Slide 1: Making Wood Matter
MAKING WOOD MATTER atthe i " as oo oa
Slide 2: Half-Year Financial Report January-June 2025
HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 MIKA SAARIAHO, President and CEO VILLE HALTTUNEN, CFO 12.8.2025
Slide 3: Content
Content • Highlights and Group performance • Segment performance • Cash flow, financial position and key figures • Outlook 2025 HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 3
Slide 4: Highlights and Group Performance
HIGHLIGHTS AND GROUP PERFORMANCE HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 4
Slide 5: Q2/2025 highlights
HIGHLIGHTS AND GROUP PERFORMANCE Q2/2025 highlights Profitability continued to increase • Comparable EBITDA reached in Q2/25 at EUR 6.5 (5.4) million with margin of 14.7% (9.4%) • The first time we have exceeded on a rolling 12-month basis our long-term target of a 12% comparable EBITDA margin • We
Slide 6: Key figures Q2/2025
HIGHLIGHTS AND GROUP PERFORMANCE Key figures Q2/2025 Net sales Comparable EBITDA Order intake 43.8 6.5 12 MEUR (Q2 2024: 57.1) MEUR (Q2 2024: 5.4) MEUR (Q2 2024: 20) Equity ratio* Order book* Personnel* 60.0 115 766 MEUR (Q2 2024: 48.5) MEUR (Q2 2024: 223) (Q2 2024: 798) HALF-YEAR FINANCIAL REPORT J
Slide 7: Order intake
HIGHLIGHTS AND GROUP PERFORMANCE Order intake Order intake EUR 12 million in Q2/2025 315 Asia-Pacific MEUR 6% 118 44% Europe North America 35% 203 19 Q4 50 138 Q3 58 28 112 121 15% 50 South America 35 Q2/2025 Q2 65 15 40 20 • Quarterly order intake included mainly after-sales 67 27 12 services and s
Slide 8: Order book
HIGHLIGHTS AND GROUP PERFORMANCE Order book Order book of EUR 115 million at the end of Q2/2025 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 1
Slide 9: Net sales
HIGHLIGHTS AND GROUP PERFORMANCE Net sales Net sales EUR 43.8 million in Q2/2025 decreasing 23.3% against last year, decline due to the quarterly fluctuations in revenue recognition MEUR South America 205 Asia-Pacific 6% 3% 56 North America 16% 158 142 145 46 45 46 115 44 96 75% Q4 39 42 -23.3% Euro
Slide 10: Comparable EBITDA
HIGHLIGHTS AND GROUP PERFORMANCE Comparable EBITDA Comparable EBITDA EUR 6.5 million in Q2/2025 with margin of 14.7% +20% 8 MEUR 7.4 6.3 6.5 6.0 • Comparable EBITDA EUR 6.5 million 6 5.4 5.1 (5.4) and margin 14.7% (9.4) in Q2/2025 4 3.1 2.8 3.0 2.7 3.0 • The increase was driven by 2.7 2.1 strong ope
Slide 11: Operating profit (YTD)
HIGHLIGHTS AND GROUP PERFORMANCE Operating profit (YTD) YTD operating profit EUR 7.8 million in H1/2025, up from last year despite one-off costs 15 13.7 H1/2025 MEUR • H1/2025 operating profit EUR 7.8 10.2 million (5.4) and margin of 8.1% (5.3) 10 • Items affecting comparability (IACs) 7.8 in EBIT a
Slide 12: Personnel
HIGHLIGHTS AND GROUP PERFORMANCE Personnel Head account decreased 4% against last year same period -4% 802 798 789 778 783 775 783 770 751 754 757 754 766 733 745 China Others 2% 5% North America 17% 76% Europe 2020 2021 2022 2023 2024 Q4/23 Q1/23 Q2/23 Q3/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 HALF
Slide 13: Segment Performance
SEGMENT PERFORMANCE HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 13
Slide 14: Wood processing
SEGMENT PERFORMANCE Wood processing Net sales MEUR Comparable EBITDA MEUR • Net sales EUR 30.4 million in -27.3% 8 Q2/2025, decreased by 27.3% 45 against last year 6 40 • The decrease was due to typical 4 fluctuations in revenue 35 recognition in project business 2 • Net sales were supported by 30 0
Slide 15: Services
SEGMENT PERFORMANCE Services Net sales MEUR Comparable EBITDA MEUR 3 • Net sales EUR 9.9 million in 14 -7.4% Q2/2025, decreased by 7.4% 2.5 against last year 12 • Demand for services was at a stable level apart from small 2 upgrading projects, which were 10 lower mainly due to the current uncertain
Slide 16: Analyzers
SEGMENT PERFORMANCE Analyzers Net sales MEUR Comparable EBITDA MEUR • Net sales EUR 3.5 million in 7 2.5 Q2/2025, decreasing 22.8% against -22.8% last year 6 • The decrease was due to a weak 2 order intake especially in North 5 America 1.5 • Comparable EBITDA EUR 0.4 million 4 (0.5) with margin of 1
Slide 17: Cash Flow, Financial Position and Key Figures
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 17
Slide 18: Earnings per share
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Earnings per share Q2/2025 Comparable EPS improved 0.68 (0.57) – R12M Comparable EPS 2,65 +19% EPS 0.73 0.74 • Q2/25 comparable EPS 0.68 (0.57) 0.69 0.71 0.68 • supported by increased comparable Comparable EPS operating profit 0.56 0.57 0.52 0.48 • Q2/25
Slide 19: Quarterly cash flow and EBITDA
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Quarterly cash flow and EBITDA Q2/2025 operating cash flow EUR -21.2 million due to normalization of networking capital MEUR • Q2/2025 operating cash flow EUR 40.0 -21.2 million (-1.7) 30.0 • EBITDA amounted to EUR 4.5 million (5.3) 22.7 20.0 • Change in
Slide 20: Net working capital
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Net working capital Net working capital EUR -0.8 million at the end of Q2/2025 MEUR 10.0 10% • Net working capital EUR -0.8 million (- 5.6 18.8) at the end of Q2/2025 5.0 5% 0.0 • NWC change during Q2/2025 EUR - 0.8 0% +25.5 million (+8.2) -5.0 -2.9 -4.3
Slide 21: Balance sheet structure
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Balance sheet structure Strong balance sheet enables the execution of growth strategy. Net liquidity impacted by the normalization of networking capital Equity ratio Net liquidity (MEUR) 70% 57.5 58.8 55.2 58.8% 60.0 % 60% 48.1 54.3% 55.2% 53.7% 50.2 % 4
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 Q2/2025 totaled 6.6 EUR 1.0 million (0.6) 6.3 6.0 • During Q2/2025 there was additionally an impairment of EUR 1.0 million 5.0 related to China fac
Slide 23: Research and Development
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Research and Development MEUR / % of net sales 7.0 6.3 6.0 5.2 5.3 5.4 4.9 5.0 4.0 3.0 2.8 2.8 2.0 1.0 0.0 2021 2022 2023 2024 2025R12 1-6/24 1-6/25 R&D expenses (MEUR) R&D as % of sales (%) HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 23
Slide 24: Outlook 2025
OUTLOOK 2025 HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 24
Slide 25: Business environment
OUTLOOK 2025 Business environment • The global business environment was very turbulent in the first half of the year due to many different reasons in various market areas. This general turbulence has affected the demand for our customers’ end products • After a prolonged recession, a slight pick-up
Slide 26: Guidance statement for 2025
OUTLOOK 2025 Guidance statement for 2025 Guidance statement for 2025 Raute’s 2025 net sales are expected to be between EUR 190–220 million and comparable EBITDA between EUR 20–27 million. HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 26
Slide 27: 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 HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 27
Slide 28: 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 HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2025 28
Slide 29: Thank you!
wy THANK YOU! —