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Annual Report 2023
Annual Report 2023
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Annual Report 2023
  • 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
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Table of contents for the Annual Report 2023 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 biodiversityInstitutional 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 and production volumesConcessions to safeguard our activitiesNew carbon project through forest protectionSummary of further activitiesSocial and environmental sustainability continues to be at a very high levelOutlook for 2024
Gabon
Operational successes despite difficultiesSuccessful launch of reforestation business lineMany projects and activitiesOutlook for 2024
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. Personnel expenses7. 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. Subsequent events33. 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 capital band3. Conditional share capital4. Treasury shares5. Investments in subsidiaries6. Short term interest bearing liabilities7. Long term interest bearing liabilities8. Board and Executive compensation9. Depreciation, amortization and impairment10. Pledged assets / other securities11. Other note / Full time employment12. Other note / Lease liabilities13. Other note / Liabilities to pension funds14. Other note / Significant events after the reporting date
Proposal for the appropriation of the accumulated losses
Motion of Board of Directors
Report of the statutory auditor on the financial statements
Additional information
Contact addresses
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Emission trading together with myclimate

This small-scale project was the first worldwide that generated emission certificates on the basis of sustainably harvested biomass from FSC-certified forestry activities. The woodchip power plant with 9 MW of electric output is located on the site of the sawmill of Precious Woods in Itacoatiara. Precious Woods owned 40 % until the end of May 2021 and has since owned 100 % of the shares.

The plant produced up to 45 000 MWh of electricity each year, for which otherwise about 10 –15 million litres of diesel would be consumed. This could replace several diesel generators and theoretically provides the neighbouring city’s approximately 100 000 inhabitants with climate-friendly power. Thanks to the power plant, we benefit from low energy prices, a stable energy supply, and low-emission production. The waste heat generated during electricity production is used for the sawmill’s kiln drying plant.

At full capacity, about 100 000 tons of wood are required each year for the production of the plant’s electrical and thermal power. This residual wood is delivered in the form of wood cuttings from forestry and industrial operations and sawdust from the sawmill. All this biomass comes from sustainable forestry in accordance with FSC guidelines. Prior to start-up of the plant, this residual wood was rotting in large piles on the property or in the forests. The sustainable use of the residual wood primarily substitutes fossil energy sources.

Precious Woods Carbon & Energy

The Precious Woods Carbon & Energy business segment comprises the trading of CERs and the operation of the biomass power plant MIL Energia Renovável in Itacoatiara, Brazil. After a partial ownership since 2012, Precious Woods took over 100 % of the shares in May 2021. PW Amazon’s sawmill is the sole biomass supplier of the power plant. The plant is listed as a climate-relevant project also because diesel was replaced by biomass and thus renewable energy. The project complies with the Clean Development Mechanism (CDM) of the Kyoto Protocol. The resulting emission certificates have been traded since 2011 by the myclimate1 foundation on behalf of Precious Woods. The project ended in October 2023 after a maximum term of 21 years and cannot be renewed.

1 myclimate is a Switzerland-based organization set up in 2002 to provide environmentally responsible solutions to individuals and companies. www.myclimate.org