The net sales of the Precious Woods Group in the first half-year 2016 were $23.3 million and thus 3.4% higher than the same period in the previous year ($22.6 million), as the company said in the press release received by Lesprom Network.
The increase in sales was not influenced by any exchange rate effect. The saw mills in Gabon increased sales by 3.9%, and the sales in the veneer plant (TGI) shot up by 42.9% compared with the previous year. This was of course strongly influenced by the planned 6-week service interruption necessary in 2015. In Brazil, sales were 17.6% higher than in the previous year. Sawn timber production capacity increased by 25% with stable fixed costs.
The gross profit was $14.2 million and thus 9.2% higher than the previous year ($13 million). The gross profit margin was 60.8%, compared with 57.6% in the previous year. The significant positive change can be explained with reference to the optimization measures that were implemented at all locations.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to $4.3 million, $1.4 million higher than the previous year ($2.9 million). The EBITDA margin was 18.5% (previous year: 13%).
Earnings before income and taxes (EBIT) amounted to $1.6 million (previous year: $0.2 million). The EBIT margin amounted to 6.7% (precious year: 0.9%).
Precious Woods is an international company active in the sustainable management and use of tropical forests. The company’s core activities include sustainable management of tropical forests, timber processing and the trading of FSC-certified timber products.
