euro adhoc: Precious Woods Holding AG, Zug
Annual Reports
Precious Woods achieves year of growth in 2001 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Total revenue of the Precious Woods Group increased by 65% from USD 6.87 Million to USD 11.32 Million in 2001. Sale of wood products grew by 83% from USD 5.05 Million to USD 9.21 Million. All business units contributed to this growth led by Precious Woods Pará. The area of forest (including the absolute preservation areas) managed in a sustainable manner increased from 80000 hectares to 167700 hectares. The plantations in Costa Rica were also expanded by 400 hectares to now encompass an area of 4185 hectares.
Net earnings increased by 163% from USD 551 thousand to USD 1448 thousand. Precious Woods Amazon achieved profitability for the first time and the group as a whole achieved positive operating cash flow.
For the current year, Precious Woods again expects to achieve further growth in sales and net earnings. The acquisition of further forests and operations is underway.
Precious Woods was founded in 1990 in Costa Rica where more than 20 valuable species of trees, primarily teak, are planted to reforest abandoned pasture land. Since 1996 Precious Woods Amazon has pioneered the sustainable management of existing forests in Brazil. Sustainable management means that no more wood is harvested than naturally grows back in the harvest period. The forests are protected from clear cutting and slash and burn clearing. The local labour force is provided with permanent jobs. All Precious Woods business units are certified according to the standards of FSC (Forest Stewardship Council). The timber is processed in two saw mills and processing plants and marketed world wide.
end of announcement euro adhoc 21.05.2002
Kontakt:
Precious Woods Holding AG, Zug
Dr. Theodor Scheidegger, CFO
Tel. 41 1 245 80 10
mailto:office@preciouswoods.ch
Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Börsen: SWX Swiss Exchange