Raute
Overview
Financial overview
Equity research
Raute’s Q1 showed how Wood Processing is to return to black after a string of challenging years. Services is to maintain its steady performance, while Analyzers remains at the core of Raute’s offering.
Raute’s Q1 results were a bit better than we estimated despite certain operational issues caused by political strikes in Finland as well as somewhat unfavorable sales mix due to a low Analyzers revenue.
Raute reports Q1 results on May 3. We estimate earnings to improve over the course of the year, driven by the order book.
Raute’s Q4 profitability didn’t meet our estimates as Wood Processing still lacked volume while development costs were also at an elevated level.
Raute’s Q4 figures were slightly mixed relative to our estimates as Services and Analyzers performed better than we expected while Wood Processing EBITDA declined by EUR 1m due to growth strategy development projects. Raute’s revenue landed above our estimate whereas profitability fell short.
Raute reports Q4 on Feb 15. FY ’23 order intake topped EUR 300m, which positions Raute for significant earnings growth at least this year and next despite some uncertainties.
Raute’s Q3, like its orders, showed twofold developments as margins were relatively high while market uncertainty has increased even further in Europe.
Raute’s Q3 revenue was meaningfully lower than we estimated, yet absolute profitability figures were still in line with our estimates as the company’s improvement program has produced results. Order intake was quite a bit lower than we estimated, but we believe Q4 orders should show at least some q/q improvement.
Raute reports Q3 results on Oct 26. Raute’s EBIT is bound to improve in the coming years, whereas short-term focus may lie more around smaller European equipment orders.
Raute’s Q2 showed mixed trends, yet the company proceeds with a very high order book and strategic developments.
Annual financials
Assets
Equity and liabilities
Cashflow
Environment
Social
Governance
Videos
Annual and sustainability reports
- Annual report 2021
- Annual report 2020
- Annual report 2019
- Annual report 2018
- Annual report 2017
- Annual report 2016
Company news
Raute Corporation, Inside information June 19, 2024, at 08:30 EEST
Inside information: Positive profit warning - Raute updates its guidance regarding net sales and profit
Raute updates its guidance regarding net sales and profit.
New guidance for 2024:
Raute's 2024 net sales are expected to be between EUR 185 - 210 million and comparable EBITDA to be between EUR 13 - 17 million.
Previous guidance for 2023: (published on February 15, 2024):
Raute's 2024 net sales are expected to be between EUR 170 - 195 million and comparable EBITDA to be between EUR 10 - 14 million.
Rationale for the new guidance:
Raute's strong order backlog has supported the positive business development despite the continued challenging market environment. Raute's project deliveries and services business have progressed better than anticipated, which has led to positive net sales and profit development during the second quarter. Therefore, Raute raises its guidance for both net sales and profit for the full year.
RAUTE CORPORATION
Mika Saariaho
President and CEO
FURTHER INFORMATION:
Mika Saariaho, President and CEO, tel. +358401549393
DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
Raute Corporation, Manager's transactions, May 7, 2024, at 9:00 a.m.
Raute Corporation - Manager's transactions - Halttunen Ville
____________________________________________
Person subject to the notification requirement
Name: Ville Halttunen
Position: Chief Financial Officer
Issuer: Raute Oyj
LEI: 743700G00629V99PE435
Notification type: INITIAL NOTIFICATION
Reference number: 61671/4/4
____________________________________________
Transaction date: 2024-05-06
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009004741
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 458 Unit price: 10.8 EUR
(2): Volume: 162 Unit price: 10.75 EUR
Aggregated transactions (2):
Volume: 620 Volume weighted average price: 10.78694 EUR
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
Raute Corporation, Manager's transactions, May 7, 2024, at 9:00 a.m.
Raute Corporation - Manager's transactions - Saariaho Mika
____________________________________________
Person subject to the notification requirement
Name: Saariaho, Mika Petteri
Position: Chief Executive Officer
Issuer: Raute Oyj
LEI: 743700G00629V99PE435
Notification type: INITIAL NOTIFICATION
Reference number: 61803/5/4
____________________________________________
Transaction date: 2024-05-06
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009004741
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 511 Unit price: 10.75 EUR
(2): Volume: 190 Unit price: 10.75 EUR
(3): Volume: 499 Unit price: 10.75 EUR
(4): Volume: 26 Unit price: 11.1 EUR
(5): Volume: 167 Unit price: 11.2 EUR
(6): Volume: 212 Unit price: 11.25 EUR
(7): Volume: 350 Unit price: 11.25 EUR
(8): Volume: 231 Unit price: 11.25 EUR
Aggregated transactions (8):
Volume: 2186 Volume weighted average price: 10.96992 EUR
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
RAUTE CORPORATION, INSIDER INFORMATION, 3.5.2024 AT 9:15 A.M.
The Board of Directors of Raute Corporation has decided to establish an Audit Committee and a People Committee.
Raute Corporation's Board of Directors has decided to establish an Audit Committee and a People Committee to support the work of the Board of Directors. In appointing the members of the committees, the Board of Directors has considered the expertise and experience required for the task.
At its constitutive meeting, the Board of Directors elected Mikko Kettunen as the Chair of the Audit Committee and Jenni Virnes, Joni Bask and Julius Manni were elected as members of the Audit Committee.
Laura Raitio was elected as a Chair of the People Committee and Ari Harmaala and Ari Piik as members of the People Committee.
The Board of Directors has also assessed the independence of its members. Joni Bask is assessed to be dependent on the company after more than 10 years on the Board of Directors, but he is independent of the company's significant shareholders. All other members of the Board of Directors are independent of the company and of the company's significant shareholders.
- monitor and evaluate the company's financial reporting system,
- monitor and evaluate the effectiveness of the company's internal control and audit and risk management systems,
- monitor and assess how contracts, agreements and other legal transactions concluded between the company and its related parties meet the requirements of ordinary course of business and market conditions,
- to monitor and evaluate the independence of the auditor and, in particular, the provision of non-audit services by the auditor,
- assess compliance with laws, regulations and company policies, and
- carry out other tasks for which the Board of Directors has granted the Committee authority.
- Preparation of the remuneration policy and remuneration report,
- Preparation of matters related to the appointment, dismissal, remuneration, pension, benefits and other material terms and conditions of employment of the CEO and other members of the Executive Board,
- Preparation of matters concerning Raute's long- and short-term incentive plans.
- Assessing the remuneration of the CEO and the Executive Board and ensuring the appropriateness of the total remuneration packages,
- Monitor the succession planning of the Executive Board
FURTHER INFORMATION:
Laura Raitio, Chair of Board of Directors tel. +358 50 386 0004
DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
RAUTE CORPORATION, INTERIM REPORT, MAY 3, 2024, AT 09:00 A.M.
Raute Corporation's interim report January 1-March 31, 2024: Good progress in project deliveries in challenging market environment
This is a summary of Raute's Interim financial report January 1-March 31, 2024. The complete report is attached to this release as a pdf file and is also available on the company's' website at www.raute.com.
RAUTE CORPORATION - INTERIM REPORT JANUARY 1-MARCH 31, 2024
January−March 2024
- Order intake was EUR 36 million (67)
- Order book was EUR 259 million (121) at the end of the reporting period
- Net sales were EUR 44.7 million (36.8)
- Comparable EBITDA was EUR 3.0 million (2.8), representing 6.7% (7.7) of net sales
- Operating profit was EUR 1.5 million (0.9)
- Earnings per share were EUR 0.20 (0.10)
- Equity ratio was 49.7% (41.4)
KEY FIGURES 1.1.-31.3.2024 1.1.-31.3.2023 1.1. -31.12.2023
Net sales, MEUR 44.7 36.8 145.4
Change in net 21.4 -4.5 -8.2
sales, %
Comparable EBITDA, 3.0 2.8 9.3
MEUR
Comparable EBITDA, 6.7 7.7 6.4
%
Operating profit, 1.5 0.9 1.9
MEUR
Operating profit, 3.3 2.3 1.3
% of net sales
Profit for the 1.3 0.8 1.4
period, MEUR
Profit for the 2.8 2.2 0.9
period, % of net
sales
Gross capital 0.4 0.9 4.5
expenditure, MEUR
% of net sales 0.9 2.4 3.1
Research and 1.4 1.3 5.2
development costs,
MEUR
% of net sales 3.2 3.5 3.6
Order book, MEUR 259 121 266
Order intake, MEUR 36 67 315
Personnel, at the 775 733 754
end of the period
Personnel, 772 707 749
effective, on
average
Personnel, on 770 751 754
average
President and CEO Mika Saariaho: Solid start for the year in Wood Processing and Services business units
We had a good start to the year with solid progress in project deliveries supported by our all-time high order book. However, the market environment remained uncertain as many of our customers were in a wait-and-see mode in relation to making firm investment decisions.
In the first quarter, comparable EBITDA developed in line with our expectations and was EUR 3.0 million, representing a margin of 6.7%. The result indicates improved efficiency of the underlying operations while considering that the comparison figure was positively impacted by the release of provisions related to the wind-down of the Russian operations.
I am particularly pleased with the performance of the Services business unit, where we have also developed a concept for performance-based maintenance offering. In the first quarter, we announced an agreement with Paged Group of Estonia. It is an excellent example of this concept, where we take full maintenance responsibility for the customer's production machinery, including spare parts, small upgrades, and process improvement work, to support the customer in ensuring optimized production.
The Wood Processing business also improved its performance by making good progress in the project deliveries of the mill-sized orders won last year. Meanwhile, Analyzers had a disappointing quarter due to the timing and delays of some deliveries. On the Group level, our costs were at a more normalized level after being elevated in the last quarter of 2023.
The political strikes in Finland had an impact on the operations of our main production site in Lahti. With good preparations we were able to mitigate the impacts of the strikes for the most part. However, there still was some negative impact on net sales and profitability.
Order intake in the first quarter was rather modest, excluding the mill-sized order received from Latvia's AmberBirch, and mainly consisted of service and modernization projects. Nevertheless, we can be very happy to have received yet another complete mill-sized order. This continues to demonstrate our strong offering and the continuous customer interest in these solutions over the business cycle, driven by sustainability needs.
Given our nearly record-high order book, we are in a good position to continue implementing Raute's growth strategy. We believe that Raute has a unique opportunity to capture new business opportunities in engineered wood product segments by combining our offering into innovative production solutions, powered by data and digital tools. In line with our newly announced values, we aim to Show the Way - Drive Change for positive development in our industry together with our customers. We will do this together as one team with our dedicated and skilled personnel.
BUSINESS ENVIRONMENT
The market uncertainty continued in January-March 2024. Although some weak signals of a slowly improving market sentiment might be seen, especially the demand for both hardwood and softwood plywood was at a modest level and pricing under pressure. The demand for LVL has remained more stable. This was reflected in the demand for Raute's customers' products.
While inflation has stabilized, the high interest rates and the overall economic uncertainty have slowed down the demand for the traditional end-product consuming industries such as construction and commercial vehicle production. Also, illegal Russian birch plywood with clearly lower prices entering the European market despite the sanctions affects the European birch plywood producers.
The impact of the lower end-product demand is clearly visible in Raute's customers' investment activity, which is mainly focusing on keeping the existing production facilities running. While this supports Raute's after-sales business, it clearly has a negative impact on the demand for new production lines and modernizations.
The highlight of the first quarter for Raute was the EUR 20 million order for a greenfield veneer mill machinery from AmberBirch in Latvia. This is again a good example of a long-term Raute customer investing in increasing their production capacity over the economic cycles.
GUIDANCE STATEMENT FOR 2024
Raute reiterates its guidance statement for 2024. Raute's 2024 net sales are expected to be between EUR 170-195 million and comparable EBITDA between EUR 10-14 million.
RAUTE CORPORATION
Board of Directors
BRIEFING
A briefing is organized for analysts, investors, and the media on May 3, 2024, at 2:00 p.m. at Scandic Simonkenttä Hotel, Simonkatu 9, Helsinki, Finland. The report is presented by President and CEO Mika Saariaho and CFO Ville Halttunen. The presentation language is Finnish. The event can also be followed online via Teams. Link will be sent to those who have registered by email; registrations at
NEXT INTERIM REPORT:
Raute Corporation's half-year financial report January 1-June 30, 2024, will be published on Thursday August 8, 2024.
FURTHER INFORMATION:
Mr. Mika Saariaho, President and CEO, tel. +358 40 154 9393
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, Main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
RAUTE CORPORATION, INVESTOR NEWS, 26 APRIL 2024, AT 10:00 A.M.
Publication of Raute Corporation's Q1 2024 Interim Report and invitation to a briefing
Raute Corporation will publish its Interim Report for January 1−March 31, 2024 (3 months) on Friday, May 3, 2024, at about 9 a.m. A briefing for analysts, investors and the media will be organized on the same day May 3, 2024, at 2:00−3:00 p.m.
Venue place: Scandic Simonkenttä Hotel, Simonkatu 9, Helsinki.
Please inform of your participation in the briefing at the latest on Tuesday, April 30, 2024, to Raute Corporation, Elina Suomalainen
You are welcome to hear about our Q1/2024 result, other current issues, and outlook for 2024. The presentation will be made by Raute Corporation's President and CEO Mika Saariaho and CFO Ville Halttunen. The presentation will be held in Finnish.
The briefing will be recorded, and the recording will be available at Raute's website www.raute.com on Tuesday, May 7, 2024, at the latest.
The Interim Report for January 1-March 31, 2024, will be available at www.raute.com on Friday, May 3, 2024, at about 9:00 a.m. The presentation material will be available at www.raute.com > Investors > Financial Information > Result Center on Friday, May 3, 2024, at 2:00 p.m. once the presentation starts.
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production plant are located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
RAUTE CORPORATION STOCK EXCHANGE RELEASE 4 APRIL 2024 AT 9.30 P.M.
DECISIONS OF RAUTE CORPORATION'S ANNUAL GENERAL MEETING 2024
Raute Corporation's Annual General Meeting was held in Lahti on 4 April 2024. The Annual General Meeting adopted the Financial Statements, approved the Remuneration Report and Remuneration Policy for Governing Bodies, and discharged the members of the Board of Directors and President and CEO from liability for the financial year 1 January to 31 December 2023.
Resolution on the use of the profit shown on the balance sheet and the distribution of dividend
The Annual General Meeting decided according to the proposal of the Board of Directors that a dividend of EUR0.10 per share will be distributed for the financial year 1 January to 31 December 2023. The dividend will be distributed to shareholders who, on the record date for dividend distribution, 8 April 2024, are registered in the shareholders' register of the company maintained by Euroclear FinlandOy. The dividend will be paid on 18 April 2024.
Resolution on the number and remuneration of the members of the Board of Directors
The number of members of the Board of Directors was resolved to be seven (7).
The Annual General Meeting decided that the remuneration to the Chair of the Board continues to be EUR 48,000 and to the Vice-Chair of the Board and Board members EUR 24,000 for the term of office. Reimbursement of expenses will be paid in accordance with the company's current travel policy.
If the Board of Directors were to establish separate Board committees, the following remuneration was decided for committee work:
- Meeting fee for committee work to the Chair of the Audit Committee EUR 1000 per meeting,
- The meeting fee for the chair of other possible committees and committee members is EUR 500 per meeting.
Election of the members of the Board of Directors
The Annual General Meeting elected the Board of Directors for the next term of office ending at the end of the Annual General Meeting in 2025. The Annual General Meeting elected Laura Raitio, Licentiate of Science (Technology), as the Chair of the Board of Directors andJoni Bask, M.Sc.(Tech.), as the Vice-Chair of the Board of Directors and Ari Harmaala, Engineer (Construction Technology), Ari Piik, B.Sc.(Econ.), Mikko Kettunen, M.Sc. (Econ.), Julius Manni, M.Sc. (Econ.) and Jenni Virnes, M.Sc. (Eng.) as members of the Board of Directors.
Election and remuneration of the auditor
The Annual General Meeting elected audit firm PricewaterhouseCoopersOy as the company's auditor, with Authorized Public Accountant (KHT) Mikko Nieminen as the principal auditor. It was resolved to pay the auditor's remuneration in accordance with an invoice approved by the company.
Election and remuneration of the sustainability auditor
The Annual General Meeting elected Authorized Sustainability Auditors PricewaterhouseCoopers Oy as the company's sustainability auditor with Authorized Sustainability Auditor (KRT) Mikko Nieminen as the sustainability auditor with principal responsibility. It was resolved to pay the sustainability auditor's remuneration in accordance with an invoice approved by the company.
Authorizing the Board of Directors to resolve on the acquisition of own shares
The Annual General Meeting decided to authorize the Board to resolve on the repurchase of a maximum of 600,000 of Raute Corporation's shares using assets from the company's non-restricted equity, which would lead to a decrease in the company's distributable funds.
The authorization entitles the Board to acquire the company's shares to be used for the development of the company's capital structure, as consideration for funding or carrying out any acquisitions or other arrangements, or to be otherwise disposed of or cancelled.
The purchase consideration paid for shares purchased by virtue of the authorization shall be based on the price of the company's share in public trading such that the minimum price of acquired shares is the lowest market price quoted in public trading during the term of validity of the authorization and, correspondingly, the maximum price is the highest market price quoted in public trading during the term of validity of the authorization.
The authorization includes the right to acquire shares in a directed manner, i.e., not in proportion to the holdings of the shareholders. A directed repurchase of the company's own shares can take place, for example, by acquiring shares in public trading on markets where, according to the regulations, the company is permitted to engage in the trade of its own shares. Repurchasing shares in public trading as mentioned above, or otherwise in a directed manner, requires that the company has a weighty financial reason to do so.
The Board of Directors is authorized to decide on other terms and conditions related to share repurchases.
This authorization shall replace the authorization granted by the Annual General Meeting of 30 March 2023, and is effective until the end of the next Annual General Meeting, or at the most for 18months following the decision of the Annual General Meeting.
Authorizing the Board of Directors to resolve on a share issue and the issuance of special rights entitling to shares
The Annual General Meeting decided to authorize the Board to resolve on an issue of Raute Corporation's shares and the issuance of special rights entitling to shares referred to in chapter10, section1 of the Finnish Companies Act in one or several instalments. The Board of Directors is authorized to resolve on all conditions of the share issue or the issuance of special rights, including the recipients and the sum of possible consideration to be paid.
The Board of Directors may, by virtue of the authorization, resolve to issue either new shares or treasury shares held by the company. The aggregate maximum number of shares that can be issued is 600,000 shares. Any shares to be issued based on special rights entitling to shares are included in the above-mentioned aggregate number of shares.
The authorization includes the right to deviate from the shareholders' pre-emptive rights, provided that the company has a weighty financial reason to do so. A directed share issue may be without payment only if a weighty financial reason exists in terms of the company, while considering the interests of all the shareholders. The authorization can be used, with the restrictions presented above to fund or carry out acquisitions or other arrangements or for other purposes decided by the Board of Directors.
The authorization is effective until the end of the next Annual General Meeting, or at the most for 18months following the resolution of the Annual General Meeting.
Minutes of the Annual General Meeting
The Minutes of the Annual General Meeting are available on Raute Corporation's website at www.raute.com > Investors > Corporate Governance > Annual General Meeting > Annual General Meeting 2024 at the latest on 18 April 2024.
FURTHER INFORMATION:
Mika Saariaho, President and CEO, mobile number +358 40154 9393
Ville Halttunen, CFO, mobile number +358 50 346 0868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
Raute Corporation, Managers' transactions, April 3, 2024, at 3:00 p.m.
Raute Corporation - Managers' transactions - Myyryläinen Jari
____________________________________________
Person subject to the notification requirement
Name: Myyryläinen, Jari
Position: Other senior manager
Issuer: Raute Corporation
LEI: 743700G00629V99PE435
Notification type: INITIAL NOTIFICATION
Reference number: 743700G00629V99PE435_20240402111118_3
____________________________________________
Transaction date: 2024-04-02
Venue not applicable
Instrument type: SHARE
ISIN: FI0009004741
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE
Transaction details
(1): Volume: 106 Unit price: 0.00 EUR
Aggregated transactions
(1): Volume: 106 Volume weighted average price: 0.00 EUR
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
Raute Corporation, Managers' transactions, April 3, 2024, at 3:00 p.m.
Raute Corporation - Managers' transactions - Roivainen Jani
____________________________________________
Person subject to the notification requirement
Name: Roivainen, Jani
Position: Other senior manager
Issuer: Raute Corporation
LEI: 743700G00629V99PE435
Notification type: INITIAL NOTIFICATION
Reference number: 743700G00629V99PE435_20240402111118_4
____________________________________________
Transaction date: 2024-04-02
Venue not applicable
Instrument type: SHARE
ISIN: FI0009004741
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE
Transaction details
(1): Volume: 232 Unit price: 0.00 EUR
Aggregated transactions
(1): Volume: 232 Volume weighted average price: 0.00 EUR
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
Raute Corporation, Managers' transactions, April 3, 2024, at 3:00 p.m.
Raute Corporation - Managers' transactions - Saariaho Mika
____________________________________________
Person subject to the notification requirement
Name: Saariaho, Mika
Position: Chief Executive Officer
Issuer: Raute Corporation
LEI: 743700G00629V99PE435
Notification type: INITIAL NOTIFICATION
Reference number: 743700G00629V99PE435_20240402111118_5
____________________________________________
Transaction date: 2024-04-02
Venue not applicable
Instrument type: SHARE
ISIN: FI0009004741
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE
Transaction details
(1): Volume: 277 Unit price: 0.00 EUR
Aggregated transactions
(1): Volume: 277 Volume weighted average price: 0.00 EUR
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
Raute Corporation, Managers' transactions, April 3, 2024, at 3:00 p.m.
Raute Corporation - Managers' transactions - Bossuyt Kurt
____________________________________________
Person subject to the notification requirement
Name: Bossuyt, Kurt
Position: Other senior manager
Issuer: Raute Corporation
LEI: 743700G00629V99PE435
Notification type: INITIAL NOTIFICATION
Reference number: 743700G00629V99PE435_20240402111118_2
____________________________________________
Transaction date: 2024-04-02
Venue not applicable
Instrument type: SHARE
ISIN: FI0009004741
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE
Transaction details
(1): Volume: 206 Unit price: 0.00 EUR
Aggregated transactions
(1): Volume: 206 Volume weighted average price: 0.00 EUR
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
RAUTE CORPORATION STOCK EXCHANGE RELEASE 3 APRIL 2024 AT 10.45 A.M.
Charges pressed against a member of the Board of Directors of Raute in a Ramirent Oyj related matter
According to the information that Raute Corporation has received today, the public prosecutor has decided to press charges related to suspected securities markets offences against Laura Raitio, who is a member of the Board at Raute Corporation. Charges have been pressed against several persons. Laura Raitio was a member of the Board at Ramirent Oyj during the period referred in the charges, in 2019. According to the information that Raute Corporation has received, Laura Raitio denies the accusation of the prosecutor.
The matter does not relate to Raute Corporation. The charges do not have an effect on the work of the Raute Board. The company monitors the progress of the proceedings and revisits the topic latest when the outcome of the proceedings has been determined.
RAUTE CORPORATION
Corporate Communications
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
Raute Corporation, Manager's transactions, March 18, 2024, at 5:30 p.m.
Raute Corporation - Manager's transactions - Saariaho Mika
____________________________________________
Person subject to the notification requirement
Name: Saariaho, Mika Petteri
Position: Chief Executive Officer
Issuer: Raute Corporation
LEI: 743700G00629V99PE435
Notification type: INITIAL NOTIFICATION
Reference number: 743700G00629V99PE435_20240318093343_1
____________________________________________
Transaction date: 2024-03-15
Venue not applicable
Instrument type: SHARE
ISIN: FI0009004741
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE
Transaction details
(1): Volume: 4386 Unit price: 0.00 EUR
Aggregated transactions
(1): Volume: 4386 Volume weighted average price: 0.00 EUR
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
RAUTE CORPORATION STOCK EXCHANGE RELEASE 8 MARCH 2024 AT 11.45 A.M.
RAUTE'S ANNUAL REPORT FOR 2023 HAS BEEN PUBLISHED
Raute Corporation has published its Annual Report 2023 in Finnish and English. The Annual Report contains a summary of the company's main events in 2023, a reviews by the President and CEO and for sustainability.
The report is attached to this release as pdf file and is also available on the company's website at www.raute.com > Investors > Financial Information > Result Center.
Raute's year 2023 financial statements and other reports have been published on February 22, 2024, and they are available in the same place on the company's website.
FURTHER INFORMATION:
Mr. Ville Halttunen, CFO, tel. +358 50 3460868
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
RAUTE CORPORATION STOCK EXCHANGE RELEASE 8 MARCH 2024 AT 10.30 A.M.
NOTICE OF RAUTE CORPORATION'S ANNUAL GENERAL MEETING
Raute Corporation's shareholders are invited to attend the company's Annual General Meeting, which will be held on Thursday, April4, 2024, at 6:00p.m. at Sibelius Hall, Ankkurikatu7, Lahti, Finland. The reception of the registered participants will begin at 5:00p.m.
Shareholders who have registered for the Annual General Meeting have the option to follow the Annual General Meeting online. It is not possible to ask questions, make counter-proposals, otherwise address the meeting or vote via the online stream. Following the meeting via the online stream is not considered participation in the Annual General Meeting or exercise of shareholder rights.
Shareholders have the opportunity to pose questions in advance concerning matters on the meeting's agenda.
More detailed instructions for shareholders can be found in this notice under sectionC. Instructions for those attending the Annual General Meeting.
A. MATTERS ON THE AGENDA OF THE ANNUAL GENERAL MEETING
At the Annual General Meeting, the following matters will be considered:
1. Opening of the meeting
2. Calling the meeting to order
3. Election of persons to scrutinise the minutes and to supervise the counting of votes
4. Recording the legality of the meeting
5. Recording the attendance at the meeting and adoption of the list of votes
6. Presentation of the Financial Statements, Consolidated Financial Statements, Board of Directors' Report and Auditor's Report for the financial year January1−December31, 2023
- Presentation of the review by the President and CEO
- Answers to questions posed in advance (to the extent possible)
The Financial Statements, the Board of Directors' Report and the Auditor's Report are available on the company's website at www.raute.com/investors/governance/general-meetings/annual-2024/.
7. Adoption of the Financial Statements and the Consolidated Financial Statements
8. Resolution on the use of the profit shown on the balance sheet and the distribution of dividend
The Board of Directors proposes that a dividend of EUR0.10 per share be distributed for the financial year January 1−December 31, 2023. The dividend shall be distributed to shareholders who, on the record date for dividend distribution, April8, 2024, are registered in the shareholders' register of the company maintained by Euroclear FinlandOy. The Board of Directors proposes that the dividend be paid on April18, 2024.
9. Resolution on discharging the members of the Board of Directors and the President and CEO from liability for the financial year January1−December31, 2023
10. Advisory resolution on the adoption of the remuneration report for governing bodies
The Board of Directors proposes the approval of the remuneration report for governing bodies. Pursuant to the Finnish Companies Act, the resolution of the Annual General Meeting is advisory.
The remuneration report for governing bodies is available on the company's website at www.raute.com/investors/governance/general-meetings/annual-2024/.
11. Consideration of the remuneration policy for governing bodies
The Board of Directors presents the remuneration policy for governing bodies for consideration at the Annual General Meeting. Pursuant to the Finnish Companies Act, the resolution of the Annual General Meeting is advisory.
The remuneration policy for governing bodies is attached to this notice as Appendix1 and available on the company's website at www.raute.com/investors/governance/general-meetings/annual-2024/.
12. Resolution on the remuneration of the members of the Board of Directors
The Shareholders' Nomination Board proposes that the remuneration of the members of the Board of Directors would be EUR 48,000 for the Chair of the Board of Directors and EUR 24,000 for the term of office for the members of the Board of Directors as before. If the Board of Directors were to establish separate Board committees, the following remuneration is proposed for committee work:
- Meeting fee for committee work to the Chair of the Audit Committee EUR 1000 per meeting,
- The meeting fee for the chair of other possible committees and committee members is EUR 500 per meeting.
Reimbursement of expenses shall be paid in accordance with the company's current travel policy.
13. Resolution on the number of members on the Board of Directors
The Shareholders' Nomination Board proposes that the company's Board of Directors consists of seven members.
14. Election of the members of the Board of Directors
The Shareholders' Nomination Board proposes thatLaura Raitio, Licentiate of Science (Technology), continues as the Chair of the Board of Directors andJoni Bask, M.Sc.(Tech.), be elected as the Vice-Chair of the Board of Directors. It is proposed thatAri Harmaala, Engineer (Construction Technology), andAri Piik, B.Sc.(Econ.), be re-elected as members of the Board of Directors.
In addition, the Nomination Board proposes thatMikko Kettunen,Julius Manni andJenni Virnes be elected as new members of the Board of Directors.
All candidates have given their consent to the positions.
Proposed new members are presented on the company's website at www.raute.com/investors/governance/general-meetings/annual-2024/.
15. Resolution on the remuneration payable to the auditor
The Board of Directors proposes that the auditor's remuneration be paid on the basis of invoice as approved by the company.
16. Election of the auditor
The Board of Directors proposes that the audit firm PricewaterhouseCoopersOy be re-elected as the company's auditor, with Authorised Public Accountant (KHT) Mikko Nieminen as the principal auditor.
17. Resolution on the remuneration payable to the sustainability auditor
The Board of Directors proposes that the sustainability auditor's remuneration be paid on the basis of invoice as approved by the company.
18. Election of the sustainability auditor
The Board of Directors proposes that Authorised Sustainability Auditors PricewaterhouseCoopers Oy be elected as the company's sustainability auditor with Authorised Sustainability Auditor (KRT) Mikko Nieminen as the sustainability auditor with principal responsibility.
19. Authorising the Board of Directors to resolve on the acquisition of own shares
The Board of Directors proposes that the Annual General Meeting authorise the Board to resolve on the repurchase of a maximum of 600,000 of Raute Corporation's shares using assets from the company's non-restricted equity, which would lead to a decrease in the company's distributable funds.
The authorisation would entitle the Board to acquire the company's shares to be used for the development of the company's capital structure, as consideration for funding or carrying out any acquisitions or other arrangements, or to be otherwise disposed of or cancelled.
The purchase consideration paid for shares purchased by virtue of the authorisation shall be based on the price of the company's share in public trading such that the minimum price of acquired shares is the lowest market price quoted in public trading during the term of validity of the authorisation and, correspondingly, the maximum price is the highest market price quoted in public trading during the term of validity of the authorisation.
The authorisation includes the right to acquire shares in a directed manner, i.e., not in proportion to the holdings of the shareholders. A directed repurchase of the company's own shares can take place, for example, by acquiring shares in public trading on markets where, according to the regulations, the company is permitted to engage in the trade of its own shares. Repurchasing shares in public trading as mentioned above, or otherwise in a directed manner, requires that the company has a weighty financial reason to do so.
The Board of Directors is authorised to decide on other terms and conditions related to share repurchases.
This authorisation shall replace the authorisation granted by the Annual General Meeting of March30, 2023, and is effective until the end of the next Annual General Meeting, or at the most for 18months following the decision of the Annual General Meeting.
20. Authorising the Board of Directors to resolve on a share issue and the issuance of special rights entitling to shares
The Board of Directors proposes that the Annual General Meeting authorise the Board to resolve on an issue of Raute Corporation's shares and the issuance of special rights entitling to shares referred to in chapter10, section1 of the Finnish Companies Act in one or several instalments. The Board of Directors is authorised to resolve on all conditions of the share issue or the issuance of special rights, including the recipients and the sum of possible consideration to be paid.
The Board of Directors may, by virtue of the authorisation, resolve to issue either new shares or treasury shares held by the company. The aggregate maximum number of shares that can be issued is 600,000 shares. Any shares to be issued based on special rights entitling to shares are included in the above-mentioned aggregate number of shares.
The Board of Directors proposes that the authorisation include the right to deviate from the shareholders' pre-emptive rights, provided that the company has a weighty financial reason to do so. A directed share issue may be without payment only if a weighty financial reason exists in terms of the company, while taking into account the interests of all the shareholders. The authorisation can be used, with the restrictions presented above, to fund or carry out acquisitions or other arrangements or for other purposes decided by the Board of Directors.
The authorisation is effective until the end of the next Annual General Meeting, or at the most for 18months following the resolution of the Annual General Meeting.
21. Closing the meeting
B. DOCUMENTS OF THE ANNUAL GENERAL MEETING
The aforementioned proposals for resolution on the matters on the agenda of the Annual General Meeting, the remuneration report, the remuneration policy, this notice of the Annual General Meeting and the company's Financial Statements, the Board of Directors' Report and the Auditor's Report are available on Raute's website at www.raute.com/investors/governance/general-meetings/annual-2024/. The proposals for resolution and other above-mentioned documents will also be available at the Annual General Meeting. The minutes of the Annual General Meeting will be available on the above-mentioned website by April18, 2024 at the latest.
C. INSTRUCTIONS FOR THOSE ATTENDING THE ANNUAL GENERAL MEETING
1. The right to participate and registration
To be entitled to attend the Annual General Meeting, shareholders must be registered in the shareholders' register of the company maintained by Euroclear FinlandOy on March21, 2024. A shareholder whose shares are registered in his or her personal Finnish book-entry account is registered in the shareholders' register of the company.
Registration for the Annual General Meeting will begin at 9:00a.m. on March11, 2024. A shareholder registered in the shareholders' register who wishes to participate in the Annual General Meeting must register for the meeting no later than by 4:00p.m. on March28, 2024. The registration must be received before the end of the registration period. Registration for the meeting can take place:
- online via the company's website at www.raute.com/investors/governance/general-meetings/annual-2024/,
- by mail to Innovatics Ltd, Annual General Meeting / Raute Corporation, Ratamestarinkatu 13 A, 00520Helsinki, Finland,
- by email to
- by calling at +35810 2818 909 on business days between 9:00a.m. and 12:00 noon and between 1:00p.m. and 4:00 p.m.
Online registration requires strong electronic identification by the shareholder or the shareholder's legal representative or proxy representative using Finnish or Swedish online banking credentials or a mobile certificate.
In connection with the registration, the shareholder is required to provide the requested personal information, such as the shareholder's name, date of birth or businessID, address, telephone number and email address as well as the name of a proxy representative or assistant, if any, and the date of birth of the proxy representative. The personal data disclosed to Raute Corporation or InnovaticsLtd by shareholders is only used in connection with the General Meeting and the processing of related necessary registrations.
Shareholders, or their representatives or proxy representatives, must be able to prove their identity and/or their right to represent a shareholder at the meeting venue if required.
Additional information on online registration is available by telephone during the registration period of the General Meeting by calling InnovaticsLtd at +358102818909 on business days between 9:00a.m. and 12:00noon and between 1:00p.m. and 4:00p.m.
2. Holders of nominee-registered shares
Holders of nominee-registered shares are entitled to participate in the Annual General Meeting by virtue of the shares based on which they would have the right to be registered in the shareholders' register maintained by Euroclear FinlandOy on the record date of the Annual General Meeting, March21, 2024. In addition, participation requires that the shareholder is, by virtue of these shares, temporarily registered into the shareholders' register maintained by Euroclear FinlandOy no later than by 10:00a.m. on March28, 2024. For nominee-registered shares, this constitutes registration for the Annual General Meeting. Changes in shareholding that take place after the record date of the Annual General Meeting do not affect the right to participate in the meeting or the number of votes held by the shareholder.
Holders of nominee-registered shares are invited to request the necessary instructions concerning temporary registration into the shareholders' register, the issuing of proxy documents and voting instructions, and registration for the meeting well in advance from their custodian banks. The account manager of the custodian bank shall temporarily register the holder of nominee-registered shares who wishes to attend the Annual General Meeting into the shareholders' register of the company at the latest by the time specified above. Additional information is also available on the company's website at www.raute.com/investors/governance/general-meetings/annual-2024/.
Taking into account any voting instructions issued by a holder of nominee-registered shares at the meeting requires that the shareholder has duly registered for the Annual General Meeting and that the shareholder is present at the meeting either in person or by way of proxy representation.
3. Use of proxy representatives and proxy documents
Shareholders are entitled to participate in and exercise their rights as shareholders at the Annual General Meeting through proxy representatives. Proxy representatives must present a dated proxy document or otherwise be able to reliably show that they are entitled to act in this capacity on behalf of a shareholder. The form Proxy Document for a General Meeting is available on the company's website at www.raute.com/investors/governance/general-meetings/annual-2024/. If a shareholder is represented in the Annual General Meeting by means of several proxy representatives representing the shareholder with shares in different securities accounts, notification of the shares based on which the proxies represent the shareholder must be given in connection with registration.
The proxy documents, if any, are requested to be delivered primarily as attachments in connection with online registration, or alternatively by post to the address Innovatics Ltd, Annual General Meeting / RauteCorporation, Ratamestarinkatu 13 A, 00520Helsinki, Finland, or by email to
The right of representation can be proven by using the Suomi.fi e-Authorizations service available in the online registration service.
4. Following the Annual General Meeting via online stream.
Shareholders who have registered for the Annual General Meeting but are not attending the meeting in person have the opportunity to follow the meeting in real time via an online stream. The speeches of the Chair of the Board of Directors and the President and CEO, as well as presentation material related to the other matters to be considered at the meeting will be recorded. It is not possible to request to take the floor or vote via the online stream. A link to the online stream and detailed instructions for following the meeting will be sent via email before the meeting to shareholders who have registered for the meeting.
5. Other instructions and information
The meeting will be held in Finnish.
Shareholders have the opportunity to pose questions in advance concerning matters on the meeting's agenda. Questions should be sent via email to
Pursuant to chapter5, section25 of the Finnish Companies Act, a shareholder who is present at the Annual General Meeting has the right to request information with respect to the matters to be considered at the meeting.
On the date of this notice, March8, 2024, the total number of shares in Raute Corporation is 6,122,679, representing an equal number of votes.
Lahti, March8, 2024
RAUTE CORPORATION
Board of Directors
Appendices:
Appendix 1Remuneration policy for governing bodies
FURTHER INFORMATION:
Laura Raitio, Chair of the Board of Directors, mobile number +358 50 386 0004
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF - Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers' efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute's head office and main production is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute's net sales in 2023 were EUR 145.4 million. The Group's headcount at the end of 2023 was 754. More information about the company can be found at www.raute.com.
| Shareholders | Date | % of Shares | % of Votes |
|---|---|---|---|
| Sundholm Göran Wilhelm | 31.01.2024 | 12.4% | 12.4% |
| Laakkonen Mikko Kalervo | 31.01.2024 | 2.8% | 2.8% |
| Mandatum Life Insurance Company Ltd. | 31.01.2024 | 2.2% | 2.2% |
| Stephen Industries Inc Oy | 31.01.2024 | 2.1% | 2.1% |
| Relander Pär-Gustaf | 31.01.2024 | 2% | 2% |
| Suominen Pekka Matias | 31.01.2024 | 1.9% | 1.9% |
| Siivonen Osku Pekka | 31.01.2024 | 1.8% | 1.8% |
| eQ Finland Investment Fund | 31.01.2024 | 1.7% | 1.7% |
| eQ Nordic Small Cap Mutual Fund | 31.01.2024 | 1.7% | 1.7% |
| Kirmo Kaisa Marketta | 31.01.2024 | 1.7% | 1.7% |
Equity Research Disclaimer
These research reports have been prepared by Evli Research Partners Plc (“ERP” or “Evli Research”). ERP is a subsidiary of Evli Plc.
None of the analysts contributing to this report, persons under their guardianship or corporations under their control have a position in the shares of the company or related securities. The date and time for any price of financial instruments mentioned in the recommendation refer to the previous trading day’s closing price(s) unless otherwise stated in the report. Each analyst responsible for the content of this report assures that the expressed views accurately reflect the personal views of each analyst on the covered companies and securities. Each analyst assures that (s)he has not been, nor are or will be, receiving direct or indirect compensation related to the specific recommendations or views contained in this report.
Companies in the Evli Group, affiliates or staff of companies in the Evli Group, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives) of any company mentioned in the publication or report. Neither ERP nor any company within the Evli Group have managed or co-managed a public offering of the company’s securities during the last 12 months prior to, received compensation for investment banking services from the company during the last 12 months prior to the publication of the research report.
ERP has signed an agreement with the issuer of the financial instruments mentioned in the recommendation, which includes production of research reports. This assignment has a limited economic and financial impact on ERP and/or Evli. Under the assignment ERP performs services including, but not limited to, arranging investor meetings or –events, investor relations communication advisory and production of research material. ERP or another company within the Evli Group does not have an agreement with the company to perform market making or liquidity providing services. For the prevention and avoidance of conflicts of interests with respect to this report, there is an information barrier (Chinese wall) between Investment Research and Corporate Finance units concerning unpublished investment banking services to the company. The remuneration of the analyst(s) is not tied directly or indirectly to investment banking transactions or other services performed by Evli Plc or any company within Evli Group.
This report is provided and intended for informational purposes only and may not be used or considered under any circumstances as an offer to sell or buy any securities or as advice to trade any securities.
This report is based on sources ERP considers to be correct and reliable. The sources include information providers Reuters and Bloomberg, stock-exchange releases from the companies and other company news, Statistics Finland and articles in newspapers and magazines. However, ERP does not guarantee the materialization, correctness, accuracy or completeness of the information, opinions, estimates or forecasts expressed or implied in the report. In addition, circumstantial changes may have an influence on opinions and estimates presented in this report. The opinions and estimates presented are valid at the moment of their publication and they can be changed without a separate announcement. Neither ERP nor any company within the Evli Group are responsible for amending, correcting or updating any information, opinions or estimates contained in this report. Neither ERP nor any company within the Evli Group will compensate any direct or consequential loss caused by or derived from the use of the information represented in this publication.
All information published in this report is for the original recipient’s private and internal use only. ERP reserves all rights to the report. No part of this publication may be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in any retrieval system of any nature, without the written permission of ERP.
This report or its copy may not be published or distributed in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore or South Africa. The publication or distribution of this report in certain other jurisdictions may also be restricted by law. Persons into whose possession this report comes are required to inform themselves about and to observe any such restrictions.
Evli Plc is not registered as a broker-dealer with the U. S. Securities and Exchange Commission (“SEC”), and it and its analysts are not subject to SEC rules on securities analysts’ certification as to the currency of their views reflected in the research report. Evli is not a member of the Financial Industry Regulatory Authority (“FINRA”). It and its securities analysts are not subject to FINRA’s rules on Communications with the Public and Research Analysts and Research Reports and the attendant requirements for fairness, balance and disclosure of potential conflicts of interest. This research report is only being offered in U.S. by Auerbach Grayson & Company, LLC (Auerbach Grayson) to Major U.S. Institutional Investors and is not available to, and should not be used by, any U.S. person or entity that is not a Major U.S. Institutional Investor. Auerbach Grayson is a broker-dealer registered with the U.S. Securities and Exchange Commission and is a member of the FINRA. U.S. entities seeking more information about any of the issuers or securities discussed in this report should contact Auerbach Grayson. The securities of non-U.S. issuers may not be registered with or subject to SEC reporting and other requirements.
ERP is not a supervised entity but its parent company Evli Plc is supervised by the Finnish Financial Supervision Authority.
Company Facts
Guidance
Raute’s 2024 revenue is expected to be between EUR 185-210m and comparable EBITDA in the range of EUR 13-17m
Financial targets
Schedule analyst call
For professional investors wishing to discuss the case, please book a complimentary analyst call
Book a call