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Outlook for 2019
Further improvements in production workflows will take place in 2019. Investments in the new sawmill are expected to be completed by the end of 2019. The yield is to be increased for the same harvest volume, leading to further sales growth. In the veneer plant, we expect an increase of 3 % in production, which can be achieved with the improvement in yield. Sales growth in 2019 will be between 5 % and 7 %. Margins will improve significantly again if no unexpected events lead to setbacks or delivery delays.
At the beginning of 2018, we carried out preparatory work to advance the project of a biomass power plant in Bambidie. However, as the new forestry law has not yet been adopted, we will leave it at preparatory work for now and only invest in it once there is legal clarity. In parallel, we are currently evaluating possibilities to make better use of restwood given that not the entire volume of biomass should be expected to be useable for electricity production.
We are also investigating additional concession areas with the intention of managing them sustainably and supplying the logs to the market. The demand for logs in the domestic market has risen massively because a number of companies have settled in a specially established industrial zone in Libreville for the first transformation (processing stage).
Key figures for Precious Woods Gabon
|Sales sawn and industrialized wood||in m3||37 300||36 700||1.6%|
|Sales logs||in m3||53 300||55 400||–3.8%|
|Sales rotary veneer||in m3||25 100||26 000||–3.5%|
|Sales sliced veneer||in m2||–||57 400||–100.0%|
|Harvest volume||in m3||243 500||238 600||2.1%|
|Net sales||in EUR million||29.3||30.7||–4.6%|
|Operating result||in EUR million||5.6||9.9||–43.4%|
|Energy consumption||in GJ||165 400||162 000||2.1%|
|CO2 emissions||in t||15 400||14 500||6.2%|
|FSC share of timber production sold||in %||100||100||–|
|Employees (yearly average)||872||830||5.1%|
|Accidents at work||88||77||14.3%|
|Days lost per accident||8.3||10.9||–23.9%|