State forestry commission the RMK has reported a revenue of €187.5 million and operating profits of €82.4 million for 2020. Over half of the profit arose from the sale of land in southwest Estonia earmarked for a wind farm.
The annual report showed good results, RMK board chair Hardi Tullus said, while good progress was made in conservation and recreational areas, he added.
€42.9 million of the operating profits arose from the sale of the Tootsi site in Pärnu County in February 2020.
The plot sold for over €51 million, more than four times its estimated price, at auction, and was sold by another state firm, electricity generator Eesti Energia.
The other half of the RMK’s operating profit derived from timber sales, though this was affected by a 20 percent fall in world prices on year. While the price of logs and pulpwood stabilized through 2020, the price of firewood continued to fall, the RMK says.
At year end, timber log prices rose to a now record-level, the RMK adds, meaning that its forecast for 2021 is for results of a similar level as 2020.
Read more: ERR.EE