Slide 1: Making Wood Matter
MAKING~~ WOOD MATTE a haeasaieete st ws oo oa
Slide 2: Business Review January-March 2025
BUSINESS REVIEW JANUARY-MARCH 2025 MIKA SAARIAHO, President and CEO VILLE HALTTUNEN, CFO 7.5.2025
Slide 3: Content
Content • Highlights and Group performance • Segment performance • Cash flow, financial position and key figures • Outlook 2025 BUSINESS REVIEW Q1/2025 3
Slide 4: Highlights and Group Performance
HIGHLIGHTS AND GROUP PERFORMANCE BUSINESS REVIEW Q1/2025 4
Slide 5: Q1/2025 highlights
HIGHLIGHTS AND GROUP PERFORMANCE Q1/2025 highlights Continued strong profitability and operational execution • Comparable EBITDA reached an all-time high in Q1/25 at EUR 7.4 (3.0) million with margin of 14.3% (6.7%) • Excellent operational execution: Raute’s capability to operate in a high-volume bu
Slide 6: Key figures Q1/2025
HIGHLIGHTS AND GROUP PERFORMANCE Key figures Q1/2025 Net sales Comparable EBITDA Order intake 51.9 7.4 15 MEUR (Q1 2024: 44.7) MEUR (Q1 2024: 3.0) MEUR (Q1 2024: 36) Equity ratio* Order book* Personnel* 53.7 146 770 MEUR (Q1 2024: 49.7) MEUR (Q1 2024: 259) (Q1 2024: 775) BUSINESS REVIEW Q1/2025 *at
Slide 7: Order intake
HIGHLIGHTS AND GROUP PERFORMANCE Order intake Order intake EUR 15 million in Q1/2025 315 Asia-Pacific MEUR 4% 118 North America 38% 203 48% Europe 19 Q4 50 138 Q3 58 28 112 121 10% South America 35 50 Q1/2025 Q2 65 15 40 20 • Quarterly order intake included after-sales 67 15 services, modernizations
Slide 8: Order book
HIGHLIGHTS AND GROUP PERFORMANCE Order book Order book of EUR 146 million at the end of Q1/2025 still at a reasonable level 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
Slide 9: Net sales
HIGHLIGHTS AND GROUP PERFORMANCE Net sales Net sales EUR 51.9 million in Q1/2025 increasing 16.1% against last year, driven by Wood Processing and Services MEUR Asia-Pacific South America 205 3% 3% North America 56 19% 158 142 145 46 45 46 115 44 Q4 39 75% 42 Europe 38 34 57 Q3 28 30 52 Q1/2025 29 +
Slide 10: Comparable EBITDA
HIGHLIGHTS AND GROUP PERFORMANCE Comparable EBITDA Comparable EBITDA EUR 7.4 million in Q1/2025 with margin of 14.3% +146% 8 MEUR 7.4 6.0 6.3 • Comparable EBITDA EUR 7.4 million 6 5.4 5.1 (3.0) and margin 14.3% (6.7) in Q1/2025 4 3.1 2.8 3.0 2.7 3.0 • The increase was driven by 2.7 2.1 strong operat
Slide 11: Operating profit (YTD)
HIGHLIGHTS AND GROUP PERFORMANCE Operating profit (YTD) 15 MEUR 13.7 10.2 10 5.4 5.9 5 0.9 1.2 1.9 1.5 0 -0.2 -1.5 -3.1 -3.0 -2.8 -2.8 -2.8 -2.2 -5 -4.2 -4.5 -10 -15 -14.6 -16.6 -15.2 -20 2020 2021 2022 2023 2024 2025 Q1 Q1-Q2 Q1-Q3 Q1-Q4 BUSINESS REVIEW Q1/2025 11
Slide 12: Personnel
HIGHLIGHTS AND GROUP PERFORMANCE Personnel Head account decreased 1% against last year same period -1% 802 798 789 778 783 775 783 770 751 754 757 745 754 733 Others China 2% 6% North America 17% 74% Europe 2020 2021 2022 2023 2024 Q4/23 Q1/23 Q2/23 Q3/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 BUSINESS REVIE
Slide 13: Segment Performance
SEGMENT PERFORMANCE BUSINESS REVIEW Q1/2025 13
Slide 14: Wood processing
SEGMENT PERFORMANCE Wood processing Net sales MEUR Comparable EBITDA MEUR 45 8 +18.7% 6 40 • Net sales EUR 37.9 million in 4 Q1/2025, increased by 18.7% 35 against last year 2 • The increase was driven by solid 30 progress in the deliveries of the 0 order book 25 Q1 Q2 Q3 Q4 -2 • Comparable EBITDA E
Slide 15: Services
SEGMENT PERFORMANCE Services Net sales MEUR Comparable EBITDA MEUR 14 3 +4.4% 12 • Net sales EUR 10.3 million in 2.5 Q1/2025, increased by 4.4% against last year 10 • Good order intake in the fourth 2 quarter of 2024 led to increasing deliveries in the first quarter of 8 2025 1.5 • Comparable EBITDA
Slide 16: Analyzers
SEGMENT PERFORMANCE Analyzers Net sales MEUR Comparable EBITDA MEUR 7 2.5 • Net sales EUR 3.7 million in 6 2 Q1/2025, increasing 27.6% against +27.6% last year • The increase was due to a good 5 order intake in the fourth quarter 1.5 • Comparable EBITDA EUR 0.3 million 4 (-0.1) with margin of 8.1% (
Slide 17: Cash Flow, Financial Position and Key Figures
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES BUSINESS REVIEW Q1/2025 17
Slide 18: Earnings per share
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Earnings per share Q1/2025 EPS was 0.69 (0.20) – R12M EPS 2,45 +245% 0.73 • EPS supported by increased EBIT 0.69 • Effective tax rate 27% in Q1/2025, 0.56 0.48 • Interest of convertible junior loan (MEUR 3) calculated in EPS 0.20 0.16 0.10 0.09 -0.15 Q1/
Slide 19: Quarterly cash flow and EBITDA
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Quarterly cash flow and EBITDA Q1/2025 operating cash flow EUR +2.8 million MEUR 40.0 • Q1/2025 operating cash flow EUR 35.0 2.8 million (-6.8) • EBITDA amounted to EUR 7.3 30.0 million (2.9) • Change in networking capital 25.0 having negative impact on
Slide 20: Net working capital
CASH FLOW, FINANCIAL POSITION AND KEY FIGURES Net working capital Net working capital EUR -26.3 million at the end of Q1/2025 MEUR 10.0 10% • Net working capital EUR -26.3 5.6 million (-27.0) at the end of Q1/2025 5.0 • NWC change during Q1/2025 5% 0.0 EUR +4.3 million (+9.3) 0% -5.0 -2.9 -4.3 -4.2
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) 70% 57.5 58.8 55.2 60% 58.8% 54.3% 55.2% 53.7% 48.1 50.2 % 49.7 % 48.5% 50% 40.5 44.3% 37.3 40% 36.6% 57.5 58.8 22.3 55.2 30% 48.1 40.
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 Q1/2025 totaled 6.6 6.3 EUR 0.7 million (0.4) 6.0 5.0 4.5 4.0 4.1 4.0 3.7 3.1 3.1 3.0 2.8 2.5 2.0 1.8 1.9 1.3 1.4 1.3 1.0 1.1 1.0 0.7 0.4 0.4 0.3 0
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 4.9 5.0 4.0 3.0 2.0 1.4 1.3 1.0 0.0 2021 2022 2023 2024 1-3/24 1-3/25 R&D expenses (MEUR) R&D as % of sales (%) BUSINESS REVIEW Q1/2025 23
Slide 24: Outlook 2025
OUTLOOK 2025 BUSINESS REVIEW Q1/2025 24
Slide 25: Business environment
OUTLOOK 2025 Business environment • The global investment sentiment has become increasingly uncertain during the first quarter due to the turbulence in global trade and tariffs • The demand for softwood plywood continues to suffer from the slow construction market, and the declining interest rates h
Slide 26: Guidance statement for 2025
OUTLOOK 2025 Guidance statement for 2025 Guidance statement for 2025 (Updated on April 25, 2025) Raute’s 2025 net sales are expected to be between EUR 190–220 million and comparable EBITDA between EUR 20–27 million. The rationale for the new guidance: Raute’s project deliveries have progressed bette
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 BUSINESS REVIEW Q1/2025 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 BUSINESS REVIEW Q1/2025 28
Slide 29: Thank you!
y - THANK YOU! |