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27. Financial information by segment

The Group’s reportable segments are Sustainable Forest Management Brazil, Sustainable Forest Management Gabon, Trading and Carbon & Energy. Precious Woods’ forests in Brazil and Gabon are managed in a sustainable manner, which means that not more timber is harvested than can simultaneously grow back, and that the value of the forest is preserved. An integral part of Precious Woods’ approach to sustainable forestry is the use of waste wood to produce electricity and the registration and sale of carbon emission reductions (CERs).

Management monitors and evaluates EBITDA of all segments separately for the purpose of making decisions about resources to be allocated and of assessing performance.

Operating segments – 31 December 2018
in thousand EUR   Sustainable
Forest
Management
Brazil
  Sustainable
Forest
Management
Gabon
  Trading
  Carbon
& Energy
  Other
1
  Total
31.12.2018
Net revenues
 Third parties   11 631   29 293   4 664       45 588
 Intersegment   602         –602  
 Associated and related parties   761           761
Total net revenues   12 994   29 293   4 664     –602   46 349
 Profit/(loss) on sale of fixed assets and affiliates   23         1   24
 Share of profit of associates   270           270
EBITDA   1 608   5 526   433   –0   –2 456   5 111
 Depreciation and amortization   –417   –3 000       –18   –3 435
 Impairment charges/reversals   19           19
Profit/(loss) from operating activities (EBIT)   1 209   2 526   433   –0   –2 473   1 695
 Financial income and expenses   –901   –1 670   272     –452   –2 751
Earnings before tax                     –1 056
 Income taxes   –310   –332   –50     31   –661
                         
Segment assets   21 736   48 052   2 887   479   281   73 434
 Investments in associates   799           799
 Capital expenditures   980   4 019       18   5 017
Segment liabilities   51 664   37 515   1 282   224   –33 105   57 580
1 The eliminations and adjustments consist of the intersegment eliminations and the results from Precious Woods Holding Ltd, the Luxembourg entities and Precious Woods Management Ltd, which are not allocated to a specific segment.
Operating segments – 31 December 2017
in thousand EUR   Sustainable
Forest
Management
Brazil
  Sustainable
Forest
Management
Gabon
  Trading
  Carbon
& Energy
  Other
1
  Total
31.12.2017
Net revenues
 Third parties   8 656   30 674   4 351   393     44 073
 Intersegment   271   34   67     –372  
 Associated and related parties   924           924
Total net revenues   9 851   30 708   4 417   393   –372   44 997
 Profit/(loss) on sale of fixed assets and affiliates   10   23   31       64
 Share of profit of associates   46           46
EBITDA   117   9 927   500   118   –2 452   8 210
 Depreciation and amortization   –454   –4 230       –15   –4 699
 Impairment charges   18           18
Profit/(loss) from operating activities (EBIT)   –319   5 697   500   118   –2 467   3 529
 Financial income and expenses   –894   –1 503   –22     663   –1 756
Earnings before tax                     1 774
 Income taxes   –488   375   –7     –11   –131
                         
Segment assets   23 168   44 987   2 776   261   213   71 405
 Investments in associates   765           765
 Capital expenditures   686   3 263       2   3 951
Segment liabilities   49 865   33 931   1 089   117   –33 693   51 310
1 The eliminations and adjustments consist of the intersegment eliminations and the results from Precious Woods Holding Ltd, the Luxembourg entities and Precious Woods Management Ltd, which are not allocated to a specific segment.
Geographic information
in thousand EUR       2018       2017
Net revenues
Switzerland   67   0.1%   126   0.3%
European Union   28 318   61.1%   24 765   55.5%
Latin America   1 666   3.6%   1 510   3.4%
Africa   6 970   15.0%   6 602   14.8%
Asia   8 352   18.0%   10 475   23.5%
Other countries   976   2.1%   1 126   2.5%
Total   46 349   100.0%   44 604   100.0%
 
Location of non-current assets
Switzerland   543   1.3%   522   1.2%
European Union   3   0.0%   3   0.0%
Latin America   14 598   33.8%   15 787   37.8%
Africa   27 985   64.9%   25 492   61.0%
Total   43 129   100.0%   41 804   100.0%
Reconciliation of reportable segment profit or loss
in thousand EUR   2018   2017
Total EBITDA for reportable segments   7 297   10 617
EBITDA Other   –2 456   –2 452
Share of profit of associates   270   46
EBITDA   5 111   8 211
Depreciation, amortization and impairment   –3 416   –4 681
EBIT   1 695   3 530
Financial income and expenses   –2 751   –1 756
Earnings before tax   –1 056   1 774