RMK’s sales turnover for the first nine months was EUR 115.8 million. 28.10

In the first nine months of this year, RMK earned a profit of EUR 24.2 million on a sales turnover of EUR 115.8 million. Compared to the same period last year, the turnover increased by 4.1% and the profit by 13.8%.
According to Aigar Kallas, Chairman of the Management Board of RMK, the increase in turnover and profit numbers is due to favourable weather conditions that have permitted timber to be collected at a faster pace. “Lack of snow at the beginning of the year, as well as a dry summer and autumn, have allowed us work effectively in the forest,” Kallas said. “So far, demand on the timber market has been modest in terms of lower quality timber, i.e. firewood. Therefore, we have sold material that is more expensive than average and the inventory of lower price material has increased.” Nevertheless, from the last quarter of the year, RMK is expecting an increase in firewood demand and thus the end of year results, according to Kallas, are approaching the budget forecasts.

In nine months, RMK sold 2.3 million cubic metres of timber for a total of EUR 108.4 million. The average sales price of timber (logs, paper wood, and firewood) settled at EUR 47 per cubic metre, up 7% year on year. In the first nine months of the year, RMK sold cutting waste and wood chips in the volume of 0.1 million cubic metres for EUR 3.3 million, with an average sales price of EUR 30.40 per cubic metre, up 8% year on year.

In its budget for 2014, RMK estimated this year’s sales revenue at EUR 140 million and profit at EUR 15 million.

RMK is the keeper, protector and manager of the forest and other natural biotic communities belonging to the Republic of Estonia. RMK earns a profit for the state through forest management, growing reforestation material, and organising forest and nature protection works. In addition, RMK establishes opportunities for nature walking and shapes nature awareness. RMK consists of the Sagadi Forest Centre, the Elistvere Animal Park, 70% of the Estonian-Finnish joint company AS Eesti Metsataim and the Põlula Fish Farm. More than 700 people work for RMK.