EANS-Adhoc: Precious Woods revises its expected operating results for 2011
02.12.2011 – 18:33
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information/Sustainable management and use of tropical forests and plantations 02.12.2011 Zug/Zurich, 2 December 2011 - Due to a series of factors, Precious Woods Holding Ltd is revising downwards its operating results (EBITDA) forecast of at least USD 2 million for the current financial year, as issued in its Half-Year Report. This correction is a result of both internal and external influences. Due to capacity constraints at the port of Libreville, Precious Woods Gabon was able to ship only a portion of its products, and the starting phase of production at the new hardwood sawmill, opened on 1 July 2011, was initially slower than expected. What is more, sales in Brazil have been lower than anticipated, resulting in further additional severance costs as part of the turnaround process. The revised EBITDA forecast is now in the order of USD -2 to -3 million, which nevertheless still represents an improvement of around USD 7 million on the previous year, primarily attributable to operational progress. end of ad-hoc-announcement ================================================================================ Precious Woods is one of the worlds leading companies in the sustainable management and use of tropical forests and plantations. The companys 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 wood waste represent further integral elements of the companys business. Shares of Precious Woods Holding Ltd. have been listed on the SIX Swiss Exchange since March 2002. Additional information about Precious Woods can be found at www.preciouswoods.com Further inquiry note: Precious Woods Holding AG Brunhilde Mauthe Head of Group Communications & Marketing Services Tel. +41 44 245 81 20 Fax +41 44 245 81 12 media@preciouswoods.com end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Precious Woods Holding Ltd. Baarerstrasse 135 CH-6301 Zug phone: +41 44 245 80 10 FAX: +41 44 245 80 12 mail: office@preciouswoods.com WWW: http://www.preciouswoods.com sector: Forestry & Timber ISIN: CH0013283368 indexes: SPI stockmarkets: Main Standard: SIX Swiss Exchange language: English