Latvian Forest Company (LATF) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 reached €313.8k, up from €138.1k year-over-year, mainly from timber sales.

• Operating result improved to -€1,756k from -€2,587k, with net loss after tax at -€1,720k versus -€2,575k last year.

• 32 hectares acquired in Q1, including 17 ha forest, 14 ha agricultural, and 1 ha other land.

• Timber volume at 1,081,705 m³ across 8,279 hectares; 8,000 m³ harvested and sold at €42/m³.

Financial highlights

• Net sales increased 127% year-over-year to €313.8k.

• Operating result (EBIT) at -€1,756k, improved from -€2,587k year-over-year.

• Value change in forest assets was -€1,597k, compared to -€2,406k last year.

• EPS improved to -€0.043 from -€0.064 year-over-year.

• Book value of fixed assets at €41,484k, up from €38,926k.

Outlook and guidance

• Baltic timber and pulpwood markets remained stable in Q1 2026, with cautious optimism for price increases.

• Long-term demand for timber and forest products expected to rise, supported by global trends and carbon credit market development.