Operating profit in the 4Q was Euro 3.6 million positive and accounted for 11% of net sales. The result was Euro 3.2 million positive, and earnings per share were Euro 0.80. Profitability improved in comparison with the previous quarters, which mainly resulted from increased net sales.
The order book weakened during the fourth quarter by Euro 12 million, amounting to Euro 44 million at the end of 2014.
The Group’s net sales amounted to Euro 94 million in 2014. Net sales grew by 13% on 2013. The increase resulted from the high order intake particularly in project deliveries and from the scheduling of our order book.
Net sales were generated by project deliveries related to the wood products technology business and by technology services.
Net sales for project deliveries totaled Euro 58 million, up 12% from the previous year. Project deliveries accounted for 62% of total net sales. The plywood industry’s share of the net sales of project deliveries was 75%, while the LVL industry’s share was 25%.
The Group’s operating profit for 2014 was Euro 2.6 million positive and accounted for 3% of net sales. The profit developed primarily during the latter half of the year due to the order intake and timing of the order book. The 4Q accounted for a record Euro 34 million of net sales and operating profit for Euro 3.6 million.
The operating profit improved 43% on the previous year as a result of an increase in net sales. However, the Group failed to reach the profitability level in line with the actual net sales.
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).