Raute (RAUTE) Q3 2026 earnings summary

Executive summary

• Q3 order intake rose to EUR 53m from EUR 38m, driven by a EUR 31m Kohila Vineer OÜ plywood expansion order in Estonia; quarter-end order book was EUR 85m.

• Q3 net sales fell to EUR 29.0m and comparable EBITDA to EUR 3.2m as lower volumes weighed on results.

• 2026 guidance narrowed to net sales of EUR 125–135m and comparable EBITDA of EUR 13–16m.

Financial highlights

• Q3 net sales were EUR 29.0m, down 33.6% YoY; comparable EBITDA was EUR 3.2m, down 51.3%, with an 11.0% margin versus 15.0%.

• Q3 operating profit was EUR 2.0m versus EUR 5.1m; net result was EUR 1.5m versus EUR 3.9m.

• 9M net sales were EUR 95.4m, down 31.5%; comparable EBITDA was EUR 11.4m, down 44.2%, with an 11.9% margin versus 14.6%.

• Q3 comparable EPS was EUR 0.26 versus EUR 0.69; reported EPS was EUR 0.25 versus EUR 0.65. The effective tax rate was 20% versus 23%.

• Q3 operating cash flow was EUR 7.0m versus EUR -0.7m, supported by positive net working capital change and order-related prepayments.

Outlook and guidance

• 2026 net sales guidance narrowed to EUR 125–135m from EUR 125–145m; comparable EBITDA guidance narrowed to EUR 13–16m from EUR 11–18m.

• Order intake is expected to remain volatile between quarters; a sustained market recovery cannot yet be concluded.

• Deliveries for the EUR 31m Estonia project are scheduled for H2 2027 and Q1 2028, with production lines starting up gradually from autumn 2027.