16.04.2008 - RMK financial results for the first quarter of 2008 10.10

In the first quarter of 2008, the sales revenue of RMK was MEEK 584.9, which exceeds that of the same period last year by MEEK 147.4. RMK earned the bulk of its income from the sale of timber and standing crop, while the revenue obtained from other activities amounted to MEEK 6.1.

“The average sales price of timber has, because of a dramatic price reduction of timber used for paper production, dropped by EEK 147 per cubic metre compared to the last quarter of the previous year,” said Jaanus Laas, the Financial Director of RMK. “Based on the sales contracts entered into for the second quarter, the price reduction is expected to continue”.

In the first quarter of 2008, RMK sold 660 000 cubic metres of timber for MEEK 541.3, with an average price of EEK 821 per cubic metre. As to the standing crop, RMK mostly sold sanitary cutting rights in the first quarter. The average price of firewood obtained from sanitary cutting was EEK 226 per cubic metre.

RMK used a total of MEEK 5 in the first quarter to provide opportunities to spend time in nature based on everyone’s right and for promoting the nature awareness of people. RMK earned MEEK 3 from hunting services (sale of hunting packages, hunting products and hunting permits) in the first quarter of this year.

RMK is a profit-making state agency, formed pursuant to the Forest Act, whose main objective is the effective and sustainable management of the state forest. In addition to that, RMK creates possibilities for recreation in the Estonian state forest and develops nature friendly attitudes. RMK maintains 38% of Estonian forests.

Further information:
Jaanus Laas
Financial Director of RMK
GSM +372 508 8744
E-mail: jaanus.laasrmk.ee