From the CEO
February 14, 2019
FOURTH RECORD YEAR IN A ROW
Our strong performance continued in the final quarter of the year, and we reached a record full-year result on many indicators for the fourth consecutive year. Our Q4 and full-year net sales were record-high. In addition to increasing our capacity and streamlining our operations, both our own organization and our entire partner network showed excellent flexibility. During the final quarter, capacity costs and preparing for the end-phase costs of a few projects lowered our relative profitability. Despite this, we are satisfied with our performance. In project business, even large quarterly variations are the norm.
During the final part of the year, no major new projects were started up despite active negotiations. For the full year, order intake was at an all-time high level, and our order book in early 2019 is strong. This is one more reason to be satisfied with the past year. The high order intake shows that our competitiveness is strong.
Demand for our technology and services alike remains good. The focus is increasingly shifting to customers that are new to Raute and to their new types of needs. We also expect our customers' decision-making, project implementation and progress to become more challenging from our perspective. We will continue investing in the development of our technology and our service offering and in our ability to serve the changing customer base both with products tailored to customer needs and by increasing our local presence. I am confident about our competitiveness and service capability even in a somewhat new situation.
Thanks to a strong existing order book, sustained brisk demand and our competitiveness-enhancing development projects, I believe that our solid performance will continue and that we will maintain last year's record level in both net sales and operating profit also in the current year.
I would like to express my sincerest thanks for the past year to everyone who made our success possible: to Raute's customers for their invaluable cooperation and trust, to our personnel for their outstanding work and strong commitment to executing major workloads, to our shareholders for their continued confidence in us, and to all our other partners for the part they played in furthering Raute's development and success.
President and CEO