euro adhoc: Precious Woods Holding AG, Zug / Annual Reports / Precious Woods returns to profit in a period of growth

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annual report

26.04.2007

Precious Woods has achieved an almost threefold increase in total
operating income: from USD 20.6 million in 2005, to USD 59.9 million
in 2006. Net profit for 2006 amounts to USD 5.3 million, compared to
a prior year loss of USD 7.5 million.

About two thirds of the increase in turnover are attributable to the
integration of the European trading company, Precious Woods Europe,
and the power plant in Brazil. In addition, revenue from emission
rights contributed to income for the first time, and in the second
semester, the upward price momentum in timber markets also had a
significant impact on turnover.

In the first semester of 2006, the Brazilian operations once again
had to contend with losses and valuation adjustments, which is why
the optimistic earnings forecast made in the spring of 2006 could not
be met. By the end of the year, however, a package of restructuring
measures and the rise in timber prices had stemmed the operating
losses. The Precious Woods Group reports a full-year profit
significantly above its pessimistic mid-year predictions. At USD 5.3
million, the 2006 net profit also surpasses the company’s previous
profit record of USD 3.3 million achieved in 2004.

2007 has started well for all the Group’s businesses. In particular,
the positive price developments in timber markets continue. As a
result of the acquisition of the Gabon-based companies, Precious
Woods expects sales of timber in the current year to increase by
around 75%. Revenues from the sale of emission rights, on the other
hand, will be significantly lower. The increase in value of the
plantations in Central America is expected to be in line with the
normal pattern of the past years. Provided there are no exceptional
events, the company anticipates that in 2007 both total revenues and
net profit will increase by around 50% compared to 2006.

Precious Woods is an international company active in the sustainable
management and use of tropical forests. The company’s core activities
include the reforestation and sustainable management of tropical
forests, timber processing and the trading of FSC-certified wood
products. The generation of emission rights and electricity from
waste wood are further integral parts 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 under www.preciouswoods.com.

end of announcement euro adhoc 26.04.2007 06:00:00
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ots Originaltext: Precious Woods Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Kontakt:
Precious Woods Holding AG, Zug
Dr. Theodor Scheidegger, CFO
Tel. 41 1 245 80 10
mailto: office@preciouswoods.com

Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing


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