Precious Woods Gabon – increase in sales and revenue despite major infrastructural obstacles
PW Gabon generated net sales of EUR 35.5 million (previous year: EUR 31.0 million). This corresponds to an increase of 14.3 % over the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 5.7 million (previous year: EUR 4.2 million). The EBITDA margin was 16.2 % (previous year: 13.6 %). Earnings before interest and taxes (EBIT) amounted to EUR 1.9 million (previous year: EUR 1.2 million). This corresponds to a margin of 5.4 % (previous year: 3.7 %). The higher profitability is due to the improved performance of the new sawmill and the increased sales prices of sawn timber. The effect of the veneer plant (now CPL) must be taken into account with respect to the increase in sales. Sales of logs to the veneer plant are consolidated, but sales of veneer are made through the holding company and are credited to the PW Gabon segment.
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