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Increased sales and profitability
Precious Woods achieved consolidated net sales of EUR 54.3 million in the fiscal year 2021. This was 17.6 % above the previous year’s sales (EUR 46.2 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 15.1 million, or 27.7 %, an increase of EUR 9.3 million over the previous year (EUR 5.8 million). Earnings before interest and taxes (EBIT) amounted to EUR 10.7 million, EUR 8.8 million higher than the previous year (EUR 1.9 million). The net result was EUR 4.7 million (previous year: EUR -2.2 million). The EBITDA and EBIT figures include increases in the valuation of biomass in the amounts of EUR 4.1 million and EUR 0.9 million, respectively, in 2020.
|in EUR million||2021||2020||Index||Change|
|Net Sales Precious Woods Group||54.3||46.2||117.6%||+8.1|
|Net Sales Precious Woods Gabon||35.5||31.0||114.3%||+4.4|
|Veneer plant 1||0.0||9.3||–9.3|
|Net Sales Precious Woods Amazon||15.2||13.4||113.3%||+1.8|
|Net Sales Energy Biomass power plant 2||1.7||0.0||+1.7|
|Net Sales Precious Woods Trading||3.4||2.5||138.0%||+0.9|
1 Veneer sales until September 30, 2020
2 Energy sales as of June 1, 2021
Fortunately, production was restricted only slightly due to the impact of Covid-19. We recorded few cases of illness, enhanced hygiene regulations at work were well accepted, and we did not have to impose any shutdowns. Travel was also resumed. In 2021, however, the lack of resources in certain public offices has affected us and made the processes more difficult, such as issuance of permits, processing of customs formalities, and other official business.