Precious Woods Gabon

Increase in productivity

The saw mills produced a total of 20 949 m3 of sawn timber, corresponding to an increase of 3.1 % (previous year: 20 316 m3). Production volume at the veneer plant fell by 15.7 % to 14 831 m3 (previous year: 17 597 m3). As in the previous year, maintenance work in the saw mills was carried out in May. The volume reduction in the veneer plant was due to unscheduled maintenance work.

The operating result (EBITDA) was EUR 4.3 million (previous year: EUR 5.3 million). The operating profit margin was 27.6 % (previous year: 34.6 %).

The result was impacted negatively by logistical difficulties. The inventory of sawn timber and veneer increased dramatically because shipping was not possible. We expect the situation to return to normal in the 3rd quarter. This will have a positive effect on both the result and the financial situation.