Tornator Oyj
Financial Statement Release, released in Finnish on 10 February 2021 at 9:00 am
SUMMARY 1 JAN – 31 DEC 2020
- Net sales increased to €118.1 million (+11.6%) and the balance sheet increased to more than €2.0 billion
- Adjusted operating profit amounted to a record €91.9 million (+23,1 %), as did the adjusted net profit: €56.8 million (+33.1%)
- The Group’s long-term loans were completely renewed as green loans and bonds
- The company concluded a significant agreement on the expansion of forest services business and sold an extensive wind power project portfolio
- The company acquired almost 12,000 hectares of new forest assets in Finland
- The company carried out several projects that safeguard biodiversity
- The IFRS profit for the period at fair value was €121.1 million, the effect of the change in the value of growing stock being +€121.1 million and in interest rate instruments -€33.3 million before taxes
- Return on equity at fair value was 13.8%
Complete release and financial statements attached
For further information, please contact:
CEO Henrik Nieminen, tel. +358 40 869 7613
CFO Antti Siirtola, tel. +358 40 773 0975
Tornator is a leading company specialised in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2020, the Group’s net sales were some €118 million, and the balance sheet value was about €2.0 billion. The Group has around 180 employees. Tornator's own employees, and other companies and their employees working on its forestland, add up to around 1,000 person/years of employment. The owners of the parent company are Finnish, mainly institutional investors. Tornator's mission is to generate sustainable well-being from forests.
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