RAUTE CORPORATION INSIDE INFORMATION 4 MARCH 2022 at 4:00 p.m.
THE IMPACTS OF THE RUSSIAN MILITARY ACTIONS ON RAUTE'S BUSINESS OPERATION IN RUSSIA
Raute has several large projects in progress to Russia. As reported earlier, Raute's entire order book at the beginning of 2022 totaled EUR 158 million and the order intake for 2021 was EUR 203 million. Of the new orders received in 2021, EUR 79 million (39%) came from Russia.
The execution of deliveries in the order book are regulated by the local laws in both countries, contractual commitments between Raute and the customers and in this situation, too, by various sanctions which have an impact on the logistics, financing and payment transactions of the deliveries. Raute will analyze the prerequisite and obligations of each project execution and will adjust its operations according to the situation. Due to the prevailing uncertainty, we have decided not to make any new agreements with the Russian operators.
Raute has approximately 40 employees in Russia. In addition, we have some Russian and Russian-background employees in various tasks in Finland. Raute will take care of the health, well-being and working conditions of its personnel everywhere.
President and CEO
Mr. Tapani Kiiski, President and CEO, tel. +358400814148
Ms. Tarja Järvinen, Executive Vice President, CFO, tel. +358 40658 3562
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 Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, the Shanghai/Changzhou area of China and in Pullman, Washington, USA. Raute's net sales in 2021 were EUR 142.2 million. The Group's headcount at the end of 2021 was 802. More information about the company can be found at www.raute.com.