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Abonner Precious Woods Holding Ltd.

Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding AG, Zug
Quarterly or Semiannual Financial Statements
Positive First-Half for Precious Woods Group (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
In the first six months of 2003 the Precious Woods Group increased
sales of timber by 69% to USD 4.285 million from USD 2.541 million
achieved in the first half of 2002. Net profits increased to USD 820
thousand compared to a loss of USD 133 thousand incurred in the first
six months of 2002. At the end of June 2003 shareholders' equity
amounted to 77% of total capital.
Brazil: Sales at Precious Woods are always weaker in the first half
compared to the second half as the timber harvest takes place from
June to December. Fresh logs only become available in sufficient
quantities and in all sizes during the second half. In the first
half-year it is necessary to consume the existing stock of round
wood. In 2002 first half sales were particularly weak so the current
strong rate of increase cannot be assumed for the year as a whole.
Precious Woods Amazon, Precious Woods Industries and Precious Woods
Pará all contributed to the impressive rise in sales.
Central America: The gain in the first half year arising from the
change in fair value of the growing trees amounted to USD 1.262
million compared to USD 975 thousand in the first half of 2002. In
the medium and the long term the half-year results are less important
than the fact that there has been a marked improvement in the growth
of the trees in the largest finca which in the past had been a cause
for concern. An initial 800 hectares of abandoned pasture have been
acquired in Nicaragua. Trees will be planted on this land during
during the current and coming years and further land purchases are
planned.
Trading Company and Group: The Swiss trading company has been
affected by the absence of major orders for pilings. On the other
hand, sales of sawnwood to Germany, Switzerland and Austria have
experienced strong growth and sales to Spain, Italy and Scandinavia
have also increased. Group costs are rising in line with
expectations. The expansion of the Precious Woods Group, the listing
on the stock exchange and new projects all require a somewhat larger
administrative organization.
Outlook: Precious Woods expects a significant increase in sales and
profits for the full year 2003.
The detailed half-year results and accompanying commentary are sent
to all registered shareholders and are available to all interested
parties on the website www.preciouswoods.com
end of announcement        euro adhoc 14.09.2003

Kontakt:

Precious Woods Holding AG, Zug
Dr. Andres Gut, CEO
Tel. 41 1 245 80 10
mailto:gut@preciouswoods.ch

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.