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Annual Report 2022
Annual Report 2022
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Annual Report 2022
  • 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
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  • Half-Year Report 2018
  • Annual Report 2017
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Table of contents for the Annual Report 2022 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 debate
MilestonesGroup results
Income statementBalance sheet
Brazil
Reduced harvest volume, increased production volumes, higher yieldNew concessions to secure our operationsSummary of further activitiesSocial and environmental sustainability continues to be at a very high levelOutlook for 2023
Gabon
Operational successes despite difficultiesSlight reduction in operating capitalMany projects and activitiesOutlook for 2023
TradingCarbon & Energy
Emission certificates thanks to residual wood in BrazilEmission trading together with myclimate
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. Prepaid expenses17. 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 sheetIncome statementNotes to the financial statements
Essential accounting and valuation principles1. General2. Authorized share capital3. Conditional share capital4. Treasury shares5. Investments in subsidiaries6. Financial assets to Group companies7. Other short term interest bearing liabilities8. Long term interest bearing liabilities9. Board and Executive compensation10. Depreciation, amortization and impairment11. Major shareholders12. Pledged assets / other securities13. Other note / Full time employment14. Other note / Lease liabilities15. Other note / Other short term liabilities16. Other note / Significant events after the reporting date
Proposed appropriation of the accumulated loss
Motion of Board of Directors
Report of the statutory auditor on the financial statements
Additional information
Contact addresses
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Consolidated statement of cash flows

in thousand EUR   Notes   2022   2021
Net cash flow from operating activities            
Profit/(loss) for the period       965   4 686
Income taxes (income)/expenses   28    2 486   3 263
Interest income   9    –29   –29
Interest expenses   9    2 620   2 449
Profit/(loss) for the period before interest and tax       6 042   10 369
Depreciation, amortization and impairment   8    6 417   4 329
Impairment financial asset at amortized costs   9    3   –
(Profit)/loss on sale of non-current assets   7    –69   –202
Share of (profit)/loss of associates   13    240   723
Gain recognized on FV measurement on previously held interest in an associate       –   –110
Disposal of financial liabilities as a result of forgiveness   19    –   –400
Changes in provisions and liabilities to employees       198   185
Change in fair value of biological assets   11    –4 075   –4 074
Other non-cash items       256   13
Operating cash flow before working capital changes       9 012   10 833
Decrease/(increase) in trade and other receivables       –1 987   –1 213
Decrease/(increase) in inventories       –4 123   –3 263
Decrease/(increase) in prepaid expenses and assets held for sale       406   56
Increase/(decrease) in trade payables, other liabilities and provisions       3 747   1 174
Income tax (paid)/received       –707   –1 538
Net cash flow operating activities       6 348   6 049
 
Cash flow from investing activities
Proceeds from sale of intangible assets   12    –   1 471
Purchase of intangible assets   12    –426   –1 366
Proceeds from sale of property, plant and equipment       145   15
Purchase of property, plant and equipment   10    –4 151   –1 604
Acquisition of subsidiaries, net of cash   32    –   –553
Proceeds from disposal of other non-current assets       98   –
Purchase of other non-current assets       –1 188   –311
Increase/(decrease) in recoverable taxes       –2   –13
Interests received   9    29   29
Net cash flow investing activities       –5 495   –2 332
 
Cash flow from financing activities
Purchase of treasury shares       –21   –
Proceeds from borrowings   19    4 072   904
Repayment of borrowings   19    –2 486   –3 535
Interests paid   19    –1 295   –1 245
Interests paid on lease liabilities   19 / 21    –127   –142
Repayment of lease liabilities   19 / 21    –432   –273
Net cash flow financing activities       –289   –4 291
             
Net increase/(decrease) in cash and cash equivalents       564   –574
             
Cash and cash equivalents, at the beginning of the year       2 256   2 778
Increase/(decrease) in cash and cash equivalents       564   –574
Translation effect on cash       202   52
Total Cash and cash equivalents, at the end of the year       3 022   2 256