Financial information

CEO's comments on the Business Review January 1–September 30, 2025, published October 30, 2025

Strong profitability and increased order intake Q3 2025

Raute delivered another solid quarter, marked by strong profitability and success in operational execution. Comparable EBITDA reached EUR 6.5 million, representing a margin of 15.0% of net sales. This strong operational performance was driven by continued improvements in efficiency and supply chain optimizations. Net sales experienced a decline, primarily due to typical fluctuations in revenue recognition and the low order intake during the first half of the year.

There were some signs of improving customer activity in the market, as we had predicted earlier. Consequently, our order intake for the third quarter rose to EUR 38 million, which represents a reasonable level considering no mill-sized orders were realized. While it is still difficult to estimate the extent of the market recovery due to ongoing global uncertainties, we expect market demand to improve going into 2026.

We remain committed to safeguarding our margins and enhancing competitiveness, both in the short and longer term. This is especially important because the low order intake in the first half of the year is likely to have an impact on our near-term revenue recognition and may require continuing capacity adjustments. For the longer term, we initiated a strategic restructuring of Raute's global manufacturing network earlier this year, aimed at increasing cost-effectiveness and flexibility.

Based on the strong profitability development achieved year-to-date, we have revised upwards the lower bound of our comparable EBITDA guidance. At the same time, we have lowered our net sales guidance, primarily due to the low order intake in the first half of the year and the deferral of some project deliveries into next year.

Looking ahead, I am confident that our significantly enhanced efficiency, agility, and commercial capabilities position us well to continue successful business execution and navigate through different business cycles.

Mika Saariaho
President and CEO