Raute Corporation's 3Q 2018 net sales reached a record-high level, at Euro 47.9 million, compared to Euro 37 million in the 3Q 2017, as the company said in the press release received by Lesprom Network.
Operating profit in the 3Q was a record Euro 5.6 million positive and accounted for 11.7% of net sales. The result was Euro 4.3 million positive, and undiluted earnings per share were Euro +1.01.
The total order intake in the 3Q, Euro 42 million, was at a good level, bearing in mind that it did not include major individual projects.
Tapani Kiiski, President and CEO, said: “Our performance in the third quarter was excellent and even surpassed our expectations. Thanks to the dedication of our personnel and solid collaboration with our partners, we were able to achieve record-high net sales. We also executed our deliveries on time and within the planned budget. We have also managed to keep growing cost pressures in check and also to resolve issues related to raw material and component availability. Just as important in terms of improving the near-term earnings outlook was that we were able to make room for new orders with competitive delivery times in our production plan.”
Net sales in January-September 2018, Euro 126.8 million, were up 17%, compared to January-September 2017. Of the total net sales for the reporting period, Europe accounted for 43%, Russia for 30%, North America for 19%, Asia-Pacific for 5%, and South America for 3%.
During January-September 2018, operating profit was Euro 11.5 million positive and accounted for 9.1% of net sales.
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.
