CFO with a Green Thumb – A Portrait of a forest owner

A portrait of CFO and forest owner Henrik Neergaard-Petersen, the 6th generation to take over Ouegaard Hovedgaard. Learn how he manages his estate near Mariagerfjord today.

Hello! Who are you, and what do you do for a living?

Hello, my name is Henrik Neergaard-Petersen, and I am an agricultural economist, educated at the University of Copenhagen. I am self-employed and own approximately 175 hectares of forest and an estate of 425 hectares, which includes both farmland and nature areas.

My story began in 2005 when I initiated a generational change on my family’s estate near Mariagerfjord. I actually took over the first part of the estate just five days before a storm that toppled half the forest.

The generational change was completed in 2017.

What is your background story, and why did you become a forest owner?

My passion for agriculture and forestry has always been a part of me. I initially considered studying forestry, but for some reason, economics caught my focus. So, I spent 15 years as an economist and CFO at Nykredit and Arla Foods.

Although it might not seem like a typical background for a forest owner, I have known since my studies at the Royal Veterinary and Agricultural University (Landbohøjskolen) that I would one day take over my family’s estate, Ouegaard near Mariagerfjord:

Ouegaard originally belonged to the Viborg Diocese but was acquired by my family in 1824. Today, it is called Ouegaard Hovedgaard, and my wife and I are the 6th generation to manage it. Next year, we will celebrate 200 years as the owning family.

Though my attention was initially on economics, my interest in agriculture and forestry has always been part of me. After high school, I was an apprentice at Vallø Stift, which includes both extensive agriculture and forestry.

Now that we have taken over the farm and live on the estate, I have gained significantly more insight into the forest – and my interest has only grown since then.

The forest is neither a hobby nor a full-time job but something in between. It is incredibly exciting and challenging to be a forest owner, and I enjoy (nearly) every moment of it.

Take us through the process of becoming a forest owner and the considerations involved

My path to becoming a forest owner has been somewhat different from a typical forest transaction due to family circumstances. Essentially, it was a regular property transaction but with the unique element of a generational change.

I never actually planned to become a forest owner. But, that said, the idea of inheriting the forest has always been present as part of taking over the family business, along with the opportunities and responsibilities it entails.

Now that we live next to the forest and use it daily, I have become more aware of what it means to own and manage a forest and what goals I have for it.

What is your purpose in being a forest owner?

Our purpose with the forest is twofold. For the company, the forest constitutes a significant part of the total assets and contributes an annual financial return. Additionally, the forest supplies wood chips for the estate's biomass heating system, making us self-sufficient in energy.

Regarding the sale of timber, I have established a partnership with a local sawmill and carpentry shop, which we call Danish Woodlands. This partnership has given the forest a more central role in the business. It is incredibly satisfying to follow my own timber from the forest to a finished product, such as a piece of furniture.

The estate also contains many natural assets, such as grasslands, marshes, and coastal meadows. These natural assets make the forest a complete and balanced estate in terms of biodiversity. In fact, approximately 25% of the estate’s area is protected nature, and when the conservation forest areas are included, protected land accounts for about 50% of the total area.

Thus, managing biodiversity is a central task on our estate, and the forest plays a crucial role in this regard.

Besides the business aspects, we as a family enjoy the forest in many ways – including running and walking as well as hunting. As a family business, we find great satisfaction in knowing that what we plant and nurture today can be enjoyed by future generations. 

It gives deep meaning and purpose to our work with the forest.

How do you handle the daily operations?

In the beginning, I had a forest owner who managed my forest regularly, but over the years, I have become more and more involved in the daily operations.

Now, I collaborate with forest owner Morten Kappel Jensen from Madelinelund, who helps with specific tasks and projects. He is from the local area, making it easy for him and various contractors to stop by.

We also have a full-time employee on the estate who assists with various tasks in the forest – such as transporting logs with our forest trailer and manual logging.

After the storm in 2005 that knocked down a large part of the forest, I have focused heavily on maintaining the young plantations. This involves selecting future trees and ongoing thinning.

Otherwise, my focus is on selecting individual trees, especially beech, oak, and maple, where the logs are sent to the local sawmill.

I am also a member of the Danish Forest Association, which provides me with a valuable network of other forest owners for ongoing sparring and help with legislative issues. Recently, they helped me with a consultation response on new plans for forests in Natura 2000 areas.

Additionally, I use Forsler.com daily to keep track of the forest’s age, tree species, timber volume, and natural assets. It is an invaluable tool for planning and prioritising tasks.

All communication with my forest manager and contractors is done through Forsler.

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Where and how do you find inspiration for forest management?

I primarily find inspiration for forest management through my network of experienced forest owners and my forest manager.

Additionally, I stay updated by reading SKOVEN, the Danish Forest Association’s magazine, and following relevant updates on LinkedIn, where associations, agencies, companies, and professionals share important topics and news.

What has been your biggest challenge as a forest owner?

My biggest challenge has been balancing the many purposes of forest management while keeping track of documentation and profitability.

As I do not have a formal forestry education, I have spent much time learning from forest managers and experienced forest owners.

That said, it is precisely the complexity of being a forest owner that makes it so exciting. It piques my curiosity and drives me to constantly seek new knowledge and learn more.

What are your key learnings since becoming a forest owner?

It has been important to establish a close collaboration with my forest manager. Initially, I was not very involved in the decisions, which tended to have a more short-term focus.

Therefore, it has been crucial for me to become much more involved in the operations. Taking a more active role has meant that we think more long-term and make more informed decisions.

Additionally, at the beginning, I had an old-fashioned forest map hanging in the office – but one of my first decisions was to digitise and update the maps with Forsler.com.

This has been an excellent decision – it has not only improved my understanding of the forest but also enabled me to plan and prioritise tasks much more efficiently.

The digitisation has also saved me significant time in communication with my forest manager and has been invaluable for handling tasks like CO2 calculation, growth projection, and planning of biodiversity areas.

What is the best part about being a forest owner?

The best part about being a forest owner can probably be summarised quite briefly: Managing biodiversity in a cultivated forest is both incredibly exciting and meaningful.

The more I involve myself, the more I learn, and the more satisfying and meaningful the work becomes.

On a personal level, it is also extremely meaningful and satisfying to manage and nurture something that I can hopefully pass on to future generations.

How are things going today as a forest owner, and what are your future plans?

Today, things are going well as a forest owner – the forest is profitable, and we have improved our future earnings potential. I have also managed the natural values of the forest, allowing me to focus on biodiversity where it makes the most sense.

Right now, I am considering whether we should certify the forest. Such certification can be beneficial in many ways, but it also requires an investment, especially since my timber sales are limited.

I also plan to formulate a concrete forest strategy when time permits. I now have all the necessary prerequisites, so it is mostly about getting it done.

Additionally, I would like to buy more forest at some point, as I find it an exciting and valuable investment.

What digital tools do you use as a forest owner for forest management?

As mentioned earlier, I use Forsler.com, which is actually my primary tool. It meets all my needs for documentation, operations, and planning.

It is both easily accessible and versatile, with features for projections, automatic assessment, and task management. The system is also continuously updated with new features, which suits me well as my usage has increased.

I actually use Forsler for the entire estate, not just for the forest, but also for nature management projects like fencing. Additionally, it is a useful resource for visualising various map layers, including cadastral maps, protected nature, historical sites, terrain maps, and High Nature Value (HNV) scores.

What are your best tips for others who want to be or have just started as forest owners?

My first thought is that it is a really good idea to define your purpose with the forest from the start. This can make many decisions easier, and you will naturally think more long-term based on your specific purpose.

Secondly, I would say that it is crucial to have an up-to-date and accessible forest map. This can be done either by yourself or with the help of a skilled forest manager.

When choosing a forest manager, make sure they have the right expertise to support your specific purposes with the forest. Forest managers have different specialities, so find one that matches your needs.

Once you get started, remember to enjoy all the fantastic experiences the forest has to offer.

You are always welcome to connect with me on LinkedIn if you like.

Otherwise, see you in the forest 👋