Improved operating result in a challenging environment

Precious Woods reported consolidated net revenues of EUR 44.6 million for the financial year 2025 (previous year: EUR 47.7 million). EBITDA improved by EUR 2.1 million to EUR 4.2 million (previous year: EUR 2.1 million), while EBIT totaled EUR -0.03 million (previous year: EUR -3.8 million). Net result amounted to EUR -7.6 million; adjusted for non-recurring items of EUR -3.8 million, net result amounted to EUR -3.8 million (previous year: EUR -4.9 million).

The financial year 2025 was initially impacted by several operational challenges. These were primarily related to a fire at the sawmill in Gabon, as well as an unplanned production interruption at our partner’s veneer production facility. Delays in importing licenses to Europe for certain wood species also resulted in shipping delays and consequently postponed invoicing. In Brazil, the management transition was successfully completed and the teams were reorganized. However, the first half of the year was also affected by delivery delays due to capacity constraints at the port of Manaus. In the second half of the year, key projects progressed further, in particular the reconnection to the power grid in Brazil. In Gabon, energy-related projects were also further developed. Market conditions remained challenging throughout the year, with no clear recovery in prices or volumes. Revenue delays incurred in the first half of the year were partially recovered by year-end.