Posted November 23, 2017
Raute's 3Q 2017 net sales amounted to nearly record-high Euro 37.2 million, compared to Euro 23.4 million in 3Q 2016, as the company said in the press release received by Lesprom Network.
Operating profit in the 3Q was Euro 4.2 million positive and accounted for 11.2% of net sales. The result was Euro 3.4 million positive, and earnings per share (undiluted) were Euro +0.81. The quarter’s profitability was impacted by nearly record-high net sales, the relatively lower general costs in the period, successful project implementation and the results of our operational development projects.
Tapani Kiiski, President and CEO, said: “The growth in net sales in the 3Q met our target. That helped for its part to raise our profitability to an excellent level. We are well on our way to proving our prediction that our relative profitability will improve in the second half of the year. Our order book is strong, and we have a significant amount in the orders for the year 2018 and some also for the year 2019.”
In January-September 2017, net sales of Euro 109 million, were up 41% on the comparison period. In January-September 2017, operating profit was Euro 8.3 million positive and accounted for 7.6% of net sales. Operating profit grew 94% on the comparison period.
The result before taxes for the reporting period was Euro 8.3 million positive. The result for the reporting period was Euro 6.4 million positive. Earnings per share (undiluted) were Euro 1.52.
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.