Tornator's net sales in the 1H 2020 grew by 32% to Euro 51.2 million, in which the share of timber deliveries was Euro 48.2 million.
The operative operating profit in the 1H 2020 increased by 48% to Euro 35.1 million due to successful timber deliveries. The reported IFRS operating profit was Euro 36.1 million.
Wood deliveries realized as planned, totalling approximately 1.4 million m3, that is, Euro 48.2 million. The mild winter allowed forest management work to be done earlier than normal, and the company offered contractors in Finland the opportunity to carry out proactive forestry work to alleviate the economic challenges caused by the coronavirus pandemic.
CEO Henrik Nieminen said: “COVID-19 presented a major test for companies’ operating models around the world. In the Finnish forest sector, uncertainty was caused not only by the pandemic, but also by labour market disturbances early in the year, and extremely wet timber harvesting conditions. Tornator’s recipe for coping with financial crises, pandemics and other major challenges has been tried and tested: customer relationships based on a long-term partnership, motivated and skilled personnel, and owners and loan financiers who value responsible forest management.”
Tornator is a leading company specialised in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania.