Raute Corporation, Stock Exchange Release, 12 August 2026 at 8:00 a.m. EEST
Raute's Half-year Financial Report January-June 2026: Strong operational performance supported profitability in a continued challenging market
This is a summary of Raute Corporation's Half-year Financial Report January-June 2026. The full report is as a PDF file attachment in this release and is also available on the company's website at www.raute.com.
RAUTE CORPORATION - HALF-YEAR FINANCIAL REPORT JANUARY-JUNE 2026
Figures in brackets refer to the same period a year earlier. Figures are unaudited and rounded to the nearest whole number.
April-June 2026 in brief
- Order intake was EUR 18 million (12)
- Order book was EUR 66 million (115) at the end of the reporting period
- Net sales were EUR 33.0 million (43.8)
- Comparable EBITDA was EUR 4.0 million (6.5), representing 12.0% (14.7%) of net sales
- Comparable operating profit was EUR 2.7 million (4.9)
- Operating profit was EUR 2.5 million (1.9)
- Comparable earnings per share were EUR 0.36 (0.68)
- Earnings per share were EUR 0.33 (0.19)
- Equity ratio was 64.7% (60.0%) at the end of the reporting period
January-June 2026 in brief
- Order intake was EUR 35 million (27)
- Net sales were EUR 66.5 million (95.7)
- Comparable EBITDA was EUR 8.2 million (13.9), representing 12.3% (14.5%) of net sales
- Comparable operating profit was EUR 5.7 million (10.9)
- Operating profit was EUR 5.2 million (7.8)
- Comparable earnings per share were EUR 0.69 (1.39)
- Earnings per share were EUR 0.69 (0.88)
KEY FIGURES (MEUR) | Q2/ | Q2/ | Change | H1/ | H1/ | Change | 2025 |
Net sales | 33.0 | 43.8 | -24.6 | 66.5 | 95.7 | -30.5 | 175.5 |
Exported portion of net sales, % | 73.5 | 54.9 | 71.8 | 56.1 | 60.2 | ||
Comparable EBITDA | 4.0 | 6.5 | -38.5 | 8.2 | 13.9 | -40.9 | 26.1 |
Comparable EBITDA % | 12.0 | 14.7 | 12.3 | 14.5 | 14.9 | ||
EBITDA | 3.7 | 4.5 | -16.4 | 7.8 | 11.7 | -33.9 | 23.6 |
EBITDA % | 11.3 | 10.2 | 11.7 | 12.3 | 13.4 | ||
Comparable operating profit | 2.7 | 4.9 | -44.7 | 5.7 | 10.9 | -48.0 | 20.8 |
Comparable operating profit, % | 8.2 | 11.2 | 8.5 | 11.4 | 11.8 | ||
Operating profit | 2.5 | 1.9 | 28.3 | 5.2 | 7.8 | -32.8 | 17.3 |
Operating profit, % | 7.5 | 4.4 | 7.9 | 8.1 | 9.8 | ||
Net result | 2.0 | 1.2 | 67.6 | 4.2 | 5.4 | -21.9 | 12.9 |
Comparable EPS, EUR | 0.36 | 0.68 | -46.7 | 0.69 | 1.39 | -50.4 | 2.70 |
EPS, EUR | 0.33 | 0.19 | 71.7 | 0.69 | 0.88 | -21.8 | 2.12 |
EPS (diluted), EUR | 0.32 | 0.19 | 69.9 | 0.68 | 0.86 | -20.6 | 2.06 |
Adjusted avg. no. of shares, 1000 pcs | 5,967 | 5,995 | 5,971 | 6,009 | 5,988 | ||
Adjusted avg. no. of shares, diluted, 1000 pcs | 6,202 | 6,023 | 6,211 | 6,313 | 6,279 | ||
Return on investment, (ROI), % | 19.7 | 32.6 | 32.5 | ||||
Return on equity, (ROE), % | 15.2 | 21.8 | 24.0 | ||||
Interest-bearing net liabilities | -14.9 | -28.6 | -38.0 | ||||
Equity ratio, % | 64.7 | 60.0 | 65.7 | ||||
Gearing, % | -27.8 | -57.0 | -65.5 | ||||
Gross capital expenditure | 1.1 | 1.0 | 7.7 | 1.7 | 1.7 | -0.1 | 4.6 |
% of net sales | 3.3 | 2.3 | 2.5 | 1.8 | 2.6 | ||
Research and development costs | 1.4 | 1.4 | -4.2 | 2.6 | 2.8 | -6.7 | 4.8 |
% of net sales | 4.1 | 3.2 | 3.9 | 2.9 | 2.8 | ||
Order book | 66 | 115 | -42.7 | 98 | |||
Order intake | 18 | 12 | 47 | 35 | 27 | 26.8 | 91 |
Personnel, at the end of the period | 697 | 766 | -9.0 | 698 | |||
Personnel, effective, on average | 659 | 748 | -11.9 | 662 | 754 | -12.2 | 710 |
Review from Mika Saariaho, President and CEO
In the second quarter of 2026, Raute continued to demonstrate strong operational execution in a market environment characterized by prolonged uncertainty and subdued customer investment activity. Economic uncertainty remained elevated across our key markets, and many customers continued to focus on cost savings and operational efficiency rather than new investments. As a result, order intake remained at a low level, as again certain orders were postponed into the coming quarters. Nevertheless, our ability to execute customer delivery projects efficiently supported profitability and highlighted the resilience of our business model.
Raute's order intake for the quarter amounted to EUR 18 million, compared with EUR 12 million in the comparison period. Net sales totaled EUR 33.0 million, down from EUR 43.8 million in the second quarter of 2025. Comparable EBITDA amounted to EUR 4.0 million, corresponding to 12.0% of net sales, compared with EUR 6.5 million and 14.7% in the comparison period. Profitability was supported by good progress in customer delivery projects, tight cost control and the release of certain project provisions. However, lower business volumes continued to weigh on earnings across the Group. The order book at the end of the quarter stood at EUR 66 million.
Performance varied across our business units. In Wood Processing, profitability remained at a very good level despite lower business volumes, supported by successful project execution. In Services, customer activity remained subdued as many customers continued to seek savings in their daily operations. Consequently, sales volumes were lower than expected and profitability did not fully reflect the earnings potential of the business. In Analyzers, the quarter marked a clear profitability improvement compared with the low levels seen in previous quarters. Improved business volumes supported a recovery in profitability and demonstrated the underlying strength of the business.
During the quarter, we continued to improve our operational capabilities across the Group. Our focus remained on disciplined execution, tight cost control, efficiency improvements and maintaining strong customer delivery performance. These efforts are particularly important in the current market environment and help ensure that Raute remains well positioned when investment activity eventually recovers. The strategic priorities we have communicated earlier remain unchanged, and we continue to advance them with determination despite the challenging market conditions.
While the market environment remained difficult throughout the quarter, we have observed some signs of improving customer sentiment. However, these early indications have not yet translated into a broader recovery in order intake. The timing of a sustained improvement in customers' investment activity therefore remains difficult to predict. In this environment, we continue to focus on operational excellence, margin management and the successful execution of our customer commitments. With a strong balance sheet and disciplined approach, Raute is well positioned to navigate the current uncertainty and capture opportunities when market conditions improve.
BUSINESS ENVIRONMENT
Raute's business environment continued to be challenging during the second quarter of 2026. The sustained global economic and geopolitical uncertainty affected customers' investment decisions negatively. As a result, the new order intake from Raute's customers remained at low level during the second quarter of the year.
In Europe, demand for engineered wood products remained mixed. While hardwood plywood demand picked up and exports from Nordic and Baltic producers approached some of the highest levels seen in recent years, the demand for softwood plywood was notably weaker, forcing producers continued to adjust their operations. In North America, elevated interest rates and housing affordability challenges continued to limit construction activity. Demand for structural wood panels in North America is expected to remain below the prior year's level, although parts of the commodity market have shown early, tentative signs of price stabilization.
Engineered wood products are primarily used in construction, with the furniture and transportation industries also representing significant end markets. Consequently, market demand is closely linked to the development of these industries. While expectations in the global construction industry continue to point to a gradual recovery, uncertainty remains elevated due to geopolitical tensions, inflationary pressures, and weak construction activity in several key markets.
Despite the uncertain market environment, Raute's customers in both Europe and North America, but also in Asia and Oceania, have continued preparations for future investments, particularly those aimed at improving production efficiency and competitiveness. Over the long term, investments are expected to be supported by increasing sustainability requirements, technological development, and demand for more efficient production processes.
Raute's competitive position is supported by its global presence, comprehensive technology and analytics offering, providing the capability to respond to sustainability-related requirements. Furthermore, Raute's comprehensive service offering across the product life cycle supports customer relationships, creates opportunities for recurring business and helps mitigate cyclical fluctuations in capital equipment demand.
GUIDANCE STATEMENT FOR 2026 (Specified)
Based on actual performance during the first half of 2026, as well as the current order backlog and market outlook, Raute specifies its financial guidance within the previously communicated range.
Raute's 2026 net sales are expected to be between EUR 125-145 million (EUR 175.5 million in 2025) and comparable EBITDA is expected to be between EUR 11-18 million (EUR 26.1 million in 2025).
Previous guidance (April 30, 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).
RAUTE CORPORATION
Board of Directors
BRIEFING AND INVITATION TO THE WEBCAST
A result briefing for analysts and the media will be organized at Eliel studio in Sanomatalo, Töölönlahdenkatu 2, Helsinki on August 12, 2026, at 2:00 p.m. EEST. The Half-year Financial Report will be presented by President and CEO Mika Saariaho and CFO Ville Halttunen.
The presentation material will be available at www.raute.com > Investors > Reports and publications > Presentations and publications after the briefing.
The event will be held in English, and it can be followed by a live webcast at https://raute.events.inderes.com/q2-2026. After the presentation, it will be possible to ask questions via chat. The recording of the event will be available on the company's website later the same day.
NEXT REPORT:
Raute's Business Review January-September 2026 will be published on Friday, October 30, 2026.
FURTHER INFORMATION:
Mika Saariaho, President and CEO, tel. +358 40 154 9393
Ville Halttunen, CFO, mobile phone +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute acts as a partner for a sustainable future for the wood products industry. Our technologies cover various production processes as well as supporting digital and analyzer solutions for industrially manufactured wood products. In addition, we offer comprehensive service concepts from spare parts to regular maintenance and production modernizations. Our innovative technologies, software and service concepts are designed to support the efficient use of natural resources in our customers' production. Raute is the only turnkey supplier in the world that offers mill-wide technology solutions for veneer, plywood and LVL production. Raute's head office and largest production plant is located in Lahti. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, and in Pullman, WA, USA. Raute's net sales in 2025 were EUR 175.5 million. The Group's headcount at the end of 2025 was 698. More about Raute: www.raute.com.
