RAUTE CORPORATION STOCK EXCHANGE RELEASE SEPTEMBER 17, 2018 AT 5:40 p.m.
POSITIVE PROFIT WARNING: RAUTE CORPORATION’S NET SALES FOR 2018 WILL INCREASE AND OPERATING PROFIT FOR 2018 WILL IMPROVE COMPARED TO 2017
Due to faster than expected progress of the order book projects Raute raises its guidance regarding net sales and operating profit for 2018.
New guidance
Raute estimates that its net sales will increase and operating profit will improve in 2018 compared to the previous year. The new guidance assumes that no material surprises on the labor market will take place during the rest of the year.
As the demand is continuing to be strong, we have scheduled projects in the order book earlier than originally planned. Also, the uncertainty relating to the scheduling of the order book has decreased. Because of these reasons the net sales for 2018 are estimated to increase. Thanks to higher net sales it is estimated that also operating profit for 2018 will improve compared to 2017.
Previous guidance
Due to the scheduling of the order book, Raute’s net sales and operating profit for 2018 are expected to be at the previous year’s level.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, Raute Corporation, mobile phone +358 400 814 148
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF:
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. Its technology offering covers the entire production process for veneer, plywood and LVL and special measurement equipment for sawn timber. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in the Nastola area of Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, the Shanghai area of China and in Pullman, Washington, USA. Raute’s net sales in 2017 were EUR 148.1 million. The Group’s headcount at the end of 2017 was 704. More information about the company can be found at www.raute.com.