Menu

Annual Report 2021
Annual Report 2021
Open report

Language

Leave

Report switcher allows selecting another report from a different reporting period

Annual Report 2021
  • Annual Report 2024
  • Half-Year Report 2024
  • Annual Report 2023
  • Half-Year Report 2023
  • Annual Report 2022
  • Half-Year Report 2022
  • Annual Report 2021
  • Half-Year Report 2021
  • Annual Report 2020
  • Half-Year Report 2020
  • Annual Report 2019
  • Half-Year Report 2019
  • Annual Report 2018
  • Half-Year Report 2018
  • Annual Report 2017
  • Half-Year Report 2017
  • Index
  • Search

Table of contents for the Annual Report 2021 report

Operational review
Key FiguresTo our shareholdersAbout Precious Woods / Sustainability
VisionProducts and marketsGoal of sustainable growthManagement organization with strong market orientationSustainable forestry in all dimensionsMarket opportunities thanks to sustainability certificatesContribution to the UN Sustainable Development GoalsPrecious Woods Amazon: Close ties with the local populationPrecious Woods in Gabon – Projects for the protection of flora, fauna, and biodiversitySounding BoardInstitutional framework as opportunity and challengeIllegal logging threatens certified timber trade and sustainable developmentCarbon FootprintThe role of forestry in the current climate change debateMilestones Precious Woods
Group results
Income statementBalance sheet
Brazil
Reduced harvest volume, increased production volumes, higher yieldNew concessions to secure our activitiesSummary of further activitiesSocial and environmental sustainability continues to be at high levelOutlook for 2022
Gabon
Operational successes despite difficultiesIncrease in working capital due to delivery delaysMany projects and activitiesOutlook for 2022
TradingCarbon & Energy
Emission certificates thanks to residual wood in BrazilianEmission trading together with myclimatePrecious Woods Carbon & Energy
Veneer
Veneer production
Corporate Governance
1. Group structure and shareholders2. Capital structure3. Board of Directors4. Group Management5. Compensation, shareholdings, loans6. Shareholders’ rights of participation7. Changes of control and defense measures8. Auditor9. Information policy
Shareholder information
Share capitalEquivalent to 100 sharesStock market listingShare register informationCompany headquartersStock price development
Financial Report
Precious Woods Group financial statements
Consolidated statement of profit or lossConsolidated statement of comprehensive incomeConsolidated statement of financial positionConsolidated statement of changes in equityConsolidated statement of cash flowsNotes to the consolidated financial statements
1. Basis of presentation, consolidation and general accounting policies2. Financial risk management3. Financial information by segment4. Revenue from contracts with customers5. Consumables used and other production costs6. Labour costs7. Other operating income and expenses8. Depreciation, amortization and impairment9. Financial income and expenses10. Property, plant and equipment11. Biological assets12. Intangible assets and goodwill13. Investment in associates14. Non current loans and investments15. Inventories16. Prepayments17. Trade and other receivables18. Trade and other payables19. Financial liabilities, other than trade and other payables20. Financial instruments by category and fair value hierarchy21. Leasing22. Share capital23. Major shareholders24. Earnings per share25. Related party balances and transactions26. Provisions27. Contingencies28. Income taxes29. Employee benefits30. Currency translation rates31. Basis of consolidation32. Increase of investment in MIL Energia Renovável Ltda.33. Subsequent events34. Approval of financial statements and dividends
Report of the statutory auditor on the consolidated financial statements
Precious Woods Holding Ltd financial statements
Balance sheets as of 31 December 2021 and 2020Statements of income 2021 and 2020Notes to the financial statements of Precious Woods Holding Ltd
Essential accounting and valuation principles1. General2. Authorized share capital3. Conditional share capital4. Investments in subsidiaries5. Financial assets to Group6. Other short term interest bearing liabilities7. Long term interest bearing liabilities8. Board and Executive compensation9. Depreciation, amortization and impairment10. Major shareholders11. Pledged assets / other securities12. Other note / Full time employment13. Other note / Lease liabilities14. Other note / Other short term liabilities15. Other note / Significant events after the reporting date
Report of the statutory auditor on the financial statements
Additional information
Contact addresses
We found 0 search results

No search results. Please enter a different search term.

Many projects and activities

FSC and PAFC recertification audits for forestry management and for chain of custody (CoC) were carried out successfully at our two sites in Bambidie and Owendo. With this continued high level and our dual certification, we remain the pioneering company in sustainable forest management in the tropics.

The CoC audit was performed online due to travel restrictions, which was a particular challenge for both our team and the auditors.

In addition to our certification activities, our projects in the past year included the following:

  • At the beginning of the school year, we carried out another school supplies campaign. School supplies procured in large quantities were given to the children of our employees at reduced prices, enabling them to start school successfully.
  • Our public-private partnership on fauna protection with the ministry responsible for forestry and the NGO Conservation Justice continued with growing success. Employees of the three partners stationed in Bambidie regularly patrol our forest to prevent poaching and to protect wildlife. The project has already had considerable success, underscoring the importance of this partnership. The necessary skills can be guaranteed and the fauna can be protected effectively only thanks to the cooperation of all three partners. Project financing is secured until the end of 2022. Follow-up financing is currently being sought with the goal of expanding the project even further.
  • Our engagement on behalf of protecting flora and fauna is also being noticed by the media. In 2021, we welcomed two film teams to our operation, including one from Arte. Filming means significant extra work, but it also allows us to reach a large audience and generate interest in sustainable forestry. The films are scheduled to be released in 2022 and 2023.
  • The P3FAC-AFRITIMB research project was continued. The goal of this project is to study forest dynamics in the Congo Basin and to better understand those dynamics in the context of sustainable forest management. In order to provide researchers with reliable reference data, we have excluded one zone from forest management for this purpose. The data continues to be provided to the AfriTRON and RAINFOR global research projects. We have also actively supported other research projects of universities and NGOs from Gabon, the Netherlands, Belgium, the United States, Germany, France, and Switzerland.
  • Because of the pandemic, external training once again had to be reduced to a minimum in 2021. Nevertheless, we were able to conduct numerous training sessions for our logging teams with internal experts. The goal is to perfect the knowledge and skills of our employees in reduced impact logging. Occupational health and safety briefings are carried out several times a week by our safety officers in order to guarantee continuous training and sensitization of our employees. At the end of 2021, we were able to resume several essential external first aid courses.
  • The cultural offerings and activities of the Centre Culturel were also impaired, but some activities could still be carried out: The Centre Culturel has also created the campaign “le centre culture vient chez vous”. Some activities are being moved to the neighbourhoods of Bambidie to give a wide audience access to our social project.

Precious Woods Gabon in brief

PW Gabon consists of two companies: CEB (Compagnie Equatoriale des Bois) and TGI (Tropical Gabon Industrie). Since 2007, PW Gabon has been managing a tropical forest in Eastern Gabon across a concession area of 596 800 hectares. In 2014, a protected area of 19 900 hectares was separated out. Starting in October 2020, the veneer company (TGI) was spun off and TGI now holds a stake of 49 % in Compagnie des placages de la Lowé (CPL). CEB employs 771 persons and CPL about 200. Each year, approximately 240 000 cubic meters of logs are harvested. The company operates according to a sustainable forest management plan that ensures that no more timber is harvested per hectare than will grow back within a harvest cycle of 25 years. PW Gabon runs two sawmills and a small moulding plant in Bambidie, the centre base of PW Gabon’s forestry operation. The CPL rotary veneer factories for okoumé veneer and selected hardwoods are located in Owendo, a suburb of the port city Libreville. The main export markets for PW Gabon’s manufactured timber products are Europe, South Africa, and Asia. PW Gabon’s forestry operation has been FSC-certified since October 2008 and the veneer chain of custody since January 2010. The forestry operation has also been PAFC-certified since 2017. Both operations were PAFC-certified for CoC in 2018.