Raute's 2Q 2016 net sales amounted to Euro 27.3 million, compared to Euro 31.8 million in 2Q 2015, as the company said in the press release received by Lesprom Network.
Operating profit in the 2Q was Euro 1.5 million positive and accounted for 6% of net sales. The result was Euro 1.2 million positive, and earnings per share were Euro +0.29.
Tapani Kiiski, President and CEO, said: “In the 2Q, our net sales and operating profit continued to develop as predicted. They corresponded with our order book and order intake. We have every reason to be satisfied with the implementation of projects. There were no surprises.
“The economic situation and demand continued at the same level as in previous quarters. According to my assessment, demand has remained relatively good among our customers. A clear indication of this is the level of activity in our spare parts sales. The exceptional market situation that I already presented in our 1Q report has, however, continued. Many of our customers are actively planning even major investments. The level of activity with regard to quotations and negotiations is exceptionally high. Despite this, very few new investment projects are being started up. The volume of order intake was a clear disappointment to us, also in the 2Q.”
Net sales for 1H 2016, Euro 53.7 million, fell 5% on the comparison of 1H 2015.
Operating profit for the 1H 2016 was Euro 2.9 million positive and accounted for 5% of net sales. Other operating income for the reporting period includes project-business-related insurance compensation of Euro 0.9 million received in the 1Q. The result before taxes for the reporting period was Euro 2.8 million positive. The result for the reporting period was Euro 2.1 million positive. Earnings per share (undiluted) were Euro 0.51.
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 and LVL (Laminated Veneer Lumber).
