Precious Woods Gabon – consolidation in a difficult environment

PW Gabon generated net sales of EUR 29.3 million (previous year: EUR 30.7 million), 4.6 % lower than in the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 5.5 million (previous year: EUR 9.9 million). The EBITDA margin was 18.9 %, considerably lower than the previous year's level of 32.4 %. Earnings before interest and taxes (EBIT) amounted to EUR 2.5 million (previous year: EUR 5.7 million) and were thus at the 2016 level. Overall, this corresponds to a margin of 8.6 % (previous year: 18.6 %). The most significant negative impact on these figures was the lack of sales in the amount of about EUR 3 million due to delays in delivery and the associated unrealized margin. Since these were only delays, this will have a positive impact on the fiscal year 2019.