Raute recently issued another positive profit warning, according to which FY’25 revenue will be slightly lower than previously anticipated while comparable EBITDA will remain high in absolute and especially relative terms. Q3 results were clearly better than we estimated especially in terms of EBITDA margin while the EUR 38m order intake was also a positive surprise. There’s still global uncertainty affecting market demand, but it now seems Raute’s order book development could stabilize soon after being on a declining trend for almost two years.
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