State forest company’s revenue, profit down last year

Kočevje – The state-owned forestry company SiDG, which has been managing state forests since July 2016, reported revenue of EUR 56 million and a net profit of EUR 7.5 million for 2020, a drop of 15% and 34% respectively compared to the previous year.

The volume of logging decreased as SiDG cut 1.14 million cubic metres of timber last year, compared to 1.29 million cubic metres in 2019, according to documents prepared for the company’s annual general meeting.

Almost 1.15 million cubic metres of forest products were sold, a decrease of 15% compared to 2019. The company achieved an average selling price of EUR 47.21 per cubic metre, which is EUR 1.17 less than in 2019.

Coniferous wood dominated the sales of timber last year, accounting for 58% of all products sold. The share of conifers was however lower than in 2019, when it stood at 65%, reflecting a decreasing share of trees that had to be cut in previous years due to bark beetle outbreaks.

Investments totalled EUR 3.4 million. The company also acquired 2,184 hectares of forests on behalf of the state.

SiDG closed last year with an accumulated profit of just under EUR 3.7 million, which will be paid into the state budget pending a decision by the government as the sole shareholder.