3Q net sales amounted to Euro 24.7 million. Net sales increased 21% from the 2Q as a result of the scheduling of the order book.
Net sales for the 3Q remained lower than expected due to the full revenue recognition of two mill-scale projects being postponed.
Operating profit for the 3Q was Euro 0.3 million positive and accounted for 1% of net sales. The profit was Euro 0.3 million positive. Earnings per share were Euro 0.06.
Tapani Kiiski, President and CEO said: “Our order intake in the 3Q was at a reasonable level, considering the general economic situation. We received a follow-up order to the transaction announced in June regarding the delivery of machinery for a new softwood plywood mill in Poland, increasing the order’s total value to Euro 15 million. In technology services, spare parts sales increased nearly 60% over the 3Q 2013. This is an indication of the good utilization levels of our customers. Investment needs have been accumulating, and there are several major projects in the planning phase. I believe that despite the uncertain economic situation, our order intake will remain at least at a reasonable level in the coming months.”
During January 1 – September 30, 2014, order intake, Euro 89 million, was more than double that of the comparison period. The 3Q accounted for Euro 22 million of the order intake.
Net sales for the first nine month of 2014 totaled Euro 60 million, up 2% on the comparison period.
Operating profit for the reporting period was Euro 1 million negative and accounted for -2% of net sales. The negative operating profit was due to unforeseen additional costs relating to a delivery where proven technology is applied to a new raw material, and to budgeted costs exceeding the estimate in a pilot project that includes new technology.
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).
