Raute (RAUTE) Q4 2024 earnings summary

Executive summary

• Achieved record net sales of EUR 204.6 million in 2024, with significant profitability improvement and a comparable EBITDA margin of 9.7%.

• Strong performance in Wood Processing and Services segments, with solid project execution and operational efficiency.

• Q4 2024 finished strong, in line with upgraded guidance, and saw a positive turnaround in order intake, though no mill-sized projects were included.

• Maintained a robust order backlog of EUR 184 million at year-end, providing a buffer against market uncertainty.

• Board proposes a dividend of EUR 0.55 per share and a share buyback program up to EUR 1.35 million.

Financial highlights

• Q4 net sales reached EUR 56.5 million, up 24.9% year-over-year; full-year net sales EUR 204.6 million, up from EUR 145.4 million.

• Comparable EBITDA for Q4 was EUR 5.1 million (9.1% margin); full year EUR 19.8 million (9.7% margin), up from EUR 9.3 million.

• Earnings per share increased to EUR 0.54 in Q4 and EUR 1.96 for the full year.

• Operating cash flow for the year was EUR 14.1 million, with cash and cash equivalents at year-end EUR 57.5 million.

• Equity ratio improved to 55.2% at year-end; net liquidity at year-end was EUR 57.5 million.

Outlook and guidance

• 2025 net sales guidance: EUR 190–220 million; comparable EBITDA guidance: EUR 17–24 million.

• Market recovery is expected later in 2025 due to global uncertainties and weak construction markets.

• Order backlog at start of 2025 is EUR 184 million, providing a strong foundation.

• Board proposes a dividend of EUR 0.55 per share and a share buyback program.

• Demand for services remains strong; niche demand for birch plywood is increasing.