Precious Woods achieved consolidated net sales of Euro 65.9 million in the 2022 fiscal year, 21.3 % higher than the previous year (Euro 54.3 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to Euro 13.3 million, or 20.2 %, a decrease of Euro 1.8 million from the previous year.
Earnings before interest and taxes (EBIT) amounted to Euro 6.9 million, EUR 3.8 million lower than the previous year. The net result was Euro 1.0 million. As in the previous year, the EBITDA and EBIT figures include increases in the valuation of biomass in the amounts of Euro 4.1 million each. Provisions for restructuring measures in the amount of EUR 0.4 million at the EBITDA level and in the amount of EUR 2.3 million at the EBIT level are recognized.
Net profit was Euro 1.0 million, compared to the previous year's net profit of Euro 4.7 million. This result includes the substantial, non-inflation-related cost increases and provisions in the total amount of Euro 4.7 million as described above.
Cash flow from operating activities increased by Euro 0.3 million to Euro 6.3 million. The change in working capital was Euro -2.7 million. Investments in tangible fixed assets amounted to Euro 5.5 million. Cash flow from financing activities was Euro -0.3 million.
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.
