Company
Investors
Raute aims to ensure competitive returns for its investors. From the investor section you find Raute’s financial information as well as information about shares, investor relations, Raute’s governance and Raute as an investment.
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Lines & Machines
Lines
Whether your industry is veneer, plywood or LVL, there is always a "fit-to-your-need" line from Raute's own offering for any and all production processes starting from log handling, running through veneer production to plywood or LVL.
Machines
The core of production lines is made of machines. Many of Raute’s machines can be installed into existing lines as modernizations, also to other brand but Raute lines.
Analyzers
Making the most out of your raw material is made possible by modern analyzing systems. Intelligent analyzers make the right decisions at right time. Raute offers a wide variety of different types of analyzers for veneer, plywood, LVL, and lumber production.
Future-proof your mill.
Raute offers services worldwide to maintain existing veneer, plywood, and LVL production machinery and to improve the production.
The Group management and key employees participate in the company’s share-based long-term incentive plans. The purpose of the share-based incentive plans is to align the objectives of the owners and management in order to develop the company’s value, and to commit management to achieving the company’s strategic goals by offering a competitive long-term incentive plan.
Company’s Performance Share Plan currently includes three 3-year performance periods, calendar years 2020-2022, 2021-2023 and 2022-2024. The performance targets of the Performance Share Plan 2020-2022 are Earnings Per Share with a weight of 50 percent and Total Shareholder Return proportionate to the selected peer group with a weight of 50 percent. The performance targets of the plans 2021-2023 and 2022-2024 are Absolute Total Shareholder Return with a weight of 70 percent and net sales with a weight of 30 percent.
The company’s Board of Directors decides separately on when each plan commences, the length of its earnings period, the performance targets, the persons entitled to participate in the plan and the earnings opportunity.
In addition to the Performance Share Plan, Board of Directors of the company has established a Restricted Share Program as a complementary share-based long-term incentive scheme for the company. The program consists of annually commencing individual share plans and the on-going first individual plan covers the years 2022-2024. The commencement of each individual plan is conditional on a separate decision of the Board of Directors.
On March 22, 2023, Raute Corporation’s Board of Directors decided on the commencement of a long-term incentive plan for the Group’s senior management and selected key persons. The decision includes a Performance Share Plan (“PSP”) as the main structure and a restricted Share Plan (“RSP”) as a complementary structure. More information on the stock exchange release.
The rewards payable based on the Performance Share Plan and on the Restricted Share Program will at the company’s choice either be paid in listed A shares of Raute or in cash based on the value of the share reward at the time of payment. The payment of the reward is conditional on the individual’s continued employment or service relationship with Raute.
In accordance with the ownership recommendation of the company abides by, the members of the company’s Executive Board are expected to accrue and, after attaining, to retain in their ownership an amount of the company’s shares that equals, for the CEO, his/her gross annual fixed salary, and for the other Executive Board members, their six months’ gross fixed salary. The members of the Executive Board are expected to use 50 per cent of the net bonus he/she receives from the plan to accrue his/her share ownership until such ownership meets the recommended level.
LTI 2022–2024 commenced at the start of 2022 and covers an earnings period of three years, with two performance indicators applied. The first performance indicator is the Absolute Total Shareholder Return (Absolute TSR) on Raute’s A series share, and its weight is 70 percent. The second performance indicator is the net sales target, with a weight of 30 percent. Any possible rewards based on both performance indicators will be paid after the three-year plan ends and the financial statements have been completed, in spring of 2025, provided that the performance targets set by the Board of Directors have been achieved. The potential rewards will be paid in Raute’s series A shares or in cash, or as a combination thereof. Eleven persons belonging to Raute Group’s senior management are entitled to participate in the LTI 2022–2024 plan.
LTI 2021–2023 begins at the start of 2021 and covers an earnings period of three years, with two performance indicators applied. The first performance indicator is the Absolute Total Shareholder Return (Absolute TSR) on Raute’s A series share, and its weight is 70 percent. The second performance indicator is the net sales target, with a weight of 30 percent. Any possible rewards based on both performance indicators will be paid after the three-year plan ends and the financial statements have been completed, in spring of 2024, provided that the performance targets set by the Board of Directors have been achieved. The potential rewards will be paid in Raute’s series A shares or in cash, or as a combination thereof. Eleven persons belonging to Raute Group’s senior management are entitled to participate in the LTI 2021–2023 plan.
LTI 2020–2022 plan connenced at the start of 2020. The plan consists of a three-year earnings period based on two performance targets. One of the two performance targets is the Relative Total Shareholder Return (Relative TSR) of the series A share of Raute relative to a selected peer group and its weight is 50 per cent. The other performance target is the Earnings Per Share (EPS) and its weight similarly 50 per cent. Any rewards based on the performance targets will be paid in the spring of 2023 provided that the performance targets set by the Board of Directors are achieved. Twelve persons belonging to Raute Group’s top management are entitled to participate in the LTI 2020–2022 plan.
LTI Plan 2019–2021 commenced at the start of 2019. The plan consists of two parts. The first part consists of a three-year earnings period. Its weight is 50 per cent of the whole plan and the per-formance target is Total Shareholder Return (TSR) proportionate to the selected peer group. The second part consists of a one-year earnings period and the subsequent two-year vesting period. Its weight is 50 per cent of the whole plan and the performance tar-get is Earnings Per Share (EPS). Any rewards based on both parts will be paid in the spring of 2022 if the performance targets set by the Board of Directors are achieved. Eleven persons belonging to Raute Group’s top management, including the members of the Executive Board, are entitled to participate in the LTI 2019–2021 system.
Plan 2018–2020 commenced at the start of 2018. The plan consists of two parts. The first part consists of a three-year earn-ings period. Its weight is 80 per cent of the whole plan and the per-formance target is Total Shareholder Return (TSR) proportionate to the selected peer group. The second part consists of a one-year earnings period and the subsequent two-year vesting period. Its weight is 20 per cent of the whole plan and the performance target is Earnings Per Share (EPS). Any rewards based on both parts will be paid in the spring of 2021 if the performance targets set by the Board of Directors are achieved. Eleven persons belonging to Raute Group’s top management, including the members of the Executive Board, are entitled to participate in the LTI 2018-2020 system.
LTI Plan 2017–2019 commenced at the start of 2017. The plan consists of a one-year earnings period and the subsequent two-year vesting period. The bonuses will be paid in spring 2020 in cash. The plan covered, at the end of the financial year, altogether 11 persons belonging to the Group’s senior management, including the Group’s President and CEO and the members of the Executive Board. The performance targets are earnings per share (EPS) and growth in net sales.
On February 12, 2014, the Board of Directors of Raute Corporation decided on the establishment of a new long-term performance based share incentive program (Performance Share Plan) for Raute Group's top management.
The plan includes three individual share plans, commencing in 2014 (LTI2014), 2015 (LTI2015) and 2016 (LTI2016).
The length of each share plan is three years consisting of
During the restriction period the development of the value of the reward is based on the development of the value of the Company's share. The participant of the program may not sell or otherwise transfer the shares received as a reward during the restriction period.
The Board of Directors of the Company decided separately on the participants of each commencing share plan and on the performance criteria applicable to the performance period of each share plan, the target setting thereof and the target and maximum levels of the payable reward.
Terms and conditions of the Share-based incentive program 2014-2018
LTI2014 Share plan
The LTI2014 Share plan included 11 members of the Group's top management as participants, including the members of the Executive Board. The performance criteria of the share plan 2014 were earnings per share (EPS) and revenue growth. No share reward was paid for the earning period 2014.
LTI2015 Share plan
The LTI2015 Share plan included 11 members of the Group's top management as participants, including the members of the Executive Board. The performance criteria of the share plan 2015 were earnings per share (EPS) and revenue growth. The bonuses paid consisted of 14,523 of the company's series A shares. The corresponding tax portion was paid in cash. The vesting period has ended at the beginning of 2018.
LTI2016 Share plan
The LTI2016 Share plan 2016 includes 12 members of the Group's top management as participants, including the members of the Executive Board. The performance criteria of the share plan 2016 were earnings per share (EPS) and revenue growth. The bonuses paid consisted of 8,913 of the company's series A shares. The corresponding tax portion was paid in cash. The vesting period will end at the beginning of 2019.
The Annual General Meeting held on March 31, 2010 resolved to issue stock options to the key personnel of Raute Group. The stock options were offered to key personnel of Raute Group separately determined by the Board of Directors in 2010-2013. The stock options were issued free of charge. The total number of stock options was 240,000. Each stock option entitled the subscription for or acquisition of one (1) series A share. Of the stock options, a total of 80,000 were marked with the symbol 2010 A (2010), a total of 80,000 with the symbol 2010 B (2011) and a total of 75,000 with the symbol 2010 C (2012). A total of 80,000 series were subscribed for with stock options 2010 A during the period March 1, 2013 to March 31, 2016, 80,000 shares with stock options 2010 B during the period March 1, 2014 to March 31, 2017 and 75,000 shares with stock options 2010 C during the period March 1, 2015 to March 31, 2018. Terms and conditions of the 2010 option plan
On March 22, 2006, the Board of Directors of Raute Corporation approved ashare-based incentive plan. The earning period started on 1 January 2006 and ended on 31 December 2008.
The amount of the reward paid on the basis of the plan, was bound to Raute's operating profit (weight 75%) and on the evaluation of the Board of Directors' on e.g. the materialization of the strategy (weight +/- 25%). The reward from the plan was paid as combination of shares and cash payment.
On 27 March 2009, Raute Corporation conveyed 18,900 Raute's series A shares held by the company gratuitously to 17 key persons of the company's share-based incentive plan. The shares earned through the plan had to be held for a minimum of two years after the date of payment, until 23 March 2011.
Accordingly its rules, Raute Corporation's 1998 bond loan with warrants ended on 30 September 2006.
The last subscriptions of 115,300 pcs of series A shares with B warrants related to the 1998 Raute bond loan with warrants were made during August-September 2006.
The registration date of the shares was 2 November 2006. The new shares were traded on the Nordic list of Helsinki Stock Exchange together with the old shares on 3 November 2006.
The total amount of B warrants related to the Raute bond loan with warrants was 212,500 pcs. 22,350 pcs of warrants remained unsubscribed.
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