May 25, 2012. /Lesprom Network/. Tornator’s net sales in the financial year 2011 increased by some 10% from the previous year, being Euro 77.7 million. Operating profit without the effect of forest growth was Euro 65.2 million, or 83.9% of net sales. Tornator’s net profit increased significantly from the previous year, amounting to Euro 35.7 million. Profit for the period was 45.9% of net sales, as the company said in a press release received by Lesprom Network. Timber delivery targets were exceeded, partly due to the harvesting of the previous year’s storm wood, and partly due to favourable winter harvesting conditions. Naturally, the most important thing was that the demand for timber improved, especially in the summer. Despite the generally difficult economic situation, plot sales remained at the level of previous years. The record-high net profit was secured by the compensation for the conservation programmes agreed with the state, paid out in early 2011. “Our good results are partly due to timely silvicultural work. A forest will grow when the silvicultural work is done on time. According to an assessment made by the Finnish Forest Research Institute, Tornator’s forests are in good growth, producing wood in a sustainable way today and in the years to come,” says CEO Arto Huurinainen. “During our ten years of operation, we have endeavoured to bring a new kind of effectiveness into forest management. In fact, the low expenses relative to revenues are an indication that we have succeeded in this,” he adds. Financing also plays an important role in the company’s strategy, and with the financial markets in turmoil, Tornator’s relatively low financing costs and long-term financing agreements have proved to be a key success factor. Return on capital employed, excluding the effects of fair valuation, stood at 7.4% and return on equity at 8.6%. The equity ratio was 41.9%. In 2011 Tornator increased its land holdings mainly in Estonia, where it already owns some 15,000 hectares of forestland. In Romania, the company has some 12,000 hectares of forest. Tornator is, with about 600,000 hectares of forestlands, the third largest forest owner in Finland. Tornator’s main business is wood production and the sale of cutting rights. It also develops and provides high-quality forest management services and sells plots for holiday homes. In addition, Tornator actively buys forestland close to its core operating area.