RusForest releases Q2 report 2014

RusForest AB, a Swedish forestry company with operations in Russia, has released its second quarter 2014 report.

Within this report the company revealed that, during the three months ended 30 June, it produced 12,830 tonnes of wood pellets at its production plant in Arkhangelsk.

Additionally, revenue from continuing operations during this period reached $17.8 million (€13.5 million), compared to $15.2 million for the same three months in 2013.

RusForest's CEO Matti Lehtipuu comments: 'We are pleased to continue delivering positive EBITDA results despite the seasonal slowdown in the second quarter. While the market seems to be focused on geopolitical events between Russia and Ukraine, we believe RusForest is a unique investment opportunity with a management and major shareholder that now has a proven track record and a viable business model.'

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