3. Seasonality

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Table of contents for the Half-Year Report 2018 report

Half-Year Report 2018

Precious Woods Holding Precious Woods Gabon Precious Woods Amazon Precious Woods Trading Carbon & Energy Share price Outlook

Interim condensed consolidated financial statements

Consolidated statement of financial position Consolidated statement of profit or loss Consolidated statement of comprehensive income Consolidated statement of changes in equity Condensed consolidated statement of cash flowsNotes to the interim condensed consolidated financial statements

1. Basis of presentation and accounting policies 2. Implementation of new IFRS standards 3. Seasonality 4. Financial information by segment 5. Subsequent events

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3. Seasonality

For the forestry operations in Brazil the first half of the year is characterized by the rainy season (January to May) during which no logs are harvested.