Finland’s Raute enjoys EUR37.2 Mn net sales in 3Q

Raute Dragon Peel

Raute’s net sales in the third quarter amounted to EUR37.2 Mn, a record-high, compared to EUR23.4 Mn the same period in 2016 before.

Operating profit was EUR4.2 Mn and accounted for 11.2 per cent of net sales. The result was EUR3.4 Mn positive, and earnings per share (undiluted) were EUR +0.81. The quarter’s profitability was impacted by nearly record-high net sales, the relatively lower general costs in the period, successful project implementation and operational development projects.

Tapani Kiiski, President and CEO, said, “We are well on our way to proving our prediction that our relative profitability will improve in the second half of the year. Our order book is strong, and we have a significant amount in the orders for the year 2018 and some also for the year 2019.”

As of end Sep 30, net sales of EUR109 Mn, were up 41 per cent on the comparison period. Operating profit was EUR8.3 Mn positive and accounted for 7.6 per cent of net sales. Operating profit grew 94 per cent on the comparison period.

The result before taxes for the reporting period was EUR8.3 Mn positive. The result for the reporting period was EUR6.4 Mn positive. Earnings per share (undiluted) were EUR1.52.

Raute is a technology and service company that provides equipment for the veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber industry.