Tornator’s turnover was Euro 194.9 million, compared to Euro 164.6 million in 2022, a change of +18.4%. Timber deliveries increased, and the prices were good. Elevated market interest rates, inflation, and the Russian invasion of Ukraine did not have significant negative impacts on the company’s business. A total of 91.6% of turnover, worth Euro 178.5 million, consisted of timber sales income (Euro 147.8 million, or 89.8%). The turnover of silviculture services increased by 25.1%, reaching Euro 14.5 million. In addition, the proceeds from land and plot sales amounted to Euro 1.8 million.
Other operating income of Euro 4.9 million includes income from various sources, such as land usage fees and rents, conservation area compensation, and the sale of soil materials. In the comparison year, other operating income also included income from realised and estimated future additional purchase prices of sold wind power projects. However, the change in revenue estimates was negative during the reporting period, and the amount is presented in other operating expenses.
Operating profit at fair value amounted to Euro 442.9 million, and profit for the financial period was Euro 340.6 million. The fair value of the forest assets increased significantly more in the comparison period than in the reporting period, explaining the decrease in operating profit.
Adjusted operating profit amounted to Euro 141.8 million, and the adjusted net profit stood at Euro 96.7 million.
Tornator is a leader in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania.
