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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.
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Earnings Forecast/Sustainable Forestmangement
21.02.2013
Zug/Zurich, 21 February 2013 - Due to the deepened recession in the Benelux
countries sales of the business unit Europe turned out worse than previously
anticipated. Additionally, in the final weeks of last year, the veneer plant in
Gabon faced a technical problem, which has been solved by now. However, it led
to a short term production decrease. Hence, Precious Woods will not achieve the
previously anticipated EBITDA result equivalent to the result in 2011. The group
now expects an EBITDA result for 2012 of between USD - 3 to - 4 million.
Despite continued efforts to secure land rights in Brazil the group books
additional provisions in the amount of USD 1.4 million. This is done as a
precautionary measure in order to account for newly available information on
land titles.
At the same time it can be noted that the Group's liquidity is assured for the
current year as a result of the successful placement of two Convertible Bonds
and further cost reductions.
The detailed business results shall be published on 30 April 2013.
end of ad-hoc-announcement
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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. The generation of emission rights and electricity
from wood waste represent further integral elements of the company's 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
This document includes forward-looking statements that reflect the Company's
intentions, beliefs or current expectations and projections about the Company's
future results of operations, financial condition, liquidity, performance,
prospects, strategies, opportunities and the industry in which it operates.
Forward-looking statements involve all matters that are not historical fact.
Such statements are made on the basis of assumptions and expectations which,
although the Company believes them to be reasonable at this time, may prove to
be erroneous.
Further inquiry note:
Precious Woods Holding AG, Jacqueline Martinoli, Head of Finance /
Communications, Tel. +41 44 245 80 15, Fax +41 44 245 81 12,
media@preciouswoods.com
end of announcement euro adhoc
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issuer: Precious Woods Holding Ltd.
Baarerstrasse 79
CH-6301 Zug
phone: +41 44 245 80 10
FAX: +41 44 245 80 12
mail: media@preciouswoods.com
WWW: http://www.preciouswoods.com
sector: Forestry & Timber
ISIN: CH0013283368
indexes: SPI
stockmarkets: Main Standard: SIX Swiss Exchange
language: English