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Increased profitability in the sawmills and sales increase despite delivery problems in Gabon
Precious Woods achieved consolidated net sales of EUR 46.2 million in fiscal year 2020. This was 4.1 % above the previous year’s sales (EUR 44.4 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 5.8 million and repeated the normalized figure from the previous year (EUR 5.9 million). Earnings before interest and taxes (EBIT) amounted to EUR 1.9 million, EUR 0.5 million higher than the previous year (EUR 1.4 million). The net result was EUR -2.2 million (previous year EUR -1.1 million). The income figures were presented in relation to the normalized figures for 2019. The effective figures for 2019 included special effects from the valuation of biomass in Brazil.
|in EUR million||2020||2019||Index||Change|
|Net Sales Precious Woods Group||46.2||44.4||104.1%||+1.8|
|Sawmills in Gabon||22.8||21.2||107.5%||+1.6|
|Veneer plant in Gabon||9.3||10.5||88.6%||-1.2|
|Net Sales Precious Woods Gabon||31.0||27.1||114.5%||+3.9|
|Net Sales Precious Woods Amazon||13.4||13.4||100.1%||+0.0|
|Net Sales Precious Woods Trading||2.5||3.9||63.4%||-1.4|
Operations were partially restricted due to Covid-19 cases starting in March 2020. However, we never had to order a complete standstill of the operations. The hygiene rules in force in Switzerland were also applied in Gabon and Brazil. On a supporting basis, the government of Gabon carried out extensive and periodic tests for our employees. In Brazil, we had to rely on our own measures, and at times we also supplied hospitals with hygiene and testing material, given that they did not have sufficient quantities available. We would like to take this opportunity to thank not only the government of Gabon for its support, but also all our employees for their dedication in this extraordinary situation.