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4. Inventories

in thousand EUR   2018   2017
Logs   3 756   3 554
Sawn timber   3 114   4 674
Veneers   1 087   726
Industrialized products   1 060   1 071
Certified Emission Reductions (CERs)   224   117
Export products in transit   2 622   2 071
Spare parts and other   3 582   3 061
Obsolescence reserve   –528   –632
Total inventories   14 917   14 642
Obsolescence reserve
in thousand EUR   2018   2017
At 1 January   632   614
Increase   260   99
Decrease   –358   –68
Currency effects   –6   –13
At 31 December   528   632