Stockholm, 2014-05-30 08:00 CEST (GLOBE NEWSWIRE) -- RusForest AB (publ) (“RusForest” or the “Company”) (NASDAQ OMX: RUSF), a Swedish forestry company with operations in Russia, today released its first quarter 2014 report.
First Quarter Highlights
Matti Lehtipuu, the Company’s Group CEO, commented: “2014 started well for RusForest as we delivered positive EBITDA for the first time in the company’s history. RusForest is on the right track. Our continued operational improvement measures are delivering results, and our sale of non-core assets is strengthening our financial position. Our Q2 2014 earnings will likely suffer from seasonality, but we are pleased with our progress to date.”
As of 31December 2013, the Boguchany business segment was classified as held for sale and its 2013 and 2014 results were included in the financial results as discontinued operations.
Management will host a telephone conference today at 11:00 a.m. CEST in order to review the first quarter 2014 results. Dial-in instructions and a presentation are available on the Company’s website at www.rusforest.com.
About RusForest AB
RusForest is a Swedish forestry company operating in Eastern Siberia and the Arkhangelsk region of Russia. The Company controls long-term timber leases and utilizes these resources to produce a wide range of sawnwood products and wood pellets. RusForest is listed on NASDAQ OMX Stockholm First North (ticker “RUSF”).
RusForest AB's Certified Adviser on First North is Pareto Securities AB.
For additional information, please visit the Company’s website at www.rusforest.com or contact:
Gustav Wetterling, Group CFO, telephone: +46 8 771 85 00