Raute’s 1Q 2018 net sales, Euro 35.3 million, declined 4% on the 1Q 2017. Of the total net sales for the 1Q, Europe accounted for 54%, Russia for 22%, North America for 16%, South America for 5%, and Asia-Pacific for 3%, as the company said in the press release received by Lesprom Network.
Operating profit was Euro 2.8 million positive and accounted for 7.8% of net sales. The result before taxes for the 1Q was Euro 2.9 million positive. Earnings per share (undiluted) were Euro 0.53.
President and CEO Tapani Kiiski said: “The start of the year was in line with our expectations. Net sales in the 1Q fell slightly short of the result of the comparison period, due to the scheduling of the order book, but operating profit improved somewhat. Even larger variations between quarters are the norm for Raute’s business, and we expect to see the same this year, too.”
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.
