Group Performance 2011

2011 Highlights

  • Profit after taxation of €19.9m resulting primarily from strong log prices in Ireland and improved prices for our panel products in the UK and other export markets
  • Group debt was successfully re-financed
  • €10m dividend paid to shareholders
  • Revenue from new products hit €12.5m, demonstrating the value of our investment in innovation
  • Cost savings of €4.4m achieved as a result of transformation programme
  • Planted approximately 14m trees on 5,641 hectares and built and upgraded 375km of forest roads, representing an investment of €34.5m in renewing and developing the estate
  • Launched Medite Tricoya, the world’s first fully weatherproof 'Extreme Durable MDF' wood panel product, developed in partnership with Accsys Technologies
  • SmartPly Europe Limited was nominated in the Export Category in the HSBC European Business Awards
  • Planning permissions granted for wind farms in Cloosh Valley in County Galway and Sliabh Bawn in County Roscommon
  • World class sustainability credentials endorsed with achievement of 10 years of Forest Stewardship Council® (FSC®) Certification and its retention for a further 5 years
  • First biomass supply contract signed with Astellas Pharmaceuticals in County Kerry
  • Our Native Woodland Restoration Project, part of the EU LIFE Programme, was recognised by the European Commission as being in the top 6 projects in Europe in 2011
  • Network of Mountain Bike Trails extended to 5 with the opening of the first purpose built trail in the Dublin Mountains