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MOSCOW, September 18 (Itar-Tass) — Russian President Dmitry Medvedev has congratulated all the employees and veterans of the Russian timber industry on Day of Forestry Workers. This is said in the head of state’s congratulatory telegram the text of which was placed on the Kremlin website on Sunday.
“Forests cover almost half the territory of Russia and are our national treasure. An attitude of case towards the forestry fund, its management is an absolute national priority,” the president noted.
“Today, it is important to ensure the dynamic development of the domestic timber industry. First of all, by attracting investments in high technology projects for deep processing of timber. It is necessary to systematically and efficiently carry out fire prevention measures, focusing on prevention. And certainly to persistently engage in environmental and educational programs,” Medvedev is certain.
“I hope that your knowledge, professionalism and responsible attitude to business will help achieve these goals,” the head of state noted.
Profitability ratio of Russian forest industry companies decreased harshly in 2008, as indicated in the annual Top 50 Russian Forest Industry rating published by Lesnaya Industriya Russian magazine.
On the results of 2008, joint revenue of companies listed in the Lesnaya Industriya’s Top 50 amounted to 216.34 billion roubles ($7.19 billion). Ten largest companies had over 70 percent of the total Top 50 joint revenue. Joint net benefit of 50 companies made up 6.26 billion roubles ($208.1 million). Share of woodworking companies that do not deal in pulp and paper business was slightly over 27 percent of the total revenue and 26.8 percent of the total net benefit.
Average profitability ratio of Top 50 companies decreased to 0.7 percent, compared to 9.0 percent in the previous year. Woodworking companies’ profitability was slightly higher than that of pulp and paper companies (5.7 percent and 4.9 percent respectively). Only four of the Top 50 companies managed to reach a double-digit profitability ratio.
Zelenodolskiy plywood plant had the highest profitability ratio (17 percent) in 2008. The fastest-growing forest industry company in Russia was United Panel Group, which revenue boosted by 89.5 percent up to 3.04 billion roubles. Among pulp and paper companies, the fastest-growing was Obyedinyonnye bumazhnye fabriki (United paper mills, +49.6 percent up to 1.76 billion roubles).
Ilim Group gained the largest net benefit un 2008 (1.67 billion roubles) and was also listed in the Top 50 forest industry companies as having the largest revenue (37.92 billion roubles).
The Top 50 Russian Forest Industry rating is prepared and published by Lesnaya Industriya magazine on the base of companies’ accounting reporting and data provided by the companies.