TIDMDKL
RNS Number : 4222F
Dekel Agri-Vision PLC
15 July 2021
The following corrects the announcement released at 07:00 on
9(th) July 2021 under RNS No. 6876E in which, under Issue of Equity
paragraph, the number of new shares should be 335,864 (not 333,864
as previously stated), with admission expected on or around 21 July
2021 . All other details remain unchanged and the full corrected
announcement is reproduced below.
Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food
Producers
Dekel Agri-Vision Plc ('Dekel' or the 'Company')
Half Year Production Update
Dekel Agri-Vision Plc (AIM: DKL) , the West African agriculture
company focused on building a portfolio of sustainable and
diversified projects, is pleased to provide its half year
production update for the period ending 30 June 2021 on the
100%-owned Ayenouan palm oil project in Côte d'Ivoire ('Ayenouan'
or the 'Project').
Highlight s
-- 12.6% increase in June CPO production to 2,638 tonnes in June 2021 compared to June 2020
o Brings cumulative CPO production for H1 2021 to 26,515 tonnes,
a 11.0% increase on production compared to H1 2020
-- 4,822 tonnes of CPO sold in June 2021, a 97.3% increase on June 2020 sales
o Brings cumulative CPO sales for H1 2021 to 24,784 tonnes, 3.7%
increase compared to H1 2020
-- 82.3% increase in average realised CPO prices to EUR915 per
tonne in June compared to June 2020
o June monthly CPO sales price of EUR915 per tonne a record
monthly price for the Company
o Brings average realised CPO prices for H1 2021 to EUR817 per
tonne, 35.7% higher than the EUR602 per tonne achieved in H1
2020
-- H1 2021 financial results expected to significantly surpass
H1 2020's EUR15.4m revenues; EUR1.9m EBITDA; and EUR0.4m net
profits
Lincoln Moore, Dekel 's Executive Director , said: "The overall
Company performance in H1 2021 is arguably our strongest since
joining the London AIM Market. The strong palm oil high season,
significant advance of the cashew processing plant towards first
production and substantial strengthening of our Balance Sheet via
the capital injections have put the Company in an excellent
position moving forward. In particular, credit should be given to
the operations team for delivering a strong palm oil high season to
ensure the Company capitalised on the current multi-year high CPO
prices. We look forward to the next 6-12 months with great optimism
for a further step up in the Company operational and financial
growth."
Jun-21 Jun-20 Change H1 2021 H1 2020 Change
FFB processed (tonnes) 11,839 9,616 23.1% 123,684 106,188 16.5%
CPO production (tonnes) 2,638 2,343 12.6% 26,515 23,882 11.0%
CPO Sales (tonnes) 4,822 2,444 97.3% 24,784 23,906 3.7%
Average CPO price
per tonne EUR915 EUR502 82.3% EUR817 EUR602 35.7%
PKO production (tonnes) 195 214 -8.9% 1,554 1,715 -9.4%
PKO Sales (tonnes) Nil 158 n/a 1,223 1,002 22.1%
Average PKO price
per tonne n/a EUR595 n/a EUR792 EUR628 26.1%
PKC production (tonnes) 326 476 -31.5% 2,428 2,683 -9.5%
PKC Sales (tonnes) 228 565 -59.6% 1,707 2,690 -36.5%
Average PKC price
per tonne EUR80 EUR59 35.6% EUR77 EUR60 28.3%
* Numbers subject to half year interim audit including final audit cut-offs
Crude Palm Oil
-- Production: 12.6% increase in CPO produced to 2,638 tonnes in
June 2021 compared to June 2020's 2,343 tonnes
o Brings total CPO produced for H1 2021 to 26,515 tonnes, 11.0%
higher than the 23,882 tonnes of CPO produced in H1 2020
o 11.0% increase in CPO produced in June less than 16.5%
increase in June fresh fruit bunch ('FFB') deliveries due to lower
oil content of the fruit and exceptional comparatives
-- June 2021 CPO extraction rate increased from the previous
month to 22.3%, however, remained lower than the exceptionally high
24.4% in June 2020
-- Sales: 97.3% increase in CPO sales volumes in June reflect
higher monthly CPO production and material quantities of sales
agreed in May which were delivered in June
o Brings total CPO sold in H1 2021 to 24,784 tonnes compared to
23,906 tonnes sold in H1 2020
o CPO stock on hand at end of H1 2021 is over 1,900 tonnes
compared to 215 tonnes in H1 2020 which will be supportive of H2
2021 results
-- Prices: 82.3% increase in average realised CPO prices to
EUR915 per tonne in June 2021, a record monthly price for the
Company (May 2020: EUR502)
o Brings H1 2021 realised prices to EUR817, a 35.7% increase on
H1 2020
o International CPO prices have softened slightly but continue
to trade at multi-year highs of approximately EUR800 per tonne
o The local 4-6 week price lag mechanic in Cote d'Ivoire means
we are currently achieving CPO prices higher than the international
price
Palm Kernel Oil ('PKO')
-- Production: H1 PKO production 9.4% lower than H1 2020
-- Whilst PKO sales for H1 2021 are 22.1% higher than H1 2020 we
continue to take a patient sales strategy approach to capitalise on
rising local PKO price levels - Dekel currently holds over 800
tonnes of stock at the end of H1 2021 which we expect to sell
gradually during H2 2021
-- PKO Prices achieved in H1 2021 26.1% higher than H1 2021
Palm Kernel Cake ('PKC')
-- Similarly to PKO, we are also taking a patient approach to
sales prices to capitalise on rising local PKC price levels
-- Dekel currently holds approximately 850 tonnes of stock at
the end of H1 2021 which we expect to sell gradually in H2 2021
-- Prices: 28.3% increase in average realised PKC prices to
EUR77 per tonne in H1 2021 compared to EUR60 per tonne in H1
2020
Production Updates
The Company will continue issuing CPO production figures on a
monthly basis to provide shareholders with visibility on operations
and trading during the global COVID-19 pandemic.
Issue of Equity
In addition, application has been made to the London Stock
Exchange for the admission of a total of 335,864 ordinary shares of
EUR0.0003367 each ("Ordinary Shares") issued to certain advisers in
settlement of fees for services provided ("Admission"). It is
expected that Admission will become effective on or around 21 July
2021. Following Admission, the Company's issued share capital will
consist of 535,863,569 Ordinary Shares.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
** ENDS **
For further information please visit the Company's website
www.dekelagrivision.com or contact:
Dekel Agri-Vision Plc
Youval Rasin
Shai Kol
Lincoln Moore +44 (0) 207 236 1177
Arden Partners Plc (Nomad and Joint Broker)
Paul Shackleton / Ruari McGirr / Akhil
Shah +44 (0) 207 614 5900
Optiva Securities Limited (Joint Broker)
Christian Dennis
Jeremy King +44 (0) 203 137 1903
Notes:
Dekel Agri-Vision Plc is a multi-project, multi-commodity
agriculture company focused on West Africa. It has a portfolio of
projects in Côte d'Ivoire at various stages of development: a fully
operational palm oil project in Ayenouan where fruit produced by
local smallholders is processed at the Company's 60,000tpa crude
palm oil mill; a cashew processing project in Tiebissou, which is
due to commence production in Q3 2021.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDMZGMNKKNGMZM
(END) Dow Jones Newswires
July 15, 2021 11:23 ET (15:23 GMT)
Dekel Agri-vision (LSE:DKL)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Dekel Agri-vision (LSE:DKL)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
