Raute Oyj Class A · OMXHEX:RAUTE
Raute Oyj Class A — FY2022 Earnings Presentation
20 slides from Raute Oyj Class A's earnings presentation, Feb 14, 2023
Slide 1: Financial Statements 2022
Financial Statements 2022 Mika Saariaho, President and CEO 14 February 2023
Slide 2: Where are we now
Where are we now • 2022 was a challenging year for Raute • Russia’s attack on Ukraine had a significant negative business impact • Other geographical regions (especially EMEA and North America) were doing well • Profitability recovered during H2 after significant losses in H1 • Raute’s new operative
Slide 3: Raute Q1−Q4 / 2022 in brief
Raute Q1−Q4 / 2022 in brief • Q4 Net sales increased by 4% vs previous year, Q4 Q1-Q4 Q1-Q4 YTD Net sales growth at 11% Key figures 2022 2022 2021 › Europe and North America growing strongly Net sales, M€ 45,7 158,3 142,2 › Latin America also positive development › APAC no growth realized Comparable
Slide 4: Order intake
Order intake South America Russia Asia– 6% 2% Pacific area 138 8% M€ M€ 250 North Europe America 47 % 200 37 % 150 100 50 • No new mill-size project 0 orders in 2022 2018 2019 2020 2021 2022 Q1 Q2 Q3 Q4 4 www.raute.com
Slide 5: Order book
Order book 84 M€ • Order book for other markets than Russia M€ 80 • Remaining order book for Russia M€ 4 Rest of world Russia 5 www.raute.com
Slide 6: Net sales
Net sales Services 23 % M€ 158,3 200 M€ Wood 180 Processing 68 % Analyzers 160 9% 140 120 100 Asia–Pacific South area 80 America 6% 6% 60 Russia North 21 % 40 America 24 % 20 0 2018 2019 2020 2021 2022 Q1 Q2 Q3 Q4 Europe 43 % 6 www.raute.com
Slide 7: Comparable EBITDA
Comparable EBITDA M€ YTD 8,0 -2,3 M€ 6,0 • Q4 Comparable EBITDA M€ 2.7 4,0 2,0 • Comparable EBITDA negatively 0,0 impacted by -2,0 • Reserves for ongoing Russian projects (M€ 6.3) -4,0 • Covid-19 lockdown in China -6,0 • High cost inflation for -8,0 materials and freights -10,0 -12,0 2021 2022 Q1 Q2
Slide 8: Operating profit
Operating profit M€ 20,0 • Q4 operating profit M€ 0.5 15,0 10,0 • Operating profit negatively impacted by 5,0 • Writedowns of terminated Russian projects (M€ 3.6) 0,0 • Restructuring costs and cloud- -5,0 based ERP implementation costs (M€ 3.9) -10,0 • Reserves for ongoing Russian -15,0 projects (M€
Slide 9: Segment performance
Segment performance Net Sales Comparable EBITDA 120,0 12,0 10,0 100,0 8,0 6,0 80,0 4,0 2,0 60,0 0,0 -2,0 40,0 -4,0 -6,0 20,0 -8,0 -10,0 0,0 -12,0 Wood Processing Analyzers Services Wood Processing Analyzers Services 2021 2022 2021 2022 9 www.raute.com
Slide 10: Capital expenditure and Depreciation and amortization
Capital expenditure and Depreciation and amortization M€ M€ 9 6,6 8 8 M€ 7 7 6 • Key items in Capex include 6 5 renewal project for ICT and 5 4 ERP systems and set up of 4 3 new production site in 3 Changzhou, China 2 2 1 1 0 0 2018 2019 2020 2021 2022 Capital expenditure Depreciation and amortizati
Slide 11: Research and Development
Research and Development M€ 6,3 % M€ 7 5 6 4 5 3 4 3 2 2 1 1 0 0 2018 2019 2020 2021 2022 R&D costs R&D costs, % of net sales 11 www.raute.com
Slide 12: Personnel
Personnel Headcount at the end of the period, in books 778 Others 6% 800 China 10% 700 600 500 North America 16% 400 300 200 Europe 68% 100 0 2018 2019 2020 2021 2022 12 www.raute.com
Slide 13: Income statement, Balance sheet and Key ratios
Income statement, Balance sheet and Key ratios Income statement, M€ 2022 2021 Balance sheet, M€ 31.12.2022 31.12.2021 Net sales 158,3 142,2 Goodwill 1,7 1,7 Operating result -14,6 -2,2 Other intangible assets 9,4 6,4 Financial expenses, net 0,8 0,5 Property, plant and equipment 11,2 11,5 Result befo
Slide 14: Earnings per share and Dividend
Earnings per share and Dividend €/Share % 3,00 2,78 7 2,00 1,80 6 1,40 1,45 5 1,00 0,80 4 - 3 -0,43 -0,42 -1,00 2 -2,00 1 -3,00 -2,70 0 2018 2019 2020 2021 2022 Earnings per share, undiluted Dividend Effective dividend return, % 14 www.raute.com
Slide 15: Equity and Return on equity (ROE)
Equity and Return on equity (ROE) M€ % 60 -40,4 30 % 20 50 10 40 0 30 -10 -20 20 -30 10 -40 0 -50 2018 2019 2020 2021 2022 Equity Return on equity (ROE) 15 www.raute.com
Slide 16: Shareholders
Shareholders Number of shareholders at the end of the period Nominee-registered 5 785 2,0 % Foreign shareholders 6 000 0,2 % Institutions 6,9 % Companies 5,5 % Households 82,3 % 5 000 Management 3,1 % 4 000 3 000 2 000 1 000 0 2018 2019 2020 2021 2022 16 www.raute.com
Slide 17: Market capitalization and Share price
Market capitalization and Share price M€ €, at the end of the period at the end of the period 120 35,2 30,00 € M€ 8,26 100 25,00 80 20,00 60 15,00 40 10,00 20 5,00 0 0,00 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Share price at the end of the period Market cap Average share price for the per
Slide 18: Outlook for 2023
Outlook for 2023 Business environment Raute • Market situation and outlook in the global • Wind-down of Russian operations will continue, economy, as well as in the financial markets has and most of the remaining volume is expected to become uncertain during last year be delivered during Q1/ 2023 •
Slide 19: Further information
Further information Mika Saariaho President and CEO +358 40 154 9393 [email protected] Minna Yrjönmäki Interim CFO +358 40 5702067 [email protected] 19 www.raute.com
Slide 20: Thank you for your interest!
Thank you for Follow us online: your interest! www.raute.com Twitter: @rautemachinery, @RauteOyj LinkedIn: Raute Oyj Youtube: www.youtube.com/RauteMachinery Facebook: Raute Corporation Instagram: @rautecorporation