From the North East Forest Alliance, NEFA News:
“Forestry Corps have declared a half year normalised earnings loss of $14.9 on their hardwood logging, in part blaming protests, protection of Koala hubs in the GKNP, the new Greater Glider protocols and having to assess the unique and special wildlife values in plantations. The claimed significance of these beggars belief, when their core problem is that their royalties don’t even cover the costs of cutting down the trees and transporting them to the mills.
Timber production and financial results remain below expectations
The ongoing depression in new housing construction was reflected in below average timber sales during the reporting period, particularly for the high quality softwood timber that is predominately used to construct house frames. Expenditure control measures continued to be effective, however financial returns remained well below previous years. Hardwood timber production also continued to be constrained by regulatory changes reducing timber supply in coastal native forests as well as wet weather and protest disruptions. Force majeure notices were issued to customers in northern NSW due to the impacts of changes to regulatory protocols that prevented harvesting in koala hubsYear to date
Total comprehensive income for the six months to 31 December 2024 was $2.0 million. Normalised earnings (Earnings before interest and tax, or EBIT) showed a profit of $0.4 million, which was $0.6 million above the Statement of Corporate Intent (SCI) target of -$0.2 million for the half year. …Hardwood Forests Division
The Hardwood Forests Division posted a normalised earnings loss of ($14.9) million, which was ($9.0) million below target. Land management expenditure was over budget due to costs in delivering new tourism assets including the new icon site Guulabaa – Place of Koala in Cowarra State Forest as well as the upgrade to the recreation area at Coopernook State Forest as part of an enforceable undertaking entered into with the Environment Protection Authority. Timber production was lower than forecast due to disruptions to operations from adverse weather in the north of the state as well as due to protests and stand downs. Additional costs were also associated with the implementation of regulatory changes, including the establishment of new protected areas in Koala Hubs, implementation of new conditions for Greater Gliders and changes to the unique and special wildlife value assessment process in plantations. A milder winter in the west of the state contributed to reduced demand for commercial firewood, further impacting sales revenue.
.
North East Forest Alliance, NEFA News, Media Releases: https://www.nefa.org.au/media_releases
