Covid-19 has had an impact on most industries, but Global Timber has had a good financial year with a record turnover of DKK 317.8 million and a profit before tax of DKK 21.4 million.
Both revenue and the positive bottom line are above expectations for the Danish wood wholesaler. One of the reasons for the increase in turnover can be found on the grounds of the company. Here, you’ll find the largest hardwood warehouse in Northern Europe, which has contributed to Global Timber being able to supply many of the desired quantities of wood. In this way, the large stock has helped to ensure that the challenges with shipping have not had the major consequences for sales.
The management of Global Timber is very satisfied with the result, and CEO Anders Bitzer continues:
“Our employees have made an enormous effort across the company, which has helped us to achieve this result in such a special year. That is why we have chosen to give a bonus of DKK 1 million to our employees. as an extra thank you for the great effort. ”
The year has been characterized by a turbulent market with rising purchase- and shipping prices, delays in deliveries and declining supply of raw materials.
Anders Bitzer expects the challenges to continue in 2022, but he remains optimistic about the coming year:
“We can see a great demand for our certified wood as the manufacturing and the construction industry incorporate more and more sustainable materials into their work. That is why we also believe that the sustainable path will gain more and more ground in the coming time, which of course has a positive impact on our business and the industry as a whole. ”
|Result primary operation||22.745||6.926||11.828|
|Result before taxes||21.419||6.088||11.085|
About Global Timber
Global Timber was established in 2006, and since then the company has imported and exported hardwood to and from 51 countries on six continents. The company has the largest hardwood warehouse in Northern Europe and is also Scandinavia’s leading hardwood wholesaler.
Global Timber goes to great lengths to be present throughout the value chain; from selection of the raw wood, through the shipping process on to the further processing of the wood, to the professional advice and the precise delivery of the desired quality.
Global Timber is a subsidiary of GT Group. The group has 38 employees at its head office in Aarhus and an office in Malaysia.