Quintis (ASX: QIN)

Quintis (ASX: QIN) Involved in Indian sandalwood plantation, processing and distribution of end products







Product / Service

  • Quintis is involved in all aspects of Indian sandalwood, from plantation and processing, to production and distribution of end products

  • Quintis owns and manages the world’s largest plantation of Indian sandalwood in Northern Australia

  • The planted forest in Australia’s tropical north covers more than 12,000 hectares and contains more than 5.4 million Sandalwood trees

  • The value of sandalwood is the oil bearing heartwood, the inner most layer of the timber

  • Quintis plants around 1,500 hectares of new seedlings each year, which have a 90% survival rate after planting

  • Quintis manages its own seed supply

  • The tree life cycle is as follows:

    • Year 1 - Planting

    • Years 2-14 - Management

    • Years 15-17 - Harvesting

  • Once the sandalwood is harvested, Quintis processes it to produce a variety of end products, including:

    • Oil - used in perfumes, cosmetics, aromatherapy and pharmaceuticals

    • Wood - used in incense, Hindu and Buddist ceremonies and worship, carvings, ayurvedic medicine, chinese medicine and fine furniture

    • Value-added sandalwood products

  • Quintis sells and manages plantation investments for individual and institutional investors

  • Quintis owns around a third of the trees and manages the rest on behalf of plantation investors

  • In recent years, Quintis has started using satellite imagery to monitor plantation performance and help identify trends and shape forestry practices

  • Quintis operates four business units:

    • Plantation Management - promotion and sales of sandalwood lots to investors, establishment and harvesting of sandalwood plantations and end-market research

    • Finance - provides finance to growers to purchase sandalwood lots

    • Sandalwood Products - includes Mt Romance, manufactures sandalwood oil and products

    • Pharmaceutical - includes Santalis and ViroXis, research and development of pharmaceutical and biopharmaceutical products for commercialisation


  • Quintis was originally founded as Tropical Forestry Services (TFS) Corporation, by Frank Wilson (CEO) in 1997

  • In 1999, TFS began its first plantings in the Ord Irrigation Area in North Western Australia

  • TFS listed on the ASX in 2004 and acquired Mt Romance, the world’s largest distiller of sandalwood oil in 2008

  • TFS completed their first commercial harvest in 2014

  • In 2015, TFS acquired ViroXis Corporation and Santalis Pharmaceuticals to gain greater benefits from pharmaceutical product development

  • TFS became Quintis Limited in March 2017


  • Quintis’ customers are varied and range from consumers to pharmaceutical companies and institutional investors


  • The company is headquartered in Perth

  • The company’s operations are predominantly in Northern Australia, with distribution to over 30 countries around the world

To create a sustainable supply of high quality sandalwood products for our global consumers

Profitability Table

Year Revenue ($m) % change EBT ($m) % change
FY 2009 94.9 49.5 49.0 43.9
FY 2010 117 22.8 47.9 (2.2)
FY 2011 111 (4.7) 25.5 (46.8)
FY 2012 127 14.2 36.0 41.2
FY 2013 188 48.0 79.8 122
FY 2014 220 17.4 115 43.7
FY 2015 325 47.5 159 39.0
FY 2016 269 (17.3) 123 (23.0)

Fun Facts

  • Frank Wilson’s (CEO) total remuneration for FY 2016 was $1.2m

  • Adam Gilchrist, ex-Australian cricketer, is the global ambassador for Quintis

  • In India, more than 500 million sandalwood incense sticks are burnt each day during worship



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