The European Investment Bank ( EIB ) confirmed details of the first EIB support for forestry related investment in Ireland in 20 years . The new Euro 90 million longterm loan from the European Investment Bank will be used to finance the cost of planting , forest management and forest road construction and maintenance by |
Ireland ’ s state-owned , commercial forestry company Coillte over the next four years .
Under the new investment , more than 35,000 hectares will be replanted and more than 1,600 km of forest roads will be constructed and upgraded . The scheme will also improve maintenance of 1,000 km of publically accessible walking
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routes and mountain bike trails .
Coillte ’ s Chief Executive Fergal Leamy said the new funding received from EIB combined with the refinancing arrangements secured with its five syndicate banks will be key in enabling the company achieve its strategic ambitions .
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Coillte ’ s Chief Executive Fergal Leamy |
Ponsse ’ s FY 2016 consolidated net sales amounted to Euro 517.4 million , which is 12 % more than in 2015 . International business operations accounted for 76.6 % of net sales .
The operating result amounted to Euro 55.2 million , compared to Euro 56 million in 2015 .
The operating result equalled 10.7 % of net sales for 2016 .
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Consolidated return on capital employed ( ROCE ) stood at 30.7 %. Order intake for the period totalled Euro 493.8 million , while period-end order books were valued at Euro 123.9 million .
Juho Nummela , CEO and President , said : “ The year 2016 was a year of strong growth for Ponsse . During the first half of the year , our business operations
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developed favourably , but during the second half we did not reach the previous year ’ s excellent level of profitability . We were able to keep our profitability still at a moderately good level of 10.7 %, grow about 12 %, and reach a positive cash flow from business operations of Euro 53.7 million . Exports made up 76.6 % of our operations .” |
Juho Nummela , CEO and President |