Precious Woods Gabon – major political and infrastructural obstacles

PW Gabon generated net sales of EUR 27.1 million (previous year: EUR 29.3 million), 7.6 % lower than in the previous year and far below expectations. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 5.0 million (previous year: EUR 5.5 million). The EBITDA margin was 18.5 %, lower than the previous year’s level of 18.9 %. Earnings before interest and taxes (EBIT) amounted to EUR 1.7 million (previous year: EUR 2.5 million). This corresponds to a margin of 6.2 % (previous year: 8.6 %). The most significant negative impact of these figures was the lack of sales in the amount of about EUR 5 million due to delays in delivery and the resulting unrealized margin. The interruption of operations of more than one month at both locations led to a massive worsening of profitability.

in EUR million   2019   2018   Index   Change
Net Sales   27.1   29.3   92.4%   -2.2
EBITDA   5.0   5.5   90.4%   -0.5
EBIT   1.7   2.5   66.5%   -0.8