Nature Wood Group Limited, one of global leaders in vertically-integrated forestry and FSC business operations, announces its guidance for the fiscal year 2024. The company expects to achieve a significant increase in revenue, reaching $45 million, compared to the recently preannounced revenue of $25.4 million for 2023.
The rebound in sales is primarily driven by new regulations in the European Union, which mandates a higher percentage of wood to be used in building homes and requires the wood to be sustainably sourced. As a company with a strong focus on Forest Stewardship Council (FSC) certified operations, Nature Wood is well-positioned to capitalize on these regulatory changes and meet the growing demand for sustainable wood products.
"We are excited to see the positive impact of the new EU regulations on our business," said Mr. Jianjun Zeng, the chief executive officer of Nature Wood. "Our commitment to sustainable forestry practices and FSC certification has given us a competitive advantage in the market, and we are confident that we can continue to deliver high-quality, eco-friendly products to our customers."
Nature Wood will provide further details on its 2024 guidance as and when appropriate. The company remains dedicated to its mission of providing environmentally responsible wood products while maintaining strong financial performance.
Nature Wood is also expanding its carbon credit projects to other regions of the world, presenting a large market opportunity with high margins while contributing to global sustainability efforts. The Company anticipates to update shareholders in the near future on progress in this exciting area.
Nature Wood Group Limited is a global leading vertically-integrated forestry company that focuses on FSC business operations, timber and wood products industry.