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Abonner Precious Woods Holding Ltd.

Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding Ltd.
quarterly or semiannual financial statement
Precious Woods achieves solid first quarter result

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
3-month report
21.05.2008
Precious Woods increased net sales of timber and energy by 187% to 
USD 33.3 million compared to the same period of the prior year. The 
first quarter operating result increased by 59% to USD 4.0 million 
and the net profit grew by 48% to USD 3.8 million compared to prior 
year. The increase in sales and profit was primarily due to the newly
acquired companies in Gabon; however, organic growth still 
contributed 23% to the increase in trading sales.
The acquired business in Gabon developed well, in line with 
expectations: In the first quarter, the Gabonese companies achieved 
sales of USD 19.1 million and an operating profit of USD 1.9 million.
Brazilian operations contributed USD 0.7 million to the operating 
profit, with the improvement mainly due to the restructuring programs
implemented in the prior year. The temporary shut down of our saw 
mill in Belém will only impact cost in the second quarter.
On the other hand, the operating result of the trading company 
Precious Woods Europe lagged expectations. This company not only 
suffered from delays in shipments from Brazil at the end of 2007, but
also from the increasing replacement values for timber. The sales 
prices for timber stabilized at high level. In order to support the 
integration and growth of the Group, management resources at the 
corporate head quarter were strengthened. Associated corporate 
overhead expense increased, however, below the growth of Group sales.
Precious Woods (SWX: PRWN) 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 44 245 80 10
E-Mail: office@preciouswoods.com

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

Plus de actualités: Precious Woods Holding Ltd.
Plus de actualités: Precious Woods Holding Ltd.