Kencana Agri ltd

KEBA

Equity

ISIN SG1CE4000000 / Valor 30273828

Deutsche Boerse AG (2024-11-22)

EUR 0.052+0.97%

Kencana Agri ltd
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About company

Kencana Agri Ltd is a Singapore-listed plantation company primarily focused on cultivating oil palms and processing Fresh Fruit Bunches into various palm oil products. With plantations located in Indonesia, the company has expanded its planted area to approximately 68,152 hectares, including plasma, since its establishment in 1996. Kencana operates six palm oil mills and two kernel crushing plants, with plans to complete the construction of a seventh palm oil mill. The company is dedicated to growing its plantation business sustainably and responsibly.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Decline

Kencana Agri Ltd's revenue for the first half of 2024 decreased by 12% compared to the same period in 2023. This decline was primarily due to lower selling prices of Crude Palm Oil (CPO) and Palm Kernel (PK). The average selling price of CPO in 1H 2024 was US$706/MT, down from US$798/MT in 1H 2023.

Cost of Sales

The cost of sales for Kencana Agri Ltd decreased by 22% from US$51.9 million in 1H 2023 to US$40.2 million in 1H 2024. This reduction was mainly due to more moderate upkeep, manuring, and maintenance activities. Consequently, the gross profit margin increased from 16% to 26%.

Net Profit

For the six months ended 30 June 2024, Kencana Agri Ltd recorded a net profit of US$0.6 million, a 70% decrease from US$1.9 million in 1H 2023. This decline was mainly due to a foreign exchange loss of US$2.1 million, compared to a gain of US$4.5 million in the same period last year.

Financial Position

Kencana Agri Ltd's total current assets increased by US$6.0 million from US$82.4 million as of 31 December 2023 to US$88.5 million as of 30 June 2024. This increase was mainly due to a rise in inventories. Total non-current assets decreased by US$14.4 million, primarily due to forex translation loss and depreciation of mature bearer plants.

Cash Flows

The Group's operating cash flow decreased by US$5.3 million in 1H 2024 compared to 1H 2023. This was mainly due to higher working capital outflow from payment of trade payables and settlement of advances from customers. Net cash outflow from investing activities was US$6.7 million, while net cash flows from financing activities amounted to US$3.8 million.

Summarized from source with an LLMView Source

Key figures

46.5%1Y

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Performance

222%1Y

220%3Y

220%5Y

Volatility