Total assets amounted to EUR 132.7 million, EUR 3.7 million lower than the previous year, with the largest effect resulting from the loss for the year. In the area of current assets, inventories decreased by around EUR 4 million, while trade receivables totalled EUR 13.0 million (previous year: EUR 16.2 million). Biomass as well as the value of our forest area in Brazil are valued in Brazilian real and a large part of the existing loans at the level of the Holding are listed in Swiss francs in our books. This leads to translation differences in the consolidation.

Equity amounted to EUR 41.1 million (previous year: EUR 50.4 million). The equity ratio as of the balance sheet date was 31.0 % (previous year: 36.9 %). The biomass and forest area are revalued periodically every three years and, with the change of auditors, this evaluation was carried out again in 2023. In light of the current values, the assessment had a positive impact on equity. The difference between consolidated equity and the equity of Precious Woods Holding Ltd. amounts to approximately EUR 8 million in favour of the statutory accounts.

Cash flow from operating activities decreased by EUR 3.7 million to EUR 2.7 million. The change in working capital was EUR 5.3 million. Investments in tangible fixed assets amounted to EUR 1.7 million. Cash flow from financing activities was EUR -2.4 million.