RMK’s preliminary financial results: turnover 178.5, profit 52 million euros 05.02
According to the preliminary financial results, in 2017 RMK’s turnover amounted to 178.5 million euros and the profit to 51.7 million euros, which is the best result of all time.
In 2017, RMK sold 3.8 million cubic metres of timber for 171 million euros. “RMK has never been able to earn such profits. While the sale of timber decreased by 5% when compared to the year before, the price of timber increased and it was also possible to cut costs when compared to the initial plans,” explained Aigar Kallas, Chairman of the Management Board of RMK. “The financial results were affected by the complicated weather conditions that, on the one hand, did not enable regular works to be carried out in the forest but, on the other hand, increased the price of timber on the market. What is most important, is that we managed to ensure work in the forest for our partners and fulfil almost all sales contracts.”
The volume of silviculture work in 2017 was similar to that of the previous year. There were 21.2 million trees planted as forests, which is a million more than in 2016. Reforestation sites were maintained on 24,600 hectares, cleaning was carried out on 19,000 hectares and thinning in middle-aged forests on 8700 hectares.
In 2016 RMK earnt a profit of 50.3 million euros with a turnover of 178 million, with the sale of timber amounting to 4 million cubic metres.
RMK is estimating a turnover of 178 million for 2018, of which a profit of 41 million euros is expected.
RMK or the State Forest Management Centre is taking care of around 30% of the total land area of Estonia, where 45% of the Estonian forests are located. RMK is the keeper, protector and manager of the forest and other natural biotic communities belonging to the Estonian state. RMK cultivates forest, preserves the assets of nature, earns income to the state by managing the forest, creates opportunities for visiting the nature and provides natural education.