Gabon

Precious Woods Gabon

Increase in sales but massively higher costs

PW Gabon generated net sales of EUR 40.1 million (previous year: EUR 35.5 million), corresponding to an increase of 13.0 % over the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 5.7 million (previous year: EUR 5.7 million). The EBITDA margin was 14.2 % (previous year: 16.2 %). Earnings before interest and taxes (EBIT) amounted to EUR 0.4 million (previous year: EUR 1.9 million). This corresponds to a margin of 0.9 % (previous year: 5.4 %). Provisions of EUR 0.4 million at the EBITDA level are included in connection with the restructuring announced in November 2022, EUR 2.3 million at the EBIT level. Without the massive increase in operating costs, leading to the drastic measures we had to take, we would be able to look back on a successful fiscal year with higher margins. 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.