In a sluggish global economic environment, the Group's business and profitability have reached a low point resulting from the decline in volumes sold and the combination of non-recurring negative factors.
In Gabon, the changes required in terms of the organization of activities and adaptations in line with the new business model have led to significant losses. In Cameroon and Congo, the administrative and logistical constraints faced have had only a temporary and limited impact on the subsidiaries' operational performances. In France, the Import-Distribution branch's results have been penalized by the contraction in the building sector.
In this context, income from ordinary operations totaled Euro 4.4 million at 30 June 2013, compared with Euro 0.04 million at 30 June 2012. EBIT came to Euro 8.1 million for the first half of 2013, factoring in an exceptional impairment of intangible assets for Euro 3.6 million concerning activities in Gabon as a result of a lag in terms of the trend reversal.
After taking into account the cost of net financial debt for Euro 1.5 million and a Euro 0.4 million tax expense, net income represents Euro 10.2 million, reflecting the consolidation on an equity basis of earnings recorded by Lignafrica, the joint-venture specialized in the development of industrial forest plantations in Africa. On a Group share basis, net income comes out at Euro 6.6 million.
Founded in 1923, the Rougier Group is a market leader for certified African tropical timber. The Group operates around three activities: Rougier Afrique International (natural forest harvesting, industrial processing and international trade), Lignafrica (research, management and investment in industrial forest plantations in Africa), Rougier Sylvaco and Rougier Panneaux (importing and distribution in France of timber from all origins).
