Raute (RAUTE) Q1 2025 earnings summary

Executive summary

• Achieved record-high comparable EBITDA of EUR 7.4 million (14.3% margin) in Q1 2025, with net sales up 16.1% year-over-year to EUR 51.9 million, driven by strong operational execution and efficiency.

• Order intake declined to EUR 15 million (down 57.1% year-over-year), but order book remained solid at EUR 146 million, supported by large orders won in 2023.

• Challenging global market conditions, trade turbulence, and tariffs have delayed market recovery, with customers postponing investment decisions.

• Raised 2025 comparable EBITDA guidance in April due to better-than-expected project deliveries and a robust backlog.

Financial highlights

• Net sales reached EUR 51.9 million in Q1, up 16.1% year-over-year, with comparable EBITDA at a record EUR 7.4 million (14.3% margin).

• Operating profit improved to EUR 5.9 million (EUR 1.5 million Q1/2024), and earnings per share rose to EUR 0.69 (EUR 0.20 Q1/2024).

• Operating cash flow was EUR 2.8 million (Q1 2024: EUR -6.8 million); R12M operating cash flow EUR 23.7 million.

• Order intake was EUR 15 million, mainly from services, and order book stood at EUR 146 million at quarter-end.

• Equity ratio at 53.7% (Q1 2024: 49.7%), reflecting a strong balance sheet and liquidity.

Outlook and guidance

• Full-year 2025 net sales guidance maintained at EUR 190–220 million; comparable EBITDA guidance raised to EUR 20–27 million.

• Market recovery expected towards the end of 2025, with continued volatility and uncertainty in global trade and tariffs.

• Healthy backlog supports confidence in delivering a strong 2025.