Half yearly results

R.E.A. Holdings plc (RE.) R.E.A. Holdings plc: Half yearly results 19-Sep-2024 / 07:00 GMT/BST R.E.A. Holdings plc (“REA” or the “company”)

REA today publishes the group’s half yearly report for the six months to 30 June 2024. Please click on the link below to view.

The 2024 half yearly report will shortly be available at www.rea.co.uk/investors/financial-reports.

 

Strategic

• Subscription of further shares in REA Kaltim by the DSN group in March 2024 with final consideration determined at $53.6 million, increasing DSN’s investment in the operating sub-group from 15 per cent to 35 per cent
• CDM being retained and good progress made in improving yields and settling plasma arrangements
• On target to comply with the EUDR requirements – processes and control systems now installed in COM to permit sales of segregated certified CPO

 

Financial

• Revenue increased by 10 per cent to $80.9 million (2023: $73.6 million) primarily reflecting increased sales volumes
• Average selling prices (net of export duty and levy) in line with prior year with CPO at $755 per tonne (2023: $746) and CPKO at $847 per tonne (2023: $875 per tonne); current local prices comfortably above the average prices for the first six months of 2024
• EBITDA for the period of $21.6 million (2023: $15.7 million), a 40 per cent increase
• Profit before tax of $8.1 million (2023: loss before tax of $15.2 million) due to higher revenues and positive swing in exchange differences
• Group net indebtedness reduced to $167.9 million from $178.2 million at 31 December 2023
• All outstanding arrears of preference dividend totalling 11.5p per preference share discharged in April 2024 and semi-annual preference dividend duly paid on 30 June 2024