All told, 2020 has been a year of positive change for Green Belt, Ireland’s largest forestry company. It has seen our brand redevelop in line with the advent of our new chief executive. This has also coincided with Green Belt managing costs more efficiently, increasing profitability and delivering improved shareholder value.
Recent filings suggested significant operational losses within Green Belt over the last five years. Included in these were specific and extraordinary items. We now have a very strong foundation to continue to thrive upon.
It has been essential to seek and develop opportunities beyond the traditional model for Green Belt as the Licensing delays in the Forest Service continue to frustrate the industry. We have seen the increase of alternative fee generating activities throughout the business, including management plans, increased harvesting volumes, Woodland Environmental Fund activities, investment initiatives and timber valorising activities, such as Green Belt Biochar.
There is no hiding from the fact that the forestry industry is in crisis currently. This is a challenge we are facing head on and are working with the industry, both independently and with the representative body, FII, to deliver a resolution whereby licences can be issued in a reasonable timeline. The Forest Service has committed to address the ecological and environmental administrative elements of all applications through the employment of numerous ecologists and local inspectors. We look forward to the fruit of their endeavours.
Green Belt has this year elected Imelda Connolly as chief executive. Imelda has helped to address some of the most critical elements within Green Belt, historically affecting cashflow and profitability. As part of this positive renaissance, there has been a renewed energy and focus applied to traditionally ‘non-core’ activities.
Since 1982, driving value and performance for our client base has always been our mission. We are extremely positive and confident that we will continue to deliver the excellence and expertise in establishing and managing forestry and natural environment assets. Beyond this, we will continue to explore the wide variety of potential within the broader forestry and bioeconomy sector.
087 675 3097 [email protected]
Group CEO [email protected]