Balance Sheet

Total assets amounted to EUR 116.8 million (previous year: EUR 132.7 million). Within current assets, inventories decreased by approximately EUR 3 million, while trade receivables totaled EUR 8.2 million (previous year: EUR 10.3 million).

Biomass and the value of our forest areas in Brazil are valued in Brazilian reais, which results in translation differences during consolidation. These assets are revalued periodically, and based on current parameters, the latest assessment had a positive impact on the result.

Equity amounted to EUR 73.3 million (previous year: EUR 41.1 million). The equity ratio at year-end was 62.8% (previous year: 31.0%). This increase is attributable to the debt restructuring.