Published: 2017-02-24 13:01:00 CET
Tornator Oyj
Release

Tornator’s forests grow in value, wood in high demand in 2016

Imatra, Finland, 2017-02-24 13:01 CET (GLOBE NEWSWIRE) --  

SUMMARY 1 Jan – 31 Dec 2016 (1 Jan – 31 Dec 2015)

 

  • The Group's forest assets grew in value by 20.2%, to €1,256.9 million
  • The IFRS profit for the period at fair value was €172.9 million, the effect of the change in the value of growing stock being +€202.6 million and in interest rate instruments -€32,5 million before taxes
  • A record was set in the core business, timber sales: €88.1 million and some 3.0 million m3
  • Total net sales were €97.0 million, the drop of 14.6% being due to the previous year’s exceptionally large forestland sales
  • Net profit for the period was strong, €37.2 million
  • Cash flow from operations after financial items and taxes was €38.7 million
  • In Estonia, Tornator’s forestland increased by some 4,000 hectares and all forests were double-certified
  • Income taxes for the period totalled €9.3 million

 

Complete translations of Financial Statement Release and Financial Statements are attached.

 

For further information, please contact:

Sixten Sunabacka, Chief Executive Officer, tel. +358 400 366 148
Henrik Nieminen, Chief Financial Officer, tel. +358 40 869 7613


Tornator Oyj Consolidated Financial Statements 31 December 2016.pdf
Tornator Oyj Financial Statement Release 2016.pdf