{"id":85000,"date":"2023-04-19T08:15:06","date_gmt":"2023-04-19T08:15:06","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/gwmi-interview-current-trends-and-outlook-for-the-estonian-wood-industry\/"},"modified":"2025-09-19T08:59:54","modified_gmt":"2025-09-19T08:59:54","slug":"gwmi-interview-current-trends-and-outlook-for-the-estonian-wood-industry","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/gwmi-interview-current-trends-and-outlook-for-the-estonian-wood-industry\/","title":{"rendered":"Current trends and outlook for the Estonian wood industry"},"content":{"rendered":"

\"\"<\/p>\n

TIN has interviewed Pierre Guidon , President of the company SAS ADIBOIS, about the current state of the Estonian wood industry, the consequences of the war in Ukraine, inflation and rising costs and expectations for 2023.\u00a0<\/span><\/span><\/p>\n

GWMI:<\/strong>\u00a0How would you describe the current state of the wood industry in Estonia?<\/em><\/p>\n

Pierre Guidon (in the photo below)<\/em>:<\/strong> Estonia, like other Baltic countries, is a significant timber processing hub with an export oriented focus. However, the local production of raw timber is insufficient to meet the demand. It is necessary to rely on massive imports of wood, either partially in the form of logs to supply local sawmills or in the form of sawn timber from foreign sawmills. Traditionally, Russia and Belarus were the main suppliers to these markets. Although the goods were sometimes a bit heterogeneous, overall, the quality-price ratio was satisfactory, enabling the Baltic countries to be competitive in export markets. Nowadays, the Baltic countries have to import raw wood from Scandinavia, subsequently putting them in competition with the same Scandinavian producers on more elaborate products.<\/p>\n

Baltic companies face additional logistics costs compared to Scandinavian companies, which definitely affect their competitiveness and the high inflation in the Baltic countries exacerbates the situation.<\/p>\n

GWMI:<\/strong>\u00a0What was the impact of the war in Ukraine? Supply difficulties, ongoing inflation, rising costs for your company and the industry in general?<\/em><\/p>\n

\"\"<\/a>Pierre Guidon:\u00a0<\/strong>Baltic companies that work on low value-added timber products will be durably impacted by competition from Scandinavia. The production model of these products in the Baltic countries no longer makes economic sense. Only companies with high productivity and sophisticated products will be able to survive. Unfortunately, it is likely that many companies will not survive this paradigm shift.<\/p>\n

GWMI:<\/strong>\u00a0How would you describe the recent price evolution for wood products and what are your expectations for this year? Wood industry trends, price evolutions?<\/em><\/p>\n

Pierre Guidon:\u00a0<\/strong>Over the past three years, the price of wood has undergone very chaotic changes, with two major spikes in the United States in April 2021 and February 2022. Prices more than tripled and significant drops followed these spikes. Currently, in the USA, the price of wood is four times cheaper than it was during the peak in April 2021.<\/p>\n

These price variations have spread to the Scandinavian market with a little less intensity but still significant magnitude. Second transformation companies have had to navigate through this price storm. Some, and I would honestly say most, have taken advantage of it, while others, less cautious, have been penalized.<\/p>\n

The sharp rise in prices in 2022 led to a very significant speculative stockpiling. When these stocks started to decline from May 2022, there was a deflation of the speculative bubble that strongly impacted demand. Currently, this overstocking is being absorbed, but demand is now impacted by a significant rise in interest rates that will heavily weigh on the building market.<\/p>\n

Despite this gloomy situation after very low prices at the end of 2022, the trend is slightly bullish and should continue. It is no longer demand that will drive prices up but the reduction of supply.<\/p>\n

Sawmills, on the whole, have made a lot of money and have no cash constraints. Forest owners who do not think short-term have no interest in selling logs at low prices, knowing that these prices will inevitably rise in the medium term.<\/p>\n

The medium-term trend, 3 to 10 years, is for a significant price increase for a raw material that is currently very cheap but will be in high demand in the medium term. The short-term price increase will be limited because if prices rise more than 30-40%, the Russians will return to the international market. Currently, they cannot do so because logistics cost supplements due to sanctions do not allow them to be competitive in markets not subject to the embargo. A price increase would change the scenario. It is also necessary to take into account the very low American demand, which also weighs on the global market.<\/p>\n

About TEEWOOD<\/strong><\/p>\n

TEEWOOD is an Estonian subsidiary of the French company ADIBOIS. These two companies, which have very good financial ratios (including no debt), have common interests with an Estonian entrepreneur in two subsidiaries in Estonia, TEAMWOOD and ROOTS TIMBER. Both of them have roughly the same activity. Given the economic situation and the lower productivity of the TEAMWOOD factory, we have decided to stop production at Sonda and develop the ROOTS company by investing significantly to bring productivity and added value. As the holding companies have excess cash, all investments will be self-financed. The turnover of TEEWOOD, which was \u20ac20 million in 2021 and 2022, will strongly decrease (\u20ac6\/8 million) and the result, although still largely positive, will be affected by the economic situation (2 to 3% result compared to 10 and 5%). ROOTS, on the other hand, will significantly increase its turnover (+50%), i.e., 70\/75% in volume, and its profitability will strongly appreciate. It is regrettable that the closure of a factory, aimed at consolidating production and bringing productivity gains, is considered by rumors as a bankruptcy. The group has a very abundant cash flow and a significant capitalization (financial information is available). All financial ratios are exceptional. The TEAMWOOD company will be absorbed by the TEEWOOD holding. The cost of restructuring is provisioned in the TEEWOOD 2022 balance sheet, which remains very profitable.<\/em><\/p>","protected":false},"excerpt":{"rendered":"

TIN has interviewed Pierre Guidon , President of the company SAS ADIBOIS, about the current state of the Estonian wood industry, the consequences of the war in Ukraine, inflation and rising costs and expectations for 2023.\u00a0 GWMI:\u00a0How would you describe … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":85002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-85000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"\nCurrent trends and outlook for the Estonian wood industry - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/gwmi-interview-current-trends-and-outlook-for-the-estonian-wood-industry\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Current trends and outlook for the Estonian wood industry - 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