EANS-Adhoc: Precious Woods revises its expected operating results for 2011
--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------
Company Information/Sustainable management and use of tropical forests and
plantations
02.12.2011
Zug/Zurich, 2 December 2011 - Due to a series of factors, Precious Woods Holding
Ltd is revising downwards its operating results (EBITDA) forecast of at least
USD 2 million for the current financial year, as issued in its Half-Year Report.
This correction is a result of both internal and external influences. Due to
capacity constraints at the port of Libreville, Precious Woods Gabon was able to
ship only a portion of its products, and the starting phase of production at the
new hardwood sawmill, opened on 1 July 2011, was initially slower than expected.
What is more, sales in Brazil have been lower than anticipated, resulting in
further additional severance costs as part of the turnaround process. The
revised EBITDA forecast is now in the order of USD -2 to -3 million, which
nevertheless still represents an improvement of around USD 7 million on the
previous year, primarily attributable to operational progress.
end of ad-hoc-announcement
================================================================================
Precious Woods is one of the worlds leading companies in the sustainable
management and use of tropical forests and plantations. The companys core
activities include reforestation and sustainable management of tropical forests,
timber processing and the trading of FSC-certified timber products. The
generation of emission rights and electricity from wood waste represent further
integral elements of the companys business. Shares of Precious Woods Holding
Ltd. have been listed on the SIX Swiss Exchange since March 2002. Additional
information about Precious Woods can be found at www.preciouswoods.com
Further inquiry note:
Precious Woods Holding AG
Brunhilde Mauthe
Head of Group Communications & Marketing Services
Tel. +41 44 245 81 20
Fax +41 44 245 81 12
media@preciouswoods.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: Precious Woods Holding Ltd.
Baarerstrasse 135
CH-6301 Zug
phone: +41 44 245 80 10
FAX: +41 44 245 80 12
mail: office@preciouswoods.com
WWW: http://www.preciouswoods.com
sector: Forestry & Timber
ISIN: CH0013283368
indexes: SPI
stockmarkets: Main Standard: SIX Swiss Exchange
language: English
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. Company Information 01.10.2010 Message to our shareholders/Press release Supportive measures to increase operational resultsefficiency through bridge financing and an improvement in our the ability to access the capital market Precious Woods is ...