27.03.2009 - Supervisory Board approved audited financial results of 2008 for RMK 27.03

The Supervisory Board of RMK, which assembled today, approved the annual report of the company for 2008, according to which the sales revenue of RMK last year was BEEK 1.669 and profit MEEK 110.7.

The forest revenue entered by RMK into the state budget in 2008 was MEEK 216.2 and in addition, the Supervisory Board of RMK decided to allocate an additional MEEK 490 to the state budget at the expense of the retained profits from previous years.

Most of the sales revenue of RMK, BEEK 1.47, came from the sale of timber. As timber, RMK sold 2.1 million m³ at an average intermediate depot price of EEK 699 / m³ and as standing timber cutting rights 12 100 m³ at an average price of EEK 213 / m³.

“RMK profit in 2008 was affected by the increase in production inputs, i.e. transport and labour costs, but also the sudden drop in timber prices,” said Ülle Rajasalu, Chairwoman of the Supervisory Board of RMK. In January, a cubic metre of timber sold by RMK cost an average of EEK 897 and by December, it had dropped to EEK 549.

In 2007, the turnover of RMK was BEEK 1.595, of which the sale of timber accounted for MEEK 1.47. MEEK 228.2 of forest revenue was entered in the state budget, as well as MEEK 62 of land tax. The profit of RMK for 2007 amounted to MEEK 385.1. In 2007, RMK sold 1.98 million m³ of timber at an average intermediate depot price of EEK 740 / m³ and as standing timber cutting rights 21 300 m³ at an average price of EEK 183 / m³.

In order to increase the nature-awareness and nature-friendliness of people and to allow hiking in nature according to every man’s right, RMK spent a total of MEEK 48.5 in 2008. The various opportunities provided by RMK for forest recreation and hiking in nature were used a total of 790 000 times during the year.

RMK is a profit-making state agency established under the Forestry Act, aimed at sustainable and efficient management of the state forest. RMK grows reforestation materials, organises forestry works, is engaged in the sale of forest and timber and organises game upkeep. In addition, RMK establishes opportunities for hiking in nature and forest recreation on recreational areas, and shapes awareness of nature. RMK manages 38% of Estonian forests.

Additional information:
Ülle Rajasalu
Chairwoman of the Supervisory Board of RMK
Telephone: +372 511 7319
E-mail: ulle.rajasalu@envir.ee

Jaanus Laas
Financial Director of RMK
Telephone: +372 508 8744