R.E.A. Holdings plc: Half yearly results

DJ R.E.A. Holdings plc: Half yearly results

R.E.A. Holdings plc (RE.) 
R.E.A. Holdings plc: Half yearly results 
19-Sep-2024 / 07:00 GMT/BST 
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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 USD53.6 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 USD80.9 million (2023: USD73.6 million) primarily reflecting increased 
  sales volumes 
   -- Average selling prices (net of export duty and levy) in line with prior year with CPO at USD755 per tonne 
  (2023: USD746) and CPKO at USD847 per tonne (2023: USD875 per tonne); current local prices comfortably above the average 
  prices for the first six months of 2024 
   -- EBITDA for the period of USD21.6 million (2023: USD15.7 million), a 40 per cent increase 
   -- Profit before tax of USD8.1 million (2023: loss before tax of USD15.2 million) due to higher revenues and 
  positive swing in exchange differences 
   -- Group net indebtedness reduced to USD167.9 million from USD178.2 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 
 
Agricultural operations 
   -- FFB production of 326,370 tonnes (2023: 346,216) reflecting reduced hectarage due to the replanting 
  programme 
   -- Improved extraction rates with further improvements post period end 
   -- Replanting is proceeding in line with the previously announced programme for 2024 of 1,300 hectares 
 
   -- 750 hectares of extension planting to be completed by year end with the balance of 250 hectares carried 
  over to 2025 
 
Stone, sand and coal interests 
   -- Sales at ATP's stone concession commenced 
   -- Arrangements for production of silica sand being progressed 
   -- Coal operations inactive 
   -- Implementing changes to structure of group's interests in stone, sand and coal with application for 
  necessary approvals to acquire 95 per cent ownership of the stone interest 
 
Environmental, social and governance 
   -- Developing projects with smallholders to encourage and improve the sustainable component of the group's 
  supply chain and promote sustainable palm oil production 
 
Outlook 
   -- Current firming in CPO prices likely to be sustained and mitigate the effect of lower crops in the second 
  half of 2024 
   -- Encouraging outlook based on increased sustainability premia, further improvements to productivity and 
  replanting areas starting to contribute crop 
   -- Stone quarrying coming to fruition 
 
Enquiries: 
R.E.A. Holdings plc 
Tel: [phone] 
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Attachment 
File: REA Half yearly report 2024 
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Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse 
Regulation (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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ISIN:     GB0002349065 
Category Code: IR 
TIDM:     RE. 
LEI Code:   213800YXL94R94RYG150 
Sequence No.: 347684 
EQS News ID:  1990923 
 
End of Announcement EQS News Service 
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September 19, 2024 02:00 ET (06:00 GMT)