Tuesday, October 25, 2022
|
Listen to this news
|
Raute Corporation released its interim financial report for January 1 to September 30, 2022. The third quarter saw a continuation of strong demand. Demand in EMEA is favourable, and clients keep working to expand their capacity to cover the void left by missing imports into the region. Additionally, this has sparked fresh interest in Raute’s products among clients and nations with low prior engagement.
Raute is operating business in a new climate after a very challenging first half of the year by utilising the persistently strong market demand. The planned actions for a managed wind-down of the remaining operations in Russia are ongoing at the same time. Additionally, North America has seen particularly robust market activity. In Latin America, where raw materials are readily available, continues to be positive. Following the prolonged Covid-19-related depression, activity in Asian markets including in China is still recovering.
Orders total 110 million euros in 2022, with 35 million euros in the third quarter. The net amount includes EUR 2.4 million in orders from Russia that were received at the beginning of the year, but no new mill size projects have been received in 2022. Orders are still being received at a decent rate, which gives hope that the new market environment will provide enough volume to fill the manufacturing capacity. The loss of mill size orders has been made up for by an increase in mid-sized single production line orders and technological services throughout the course of the year. At the end of September, the order book was worth EUR 94 million. The ongoing order book, excluding Russia, is at the same level as in Q2 and stands at EUR 88 million.
July–September 2022
Read more news on Raute
Tags: EMEA, north america, Raute, third quarter results, woodworking and manufacturing, woodworking event, woodworking industry, woodworking UK
Comments: