Supervisory Board approves RMK's fiscal year report for the year 2020 31.03

The RMK Supervisory Board approved the fiscal year report audited in 2020, according to which RMK's turnover for that year was 187.5 million euros (218.7 million euros in 2019) and their commercial profit was 82.4 million euros (75.6 million euros in 2019).

Commercial profit was earned from selling wood; 42.9 million euros were earned from the sale of property in Tootsi wind farm. In 2020, 66.0 million euros were paid into the national budget in dividends. 4.7 million euros was paid to local governments in the form of land tax. The volume of wood sales in 2020 was 4.0 million euros per cubic meter (3.9 million in 2019). The wood sold was divided as follows: logs 46%, paper wood 32%, firewood 16% and woodchips 6%.

RMK's Supervisory Board deemed the 2020 financial results very successful, according to the Chair of the Supervisory Board, Hardi Tullus. "Despite the corona pandemic, RMK managed to hit its profit goals. More importantly though, it must be noted that record results were achieved in performing nature conservation efforts and hosting visitors in forests all around Estonia," explained Hardi Tullus. State forest hiking paths and recreational areas netted 2.9 million visits in 2020; the restoration of natural habitats were completed on more than 6500 hectares.

Profits from selling wood were affected by the prices on the wood market in 2020, which had fallen by one-fifth since 2019. The prices of logs and paper wood stabilised throughout the year, but the price of firewood continued to fall. However, at the end of 2020, the prices of logs began to climb again, having now attained a record high. This allowed RMK to prognose similar economic results for 2021 to those achieved in 2020.

Further information:
Hardi Tullus
Chair of RMK Supervisory Board
telephone: +372 509 8598

Sille Ader
Head of RMK Communications Department
telephone: +372 5666 5896