Precious Woods Gabon
Increase in productivity and profitability
Production volumes in the saw mills increased by 6.4 %, reaching 20 316 m3 (previous year: 19 087 m3). In the veneer plant, volumes increased by 13.0 %, corresponding to production of 17 597 m3 (previous year: 15 573 m3). The two saw mills were negatively impacted in the first half-year by a planned maintenance interruption of 4 weeks each. Production in the second half-year will thus be higher.
Completed process optimizations, targeted investments, improvements in efficiency and productivity, and higher yield were seen in an increased operating result (EBITDA). At EUR 5.3 million, it was significantly higher than the comparison level (previous year: 3.2 million).
The logistical difficulties have hardly changed. The road from the saw mill to the port continues to be interrupted, resulting in a detour of about 140 km. Rail transport capacities were reduced due to maintenance. This resulted in minor delays which, however, were overcome. After the strike, the customs authorities worked only partially, leading to delayed and more difficult but ultimately fulfilled exports of sawn timber. The banks in Gabon were cooperative, although the financial situation of the government is very tense. A loan by the World Bank should allow the government to at least partially reduce the value added tax debt it owes companies.