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Precious Woods Gabon – major infrastructural obstacles – new partnership
PW Gabon generated net sales of EUR 31.0 million (previous year: EUR 27.1 million). While this represented an increase of 14.5 % over the previous year, it was below expectations. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 4.2 million (previous year: EUR 5.0 million). The EBITDA margin was 13.6 % (previous year: 18.5 %). Earnings before interest and taxes (EBIT) amounted to EUR 1.2 million (previous year: EUR 1.7 million). This corresponds to a margin of 3.7 % (previous year: 6.2 %). The decrease in profitability is caused due to a delay in the construction of the new sawmill, price decreases especially in the veneer business and in difficulties in shipments. The increase in sales is in part due to the fact that the internal log sales to our veneer plant are counted as external sales starting in October 2020.
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