Raute Corporation's 1Q 2021 net sales of Euro 24.8 million, increased 4% on the 1Q 2020. The low level of net sales was predicted and was largely due to the planned timing of the order book, but also partly to the impacts of the pandemic-related restrictions on field operations.
Of the net sales for the 1Q, Russia accounted for 59%, Europe for 18%, North America for 14%, South America for 6%, and Asia-Pacific for 3%.
1Q 20201 operating profit was Euro 2.5 million negative and accounted for -10.1% of net sales. Operating profit grew 17%, mainly due to the growth in net sales.
The result before taxes for the reporting period was Euro 2.5 million negative. The result for the reporting period was Euro 2.5 million negative. Undiluted earnings per share were Euro -0.58.
Despite a slight improvement, the continuing market uncertainty was reflected in the volume of new orders Raute has received. The 1Q 2021 order intake amounted to Euro 30 million, compared to Euro 25 million in the 1Q 2020.
Order intake in technology services amounted to Euro 19 million, up 83% on the comparison period thanks to the modernization orders. The order book increased during the 1Q 2021 by Euro 4 million. The order book at the end of the reporting period remained strong at Euro 98 million. The majority of the order book is scheduled for 2021 and a small portion already for 2022
Tapany Kiiski, President and CEO, says: “In the 1Q 2021, our net sales were only slightly higher than they were in the comparison period. Although the result improved somewhat in relation to net sales, it was nevertheless negative. As we predicted, the timing of our confirmed order book did not increase net sales in the first quarter in a way that would have boosted our result to an acceptable level.”
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.
