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Positive Developments continue at Raute

 Wednesday, July 29, 2015

rauteRaute Corporation has recently published the interim report. Tapani Kiiski, President and CEO remarks, “The order intake in the second quarter, EUR 31 million, remained at a good level. According to my assessment, however, there has been no clear growth in total demand for wood products technology and services market. What we are looking at is a partial unravelling of the built-up investment backlog, i.e. investment debt. Not to say that there hasn’t been tentative positive development. Europe was still our most active market area. Some medium-sized projects are also moving forward in Russia, so despite a challenging economic and political situation, we see opportunities there also. I believe our order intake will remain at a reasonable level in the near future, however, growth will slow down compared to the first half of the year.”

 

 

The highlights of the report are as follows:

– The Group’s net sales, EUR 56.4 million (MEUR 35.3), increased 59% on the comparison period. Order intake was EUR 115 million (MEUR 67).
– Operating profit was EUR 3.4 million (MEUR -1.3). The result before taxes was EUR 3.5 million (MEUR -1.3).
– Earnings per share were EUR 0.70 (EUR -0.27).
– Positive development continued in the second quarter. Net sales were EUR 31.8 million and operating profit was EUR 2.2 million positive. Order intake was EUR 31 million. The order book at the end of the reporting period amounted to EUR 100 million.
– The outlook for financial performance remains unchanged. Raute’s net sales are expected to grow clearly in 2015 and operating profit is anticipated to improve clearly from 2014.

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