Raute reports 4Q operating profit of Euro 3.1 million
Feb 12, 2013. Raute Corporation's 4Q net sales were in line with the timing of the order book, equaling a record Euro 33.9 million. Operating profit for the 4Q was Euro 3.1 million positive and accounted for 9 % of net sales. The result was Euro 2 million positive, and earnings per share were Euro +0.50. The Group’s operating profit for 2012 was Euro 5 million positive and accounted for 5% of net sales.
Feb 12, 2013. /Lesprom Network/. Raute Corporation's order intake in the 4Q remained at a low level, amounting to Euro 12 million. Technology services accounted for Euro 8 million of the order intake. The order book weakened during the 4Q by Euro 22 million, amounting to Euro 50 million at the end of 2012, as the company said in a press release received by Lesprom Network.
4Q net sales were in line with the timing of the order book, equaling a record Euro 33.9 million. Technology services accounted for 28 % of net sales.
Operating profit for the 4Q was Euro 3.1 million positive and accounted for 9 % of net sales. The result was Euro 2 million positive, and earnings per share were Euro +0.50.
The Group’s full year 2012 net sales were Euro 101.3 million. Net sales grew by 36% on 2011. The growth in net sales was boosted by large individual orders. A large proportion of the net sales were generated during the 3Q and 4Q.
The Group’s operating profit for 2012 was Euro 5 million positive and accounted for 5% of net sales. The profitability of operations improved from the previous year due to the growth in net sales and a lighter cost structure resulting from earlier operational reorganization measures.
The Group’s financial income and expenses totaled Euro -0.3 million. The Group’s result before tax was Euro 4.8 million positive and the result for the financial year was Euro 3 million positive. The Group’s comprehensive income totaled Euro 3.1 million positive.
Tapani Kiiski, President and CEO, said: “In 2012, we operated in a highly uncertain market environment. The insecurity related to the global economic and money-market trend was upheld by the risks associated with the growing debts of certain European countries and by the fears of a slowdown in economic growth in Asian countries. For Raute’s customers, the uncertain market situation persisted in several market areas.
Despite the general market situation in the wood panel industry, 2012 was a clear improvement on the past few years for Raute. We kicked off the year with a satisfactory order book. In February, we received new orders worth more than Euro 50 million for machinery and equipment for the reconstruction of a plywood mill that had burned down in Chile in early January. In July, we received a significant machinery order valued at Euro 14 million for an LVL mill in Germany. In technology services, growth slowed down following the robust growth of the previous year. This was partly due to the allocation of both customers’ and our own resources to large new construction projects.”
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).