Raute Oyj Class A · OMXHEX:RAUTE
Raute Oyj Class A — Q1 2026 Earnings Presentation
29 slides from Raute Oyj Class A's earnings presentation, May 7, 2026
Slide 1: Making Wood Matter
MAKING WOOD MATTE
Slide 2: Business Review January–March 2026
BUSINESS REVIEW JANUARY–MARCH 2026 © Raute Corporation. All rights reserved. MIKA SAARIAHO, President and CEO VILLE HALTTUNEN, CFO May 7, 2026 BUSINESS REVIEW JANUARY–MARCH 2026 2
Slide 3: Content
Content • Highlights and group performance • Segment performance • Cash flow, financial position and key figures • Outlook 2026 © Raute Corporation. All rights reserved. BUSINESS REVIEW JANUARY–MARCH 2026 3
Slide 4: Highlights and Group Performance
HIGHLIGHTS AND GROUP PERFORMANCE
Slide 5: Q1 2026 highlights
Q1 2026 highlights Operational performance continued strong, but market uncertainty did not ease • Global economic and geopolitical uncertainty intensified, leading to continued postponement of customers’ investment decisions and delayed recovery of order intake, which amounted to EUR 17 (15) millio
Slide 6: Key figures Q1 2026
Key figures Q1 2026 Net sales Comparable EBITDA Order intake 33.5 4.2 17 MEUR (Q1 2025: 51.9) MEUR (Q1 2025: 7.4) MEUR (Q1 2025: 15) © Raute Corporation. All rights reserved. Equity ratio* Order book* Personnel* 65.2 81 692 (Q1 2025: 53.7) MEUR (Q1 2025: 146) (Q1 2025: 770) *at the end of the report
Slide 7: Order intake
Order intake Order intake EUR 17 million in Q1 2026 315 Asia-Pacific MEUR 2% North America 118 27% 19 62% Europe 9% South America 138 © Raute Corporation. All rights reserved. Q4 28 112 121 Q3 50 91 35 25 15 Q2 40 Orders included after-sales services, 20 38 67 modernizations, upgrades and individual
Slide 8: Order book
Order book Order book of EUR 81 million at the end of Q1 2026 266 MEUR 259 Five mill-sized orders received during Q1/23 –Q1/24: Lumin, Latvias Finiers, Thebault, 223 Metsä Wood and AmberBirch 202 2 192 1 188 184 158 150 152 146 129 121 266 259 3 115 74 86 78 104 223 108 94 98 55 94 200 191 98 92 © R
Slide 9: Net sales
Net sales Net sales EUR 33.5 million in Q1 2026 decreasing 35.5% against last year MEUR 205 South America Asia-Pacific 7% 176 3% 56 158 36 145 North America 23% Q4 46 45 46 44 67% Europe © Raute Corporation. All rights reserved. Q3 42 34 57 44 Q2 30 29 Net sales were affected by a low order intake -
Slide 10: Comparable EBITDA
Comparable EBITDA Comparable EBITDA EUR 4.2 million in Q1 2026 with margin of 12.6% (14.3%) -43% 8 MEUR 7.4 6.3 6.5 6.5 Comparable EBITDA EUR 4.2 million 6.0 5.7 6 5.4 5.1 (7.4) and margin 12.6% (14.3) 4.2 in Q1 2026 4 • Comparable EBITDA decreased 3.1 2.8 3.0 2.7 3.0 2.7 in all business units mainl
Slide 11: Operating profit
Operating profit Operating profit EUR 2.8 million in Q1 2026, i.e. 8.3% of net sales -53% 20 Q1 2026 operating profit EUR 2.8 million MEUR 17.3 (5.9) and margin of 8.3% (11.3) • Items affecting comparability (IACs) 15 13.7 12.9 in operating profit totaled to 10.2 EUR -0.2 million (-0.1) 10 7.8 Q1 20
Slide 12: Personnel
Personnel Head account decreased 10% against comparison period 802 798 789 -10% 778 783 775 783 770 754 766 698 696 698 692 Others North America 2% 17% © Raute Corporation. All rights reserved. 81% Europe 2021 2022 2023 2024 2025 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 BUSINESS REVIEW
Slide 13: Segment Performance
= RAUTE SEGMENT PERFORMANCE
Slide 14: Wood Processing
Wood Processing Net sales (MEUR) Comparable EBITDA (MEUR) Net sales EUR 22.8 million in Q1 2026, decreased by 39.8% against last year • Net sales decreased mainly due to lower order intake during the -40% past quarters 5.5 3.6 Comparable EBITDA EUR 3.6 million (5.5) and margin 15.7% (14.5) in Q1 202
Slide 15: Services
Services Net sales (MEUR) Comparable EBITDA (MEUR) Net sales EUR 8.3 million in Q1 2026, decreased by 19.1% against last year • Net sales were negatively impacted by lower order intake during the last quarter of 2025 -19% • Challenging global market conditions caused our customers to slow down their
Slide 16: Analyzers
Analyzers Net sales (MEUR) Comparable EBITDA (MEUR) Net sales EUR 2.3 million in Q1 2026, decreasing 36.9% against last year • Net sales were affected by lower order intake and timing variations in project deliveries. Q1 2026 comparable EBITDA was EUR -0.2 million (0.3) with margin of -6.6% (8.1) -3
Slide 17: Cash Flow, Financial Position and Key Figures
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES
Slide 18: Earnings per share
Earnings per share Q1 2026 Comparable EPS EUR 0.40 (0.71) – R12M Comparable EPS EUR 2.39 (2.54) -44% EPS 0.73 0.74 Q1 2026 comparable EPS EUR 0.40 (0.71) 0.69 0.71 0.68 0.69 • Decrease due to operating profit Comparable EPS 0.65 0.62 • Effective tax rate 20% (27%) during 0.59 the quarter 0.56 0.57 0
Slide 19: Quarterly cash flow and EBITDA
Quarterly cash flow and EBITDA Q1 2026 operating cash flow EUR -5.3 million MEUR 40,0 Q1 2026 operating cash flow EUR -5.3 million (2.8) 30,0 • EBITDA amounted to EUR 4.0 million (7.3) 20,0 • The cash flow was negatively impacted by the change in 10,0 7,3 networking 2,8 4,0 0,0 -5,3 © Raute Corporat
Slide 20: Net working capital
Net working capital Net working capital EUR 6.7 million at the end of Q1 2026 MEUR 10,0 10% Net working capital EUR 6.7 million 6,5 6,7 5,0 (-26.3) at the end of Q1 2026 5% • NWC change during Q1 2026 0,0 EUR 7.8 million (+4.3) -0,8 -1,2 0% • Networking capital changes typical -5,0 in the project bu
Slide 21: Balance sheet structure
Balance sheet structure Strong balance sheet enables the execution of growth strategy Equity ratio Net liquidity (MEUR) 64.9 65.7 65.2 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 33.8 31.6 29.6 58.8 22.3 55.2 57.5 48.1 40.5 37.3 40.3 © Raute Corporation. All
Slide 22: Capex, depreciation and amortization
Capex, depreciation and amortization Capital expenditure close to last year level MEUR 7,0 6,6 Capex in Q1 2026 totaled 6,3 EUR 0.6 million (0.7) 6,0 5,0 4,5 4,6 4,5 4,0 4,0 3,7 3,8 3,7 3,1 3,0 2,8 2,5 © Raute Corporation. All rights reserved. 2,0 1,8 1,9 1,5 1,5 1,3 1,4 1,1 1,0 1,0 0,7 0,6 0,3 0,2
Slide 23: Research and development cost
Research and development cost MEUR / % of net sales 7,0 6,3 6,0 5,2 5,3 5,0 4,9 4,8 4,8 4,0 3,0 © Raute Corporation. All rights reserved. 2,0 1,3 1,2 1,0 0,0 2021 2022 2023 2024 2025 Q1/26 R12 1-3/25 1-3/26 R&D expenses (MEUR) R&D as % of sales (%) BUSINESS REVIEW JANUARY–MARCH 2026 23
Slide 24: Outlook 2026
= RAUTE OUTLOOK 2026
Slide 25: Business environment
Business environment • During the first quarter of 2026, Raute continued to operate in a challenging operating environment, characterized by global economic and geopolitical uncertainty, which negatively affected customers’ investment decisions. As a result, the new order intake from Raute’s custome
Slide 26: Guidance statement for 2026 (updated April 2026)
Guidance statement for 2026 (updated 30 April 2026) Raute’s 2026 net sales are expected to be between EUR 125–160 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). Rationale for the new guidance: Global economic and geop
Slide 27: Further information
Further information © Raute Corporation. All rights reserved. Mika Saariaho Ville Halttunen President and CEO CFO +358 40 1549393 +358 50 3460868 mika.saariaho@raute.com ville.halttunen@raute.com BUSINESS REVIEW JANUARY–MARCH 2026 27
Slide 28: Follow us
Follow us www.raute.com › www.raute.com › Raute Corporation › Raute Corporation › @RauteCorporation › @RauteCorporation › © Raute Corporation. All rights reserved. Raute Corporation › Raute Corporation › @rautecorporation › @rautecorporation › BUSINESS REVIEW JANUARY–MARCH 2026 28
Slide 29: Thank you!
” _— : - 4“ OG —_ THANKYOU! —~