on the company's website at www.raute.com no later than in the week beginning on
The Annual General Meeting is planned to be held in Lahti on
FURTHER INFORMATION:
Mr.
Mr.
DISTRIBUTION:
RAUTE IN BRIEF:
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
https://news.cision.com/raute-oyj/r/raute-corporation-financial-statements-release-january-1-december-31--2023,c3929165
https://mb.cision.com/Main/20085/3929165/2606532.pdf
(c) 2024 Cision. All rights reserved., source