Slide 1: Making Wood Matter
MAKING WOOD MATTER atthe i " as oo oa
Slide 2: Financial Statements Release January–December 2025
FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 MIKA SAARIAHO, President and CEO VILLE HALTTUNEN, CFO February 12, 2026
Slide 3: Content
Content • Highlights and group performance • Segment performance • Cash flow, financial position and key figures • Outlook 2026 FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 3
Slide 4: Highlights and Group Performance
HIGHLIGHTS AND GROUP PERFORMANCE FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 4
Slide 5: Q4/2025 highlights
HIGHLIGHTS AND GROUP PERFORMANCE Q4/2025 highlights Strong operational execution in a challenging market environment • In 2025, Raute continued strong operational execution, driven by efficiency improvements, supply chain optimizations and focus on safety • For the full year, net sales amounted to E
Slide 6: Key Figures Q4/2025 and 2025
HIGHLIGHTS AND GROUP PERFORMANCE Key Figures Q4/2025 and 2025 Personnel* 698 (2024: 783) Net sales Q4 Comparable EBITDA Q4 Order intake Q4 36.2 5.7 25 Equity ratio* MEUR (Q4 2024: 56.5) MEUR (Q4 2024: 5.1) MEUR (Q4 2024: 50) 65.7 (2024: 55.2) Net sales 2025 Comparable EBITDA 2025 Order intake 2025 1
Slide 7: Order intake
HIGHLIGHTS AND GROUP PERFORMANCE Order intake Order intake EUR 25 million in Q4/2025 315 MEUR Asia-Pacific 29% 118 Europe 39% 203 19 Q4 50 138 121 29% 3% Q3 58 28 112 South America North America 50 91 35 25 Q4/2025 Q2 65 15 40 20 38 • Orders included after-sales services, 67 12 modernizations, upgra
Slide 8: Order book
HIGHLIGHTS AND GROUP PERFORMANCE Order book Order book of EUR 98 million at the end of Q4/2025 266 MEUR 259 • Five mill-sized orders received during Q1/23 –Q1/24: Lumin, Latvias Finiers, Thebault, Metsä 223 Wood and AmberBirch 202 2 192 1 188 184 158 150 152 146 129 121 266 259 3 115 109 74 86 78 10
Slide 9: Net sales
HIGHLIGHTS AND GROUP PERFORMANCE Net sales Net sales EUR 36.2 million in Q4/2025 decreasing 35.9% against last year MEUR South America 205 Asia-Pacific 10% 3% -35.9% 176 56 North America 16% 158 36 142 145 46 45 46 115 44 44 72% Europe Q4 39 42 38 34 57 44 Q4/2025 Q3 28 30 • Net sales were affected
Slide 10: Comparable EBITDA
HIGHLIGHTS AND GROUP PERFORMANCE Comparable EBITDA Comparable EBITDA EUR 5.7 million in Q4/2025 with margin of 15.8% +12% 8 MEUR 7.4 6.3 6.5 6.5 • Comparable EBITDA EUR 5.7 million 6.0 5.7 6 5.4 5.1 (5.1) and margin 15.8% (9.0) in Q4/2025 4 • The increase was driven by 3.1 2.8 3.0 2.7 3.0 2.7 improv
Slide 11: Operating profit (YTD)
HIGHLIGHTS AND GROUP PERFORMANCE Operating profit (YTD) YTD operating profit EUR 17.3 million in Q1-Q4/2025, up from last year despite one-off costs 20 +26% Q1-Q4/2025 MEUR 17.3 • Q1-Q4/2025 operating profit EUR 17.3 million (13.7) and margin of 9.8% (6.7) 15 13.7 12.9 • Items affecting comparabilit
Slide 12: Personnel
HIGHLIGHTS AND GROUP PERFORMANCE Personnel Head account decreased 11% against last year same period 802 798 -11% 778 783 775 789 783 754 757 754 770 766 733 745 698 696 698 Others North America 6% 17% 77% Europe 2021 2022 2023 2024 2025 Q4/23 Q1/23 Q2/23 Q3/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/
Slide 13: Segment Performance
SEGMENT PERFORMANCE FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 13
Slide 14: Wood Processing
SEGMENT PERFORMANCE Wood Processing • Net sales EUR 24.4 million in Q4/2025, Net sales MEUR Comparable EBITDA MEUR decreased by 40.8% against last year -40.8% • Net sales were affected by the low order intake especially during the first 45 8 half of the year 6 • Net sales were supported by strong 40
Slide 15: Services
SEGMENT PERFORMANCE Services Net sales MEUR Comparable EBITDA MEUR 14 -17.5% 3 • Net sales EUR 9.6 million in Q4/2025, decreased by 17.5% against last year 12 • Net sales were affected by the 2,5 uncertain global market conditions and the 10 implementation of extended 2 shutdowns by several customer
Slide 16: Analyzers
SEGMENT PERFORMANCE Analyzers Net sales MEUR Comparable EBITDA MEUR • Net sales EUR 2.3 million in Q4/2025, decreasing 39.2% against last year 7 -39.2% 2,5 • Net sales were affected by the low order intake earlier during 2025, 6 especially in North America, where 2 new orders were postponed • Order
Slide 17: Cash Flow, Financial Position and Key Figures
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 17
Slide 18: Earnings per share
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Earnings per share Q4/2025 Comparable EPS EUR 0.62 (0.52) – R12M Comparable EPS EUR 2.70 (2.05) 0.73 0.74 +19% • Q4/25 comparable EPS EUR 0.62 (0.52) EPS 0.69 0.71 0.68 0.69 • Increase primarily due to increase in Comparable EPS 0.65 operating profit 0.6
Slide 19: Quarterly cash flow and EBITDA
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Quarterly cash flow and EBITDA Q4/2025 operating cash flow strong EUR 12.7 million MEUR 40,0 • Q4/2025 operating cash flow EUR 12.7 million (3.7) 30,0 • EBITDA amounted to EUR 5.5 million 20,0 (4.8) 12,7 • Change in networking capital having 10,0 3,7 4,8
Slide 20: Net working capital
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Net working capital Net working capital EUR -1.2 million at the end of Q4/2025 MEUR 10,0 10% • Net working capital EUR -1.2 million 5,6 6,5 (-30.6) at the end of Q4/2025 5,0 5% 0,0 • NWC change during Q4/2025 - 0,8 0% EUR -7.7 million (+1.3) - 1,2 -5,0 -
Slide 21: Balance sheet structure
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Balance sheet structure Strong balance sheet enables the execution of growth strategy Equity ratio Net liquidity (MEUR) 64.9 65.7 57.5 58.8 60.0 55.2 58.8 54.3 55.2 53.7 48.1 50.2 49.7 48.5 44.3 40.5 40.3 37.3 36.6 31.6 29.6 58.8 22.3 55.2 57.5 48.1 40.5
Slide 22: Capex, depreciation and amortization
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Capex, depreciation and amortization Capital expenditure have increased from last year MEUR 7,0 • Capex in Q1-Q4/2025 totaled 6,6 6,3 EUR 4.6 million (2.8) 6,0 5,0 4,5 4,6 4,0 4,0 3,7 3,8 3,1 3,0 2,8 2,5 2,0 1,8 1,9 1,5 1,3 1,4 1,0 0,0 2021 2022 2023 202
Slide 23: Research and development cost
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Research and development cost MEUR / % of net sales 7,0 6,3 6,0 5,2 5,3 5,0 4,9 4,8 4,0 3,0 2,0 1,0 0,0 2021 2022 2023 2024 2025 R&D expenses (MEUR) R&D as % of sales (%) FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 23
Slide 24: Outlook 2026
OUTLOOK 2026 FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 24
Slide 25: Business environment
OUTLOOK 2026 Business environment • In 2025, Raute’s operating environment remained challenging, characterized by global economic and geopolitical uncertainty affecting customers’ investment decisions • During the fourth quarter of 2025, the global construction industry remained in a sustained reces
Slide 26: Guidance statement for 2026
OUTLOOK 2026 Guidance statement for 2026 Raute’s 2026 net sales are expected to be between EUR 135–170 million (EUR 175.5 million in 2025) and comparable EBITDA is expected to be between EUR 10–19 million (EUR 26.1 million in 2025). FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 26
Slide 27: Dividend proposal
OUTLOOK 2026 Dividend proposal Dividend / EUR per share 0.65 • Raute aims to pay a stable and sustainable 0.55 dividend over different market conditions • Dividend proposal of EUR 0.65 per share • Additionally, the Board has decided to initiate a share buy-back program (max EUR 1.5 million and max 1
Slide 28: Further information
Further information Mika Saariaho Ville Halttunen President and CEO CFO +358 40 1549393 +358 50 3460868 ville.halttunen@raute.com mika.saariaho@raute.com FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 28
Slide 29: Follow us
Follow us Web › Web › www.raute.com LinkedIn › LinkedIn › Raute Corporation Youtube › @RauteCorporation Facebook Global › Facebook Global › Raute Corporation Instagram Global › Instagram Global › @rautecorporation FINANCIAL STATEMENTS RELEASE JANUARY–DECEMBER 2025 29
Slide 30: Thank you!
wy THANK YOU! —