Precious Woods Amazon
Lower sales and reduced production
The production volume in the first half-year was 11 027 m3 of sawn timber, 33.2 % lower than in the previous year (16 496 m3). Since the end of last year, the sawmills have only been working in single-shift operation in order to meet the changed market situation, and this will also be the case in the second half of the year.
Net sales PWA
5.1
EUR million
Net sales were 39.9 % below the previous year, reaching EUR 5.1 million (previous year: EUR 8.4 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR -0.7 million, a decline of EUR 1.8 million (previous year: EUR 1.1 million). This resulted in an EBITDA margin of -13.0 % (previous year: 13.5 %). Demand for tropical timber from the Amazon region fell again compared to the same period last year, resulting in low export sales. In addition, efforts to reduce high stock levels and sell at lower prices also led to this significant reduction in margins.
Sales on the local market amounted to EUR 2.0 million, EUR 0.2 million lower than in the same period of the previous year. Although local prices are below export prices, this business makes an important contribution to stabilizing liquidity. In June, harvesting activities were resumed as planned.