Profit warning: Raute Corporation’s net sales will decrease clearly from the year 2019

RAUTE CORPORATION INSIDE INFORMATION JANUARY 21, 2021 at 10:00 a.m.

PROFIT WARNING: RAUTE CORPORATION’S NET SALES WILL DECREASE CLEARLY FROM THE YEAR 2019

According to the preliminary, unaudited information Raute's net sales outlook for 2020 has weakened. Raute Group’s net sales for 2020 will decrease clearly from 2019. According to the preliminary information, Raute’s net sales for 2020 will be approximately EUR 115 million (2019: EUR 151.3 million). Previously the company has estimated net sales for 2020 to decrease compared to 2019. As previously estimated, operating profit will weaken clearly compared to 2019.

Raute will publish its financial statements release, as planned, on Friday February 12, 2021.  The company will give then more detailed information on its net sales and operating profit for 2020 and outlook for 2021.

RAUTE CORPORATION
Tapani Kiiski
President and CEO

FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, mobile phone +358 400 814 148
Ms. Tarja Järvinen, Group Vice President, Finance, CFO, mobile phone +358 40 658 3562

DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com

RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber. Its technology offering covers the entire production process for veneer, plywood and LVL and special measurement equipment for sawn timber. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in the Nastola area of Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, the Shanghai area of China and in Pullman, Washington, USA. More information about the company can be found at www.raute.com.