Raute: Strong earnings but weak orders - Evli

Raute’s EUR 43.8m Q2 top line came in clearly below our estimate, yet the EUR 6.5m comparable EBITDA was basically in line with our estimate as Wood Processing continued to deliver very high margins. The very low EUR 12m in new orders was a clear negative as equipment orders were almost completely lacking, yet Wood Processing and Analyzers should see demand recovery towards next year especially in Europe.

Länk till analysen i sin helhet: https://evli-website.files.svdcdn.com/production/research/Raute-250812-Earnings-flash.pdf