2021 was the most successful year in terms of financial performance for JSC “Vologda Group of Companies “Timber Industry”. For the year VLP added 3 points and rose from 18th to 15th place in the rating of analytical agency WhatWood “Top 100 forestry companies in Russia”.
The proceeds of all Russian timber companies have soared by 30% to 2.9 trillion rubles, the net profit – in 3 times to 460 billion rubles. In this case the proceeds of TOP-100 largest companies in the wood industry grew by 43.5% to 1.77 trillion rubles. Almost 30 billion of them “made” “VLP. This is 61% higher than the previous year.
Alexander Churkin, Chairman of the Board of Directors of JSC “Vologda Timber Industry Group”:
“Vologodskie Lesopromyshlenniki is traditionally included in the top 20 largest timber companies in Russia (according to WhatWood’s “Top 100 companies in the Russian timber industry” rating). It is gratifying that in the previous year we have strengthened our position. The main factor that made it possible to achieve such results in 2021 was, among other things, a significant increase in prices for all forest products in the Russian and global markets”.
In 2022 the Russian timber industry faced restrictive and sanction measures of an unprecedented nature. To date, VLP, as well as the entire Russian timber industry has serious problems related to logistics, the closure of high-margin export markets, the import of technology, equipment, machinery, excessive strengthening of the national currency, etc.