Tornator’s net asset value exceeded €1 billion – sustainability and profitability go hand in hand in the forestry company

Financial statement release, published in Finnish 9 February 2022 at 8.00 AM

SUMMARY 1 JAN–31 DEC 2021                                      

  • Net sales increased to €128.6 million (+8.8%). The expansion of the silviculture services business and successful timber delivery increased net sales.
  • The group’s forestland value increased to €2.2 billion (1.8). Operating profit at fair value amounted to a record €439.2 million (+212,4 %), as did the net profit, at €377.4 (121.1). Equity rose to almost €1.3 billion and return on equity at fair value was 34.6%.   
  • Adjusted operating profit amounted to €90.0 million (91.9), and the adjusted net profit stood at €61.1 million (56.8).
  • The company published its ambitious climate and biodiversity programs for 2021–2030.
  • Refinancing the group’s long-term loans and arrangement of the interest rate hedges reduced the company’s financial expenses and extended the debt financing maturity.
  • The company acquired some 11,000 hectares of new forest assets in Finland

Complete release attached

For further information, please contact:

Chief Executive Officer (CEO) Henrik Nieminen, tel. +358 40 869 7613

Chief Financial Officer (CFO) Antti Siirtola, tel. +358 40 773 0975

Tornator is a leading specialist in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2021, the group’s net sales were some €129 million, and the balance sheet value was about €2.4 billion. The group has around 190 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.



Tornator_Oyj_Financial statements release_2021

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