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Annual Report 2024
Annual Report 2024
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Annual Report 2024
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Table of contents for the Annual Report 2024 report

Operational review
Key FiguresPrecious Woods at a glanceTo our shareholdersHighlights in 2024Strategy and business model
VisionStrategy, business model and added valueMarket characteristicsMarket trends
Group results Precious Woods Group
PW Group
Increased efficiency secures operating resultPrice and product mix weigh on salesRobust cost structureEBITDAImproved financial resultBalance SheetStable cash flowOutlook for 2025
PW AmazonPW GabonPW TradingPW Carben
Precious Woods – sustainability in practiceCorporate 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
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 registered voting 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. Ordinary capital increase3. Authorized capital band4. Conditional share capital5. Treasury shares6. Investments7. Board and Executive compensation8. Depreciation, amortization and impairment9. Pledged assets / other securities10. Full time equivalents11. Lease liabilities12. Liabilities to pension funds13. Significant events after balance sheet date
Proposal for the carry forward of the accumulated losses
Motion of Board of Directors
Report of the statutory auditor on the financial statements
Additional information
Contact addresses
Precious Woods in EuropePrecious Woods in BrazilPrecious Woods in Central Africa
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19. Financial liabilities, other than trade and other payables

Carrying value of financial liabilities, other than trade and other payables

in thousand EUR   2024   2023
 
Loans and interest payables   8 769   49 719
Lease liabilities   1 689   864
Total   10 458   50 583
Current loans   4 201   3 368
Current loans shareholders and related parties   745   21 915
Current financial liabilities third parties   45   46
Total current loans and interest payables   4 991   25 329
Current lease liabilities   800   560
Total current   5 791   25 889
Non-current loans   3 778   1 732
Non-current loans shareholders and related parties   –   22 658
Total non-current loans and interest payables   3 778   24 390
Non-current lease liabilities   889   304
Total non-current   4 668   24 695
Total   10 458   50 583

The changes in liabilities from financing activities are detailed below:


in thousand EUR
  Current
financial liabilities
  Non-current
financial liabilities
  Total
 
At 1 January 2023   17 255   31 911   49 166
Cashflows
Cash inflow   229   1 313   1 542
Cash outflow for lease payments   –302   –102   –405
Cash outflow for interests paid on lease liabilities   –88   –   –88
Cash outflow for interests paid   –   –850   –850
Cash outflow due to redemption of financial liabilities   –670   –1 404   –2 074
Cash outflow due to redemption of leases   –512   –   –512
Non-cash changes            
Reclassifications   8 834   –8 834   –
Increase in lease liabilities   –   172   172
Increase in interests on lease liabilities   –   88   88
Accrued interests   –   2 173   2 173
Currency effects   1 143   228   1 371
At 31 December 2023   25 889   24 694   50 583
Cashflows
Cash inflow   2 548   2 698   5 246
Cash outflow for lease payments   –318   –   –318
Cash outflow for interests paid on lease liabilities   –126   –   –126
Cash outflow due to redemption of financial liabilities   –322   –331   –653
Cash outflow due to redemption of leases   –505   –   –505
Non-cash changes            
Reclassifications   1 396   –1 396   –
Transfer financial liabilities to equity   –21 376   –22 050   –43 426
Transfer long-term financial liabilities to other-current liabilities   –   –50   –50
Increase in lease liabilities   –   1 806   1 806
Increase in interests on lease liabilities   –   126   126
Accrued interests   165   83   248
Disposal due to renouncement   –999   –56   –1 055
Currency effects   –561   –857   –1 418
At 31 December 2024   5 791   4 667   10 458

The carrying amounts of financial liabilities are denominated in the following currencies:

in thousand EUR   31 December 2024   31 December 2023
Currencies financial liabilities/borrowings denominated in:
EUR   8   2 000
XAF   6 426   4 863
CHF   1 324   43 273
BRL   2 700   447
Total financial liabilities   10 458   50 583

The effective interest rates at the reporting date by currency were as follows:

    2024   2023
 
EUR   1.0%   4.0 – 6.0%
XAF   8.5 –11.0%   8.5 –11.0%
CHF   2.3 – 4.8%   2.9 – 5.6%
BRL   6.0 – 19.8%   4.5 – 6.0%

Details about the financial risk management are described in Note 2.