Coillte said sawlogs to sawmill customers were down 230,000m3 in 2020. \ Donal Magner
The ongoing forestry license backlog has seen Coillte’s revenues fall by €42m, its annual results for 2020 shows.
Coillte said sawlogs to sawmill customers were down 230,000m3 and sales of pulpwood were down by 170,000m3.
Coillte earnings before interest, tax, depreciation and amortisation (EBITDA) of €66m was down on the previous year’s €103m, while revenues of €285m were well down on 2019’s €327m.
Operating profit was €29.1m compared with €63.3m in 2019.
Coillte generated operating cash of €24m during 2020 and closed the year with net debt of €28m.