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RMK to pay €30 million dividend to state

Estonia's forests are managed by the RMK.
Estonia's forests are managed by the RMK. Source: (Sander Ilvest/Postimees/Scanpix)

The supervisory board of the State Forest Management Centre (RMK) has endorsed the company's audited annual report for 2016, according to which its revenue totaled €178 million and operating profit €50.6 million.

The supervisory board has proposed to pay the state a dividend of €30 million. Last year, the RMK paid €19.6 million into state coffers.

RMK sold four million cubic meters of timber in 2016, 10 percent more than during the previous year. Timber prices were stable throughout the year, but thanks to increased sales volumes, the company's revenue grew 8 percent in annual comparison and its profits swelled 40 percent.

RMK manages a total of 971,000 hectares of forests whose value as a biological asset has been determined to be €2.92 billion. The company is targeting €178 million in sales and a profit of €39 million in 2017.

Editor: Aili Vahtla

Source: BNS

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