Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding Ltd.
Earnings Forecast
Lower Growth of Revenue, Reduced Profit in Third Quarter of 2008

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Total consolidated revenue of the Precious Woods Group increased by USD 28 million to USD 91.5 million in the third quarter. This corresponds to a growth rate of 37% over the first nine months, compared to last year. After elimination of currency effects, growth rate results in 20%.

Sales in Europe, where Precious Woods has its most important markets, resulted lower than expected. Sawn timber sales suffered the most by the reduced demand. The market for prime round wood and veneer maintained its volume. Due to operational problems at the veneer plant the company in Gabon did not reach the expected sales figure. Sales prices for all these product lines, however, could be kept on the prevailing levels in most markets.

Revenue from timber and energy sales in Brazil was consistent with expectations; the same applies for revenues in Central America. The volume and the price for Carbon Emission Rights were considerably higher compared to last year.

Due to lower sales of sawn timber in Holland, lower output with high production costs at the veneer plant in Gabon, as well as the generally difficult market situation, Precious Woods will not achieve the earlier communicated results for the year 2008.

Precious Woods will publish the third quarter result in the first half of November together with detailed figures for the different businesses.

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

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

Further inquiry note:
Patrick Mauron
Head of Corporate Communication
Precious Woods Holding Ltd.
Militärstrasse 90
CH-8021 Zürich
Tel.:    +41 44 245 81 20

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

Weitere Meldungen: Precious Woods Holding Ltd.

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