Raute Corporation to withdraw its financial guidance for 2022

March 2, 2022

By: The Working Forest Staff

The sanctions and financial transaction restrictions resulting from Russia’s military actions in Ukraine are causing significant uncertainty in Raute’s business operations in Russia.

As reported earlier, Raute’s order book at the beginning of 2022 was EUR 158 million and the order intake for 2021 was EUR 203 million. Of the new orders received in 2021, 39% came from Russia.

Raute Corporation’s Board of Directors has decided to withdraw the 2022 financial guidance released on February 11, 2022. Due to the uncertain situation, the Board of Directors will not present new guidance for 2022 at the present time.

The earlier financial guidance, published in the financial statements release on February 11, 2022: “Raute’s net sales are expected to grow in 2022 and operating profit to improve from 2021.”

Raute’s Q1 interim report for January–March 2022 will be published on April 29, 2022

 

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