euro adhoc: Precious Woods Holding Ltd.
Annual Reports
Strong Growth at
Precious Woods. Capital increase planned with shareholder options.
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
annual report
24.04.2008
Precious Woods posted total operating income of USD 99.8 million for 2007, an increase of two-thirds on the previous year. Timber and electricity sales rose by more than 100%. The major share of this increase was due to the newly acquired companies in Gabon. By contrast, revenue from emission reduction activities amounted to only one-third of the prior year revenue which had included emission rights accumulated from previous years.
Operating profit increased by 100% to USD 7.8 million. Net profit also doubled to USD 10.8 million. The lower profit from emission reduction activities was offset by a gain from the revaluation of investment property in Costa Rica.
Detailed information about the results for the year is given in the 2007 Annual Report, which was sent out to shareholders and published on www.preciouswoods.com.
In the current year, Precious Woods aims to invest over USD 20 million to improve sales and profitability. In order to maintain the healthy balance-sheet structure with a high equity ratio, a capital increase representing 10% of the current authorised capital will be proposed to the Shareholders´ Meeting. This capital increase will be conducted by the issue of listed shareholder options. These will be distributed to shareholders free of charge granting the right to subscribe to new shares probably until the end of October 2008, at a strike price approximately one-third less than the stock market value.
Precious Woods is an international company active in the sustainable management and use of tropical forests. The company's 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 recovery wood represent further integral elements of the company's business. The shares of Precious Woods Holding have been traded on the SWX Swiss Exchange since March 2002. Further information about Precious Woods is available at www.preciouswoods.com.
end of announcement euro adhoc
Kontakt:
Precious Woods Holding AG, Zug
Dr. Ted Scheidegger, CFO
Tel. 41 1 245 81 11
mailto:office@preciouswoods.com
Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing