RMK earned the second largest profit in 2021 21.03

RMK’s Supervisory Board approved the audited annual report of 2021 according to which RMK’s profit totalled 221.3 million and business profit totalled 84.4 million euros. RMK’s revenue has only been more than that in 2018 – 89 million euros.

As per usual, the sales of timber made up the largest part of RMK’s revenue – a total of 218.8 million euros. The main reason for the increase in revenue was the increase in prices – while one cubic meter of timber cost 45.8 euros on average in 2020, it was 57.1 euros last year. At the same time, RMK sold less timber than the year before – 3.8 million cubic meters in 2021, 4 million cubic metres in 2020.

The sold timber is divided in the following way: 45% logs, 32% pulpwood, 16% fuel wood and 7% chips).

Export of timber from forests. Photographer: Kaupo Kikkas.

The Supervisory Board proposed to pay 32.7 million euros as dividends in accordance with the State Budget Act. Last year, RMK paid out 33.4 million of dividends to the state.

RMK’s Chairman of the Supervisory Board Randel Läts assessed the financial year as a whole to be a success. “We were able to use the increase in price on the timber market for our benefit and through that we earned 50 million more revenue that we could have predicted in the beginning of the year. At the same, we need to acknowledge that we still have room to develop in reconciling the residents’ expectations with the forest management practices.

“Out of the money we earned from the sale of timber, 19.5 million euros went to the renovation and maintenance of the forest, 23.5 million euros to the construction and maintenance of forest roads, 8.7 million euros to the organisation of forest visits and nature education and 4.1 million euros to the nature conservation work.

You can read the approved annual report and income statements in 2022 from RMK’s website.

Further information:
Randel Länts
RMK Chair of the Board
+372 5084 537

Sille Ader
Head of the Communications Department at RMK
+372 5666 5896