Interim report
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HALF - YEAR FINANCIAL REPORT JANUARY JUNE 2026 RAUTE
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 2 | Raute Corporation — Half-year Financial Report January–June 2026: STRONG OPERATIONAL PERFORMANCE SUPPORTED PROFITABILITY IN A CONTINUED CHALLENGING MARKET April–June 2026 in brief •Order intake was EUR 18 million (12) •Order book was EUR 66 million (115) at the end of the reporting period •Net sales were EUR 33.0 million (43.8) •Comparable EBITDA was EUR 4.0 million (6.5), representing 12.0% (14.7%) of net sales •Comparable operating profit was EUR 2.7 million (4.9) •Operating profit was EUR 2.5 million (1.9) •Comparable earnings per share were EUR 0.36 (0.68) •Earnings per share were EUR 0.33 (0.19) •Equity ratio was 64.7% (60.0%) at the end of the reporting period January−June 2026 in brief •Order intake was EUR 35 million (27) •Net sales were EUR 66.5 million (95.7) •Comparable EBITDA was EUR 8.2 million (13.9), representing 12.3% (14.5%) of net sales •Comparable operating profit was EUR 5.7 million (10.9) •Operating profit was EUR 5.2 million (7.8) •Comparable earnings per share were EUR 0.69 (1.39) •Earnings per share were EUR 0.69 (0.88) Guidance statement for 2026 (Specified) Based on actual performance during the first half of 2026, as well as the current order backlog and market outlook, Raute specifies its financial guidance within the previously communicated range. Raute’s 2026 net sales are expected to be between EUR 125–145 million (EUR 175.5 million in 2025) and comparable EBITDA is expected to be between EUR 11–18 million (EUR 26.1 million in 2025). Previous guidance (April 30, 2026): Raute’s 2026 net sales are expected to be between EUR 125–160 million (EUR 175.5 million in 2025) and comparable EBITDA is expected to be between EUR 10–19 million (EUR 26.1 million in 2025). KEY FIGURES (MEUR) Q2/2026 Q2/2025 Change-% H1/2026 H1/2025 Change-% 2025 Net sales 33.0 43.8 -24.6 66.5 95.7 -30.5 175.5 Exported portion of net sales, % 73.5 54.9 71.8 56.1 60.2 Comparable EBITDA 4.0 6.5 -38.5 8.2 13.9 -40.9 26.1 Comparable EBITDA % 12.0 14.7 12.3 14.5 14.9 EBITDA 3.7 4.5 -16.4 7.8 11.7 -33.9 23.6 EBITDA % 11.3 10.2 11.7 12.3 13.4 Comparable operating profit 2.7 4.9 -44.7 5.7 10.9 -48.0 20.8 Comparable operating profit, % 8.2 11.2 8.5 11.4 11.8 Operating profit 2.5 1.9 28.3 5.2 7.8 -32.8 17.3 Operating profit, % 7.5 4.4 7.9 8.1 9.8 Net result 2.0 1.2 67.6 4.2 5.4 -21.9 12.9 Comparable EPS, EUR 0.36 0.68 -46.7 0.69 1.39 -50.4 2.7 EPS, EUR 0.33 0.19 71.7 0.69 0.88 -21.8 2.1 EPS (diluted), EUR 0.32 0.19 69.9 0.68 0.86 -20.6 2.1 Adjusted average number of shares, 1000 pcs 5,967 5,995 5,971 6,009 5,988 Adjusted average number of shares, diluted, 1000 pcs 6,202 6,023 6,211 6,313 6,279 Return on investment, (ROI), % 19.7 32.6 32.5 Return on equity, (ROE), % 15.2 21.8 24.0 Interest-bearing net liabilities -14.9 -28.6 -38.0 Equity ratio, % 64.7 60.0 65.7 Gearing, % -27.8 -57.0 -65.5 Gross capital expenditure 1.1 1.0 7.7 1.7 1.7 -0.1 4.6 % of net sales 3.3 2.3 2.5 1.8 2.6 Research and development costs 1.4 1.4 -4.2 2.6 2.8 -6.7 4.8 % of net sales 4.1 3.2 3.9 2.9 2.8 Order book 66 115 -42.7 98 Order intake 18 12 47 35 27 26.8 91 Personnel, at the end of the period 697 766 -9.0 698 Personnel, effective, on average 659 748 -11.9 662 754 -12.2 710
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 3 | CEO’s review In the second quarter of 2026, Raute continued to demonstrate strong operational execution in a market environment characterized by prolonged uncertainty and subdued customer investment activity. Economic uncertainty remained elevated across our key markets, and many customers continued to focus on cost savings and operational efficiency rather than new investments. As a result, order intake remained at a low level, as again certain orders were postponed into the coming quarters. Nevertheless, our ability to execute customer delivery projects efficiently supported profitability and highlighted the resilience of our business model. Raute’s order intake for the quarter amounted to EUR 18 million, compared with EUR 12 million in the comparison period. Net sales totaled EUR 33.0 million, down from EUR 43.8 million in the second quarter of 2025. Comparable EBITDA amounted to EUR 4.0 million, corresponding to 12.0% of net sales, compared with EUR 6.5 million and 14.7% in the comparison period. Profitability was supported by good progress in customer delivery projects, tight cost control and the release of certain project provisions. However, lower business volumes continued to weigh on earnings across the Group. The order book at the end of the quarter stood at EUR 66 million. Performance varied across our business units. In Wood Processing, profitability remained at a very good level despite lower business volumes, supported by successful project execution. In Services, customer activity remained subdued as many customers continued to seek savings in their daily operations. Consequently, sales volumes were lower than expected and profitability did not fully reflect the earnings potential of the business. In Analyzers, the quarter marked a clear profitability improvement compared with the low levels seen in previous quarters. Improved business volumes supported a recovery in profitability and demonstrated the underlying strength of the business. During the quarter, we continued to improve our operational capabilities across the Group. Our focus remained on disciplined execution, tight cost control, efficiency improvements and maintaining strong customer delivery performance. These efforts are particularly important in the current market environment and help ensure that Raute remains well positioned when investment activity eventually recovers. The strategic priorities we have communicated earlier remain unchanged, and we continue to advance them with determination despite the challenging market conditions. While the market environment remained difficult throughout the quarter, we have observed some signs of improving customer sentiment. However, these early indications have not yet translated into a broader recovery in order intake. The timing of a sustained improvement in customers’ investment activity therefore remains difficult to predict. In this environment, we continue to focus on operational excellence, margin management and the successful execution of our customer commitments. With a strong balance sheet and disciplined approach, Raute is well positioned to navigate the current uncertainty and capture opportunities when market conditions improve. Mika Saariaho President and CEO 51.9 43.8 43.7 36.2 33.5 33.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 Net sales 7.4 6.5 6.5 5.7 4.2 4.0 14.3 % 14.7 % 15.0 % 15.8 % 12.6 % 12.0 % 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Q1 2025 Q2 Q3 Q4 Q1 2026 Q2 Comparable EBITDA & margin
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 4 | BUSINESS ENVIRONMENT JANUARY–JUNE 2026 Raute’s business environment continued to be challenging during the second quarter of 2026. The sustained global economic and geopolitical uncertainty affected customers’ investment decisions negatively. As a result, the new order intake from Raute’s customers remained at low level during the second quarter of the year. In Europe, demand for engineered wood products remained mixed. While hardwood plywood demand picked up and exports from Nordic and Baltic producers approached some of the highest levels seen in recent years, the demand for softwood plywood was notably weaker, forcing producers continued to adjust their operations. In North America, elevated interest rates and housing affordability challenges continued to limit construction activity. Demand for structural wood panels in North America is expected to remain below the prior year’s level, although parts of the commodity market have shown early, tentative signs of price stabilization. Engineered wood products are primarily used in construction, with the furniture and transportation industries also representing significant end markets. Consequently, market demand is closely linked to the development of these industries. While expectations in the global construction industry continue to point to a gradual recovery, uncertainty remains elevated due to geopolitical tensions, inflationary pressures, and weak construction activity in several key markets. Despite the uncertain market environment, Raute’s customers in both Europe and North America, but also in Asia and Oceania, have continued preparations for future investments, particularly those aimed at improving production efficiency and competitiveness. Over the long term, investments are expected to be supported by increasing sustainability requirements, technological development, and demand for more efficient production processes. Raute’s competitive position is supported by its global presence, comprehensive technology and analytics offering, providing the capability to respond to sustainability-related requirements. Furthermore, Raute’s comprehensive service offering across the product life cycle supports customer relationships, creates opportunities for recurring business and helps mitigate cyclical fluctuations in capital equipment demand. Order intake and order book April–June 2026 Raute’s order intake was EUR 18 million (12) and included after-sales services, modernizations, upgrades and individual value-adding machinery and analyzers for veneer, plywood and LVL production. The order book amounted to EUR 66 million (115) at the end of the period. Order intake was composed of 30% (44%) from Europe, 46% (35%) from North America, 6% (6%) from Asia–Pacific and 18% (15%) from South America. Strong fluctuation in the distribution of new orders between the various markets and quarters is typical for a project-focused business. January–June 2026 Raute’s total order intake was EUR 35 million (27) and included after-sales services, modernizations, upgrades and individual value-adding machinery and analyzers for veneer, plywood and LVL production. Order intake was composed of 46% (46%) from Europe, 36% (37%) from North America, 4% (5%) from Asia–Pacific and 14% (12%) from South America. GROUP FINANCIAL PERFORMANCE APRIL–JUNE 2026 Net sales Net sales amounted to EUR 33.0 million (43.8), showing a decrease of 24.6% from the comparison period. Net sales were affected by a low order intake in recent quarters as well as reduced activity levels in customers’ operations. Sales decreased by 30.7% in Wood Processing, by 18.4% in Services, and increased by 10.9% in Analyzers. Europe accounted for 69% (74%) of net sales, North America for 19% (16%), South America for 6% (6%) and Asia-Pacific for 5% (3%). Result and profitability Comparable EBITDA was EUR 4.0 million (6.5) and comparable EBITDA margin was 12.0% (14.7%). Comparable EBITDA decreased in Wood Processing and Services mainly due to lower net sales but increased in Analyzers as a result of net sales growth. Profitability was supported in part by the reversal of certain project-related cost provisions. EBITDA was EUR 3.7 million (4.5). Items affecting comparability (IACs) in EBITDA totaled EUR -0.2 million (-2.0).
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 5 | Comparable operating profit was EUR 2.7 million (4.9), representing 8.2% (11.2%) of net sales. Operating profit was EUR 2.5 million (1.9). Items affecting comparability (IACs) in operating profit totaled EUR -0.2 million (-3.0). Net financial items were EUR 0.1 million (0.3). The result before taxes was EUR 2.5 million (2.3). The result for the reporting period was EUR 2.0 million (1.2), earnings per share were EUR 0.33 (0.19) and diluted earnings per share were EUR 0.32 (0.19). Comparable earnings per share were EUR 0.36 (0.68). GROUP FINANCIAL PERFORMANCE JANUARY–JUNE 2026 Net sales Net sales amounted to EUR 66.5 million (95.7), showing a decrease of 30.5% from the comparison period. While Raute’s project deliveries have continued successfully, net sales were affected by a low order intake in recent quarters as well as reduced activity levels in customers’ operations. Sales decreased by 35.8% in Wood Processing, by 18.7% in Services, and by 13.7% in Analyzers. Europe accounted for 68% (75%) of net sales, North America for 21% (17%), South America for 7% (5%) and Asia-Pacific for 4% (3%). Result and profitability Comparable EBITDA was EUR 8.2 million (13.9) and comparable EBITDA margin was 12.3% (14.5%). The decrease was mainly driven by lower net sales, while efficiency and execution in project deliveries remained strong. Profitability was supported in part by the reversal of certain project- related cost provisions. Comparable EBITDA decreased across all business units. EBITDA was EUR 7.8 million (11.7). Items affecting comparability (IACs) in EBITDA totaled EUR -0.4 million (-2.1). Comparable operating profit was EUR 5.7 million (10.9), representing 8.5% (11.4%) of net sales. Operating profit was EUR 5.2 million (7.8). Items affecting comparability (IACs) in operating profit totaled EUR -0.4 million (-3.1). Net financial items were EUR 0.1 million (0.3), where the decrease was mainly driven by lower interest income. The result before taxes was EUR 5.3 million (8.1). The result for the reporting period was EUR 4.2 million (5.4), earnings per share were EUR 0.69 (0.88) and diluted earnings per share were EUR 0.68 (0.86). Comparable earnings per share were EUR 0.69 (1.39). CASH FLOW AND FINANCING Operating cash flow in January–June 2026 was EUR -13.5 (-18.4) million. The cash flow was negatively impacted by the change in net working capital. Cash flow from investment activities totaled EUR -1.7 (-1.7) million, and cash flow from financing activities was EUR -8.4 (-5.6) million. Cash flow from financing activities in the reporting period included the EUR 3.0 million repayment of convertible junior loans and the EUR 3.9 million payment of dividends. Cash and cash equivalents amounted to EUR 16.7 (31.6) million at the end of the reporting period. Raute’s financial position remained at a strong level. At the end of the reporting period, gearing was -27.8% (-57.0%) and the equity ratio was 64.7% (60.0%). Interest-bearing net liabilities amounted to EUR -14.9 (-28.6) million at the end of the reporting period. During the first quarter Raute signed a new financing agreement. The credit facility was changed to EUR 15 million from the earlier EUR 5 million. At the end of the reporting period, the facility was not in use. Capital expenditure Capital expenditure in January–June 2026 totaled EUR 1.7 million (1.7) and accounted for 2.5% (1.8%) of net sales.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 6 | RESEARCH AND DEVELOPMENT COSTS Raute is a leading technology supplier for the plywood and LVL industries, focusing strongly on the development of increasingly efficient, productive, safe, and environmentally friendly manufacturing technologies, as well as supporting measurement and machine vision applications. New opportunities provided by digitalization are also an essential part of the R&D activities. In January–June 2026, the Group’s research and development costs amounted to EUR 2.6 million (2.8), representing 3.9% (2.9%) of net sales. PERSONNEL AND OCCUPATIONAL SAFETY At the end of the reporting period, the Group’s headcount was 697 (766). Compared to previous year, the reduction in headcount was due to the closure of the production facility in China in 2025 and other operational efficiency measures. Personnel outside of Finland accounted for 21.8% (27.3%) of all employees. In full-time-equivalent terms, the average number of employees during the reporting period was 662 (754). Occupational safety continues to be the focus of the management, and safety-related metrics have demonstrated a longer-term improvement trend. In January–June 2026, there were 5 (9) recordable injuries. The accident frequency (TRIF, rolling 12 months) was 8.9, decreasing from the prior year of 11.1. Raute has an ongoing global multi-year safety program to take the company’s safety culture and performance to the next level.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 7 | BUSINESS UNIT REVIEWS Wood Processing EUR million Q2/2026 Q2/2025 Change-% H1/2026 H1/2025 Change-% 2025 Net sales 21.1 30.4 -30.7% 43.9 68.3 -35.8% 124.3 Comparable EBITDA 2.7 4.2 -34.6% 6.3 9.7 -34.8% 18.4 Comparable EBITDA-% 12.9% 13.7% 14.4% 14.1% 14.8% April–June 2026 compared with April–June 2025 Net sales decreased by 30.7% to EUR 21.1 million (30.4). The decrease was mainly driven by a low order intake during the past quarters, resulting in lower project delivery volumes compared to the comparison period. Comparable EBITDA amounted to EUR 2.7 million (4.2). Profitability remained at a solid level despite the lower sales volumes, supported by continued focus on operational efficiency, cost control and reversal of certain positive project-related cost provisions. January–June 2026 compared with January–June 2025 Net sales decreased by 35.8% to EUR 43.9 million (68.3). The decrease was mainly driven by a low order intake during the past quarters, resulting in lower project delivery volumes compared to the comparison period. Comparable EBITDA amounted to EUR 6.3 million (9.7). Profitability was supported by active cost- saving measures, solid project execution and the reversal of certain project-related cost provisions, which mitigated the impact of lower net sales. Services EUR million Q2/2026 Q2/2025 Change-% H1/2026 H1/2025 Change-% 2025 Net sales 8.1 9.9 -18.4% 16.4 20.2 -18.7% 38.3 Comparable EBITDA 0.6 1.9 -67.0% 1.4 3.5 -59.6% 6.7 Comparable EBITDA-% 7.8% 19.4% 8.7% 17.4% 17.5% April–June 2026 compared with April–June 2025 Net sales decreased by 18.4% to EUR 8.1 million (9.9). The decrease was mainly driven by a low order intake during the past quarters. Challenging global market conditions have caused customers to implement cost-saving measures and postpone maintenance activities, impacting Services’ demand. Comparable EBITDA amounted to EUR 0.6 million (1.9). Comparable EBITDA decreased due to lower net sales, while operational expenses remained stable. January–June 2026 compared with January–June 2025 Net sales decreased by 18.7% to EUR 16.4 million (20.2). The decrease was mainly driven by a low order intake during the past quarters. Challenging global market conditions persisted throughout the first half of 2026, impacting customers’ operations and Services’ demand. Comparable EBITDA amounted to EUR 1.4 million (3.5). Comparable EBITDA decreased due to lower net sales, while operational expenses remained stable.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 8 | Analyzers EUR million Q2/2026 Q2/2025 Change-% H1/2026 H1/2025 Change-% 2025 Net sales 3.9 3.5 10.9% 6.2 7.2 -13.7% 13.0 Comparable EBITDA 0.6 0.4 62.6% 0.5 0.7 -31.8% 0.9 Comparable EBITDA-% 16.0% 10.9% 7.5% 9.5% 7.2% April–June 2026 compared with April–June 2025 Net sales increased by 10.9% to EUR 3.9 million (3.5). The increase was driven by solid execution and delivery of customer projects. Comparable EBITDA amounted to EUR 0.6 million (0.4). Comparable EBITDA increased due to higher net sales and disciplined cost management. January–June 2026 compared with January–June 2025 Net sales decreased by 13.7% to EUR 6.2 million (7.2). The decrease was driven by a low order intake in the first quarter. Comparable EBITDA amounted to EUR 0.5 million (0.7). Comparable EBITDA decreased due to lower net sales, while investments in product development continued as planned. STOCK EXCHANGE AND PRESS RELEASES IN JANUARY–JUNE 2026 Date Release January 27, 2026 Proposals of the Shareholders’ Nomination Board to Raute Corporation’s Annual General Meeting 2026 February 12, 2026 Raute Corporation’s Financial Statements Release January 1– December 31, 2025: Strong operational execution in a challenging market environment February 12, 2026 Raute continues its long-term incentive plan for senior management and key personnel February 12, 2026 Raute Corporation initiates share repurchase program March 11, 2026 Raute’s Financial Statements and Annual Report for 2025 have been published March 11, 2026 Notice to the Annual General Meeting 2026 of Raute Corporation March 31, 2026 Raute appoints Timo Kupsanen as EVP, Analyzers April 14, 2026 Decisions of Raute Corporation's Annual General Meeting 2026 April 14, 2026 Resolutions of the Constitutive Meeting of the Board of Directors of Raute Corporation April 30, 2026 Inside information, profit warning: Raute updates its guidance – Comparable EBITDA will remain in line with the previous guidance, although net sales will be lower than previously estimated May 5, 2026 Raute appoints Arto Kaikkola permanently as Chief Commercial Officer May 7, 2026 Raute’s Business Review January–March 2026: Operational performance continued strong, but market uncertainty did not ease May 7, 2026 Inside information: Raute to initiate change negotiations on possible temporary layoffs up to 90 days in Finland June 22, 2026 Raute Corporation has repaid its EUR 3.0 million convertible junior loans June 24, 2026 Changes in Raute Corporation's Executive Board
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 9 | GOVERNANCE Annual General Meeting 2026 Raute Corporation’s Annual General Meeting was held in Lahti on April 14, 2026. The Annual General Meeting adopted the financial statements for the financial year 2025 and discharged the members of the Board of Directors and the President and CEO from liability for the financial year 2025. The Annual General Meeting adopted the Remuneration Report 2025 for Governing Bodies and the Remuneration Policy for Governing Bodies through an advisory resolution. Further details and the full release on the resolutions are available at Decisions of Raute Corporation’s Annual General Meeting 2026 THE EXECUTIVE BOARD On March 31, 2026, Raute announced that M.Sc. (Tech) Timo Kupsanen has been appointed as EVP, Analyzers and a member of Executive Board of Raute Corporation as of May 1, 2026. On May 5, 2026, Raute announced that it has appointed Arto Kaikkola, M.Sc. (Industrial Engineering and Management) as Chief Commercial Officer (CCO) on a permanent basis, effective 5 May 2026. Since November 2025, Arto had served as Raute’s interim CCO. The members and their areas of responsibility on June 30, 2026, were: •Mika Saariaho, President and CEO •Jani Roivainen, Executive Vice President, Wood Processing – Wood Processing business unit •Kurt Bossuyt, Executive Vice President, Services – Services business unit •Timo Kupsanen, Executive Vice President, Analyzers – Analyzers business unit •Arto Kaikkola, Chief Commercial Officer (CCO) – Sales, marketing & communications, commercial excellence •Tarja Moilanen, Chief People Officer (CPO) – Human resources, people development, health & safety •Ville Halttunen, Chief Financial Officer (CFO) – Finance, ICT, IR, ESG, other business support STRATEGY AND FINANCIAL TARGETS Raute – Making Wood Matter Raute aims to grow its Services concept and strengthen its offering in Analyzers and Wood Processing with innovative production solutions and models, as well as data and digital tools in the global market for veneer, plywood, and LVL production technologies. Our aim is to accelerate growth by expanding Raute’s portfolio into new wood products segments, especially through digital and analytical solutions and new service concepts. Our commitment is to lead the industry towards a more sustainable future in engineered wood products. We have integrated sustainability as a fundamental aspect into our operations, balancing economic, social, and environmental considerations in our decision-making processes. Our unwavering principles of safety, ethical conduct, and diversity and inclusion guide us on our journey to generate growth for all our stakeholders with high ESG standards and deliver a lasting positive impact on nature and society. Raute’s financial targets for 2028 aligned with the strategy are: •Net sales 250 MEUR, including both organic and inorganic growth •Services and Analyzers’ relative share of net sales 40% of the Group •Comparable EBITDA margin 12% on average over cycle •Capital structure: Equity ratio over 40% Raute aims to pay a stable and sustainable dividend over different market conditions. SHARES AND SHARE CAPITAL Raute Corporation’s shares are listed on Nasdaq Helsinki Ltd. The trading code is RAUTE. All shares carry one vote and have equal voting rights in General Meetings. On June 30, 2026, Raute’s share capital amounted to EUR 8.3 million, and the total number of shares was 6,038,229 (6,122,679 on June 30, 2025). Raute initiated a share repurchase program on February 16, 2026. The maximum number of shares to be repurchased is 100,000 shares, corresponding to approximately 1.7% of the total number of shares. A maximum of EUR 1,500,000 will be used for the repurchase of shares. By June 30, 2026, 52,501 shares were purchased with the value of EUR 758,000. The number of shareholders totaled 7,069 at the end of the reporting period (7,195 on June 30, 2025). On June 30, 2026, Raute and its subsidiaries held 86,563 (148,116 on June 30, 2025) own shares corresponding to 1.4% (2.4% on June 30, 2025) of all outstanding shares. Share trading Share trading volume in January–June 2026 totaled 492,449 (901,967) shares, corresponding to EUR 7.3 (14.0) million. The highest trading price was EUR 16.10, and the lowest was EUR 13.75. The closing price at the end of the review period was EUR 15.65 (15.85), and the market value based on the closing price was approximately EUR 94.5 (97.0) million.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 10 | EVENTS AFTER THE REPORTING PERIOD Composition of Shareholders’ Nomination Board On August 3, 2026, Raute announced that the following members have been appointed to the company’s Shareholders’ Nomination Board: •Pekka Suominen (directly and indirectly by proxies) •Göran Sundholm •Mikko Laakkonen Laura Raitio, the Chair of the Board of Directors of Raute, serves as an expert on the Nomination Board without being a member. According to the charter of the shareholders’ nomination board, the Chair of the Board of Directors has requested the three largest shareholders in accordance with the situation on the last business day of July 2026, to appoint a member to the Nomination Board. The term of the members of the Nomination Board ends upon the appointment of new members of the Nomination Board in 2027. KEY BUSINESS RISKS Changes in the global economy and financial markets may have a negative impact on Raute’s operations, performance, financial position, and sources of capital. Raute is subject to geopolitical and macroeconomic conditions, where significant cost fluctuations and changes in interest rates may give rise to economic downturn. Such a downturn would likely impact Raute’s operations and reduce the underlying demand. Trade tariffs and the possible escalation of a trade war pose a risk for Raute as a company serving customers globally. Raute has production units in Europe, the United States and Canada, which reduces the impact of potential trade tariffs. The bulk of Raute’s business operations consists of project deliveries, which expose the company to risks caused by customer-specific and customized solutions related to each customer’s end product, production methods, or raw materials. At the quotation and negotiation phase, the company takes risks related to the promised performance and estimates of implementation costs. Other risks for Raute are related to inflation and the availability of raw materials, components, and freight. Also, union strikes may pose short-term risks for Raute. Raute’s business and products can be affected directly or indirectly by legislation or other regulations, such as sanctions. It is also possible that Raute is subject to litigation. At the end of 2023, Raute terminated all its remaining Russian project agreements. The liquidation of the Russian subsidiary Raute Service LLC was completed during the second quarter of 2026. Raute has implemented a new company-wide ERP system, which has a direct impact on the company’s daily operations and financial management. During the second quarter of 2026, the ERP system was successfully deployed in Canada, resulting in all major Raute sites operating on a common ERP platform. Consequently, the overall ERP-related implementation risk has decreased. However, challenges related to system stabilization, data quality, or process harmonization could still result in operational inefficiencies, additional costs, or temporary disruptions to customer delivery projects. The company’s IT systems may be affected by cyber security attacks, malfunctions, outages, or failures. These can lead to significant disruptions in the company’s business, have a material adverse effect on its reputation, and cause unexpected costs. Raute’s investments in the product development of new technologies are significant and involve the risk that a given project may not lead to a technologically or commercially acceptable solution. Raute has a strategy and related financial targets that aim for significant growth and profitability improvement by 2028. The company faces the risk that the execution of the strategy is not successful within the set timeline or that the set targets cannot be met. Raute may also experience increasing competitive pressures while executing its strategy. Raute is exposed to the risk of losing key personnel and difficulties in hiring new talent to address new business challenges. The most significant financing risks in the Group’s business operations are default risks and currency risks related to counterparties. The Group is also exposed to liquidity, refinancing, interest rate, and price risks. RAUTE CORPORATION Board of Directors
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 11 | Raute Corporation’s Board of Directors has approved this Half-year Financial Report for January–June 2026, to be published. This Half-year Financial Report is unaudited. Consolidated statement of income EUR 1,000 Note Q2/2026 Q2/2025 H1/2026 H1/2025 2025 Net sales 1 32,994 43,780 66,462 95,674 175,539 Change in inventories of finished goods and work in progress 668 -3,476 373 -3,739 -468 Other operating income 33 53 51 128 159 Materials and services -12,707 -17,631 -24,901 -42,570 -78,133 Employee benefits expense -13,067 -12,032 -25,988 -26,481 -50,757 Depreciation, amortization and impairment -1,258 -2,534 -2,515 -3,939 -6,306 Other operating expenses -4,192 -6,235 -8,247 -11,277 -22,779 Total operating expenses -31,223 -38,432 -61,650 -84,268 -157,975 Operating profit 2,471 1,926 5,236 7,795 17,255 Financial income 230 653 467 1,037 1,529 Financial expenses -199 -285 -397 -749 -1,181 Financial expenses, net 31 368 69 290 348 Result before tax 2,502 2,294 5,305 8,085 17,603 Income taxes -501 -1,100 -1,062 -2,649 -4,657 Result for the period 2,002 1,194 4,244 5,436 12,946 Result for the period attributable to Equity holders of the Parent company 2,002 1,194 4,244 5,436 12,946 Earnings per share for profit attributable to Equity holders of the Parent company, EUR Undiluted earnings per share 0.33 0.19 0.69 0.88 2.12 Diluted earnings per share 0.32 0.19 0.68 0.86 2.06 Consolidated statement of comprehensive income EUR 1,000 Q2/2026 Q2/2025 H1/2026 H1/2025 2025 Result for the period 2,002 1,194 4,244 5,436 12,946 Other comprehensive income items Items that will not be reclassified to profit or loss Changes in the fair value of financial assets at fair value through other comprehensive income - - - - 767 Items that may be subsequently reclassified to profit or loss Hedging reserve, hedge accounting -56 251 -159 499 303 Exchange differences on translating foreign operations -233 -432 -147 -512 -565 Deferred taxes related to these items - - - - - Comprehensive income items for the period, net of tax -290 -181 -306 -13 505 Comprehensive result for the period 1,712 1,013 3,938 5,423 13,451 Comprehensive profit for the period attributable to Equity holders of the Parent company 1,712 1,013 3,938 5,423 13,451
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 12 | Consolidated balance sheet EUR 1,000 Note H1/2026 H1/2025 2025 ASSETS Non-current assets Goodwill 8 1,714 1,714 1,714 Other intangible assets 5 8,702 9,804 9,154 Property, plant and equipment 6 9,465 7,961 9,344 Right of use assets 1,724 2,922 2,224 Other financial assets 997 231 997 Deferred tax assets 698 1,244 721 Total non-current assets 23,301 23,876 24,155 Current assets Inventories 18,259 20,726 15,439 Accounts receivables and other receivables 34,437 24,730 27,449 Income tax receivable 20 46 20 Cash and cash equivalents 16,678 31,634 40,272 Total current assets 69,394 77,137 83,181 TOTAL ASSETS 92,694 101,013 107,336 Consolidated balance sheet EUR 1,000 H1/2026 H1/2025 2025 EQUITY AND LIABILITIES Equity attributable to Equity holders of the Parent company Share capital 8,256 8,256 8,256 Own shares -1,117 -1,955 -701 Fair value reserve and other reserves 19,609 19,420 20,352 Exchange differences -820 -1,174 -1,190 Retained earnings 23,360 17,157 15,329 Result for the period 4,244 5,436 12,946 Total equity attributable to Equity holders of the Parent company 53,531 47,140 54,993 Convertible junior loan - 3,000 3,000 Total equity 53,531 50,140 57,993 Non-current liabilities Deferred tax liability 667 0 577 Lease liability 1,040 1,846 1,436 Provisions 1,477 298 1,145 Total non-current liabilities 3,184 2,144 3,157 Current liabilities Provisions 2,109 2,118 2,019 Lease liability 747 1,213 863 Current advance payments received 9,910 17,502 19,033 Income tax liability 2,508 1,574 2,375 Trade payables and other liabilities 20,705 26,322 21,896 Total current liabilities 35,979 48,729 46,186 Total liabilities 39,163 50,873 49,343 TOTAL EQUITY AND LIABILITIES 92,694 101,013 107,336
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 13 | Consolidated statement of cash flows EUR 1,000 H1/2026 H1/2025 2025 CASH FLOW FROM OPERATING ACTIVITIES Proceeds from customers 48,137 66,308 143,114 Other proceeds from operating activities 32 128 127 Payments to suppliers and employees -61,111 -84,436 -150,122 Cash flow before financial items and taxes -12,942 -18,000 -6,881 Interest paid from operating activities -186 -117 -244 Dividends received from operating activities 177 417 417 Interest received from operating activities 337 644 1,068 Other financing items from operating activities -256 -537 -1,051 Income taxes paid from operating activities -675 -804 313 Net cash flow from operating activities (A) -13,545 -18,398 -6,378 CASH FLOW FROM INVESTING ACTIVITIES Purchase of property, plant and equipment and intangible assets -1,679 -1,680 -4,468 Investments in shares 1 -118 -118 Proceeds from sale of property, plant and equipment and intangible assets - 95 330 Net cash flow from investing activities (B) -1,678 -1,703 -4,256 CASH FLOW FROM FINANCING ACTIVITIES Directed share issue and rights issue - - - Repayment of convertible junior loan -3,000 - - Expenses for share issues and junior loan -215 -161 -298 Repurchase of own shares -758 -1,254 -1,350 Proceeds from current borrowings - - - Repayments of current borrowings - - - Repayments of lease liability -494 -891 -1,449 Dividends paid -3,900 -3,320 -3,320 Net cash flow from financing activities (C) -8,367 -5,627 -6,417 Net change in cash and cash equivalents (A+B+C) -23,590 -25,728 -17,052 increase (+)/decrease (-) Cash and cash equivalents at the beginning of the financial period 40,272 57,503 57,503 Net change in cash and cash equivalents -23,590 -25,728 -17,052 Effects of exchange rate changes on cash -4 -142 -179 Cash and cash equivalents at the end of the financial period 16,678 31,634 40,272
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 14 | Consolidated statement of changes in shareholders’ equity EUR 1,000 Share capital Invested non- restricted equity reserve Own shares Other reserves Exchange differences Retained earnings To the equity holders of the Parent company Convertible junior loan TOTAL EQUITY EQUITY at Jan. 1, 2026 8,256 18,205 -701 2,148 -1,190 28,275 54,993 3,000 57,993 Comprehensive result for the financial year Result for the financial year 4,244 4,244 4,244 Changes in the fair value of financial assets at fair value through other comprehensive income Hedging reserve -159 -159 -159 Exchange differences on translating foreign operations 370 -516 -147 -147 Income taxes related to these items Total comprehensive result for the period 0 0 0 -159 370 3,727 3,938 0 3,938 Transfer of gain on disposals of equity investments at fair value through other comprehensive income to retained earnings Convertible junior loan -141 -141 -3,000 -3,141 Transactions with owners Share rewards -585 -357 -942 -942 Repurchase of own shares -417 -417 -417 Dividends paid -3,900 -3,900 -3,900 Total transactions with owners 0 0 -417 -585 0 -4,398 -5,400 -3,000 -8,400 EQUITY at Jun. 30, 2026 8,256 18,205 -1,117 1,404 -820 27,604 53,531 0 53,531
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 15 | Consolidated statement of changes in shareholders’ equity, comparison period EUR 1,000 Share capital Invested non- restricted equity reserve Own shares Other reserves Exchange differences Retained earnings To the equity holders of the Parent company Convertible junior loan TOTAL EQUITY EQUITY at Jan. 1, 2025 8,256 18,205 -950 1,216 613 19,351 46,692 3,000 49,692 Comprehensive result for the financial year Result for the financial year 5,436 5,436 5,436 Changes in the fair value of financial assets at fair value through other comprehensive income 0 0 Hedging reserve 499 499 499 Exchange differences on translating foreign operations -1,787 1,275 -512 -512 Income taxes related to these items 0 0 Total comprehensive result for the period 0 0 0 499 -1,787 6,711 5,423 0 5,423 Transfer of gain on disposals of equity investments at fair value through other comprehensive income to retained earnings Convertible junior loan -149 -149 -149 Transactions with owners 0 0 Share rewards 249 -499 -250 -250 Repurchase of own shares -1,254 -1,254 -1,254 Dividends paid -3,320 -3,320 -3,320 Total transactions with owners 0 0 -1,005 -499 0 -3,469 -4,974 0 -4,974 EQUITY at Jun. 30, 2025 8,256 18,205 -1,955 1,216 -1,174 22,592 47,140 3,000 50,140
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 16 | NOTES TO THE HALF-YEAR FINANCIAL REPORT Basic information Raute Group is a globally operating technology and service company serving the wood products industry, with core competence in selected wood products manufacturing processes. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL and sawn timber. Raute’s full-service concept is based on product life-cycle management and includes project deliveries and technology services. Raute’s technology offering covers machinery and equipment for the customer’s entire production process. In addition to a broad range of machines and equipment, Raute’s solutions cover technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations as well as consulting, training, reconditioned machinery and digital services. Raute Group’s parent company, Raute Corporation, is a Finnish public limited liability company established in accordance with Finnish law (Business ID FI01490726). Its shares are quoted on Nasdaq Helsinki Ltd, under Industrials. Raute Corporation is domiciled in Lahti. The address of its registered office is Rautetie 2, 15550 Nastola, Finland, and its postal address is P.O. Box 69, 15551 Nastola, Finland. All of the figures presented in the release are in thousand euro, unless otherwise stated. Due to the rounding of the figures in the financial statement tables, the sums of figures may deviate from the sum total presented in the table. Figures in parentheses refer to the corresponding figures in the comparison period. Accounting principles Raute Corporation’s half-year financial report for January 1–June 30, 2026, has been prepared in accordance with standard IAS 34 Interim Financial Reporting. The half-year financial report does not contain full notes or other information presented in the financial statements and therefore the report should be read in conjunction with the financial statements published for 2025. Raute Corporation’s half-year financial report for January 1–June 30, 2026, has been prepared in accordance with the International Financial Reporting Standards (IFRS) and the interpretations released accepted for application in the European Union. When preparing the interim report in compliance with International Financial Reporting Standards, the company management has made estimates and assumptions. In addition, the management has used discretion in the selection and application of accounting principles for the reporting period. The management’s estimates have been based on the best view at the time of the report, and they comprise risks and uncertainties, therefore actual results may differ from these estimates. IFRS standards that have been published and will be valid in future financial periods The upcoming accounting standards are not expected to have a significant impact on Raute Oyj, apart from IFRS 18, which is expected to have a significant effect on the information presented in the financial statements and the way this information is presented. The standard may be applied for financial years beginning on or after January 1, 2027 .
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 17 | NOTE 1 NET SALES Raute serves the wood products industry with a full-service concept based on technology solutions that cover the customer’s entire production process and services. Raute’s business consists of project deliveries and technology services. Project deliveries encompass projects from individual machine or production line deliveries to the deliveries of entire mill production process, covering all the required machines and equipment. Additionally, Raute’s full-service concept includes comprehensive technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations, as well as consulting, training, reconditioned machinery and digital services. Project deliveries and technology services related modernizations include sales of both products and services, therefore the split of group’s net sales into purely product and service sales cannot be presented reliably. Large mill or production line scale delivery projects can temporarily increase the share of an individual customer of the Group’s net sales to more than ten percent. At the end of the reporting period, the Group had two customers, whose customer-specific share of the Group’s net sales exceeded ten percent. EUR 1,000 Q2/2026 % Q2/2025 % H1/2026 % H1/2025 % 2025 % NET SALES Net sales by market area EMEA (Europe and Africa, excluding Finland) 14,079 43 12,907 29 26,454 40 29,545 31 59,314 34 EMEA (Finland) 8,752 27 19,757 45 18,719 28 41,972 44 69,917 40 NA (North America) 6,367 19 6,914 16 14,067 21 16,559 17 27,991 16 LAM (South America) 2,045 6 2,830 6 4,486 7 4,452 5 11,809 7 APAC (Asia-Pacific) 1,750 5 1,372 3 2,735 4 3,147 3 6,508 4 TOTAL 32,994 100 43,780 100 66,462 100 95,674 100 175,539 100 EUR 1,000 Q2/2026 Q2/2025 H1/2026 H1/2025 2025 Specification of net sales Performance obligations to be satisfied over time 22,971 32,537 46,700 72,524 130,437 Performance obligations to be satisfied at a point in time 10,023 11,243 19,763 23,151 45,102 TOTAL 32,994 43,780 66,462 95,674 175,539
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 18 | NOTE 2 SEGMENT REPORTING Raute Group’s operations fall into three segments: Wood Processing, Services and Analyzers. The highest operational decision-maker responsible for allocating resources to the operating segment and evaluating its results is Raute Corporation’s Board of Directors. Wood Processing business unit includes Raute’s core technology offering for veneer, plywood and LVL production. Delivery scope includes separate production equipment, modernizations, as well as full mill-scale projects, where Raute is a global market leader both in the plywood and LVL industries. Analyzers business unit serves customers with Raute’s latest measurement technology for sorting veneer, plywood and LVL, and special measurement equipment for sawn timber. Services business unit focuses on Raute’s full-service concept ranging from spare parts deliveries to regular maintenance, digital services and equipment upgrades. Based on Raute’s business model, nature of operations and management structure, the combined data of the three segments coincides with the entire group’s data, i.e. the income statement items from revenue to EBITDA and comparable EBITDA are allocated to the reportable segments. Raute Corporation’s Board of Directors does not monitor the assets and liabilities of the segments on a segment-by-segment basis, so investments, assets, and liabilities are presented only at the group level. Segment reporting follows the principles of preparing consolidated financial statements. Allocation keys are used for the allocation of common costs between the reported segments, which are generally based on annual budgeted sales or expenses. The Raute Group’s segments do not have inter-segment sales, but the sales is entirely from external customers. EUR 1,000 Q2/2026 Q2/2025 H1/2026 H1/2025 2025 SEGMENT INFORMATION Wood Processing Net sales 21,058 30,403 43,893 68,344 124,268 EBITDA 2,517 2,208 5,941 7,631 16,035 Items affecting comparability 198 1,944 358 2,026 2,389 Comparable EBITDA 2,714 4,152 6,299 9,657 18,424 Services Net sales 8,085 9,905 16,388 20,168 38,294 EBITDA 612 1,893 1,380 3,465 6,591 Items affecting comparability 22 26 43 53 104 Comparable EBITDA 634 1,919 1,423 3,518 6,695 Analyzers Net sales 3,851 3,472 6,181 7,164 12,977 EBITDA 600 359 430 639 935 Items affecting comparability 17 21 34 41 82 Comparable EBITDA 618 380 464 680 1,017 SEGMENTS TOTAL Net sales 32,994 43,780 66,462 95,675 175,539 EBITDA 3,729 4,459 7,751 11,735 23,561 Items affecting comparability 237 1,991 434 2,120 2,575 Comparable EBITDA 3,966 6,450 8,185 13,855 26,136
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 19 | Items affecting comparability EUR 1,000 Q2/2026 Q2/2025 H1/2026 H1/2025 2025 Comparable EBITDA 3,966 6,450 8,185 13,855 26,136 Restructuring costs -132 -1,863 -235 -1,878 -2,087 Costs related to new ERP system -105 -128 -199 -244 -488 Total items affecting comparability -237 -1,991 -434 -2,120 -2,575 EBITDA 3,729 4,459 7,751 11,735 23,561 Depreciations -1,258 -1,554 -2,515 -2,959 -5,349 Impairments - -981 - -981 -957 Operating result 2,471 1,926 5,236 7,796 17,255 Financing expenses, net 31 368 69 290 348 Result before tax 2,502 2,294 5,305 8,084 17,603 Operating Profit 2,471 1,926 5,236 7,796 17,255 Items affecting comparability in operating profit -237 -2,971 -434 -3,100 -3,533 Comparable operating profit 2,708 4,898 5,670 10,896 20,788 Raute considers items that affect comparability to be material and items that differ from normal business, related to restructuring costs and provisions and ERP renewal costs, impairments, gains and losses on the sale of assets, transaction costs related to combining business operations, litigation and arbitration costs. Items affecting comparability in 2026 include ERP renewal costs and restructuring costs. Items affecting comparability in 2025 mainly include impairment charges and restructuring costs and provisions related to the closure of the production unit in Changzhou, China. In addition, ERP renewal costs have been reported as an item affecting comparability.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 20 | Q2/2026 Q2/2025 EUR 1,000 Wood Processing Services Analyzers Total Wood Processing Services Analyzers Total Net sales by market area EMEA (Europe and Africa, excluding Finland) 10,574 2,738 768 14,079 8,768 3,007 1,132 12,907 EMEA (Finland) 6,909 1,070 773 8,752 18,010 1,014 733 19,757 NA (North America) 2,627 2,611 1,129 6,367 2,216 3,368 1,330 6,914 LAM (South America) 763 1,269 13 2,045 772 1,935 123 2,830 APAC (Asia–Pacific) 185 397 1,167 1,750 636 581 155 1,372 TOTAL 21,058 8,085 3,851 32,994 30,403 9,905 3,473 43,780 H1/2026 H1/2025 EUR 1,000 Wood Processing Services Analyzers Total Wood Processing Services Analyzers Total Net sales by market area EMEA (Europe and Africa, excluding Finland) 20,012 5,161 1,281 26,454 21,481 6,134 1,931 29,545 EMEA (Finland) 14,775 2,421 1,524 18,719 37,466 2,377 2,129 41,972 NA (North America) 7,169 5,264 1,634 14,067 6,869 7,306 2,383 16,559 LAM (South America) 1,752 2,604 131 4,486 1,217 3,058 178 4,452 APAC (Asia–Pacific) 185 939 1,611 2,735 1,311 1,293 543 3,147 TOTAL 43,893 16,388 6,181 66,462 68,343 20,168 7,164 95,674
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 21 | NOTE 3 EUR 1,000 Q2/2026 Q2/2025 H1/2026 H1/2025 2025 RESEARCH AND DEVELOPMENT COSTS Research and development costs for the financial year* -1,354 -1,403 -2,672 -2,968 -5,044 Depreciation of previously capitalized research and development costs** -102 -84 -204 -173 -348 Development costs recognized as an asset in the balance sheet 95 63 291 370 555 Research and development costs recognized as an expense for the financial year -1,361 -1,424 -2,585 -2,771 -4,837 Impairments of capitalized development costs Research and development costs recognized as an expense for the financial year -1,361 -1,424 -2,585 -2,771 -4,837 * Research and development expenses consist of the expenses of numerous R&D projects that do not meet the criteria for activation ** Depreciation in Other intangible assets is divided into two groups, Development costs and Other intangible assets
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 22 | NOTE 4 SHARE-BASED PAYMENTS There are three active long-term performance-based incentive plans for the Group’s top management. The company decided on the launch of the latest share value based long-term performance incentive program for the Group’s top management and selected key persons on February 12, 2026. The decision includes a Performance Share Plan (“PSP”) as the main structure and a restricted Share Plan (“RSP”) as a complementary structure. The purpose of the plan is to align the objectives of the owners and management in order to develop the company’s value for the long term, as well as to commit the company’s management and key persons to the company and to achieving the company’s strategic goals. PSP 2026–2028 began at the start of 2026 and covers an earnings period of three years, with two performance indicators applied. The first performance indicator is the EBITDA, and its weight is 70 percent. The second performance indicator is the net sales target, with a weight of 30 percent. Any possible rewards based on both performance indicators will be paid after the three-year plan ends and the financial statements have been completed, in spring of 2029, provided that the performance targets set by the Board of Directors have been achieved. The potential rewards will be paid in Raute’s shares or in cash, or as a combination thereof. Persons belonging to Raute Group’s Executive Board and selected key persons are entitled to participate in the PSP 2026– 2028 plan. The Board of Directors is entitled to limit the rewards paid under the long-term incentive plan PSP if the reward would exceed the threshold value of the fixed annual gross salary of the individual in question. If the participant’s service or employment relationship ends before the payment of the reward, the reward is generally not paid. If the performance targets set for the plan beginning at the start of 2026 are fully achieved, the aggregate maximum amount of rewards to be paid based on the plan in question will correspond to the value of approximately 95 000 the company’s shares. Aggregate amount of rewards means their gross amount before the withholding of the applicable payroll tax. The impact of the program on the result for the period 1 January-30 June 2026 was approximately EUR 21 thousand, and its total cost is estimated to be EUR 734 thousand. The Restricted Share Program consists of annually commencing individual share plans, each comprising a retention period with an overall length of three years. Each individual plan comprises an overall three-year plan period within which the company may grant fixed share rewards to individually selected key employees, including Raute Executive Board, with a retention period of up to three years. The share reward will be paid after the retention period applied to the respective individual share grant. The company may choose to pay the granted share rewards in one or several tranches within the limits of the overall three-year plan period. The RSP plan, covering the years 2026-2028, commences as of the beginning of the year 2026. The aggregate maximum number of shares which may become payable based on RSP 2026– 2028 is 68 000 shares (referring to gross reward from which the applicable payroll tax is withheld). In the first quarter of the financial year, the long-term incentive plan PSP 2023-2025 ended and the performance periods of the restricted share plan (RSP 2023-2025) ended, as a result of which the shares were paid in accordance with the performance conditions of the plans. A total of 89,595 shares were paid as gross remuneration. The earning conditions of the plans were an employment condition and separately defined performance criteria based on financial targets. The plans have been treated in their entirety as a share-based payment based on equity. In addition to the above-mentioned new programs, Raute has had performance-based incentive PSP 2024-2026 and PSP 2025-2027, as well as RSP 2024-2026 and RSP 2025-2027. No allocations have been made from RSP 2024-2026, RSP 2025-2027 or RSP 2026-2028. The descriptions of these programs are included in the financial statements for 2025. Total impact of share-based incentive plans on the reporting period’s result was EUR 142 (316) thousand. At the end of the reporting period, EUR 408 (929) thousand was allocated to the equity item from the share-based incentive plans in force.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 23 | NOTE 5 EUR 1,000 30.6.2026 30.6.2025 31.12.2025 OTHER INTANGIBLE ASSETS Acquisition cost at the beginning of the period 25,896 24,314 24,314 Exchange rate differences 11 -15 -15 Additions 683 1,167 1,596 Deductions - - - Acquisition cost at the end of the term 26,590 25,466 25,896 Accumulated depreciation and amortization -16,742 -14,395 -14,395 Exchange rate differences -9 15 12 Depreciation and amortization for the financial year -1,136 -1,282 -2,359 Accumulated depreciation and amortization at the end of term -17,888 -15,661 -16,742 Book value at the beginning of the period 9,154 9,919 9,919 Book value at the end of the period 8,702 9,804 9,154 NOTE 6 EUR 1,000 30.6.2026 30.6.2025 31.12.2025 PROPERLY, PLANT AND EQUIPMENT Acquisition cost at the beginning of the period 69,801 69,720 69,720 Exchange rate differences 164 -885 -666 Additions 997 514 2,872 Disposals/impairments - -1,897 -2,126 Reclassification between items - - - Acquisition cost at the end of the term 70,962 67,451 69,801 Accumulated depreciation and amortization -58,235 -54,597 -54,597 Exchange rate differences -159 563 258 Accumulated depreciation and amortization of disposals and reclassifications - - - Depreciation and amortization for the financial year -1,379 -2,533 -3,896 Accumulated depreciation and amortization at the end of term -59,773 -56,568 -58,235 Book value at the beginning of the period 11,568 15,125 15,125 Book value at the end of the period 11,189 10,883 11,568 NOTE 7 EUR 1,000 30.6.2026 30.6.2025 31.12.2025 RIGHT-OF-USE ASSETS Booking value at the beginning of the financial year 2,224 5,800 5,800 Exchange rate differences 7 -328 -313 Additions 18 151 380 Disposals 0 -1,817 -2,100 Depreciations -525 -550 -1,347 Impairments 0 - -196 Reclassification between items 0 - 0 Booking value at the end of the financial year 1,725 3,256 2,224 Right-of-use assets are included in balance sheet item Property plant and equipment. NOTE 8 EUR 1,000 30.6.2026 30.6.2025 31.12.2025 GOODWILL Goodwill at the beginning of the year 1,714 1,714 1,714 Increases - - - TOTAL 1,714 1,714 1,714 NOTE 9 EQUITY FINANCING INSTRUMENT Convertible perpetual loans are handled in IFRS accounting as equity as interest payments and repayments can be decided by the company. The related transaction costs are deducted from the equity. The loans are shown as a separate item in the equity. The junior loans do not confer on the holders the rights of a shareholder. The company has, on 22 June 2026, being the first date on which the repayment is permitted under the terms and conditions of the loans, repaid its convertible junior loans amounting to EUR 3.0 million, together with accrued but unpaid interest, in accordance with the terms and conditions of the loans. As a result of the repayment, the junior lenders’ right to convert the loans to a total of 261,296 Raute shares, and the option rights issued to the junior lenders to exercise that right, have expired.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 24 | NOTE 10 FINANCIAL ASSETS AND LIABILITIES Raute has a committed standby credit limit of 15.0 million euros and a total uncommitted bank guarantee limit of 45.0 million euros. The facility is valid until 2029. The overdraft limit was not in use at the period ending June 30, 2026. The arrangement is secured by Raute Oyj’s business mortgages in the amount of 91.0 million euros and real estate mortgages in the amount of 91.0 million euros. As collateral for the financing arrangement, Raute Corporation has pledged the shares of its Canadian subsidiary Raute Canada Ltd. The special conditions or covenants related to the financial indicators of the financing agreement are the Gross debt to EBITDA ratio and equity ratio. The covenants are reported to the lender quarterly. If the covenant conditions are not met, the creditor can demand accelerated repayment of the limits in use, and terminate the financing agreement. Covenant conditions were met at the end of the reporting period. At the end of the reporting period June 30, 2026, the fair value of the financial assets categorized at fair value hierarchy level 3 was EUR 997 thousand. The item includes the investments in unquoted shares which have been classified as financial assets at fair value through other comprehensive income. Derivative contracts have been classified as financial assets and liabilities at fair value through profit or loss. The fair value of these derivative contracts is based on the price available from the market data, but instruments are not traded in an active market. At the end of the period, financial assets did not include derivative contracts, and the fair value of the derivative contracts classified as financial liability was EUR 13 thousand. The Group’s interest-bearing liabilities include a lease liability amount of EUR 1,787 thousand at the end of the reporting period. EUR 1,000 30.6.2026 30.6.2025 31.12.2025 FINANCIAL ASSETS Financial assets at the beginning of the period 40,272 57,503 57,503 Change in financial assets -23,590 -25,728 -17,052 Exchange rate differences from financial assets -4 -142 -179 Financial assets at the end of the period 16,678 31,634 40,272 EUR 1,000 30.6.2026 30.6.2025 31.12.2025 Other financial assets Unquoted share investments 997 230 997 Total 997 230 997
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 25 | EUR 1,000 Carrying amount 30.6.2026 Carrying amount 30.6.2025 Carrying amount 31.12.2025 Carrying amounts of financial assets Financial assets at fair value through profit or loss - Derivative contracts - - - Financial assets at fair value through other comprehensive income - - - - Unquoted share investments 997 230 997 Financial assets at amortized cost - Account receivables and other receivables 7,154 10,202 7,166 - Cash and cash equivalents 16,678 31,634 40,272 Total 24,829 42,067 48,435 EUR 1,000 Level 1 (H1/2026) Level 1 (H1/2025) Level 2 (H1/2026) Level 2 (H1/2025) Level 3 (H1/2026) Level 3 (H1/2025) Total (H1/2026) Total (H1/2025) Hierarchy levels Financial assets at fair value through other comprehensive income - Unquoted share investments - - - - 997 230 997 230 Financial assets at fair value through profit or loss - Derivative contracts - - - - - - - - Total - - - - 997 230 997 230 Financial instruments at fair value are categorized according to standard. Instruments included in level 1 are traded in active markets. The fair values of these instruments are based on the quoted market prices at the balance sheet date. The fair value of the instruments included in level 2 is based on the price available from the market data but instruments are not traded in an active market. The fair value of the instruments included in level 3 is not based on the observable market data but is based on the estimates from the management.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 26 | EUR 1,000 Carrying amount 30.6.2026 Carrying amount 30.6.2025 Carrying amount 31.12.2025 Carrying amounts of financial liabilities Financial liabilities at fair value through profit or loss - Derivative contracts 13 5 -24 Financial liabilities recognized at amortized cost - Financial loans - - - - Account limit - - - - Trade payables and other liabilities 6,910 11,024 6,501 - Accrued expenses and prepaid income - - - Total 6,923 11,030 6,477 EUR 1,000 Level 1 (H1/2026) Level 1 (H1/2025) Level 2 (H1/2026) Level 2 (H1/2025) Level 3 (H1/2026) Level 3 (H1/2025) Total (H1/2026) Total (H1/2025) Hierarchy levels Financial assets at fair value through profit or loss - Derivative contracts - - 13 5 - - 13 5 Total - - 13 5 - - 13 5 Financial instruments at fair value are categorized according to standard. Instruments included in level 1 are traded in active markets. The fair values of these instruments are based on the quoted market prices at the balance sheet date. The fair value of the instruments included in level 2 is based on the price available from the market data but instruments are not traded in an active market. The fair value of the instruments included in level 3 is not based on the observable market data but is based on the estimates from the management.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 27 | NOTE 11 EUR 1,000 30.6.2026 30.6.2025 31.12.2025 DERIVATIVES Nominal values of forward contracts in foreign currency Hedge accounting - Related to the hedging of net sales 2,840 4,134 4,719 Derivatives which do not meet the criteria of hedge accounting - Related to financing -3,699 - - Fair values of forward contracts in foreign currency Hedge accounting - Related to the hedging of net sales -74 223 76 Derivatives which do not meet the criteria of hedge accounting - Related to financing 3 - - NOTE 12 EUR 1,000 30.6.2026 30.6.2025 31.12.2025 Mortgage agreements Business and real estate mortgages as collateral for credit and guarantee limits* 182,000 178,200 178,200 Total credit guarantee arrangements 182,000 178,200 178,200 Mortgage agreements on behalf of Group companies Financial loans - - - Other obligations - - - Other credit guarantee arrangements - - - Commercial bank guarantees on behalf of the Parent company and subsidiaries 7,357 34,144 20,798 Other own obligations Rental liabilities maturing within one year 181 320 270 Rental liabilities maturing in one to five years 146 287 217 Total 327 607 486 *Related to the financing arrangement described in Note no. 10.
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 28 | NOTE 13 CLAIMS AND CONTINGENCIES In the ordinary course of business, Raute is involved in various claims and legal disputes across multiple countries. These include product liability claims and issues related to Raute’s deliveries. Based on current information, Raute’s management does not expect the outcome of these lawsuits and disputes to have a material adverse effect on the company. This assessment considers the nature of the claims, existing provisions, applicable insurance coverage, and the overall scope of Raute’s business operations. During the first half of 2026, the arbitration proceedings initiated by Chongzuo Guanglin Difen New Materials Technology Co., Ltd. against Raute (Changzhou) Machinery Co., Ltd. were concluded in Raute’s favor. The arbitral tribunal rejected the claims against Raute, confirming the company’s view that the claims were unfounded and unsupported by either the facts or the contractual terms. Raute had fulfilled its contractual obligations under the agreement. NOTE 14 NUMBER OF PERSONNEL H1/2026 H1/2025 2025 Employed, persons Workers 204 235 215 Office staff 493 531 483 TOTAL 697 766 698 Personnel working abroad 152 209 160 Effective, on average, persons Workers 188 231 217 Office staff 474 523 493 TOTAL 662 754 710 Personnel working abroad, effective, on average 155 222 191 NOTE 15 EXCHANGE RATES USED IN THE CONSOLIDATION OF SUBSIDIARIES Income statement euro H1/2026 H1/2025 2025 CNY 8.0102 7.9266 8.1151 RUB 89.3147 93.1298 92.8926 CAD 1.6074 1.5403 1.5782 USD 1.167 1.093 1.129 SGD 1.4909 1.4463 1.4751 CLP 1,043.6883 1,042.6117 1,073.6275 IDR 20,074.324 18,162.179 18,760.113 JPY 184.4709 168.93 Balance sheet euro H1/2026 H1/2025 2025 CNY 7.7314 8.3939 8.2262 RUB 89.644 92.237 92.945 CAD 1.6220 1.5977 1.6088 USD 1.1394 1.1704 1.1750 SGD 1.4754 1.4933 1.5105 CLP 1,050.38 1,094.30 1,070.72 IDR 20,398.91 18,975.99 19,640.83 JPY 185.08 184.09
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 29 | NOTE 16 SHARE-RELATED DATA EUR 1,000 H1/2026 H1/2025 2025 Earnings per share, (EPS), undiluted, EUR 0.69 0.88 2.12 Earnings per share, (EPS), diluted, EUR 0.68 0.86 2.06 Equity to share, EUR 8.87 8.19 9.60 Dividend per share, EUR - - 0.65 Dividend per profit, % - - 30.7 Effective dividend return, % - - 4.3 Price/earnings ratio (P/E ratio) - - 6.89 Development in share price Lowest share price for the financial year, EUR 13.75 12.70 12.70 Highest share price for the financial year, EUR 16.10 17.70 17.70 Average share price for the financial year, EUR 14.74 15.52 15.32 Share price at the end of the financial year, EUR 15.65 15.85 15.10 Market value of capital stock at at the end of period 94.5 97.0 91.2 Trading of the company’s shares Shares traded during the financial year, pcs 492,449 901,967 1,419,177 Shares traded during the financial year, Me 7.3 14.0 21.7 Total number of shares Average number of shares, 1000 pcs. 6,038 6,123 6,087 Number of own shares, 1000 pcs. 68 114 99 Adjusted average number of shares, 1000 pcs 5,971 6,009 5,988 Adjusted average number of shares , diluted, 1,000 pcs 6,211 6,313 6,279 NUMBER OF SHAREHOLDER AT THE END OF PERIOD 7,069 7,195 7,299
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 30 | NOTE 17 DEVELOPMENT OF QUARTERLY RESULTS EUR 1,000 Q2/2026 Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 R12 Q2/2026 NET SALES 32,994 33,469 36,200 43,665 43,780 51,894 146,327 Change in inventories of finished goods and work in progress 668 -295 2,978 293 -3,476 -263 3,644 Other operating income 33 18 21 10 53 75 82 Materials and services -12,707 -12,194 -14,948 -20,614 -17,631 -24,940 -60,463 Employee benefits expense -13,067 -12,921 -11,928 -12,349 -12,032 -14,448 -50,265 Depreciation, amortization and impairment -1,258 -1,257 -1,173 -1,194 -2,534 -1,406 -4,882 Other operating expenses -4,192 -4,055 -6,787 -4,715 -6,235 -5,042 -19,749 Total operating expenses -31,223 -30,427 -34,836 -38,872 -38,432 -45,836 -135,358 OPERATING PROFIT 2,471 2,765 4,363 5,097 1,926 5,870 14,696 % of net sales 7.5 8.3 12.1 11.7 4.4 11.3 10.0 Financial income 230 237 170 322 653 385 959 Financial expenses -199 -198 -100 -332 -285 -464 -829 Financial expenses, net 31 38 69 -10 368 -79 128 RESULT BEFORE TAX 2,502 2,803 4,432 5,087 2,294 5,790 14,824 % of net sales 7.6 8.4 12.2 11.6 5.2 11.2 10.1 Income taxes -501 -561 -845 -1,163 -1,100 -1,549 -3,070 TOTAL RESULT FOR THE PERIOD 2,002 2,242 3,587 3,924 1,194 4,241 11,755 % of net sales 6.1 6.7 9.9 9.0 2.7 8.2 8.0 Attributable to Equity holders of the Parent company 2,002 2,242 3,587 3,924 1,194 4,241 11,755 Undiluted earnings per share, euros 0.33 0.37 0.59 0.65 0.19 0.69 1.94 Diluted earnings per share, euros 0.32 0.36 0.57 0.62 0.19 0.66 1.88 Adjusted average number of shares, 1 000 pcs 5,967 5,974 5,968 5,968 5,995 6,023 5,969 Adjusted average number of shares, diluted, 1 000 pcs 6,195 6,221 6,216 6,244 6,023 6,345 6,219 FINANCIAL DEVELOPMENT QUARTERLY Q2/2026 Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 R12 Q2/2026 Order intake during the period, EUR million 18 17 25 38 12 15 - Order book at the end of the period, EUR million 66 81 98 108 115 146 -
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 31 | NOTE 18 RECONCILIATION OF ALTERNATIVE PERFORMANCE MEASURES EUR 1,000 Q2/2026 Q1/2026 Q4/2025 Q3/2025 Q2/2025 Q1/2025 Q1-Q4/2025 R12 Q2/2026 Net result for the reporting period 2,002 2,242 3,587 3,924 1,194 4,241 12,946 11,755 Items affecting comparability Restructuring costs -132 -103 -57 -152 -1,863 -15 -2,087 -444 Costs related to new ERP system -105 -94 -145 -101 -128 -114 -488 -445 Items affecting comparability in EBITDA -237 -197 -202 -253 -1,991 -129 -2,575 -889 Impariments 24 -981 24 Items affecting comparability in operating profit -237 -197 -178 -253 -2,972 -129 -2,575 -865 Items affecting comparability in taxes 21 39 29 20 26 26 101 109 Items affecting comparability, total -216 -158 -149 -233 -2,946 -103 -3,431 -756 Comparable net result for the reporting period 2,218 2,400 3,736 4,156 4,140 4,344 16,376 12,510 Interest for junior loan, net of taxes -55 -58 -59 -60 -59 -59 -237 -232 Comparable net result for EPS calculation 2,163 2,342 3,677 4,096 4,081 4,285 16,139 12,278 Net result for EPS calculation 1,946 2,184 3,528 3,863 1,135 4,182 12,708 11,521 Number of shares (1,000) 6,038 6,038 6,038 6,066 6,123 6,123 6,087 6,045 Number of own shares (1,000) 71 64 71 99 128 100 99 76 Adjusted average number of shares basic (1,000) 5,967 5,974 5,968 5,968 5,995 6,023 5,988 5,969 Comparable EPS, basic (EUR) 0.36 0.40 0.62 0.69 0.68 0.71 2.70 2.06 EPS, basic (EUR) 0.33 0.37 0.59 0.65 0.19 0.69 2.12 1.93 Operating profit for the reporting period 2,471 2,765 4,363 5,097 1,926 5,869 17,255 14,696 Items affecting comparability in operating profit -237 -197 -178 -253 -2,972 -129 -3,533 -865 Comparable operating profit 2,708 2,962 4,541 5,350 4,898 5,998 20,788 15,561 % of sales 8.2 8.8 12.5 12.3 11.2 11.6 11.8 10.6
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 32 | SHAREHOLDERS AT JUNE 30, 2026, BY NUMBER OF SHARES Amount of shares, pcs % of total shares and voting rights 1. Sundholm Göran Wilhelm 756,250 12.52 2. Laakkonen Mikko Kalervo 255,335 4.23 3. eQ Finland Investment Fund 131,259 2.17 4. Mandatum Life Insurance Company Ltd 130,105 2.15 5. Stephen Industries Inc Oy 129,687 2.15 6. Suominen Pekka Matias 117,329 1.94 7. Siivonen Osku Pekka 106,901 1.77 8. Kirmo Kaisa Marketta 105,421 1.75 9. Mustakallio Mika Tapani 103,678 1.72 10. Keskiaho Kaija Leena 101,659 1.68 11. Särkijärvi Anna Riitta 98,986 1.64 12. Suominen Tiina Sini-Maria 95,221 1.58 13. Suominen Jussi Matias 74,626 1.24 14. Varma Mutual Pension Insurance Company 74,608 1.24 15. Relander Pär-Gustaf 72,700 1.20 16. Mustakallio Marja Helena 71,144 1.18 17. Särkijärvi Timo Juha 66,307 1.10 18. Mustakallio Kari Pauli 57,000 0.94 19. Kultanen Leea Annikka 56,252 0.93 20. Suominen Jukka Matias 52,924 0.88 20 largest shareholders total 2,657,392 44.01 Nominee-registered shares 168,406 2.79 Others 3,212,431 53.20 Total 6,038,229 100.00 MANAGEMENT’S SHAREHOLDING AT JUNE 30, 2026 Amount of shares, pcs % of total shares and voting rights Management's holding at June 30, 2026* Board of Directors 91,600 1.52% President and CEO 34,989 0.58% Members of the Executive Board (excl. President and CEO) 34,688 0.57% Total 161,277 2.67% *The figures include the holdings of their own, minor children and control entities
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HALF-YEAR FINANCIAL REPORT JANUARY–JUNE 2026 | AUGUST 12, 2026 | 33 | FURTHER INFORMATION Mika Saariaho, President and CEO, tel. +358 40 154 9393 Ville Halttunen, CFO, tel. +358 50 346 0868 BRIEFING AND INVITATION TO WEBCAST A result briefing for analysts and the media will be organized at Eliel studio in Sanomatalo, Töölönlahdenkatu 2, Helsinki on August 12, 2026, at 2:00 p.m. EEST. The Half-year Financial Report will be presented by President and CEO Mika Saariaho and CFO Ville Halttunen. The presentation material will be available at www.raute.com > Investors > Reports and publications > Presentations and publications after the briefing. The event will be held in English, and it can be followed by a live webcast at https://raute.events.inderes.com/q2-2026. After the presentation, it will be possible to ask questions via chat. The recording of the event will be available on the company’s website later the same day. FINANCIAL CALENDAR IN 2026 Raute will publish financial results in 2026 as follows: •Business review January–September 2026 on Friday, October 30, 2026 RAUTE IN BRIEF - Making Wood Matter Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer a full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers’ efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute’s head office and main production plant are located in Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, and Pullman, WA, USA. Raute’s net sales in 2025 were EUR 175,5 million. The Group’s headcount at the end of 2025 was 698. More information about the company can be found at www.raute.com.
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RAUTE CORPORATION Rautetie 2 P.O. Box 69 15551 Nastola, Finland Tel. +358 3 829 11 firstname.lastname@raute.com ir@raute.com www.raute.com