Raute's net sales for the 1H 2017, Euro 71.8 million, were up 34%, compared to 1H 2016, as the company said in the press release received by Lesprom Network.
During the 1H 2017, operating profit was Euro 4.1 million positive and accounted for 5.7% of net sales. Operating profit grew 41% on the comparison period.
The result before taxes for the 1H 2017 was Euro 4.2 million positive. The result for the reporting period was Euro 3 million positive. Earnings per share (undiluted) were Euro 0.71.
2Q net sales amounted to Euro 35.2 million, compared to Euro 27.3 million. Operating profit in the 2Q was Euro 1.4 million positive and accounted for 4% of net sales.
2Q profitability was influenced by investments in the start-up of the new Metriguard business, additional investments aimed at the Chinese market, and investments in sales and marketing.
Tapani Kiiski, President and CEO, said: “We can continue to be pleased with our performance throughout the first half of the year, in terms of both net sales growth and improving our operating profit. Both were in line with our expectations.
“Our order intake, at Euro 29 million in the 2Q, was at a good level, bearing in mind that it did not include any major individual projects. Following a quieter period, demand for modernizations also picked up. In terms of new orders, the European market is still exceptionally strong, but projects are also being actively negotiated in North America, Asia and Russia, to name a few. I estimate that in the near future, other market areas will complement the demand in Europe.”
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber.
