Estonia, Markets and Companies, Woodwork
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Tuesday, 23.04.2024, 19:46
Estonian forestry group Lignator sees revenue, profit fall in its business year
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Demand for and supply of timber have been in balance for some time and the market position achieved earlier enabled the group to maintain large volumes in all its areas of operation, the board said in the annual report.
The subsidiary Lignator Mets however ended the business year with a loss, as purchase and management of properties is a continuous process whereas realization is cyclical and depends to a great extent on the current market state. The market was not propitious for realization in the ended business year, the board said.
Sales on the domestic market totaled 6.6 million euros, 4.8 million euros of revenue was generated on the British market and Germany accounted for three million euros.
The group employed an average of 22 people during the business year and its wage costs were 373,067 euros. A year earlier payroll costs totaled 310,468 euros with the same number of employees.
Founded in 1995, Lignator engages in the purchase and management of forest land and sale of roundwood and sawn timber.
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