Wood price surge drives profit growth for Czech state enterprise Lesy ČR in 2022; challenges expected

Last year, Czech the state enterprise Lesy České republiky (LČR) increased its net profit by 83 percent to 5.03 billion crowns (€195.18 million) from 2.74 billion crowns (€106.47 million) in 2021. This was the third highest profit in the company's history. The main reason for the increase in profit was the year-on-year increase in wood prices, up to 70 percent. The result was also positively influenced by the gradual management of the bark beetle calamity in all regions, company representatives said recently at a press conference on the company's economy. The ...