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Annual Report 2025
Annual Report 2025
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Annual Report 2025
  • Annual Report 2025
  • Half-Year Report 2025
  • 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 2025 report

Operational review
Key FiguresPrecious Woods at a glanceTo our shareholdersHighlights in 2025Strategy and business model
VisionStrategy, business model and added valueMarket characteristicsMarket trends
Group results of Precious Woods Group
PW Group
Improved operating result in a challenging environmentRevenue development influenced by high transportation costStabilized cost base as a foundation for further developmentImproved EBITDA and EBITNon recurring item in financial and net resultStatement of financial positionCash flow and investmentsOutlook for 2026
PW AmazonPW GabonPW TradingPW Carbon & Energy
Precious Woods – Sustainability is our mission
Sustainability at the core of decision makingSustainability and climate change – risks and opportunitiesPrecious Woods climate impactRenewable energy from Precious WoodsComments, standards used, and links to the annual reportsCarbon account methodology
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
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. Statutory capital reserves and retained earnings3. 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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Consolidated statement of cash flows

in thousand EUR   Notes   2025   2024
Net cash flow from operating activities            
Profit/(loss) for the period       –7 605   –4 873
Income taxes (income)/expenses   28    2 270   1 115
Interest income   9    –1   –127
Interest expenses   9    1 110   846
Profit/(loss) for the period before interest and taxes       –4 226   –3 039
Depreciation, amortization and impairment   8    4 239   5 933
(Profit)/loss on sale of non-current assets       –331   –140
Share of (profit)/loss of associates   13    498   1 749
Disposal of financial liabilities       –   –155
Changes in provisions and liabilities to employees       55   188
Change in fair value of biological assets   11    –3 150   –2 465
Other non-cash items       4 600   –2 260
Operating cash flow before working capital changes       1 685   –189
Decrease/(increase) in trade and other receivables       –2 903   –1 662
Decrease/(increase) in inventories       1 904   2 478
Decrease/(increase) in prepaid expenses       –15   702
Increase/(decrease) in trade payables, other liabilities and provisions       1 997   –798
Income tax (paid)/received       –1 563   –1 084
Net cash flow operating activities       1 105   –553
in thousand EUR   Notes   2025   2024
Cash flow from investing activities            
Purchase of intangible assets   12    –39   –50
Proceeds from sale of property, plant and equipment       462   263
Purchase of property, plant and equipment   10    –1 282   –3 285
Proceeds from disposal of other non-current assets       150   185
Purchase of other non-current assets       –20   –251
Increase/(decrease) in recoverable taxes       13   –
Interests received   9    1   127
Net cash flow investing activities       –715   –3 011
Cash flow from financing activities            
Transaction costs from capital increase       371   –673
Purchase of treasury shares       –51   –
Proceeds from borrowings   19    1 832   5 246
Repayment of borrowings   19    –824   –258
Interests paid   19    –948   –538
Interests paid on lease liabilities   19 / 21    –110   –126
Repayment of lease liabilities   19 / 21    –411   –318
Net cash flow financing activities       –141   3 333
Net increase/(decrease) in cash and cash equivalents       249   –231
Cash and cash equivalents, at the beginning of the year       1 341   1 648
Increase/(decrease) in cash and cash equivalents       249   –231
Translation effect on cash       2   –76
Total cash and cash equivalents, at the end of the year       1 592   1 341