Profit after tax is down from €32.1m in 2010; however the 2011 results include exceptional items of €9.1m compared with €1.4m in 2010.
Operating profit before exceptional items was €41.5m in 2011, down from €46.1m in 2010.
David Gunning, ceo of Coillte, said: "These results demonstrate that we have successfully managed to reposition Coillte as a sustainable export-led business which continues to thrive.
"This export focus is also reflected in our panel products business, which manufactures SmartPly OSB and Medite MDF. In 2011, some 90% of these sales were to export markets. We have seen strong growth in sales into continental Europe while the UK remains our largest market for these products," he said.
