euro adhoc: Precious Woods Holding AG, Zug
Annual Reports
Modest Sales
Increase for Precious Woods
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
13.02.2006
In 2005, Precious Woods increased consolidated gross sales achieved in transactions with third parties by 7.7% to USD 18.3 million. For the first time, this figure includes power station-related sales in the amount of USD 2.7 million achieved over a seven-month period and Precious Woods Europe (formerly trading as A. van den Berg) sales of USD 1.9 million realized during a period of five weeks (preliminary, unaudited figures). Adjusted for acquisitions, sales fell by 14%. Precious Woods will publish its complete financial statements in April.
Precious Woods Amazon achieved a 6% sales increase. Due to the outstanding harvesting permit, Precious Woods Pará suffered a 44% sales drop. The Precious Woods Pará forestry operations activity was restricted for a period of several weeks and came to a complete halt between October and mid-December, when the harvesting permit was finally received. In 2005, the Brazilian authorities granted the harvesting permit only after an eight-month delay. In previous years, the procedure to obtain the harvesting permit had taken only a few weeks.
As a result of withheld harvesting permits and of an exchange rate that developed unfavourably for exporting companies, the Brazilian forestry and downstream wood processing sectors lost tens of thousands of jobs. A few days ago, the Brazilian Parliament adopted a new act on forest management. This should improve the situation for legally compliant forestry businesses.
Precious Woods (SWX: PRWN) is active in the reforestation and sustainable management of tropical forests, downstream wood processing and trading of FSC-certified timber and non-timber forest products. The shares of Precious Woods have been listed on the SWX Swiss Exchange since March 2002. More information about the company and its activities may be found on the website www.preciouswoods.com.
end of announcement euro adhoc 13.02.2006 19:00:00
Kontakt:
Precious Woods Holding AG, Zug
Dr. Andreas Heusler, CEO
Tel. 41 1 245 80 10
mailto:office@preciouswoods.ch
Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing