Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding Ltd.
Precious Woods: Increase of operating income below expectations in first semester

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Revenue Report 2nd Quarter 2008


Precious Woods was able to increase operating income by 50% compared to the prior year from USD 42.4 Mio to USD 63.5 Mio. The increase in local currencies only amounted to 30% and was thus significantly below expectation for two reasons:

1. Technical issues at the rotary veneer plant TGI in Gabon: The yield of first grade product was significantly lower than previously achieved which led to reduced revenue at constant cost. Specialists of the manufacturer have identified the deficiencies and provided proposals to rectify these. In the third quarter, a new technical director will assume management of the rotary veneer plant.

2. Low supply and too high demand for international shipping capacity: This led to significant delays in the shipping of product sold by Gabon and consequently to a delay of a portion of the revenue. Since the beginning of July this situation has begun to slightly ease.

On the other hand, revenue from energy and emission rights increased. Precious Woods Amazon also increased sales. Precious Woods will issue the full half year report in the second half of August at which time the business development of all segments will be reported.

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

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ots Originaltext: Precious Woods Holding Ltd.
Im Internet recherchierbar:

Further inquiry note:
Sandra Demi
Tel. +41/44/245'80'10

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

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