Gascogne’s sales fell slightly by 1% to Euro 402 million in 2018, while Euro 3 million growth of the Packaging Division only partially offset the decrease in activity of the Wood Division, down by Euro 7.5 million, as the company said in the press release received by Lesprom Network.
FY 2018 EBITDA rose slightly from Euro 27.5 million to Euro 28 million. The Group continues to reduce its operating costs, allowing it to absorb the increase in the cost of raw materials and energy.
The underlying operating profit decreased by Euro 1.3 million, mainly due to the mechanical increase in depreciation due to the major investments made over the past five years.
Operating profit was Euro 10 million, including a provision for impairment of Euro 5 million on the assets of the Wood Division, which was booked as other non-operating income and expenses.
The Gascogne Group is the leading player in the wood industry in France, operating at every stage of the processing of forest resources.