Raute Oyj Class A · OMXHEX:RAUTE
Raute Oyj Class A — Q3 2008 Earnings Presentation
20 slides from Raute Oyj Class A's earnings presentation, Oct 28, 2008
Slide 1: Interim report 1 January - 30 September 2008
Interim report 1 January - 30 September 2008 28 October 2008 Tapani Kiiski, President and CEO www.raute.com
Slide 2: Weakened demand
Weakened demand • The market situation for the plywood industry has weakened rapidly. – The demand has weakened clearly after the summer months in all market areas. – Production capacity has been adapted to meet the lower demand. – Prices are still at a normal level, but delivery times have shortene
Slide 3: Year to date
Year to date MEUR 1-9 2008 1-9 2007 • Net sales down by 6% Net sales 79.8 85.1 – Timing of project orders and low level Operating profit 6.1 6.2 of new orders during the first part of the year New orders: • Project 40 26 • Operating profit on last year’s level deliveries • Continued good profitabili
Slide 4: Q3 2008 results
Q3/2009 MEUR Q3 2008 Q3 2007 • The market situation of Raute’s Net sales 25.2 26.5 customers has weakened rapidly Operating profit 2.2 2.4 – Mills have been closed and production has been restricted in almost all New orders: markeat areas • Project 5 15 deliveries – Due to the low capacity utilizati
Slide 5: Income statement and key figures
Income statement and key figures MEUR 1-9 2008 1-9 2007 2007 Net sales 79.8 85.1 110.8 Operating profit 6.1 6.2 8.6 Financial income and expenses 0.4 0.3 0.4 Profit before tax 6.6 6.5 9.0 Income tax -2.0 -1.5 -2.4 Profit 4.5 5.0 6.6 Earnings per share, eur 1.14 1.24 1.65 Operating cash flow 13.7 -16
Slide 6: Balance sheet
Balance sheet MEUR 30.9.2008 30.9.2007 31.12.2007 Intangible 3.2 2.7 2.6 Tangible 10.9 11.9 11.0 Other non-current assets 1.0 0.7 0.7 Inventories 5.1 5.4 4.5 Receivables 20.9 28.8 24.7 Cash 18.7 4.6 11.3 Assets 59.7 54.1 54.8 Equity 34.3 31.5 33.2 Non-current liabilities 1.5 1.5 1.2 Customer deposit
Slide 7: Net sales
Net sales Q1 Q2 Q3 Q4 MEUR 120 100 80 60 40 20 0 2004 2005 2006 2007 2008 7 www.raute.com
Slide 8: Net sales by market area, %
Net sales by market area, % 1-9 2007 1-9 2008 South South Other Other America America 3% 2% Europe 5% 9% 26 % North America 10 % Europe 47 % North America Russia 24 % 36 % Russia 38 % 8 www.raute.com
Slide 9: Earnings per share and dividend
Earnings per share and dividend Earnings per share Dividend EUR 1,80 1,60 1,40 1,20 1,00 0,80 0,60 0,40 0,20 0,00 2004 2005 2006 2007 1-9 2007 1-9 2008 9 www.raute.com
Slide 10: New orders
New orders Q1 Q2 Q3 Q4 MEUR 140 120 100 80 60 40 20 0 2004 2005 2006 2007 2008 10 www.raute.com
Slide 11: Operating profit
Operating profit 1-3 1-6 1-9 1-12 MEUR 10,0 9,0 8,0 7,0 6,0 5,0 4,0 3,0 2,0 1,0 0,0 2004 2005 2006 2007 2008 11 www.raute.com
Slide 12: Operating cash flow
Operating cash flow 1-3 1-6 1-9 1-12 MEUR 20,0 15,0 10,0 5,0 0,0 2004 2005 2006 2007 2008 -5,0 -10,0 -15,0 -20,0 12 www.raute.com
Slide 13: Order book
Order book Q1 Q2 Q3 Q4 MEUR 90 80 70 60 50 40 30 20 10 0 2004 2005 2006 2007 2008 13 www.raute.com
Slide 14: Capital expenditure
Capital expenditure 1-12 1-9 MEUR 4,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0,0 2004 2005 2006 2007 1-9 2008 14 www.raute.com
Slide 15: R & D expenditure
R & D expenditure 1-12 1-9 % of net sales MEUR 5,0 6,0 % 4,5 5,0 % 4,0 3,5 4,0 % 3,0 2,5 3,0 % 2,0 2,0 % 1,5 1,0 1,0 % 0,5 0,0 0,0 % 2004 2005 1-9 2006 2007 1-9 2008 15 www.raute.com
Slide 16: Return on investment (ROI) Return on equity (ROE)
Return on investment (ROI) Return on equity (ROE) 1-12 ROI 1-9 ROI 1-12 ROE 1-9 ROE 35 % 30 % 25 % 20 % 15 % 10 % 5% 0% 2004 2005 2006 2007 1-9 2008 16 www.raute.com
Slide 17: Gearing
Gearing 0% -10 % -20 % -30 % -40 % -50 % -60 % -70 % -80 % -90 % 2004 2005 2006 2007 30.9.2008 17 www.raute.com
Slide 18: Equity ratio
Equity ratio 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0% 2004 2005 2006 2007 30.9.2008 18 www.raute.com
Slide 19: Outlook for 2008
Outlook for 2008 • Customer industries: • Raute: – The market situation has clearly – Order book on a low level. weakened after the summer months – Demand for project deliveries and also outside North America. technology services has lowered. – Investment decisions have been • Financial crisis and t
Slide 20: Contact information
Contact information Tapani Kiiski President and CEO +358 400 814 148 [email protected] Arja Hakala CFO +358 400 710 387 [email protected] www.raute.com