Raute’s 2Q net sales decreased to Euro 37 million

Raute’s total order intake in the 2Q 2019, Euro 26 million, was at a good level, considering the market situation and bearing in mind that it did not include major individual new production capacity projects. The order book declined during the 2Q 2019 by Euro 12 million, but nevertheless ended the period at a strong Euro 72 million, as the company said in its press release.

2Q 2019 net sales amounted to Euro 37 million, compared to Euro 43.7 million in the 2Q 2018. Technology services accounted for 51 per cent of the total net sales and amounted to Euro 19 million.

Operating profit in the 2Q 2019 was Euro 2.3 million positive and accounted for 6.3 per cent of net sales.

Net sales for January-June 2019 totalled Euro 78.3 million, down 0.8 per cent from the comparison period. Of the total net sales for the reporting period, Europe accounted for 44 per cent, Russia for 26 per cent, North America for 16 per cent, South America for 8 per cent, and Asia-Pacific for 6 per cent.

During the first six months of this year, operating profit was Euro 4.9 million positive and accounted for 6.3 per cent. The decline in profitability can be attributed to investments in future operations and the extra costs of a few delayed projects.

Tapani Kiiski, President and CEO, said: “In the first six months of the year, we kept pace with last year in terms of net sales. We fell short of our targets, however, which was caused by the scheduling of orders and the postponement of a few expected new orders.”

Raute is a technology and service company that operates worldwide.