Friday, July 29, 2022

United Plantation Update (2nd QR)

 Revenue/profit before tax (PBT) for 2022

 

Plantation

Refineries

 

Revenue

PBT

Revenue

PBT

1st QR

284,551

169,041

465,538

-91

2nd QR

357,349

200,336

495,309

58

 

CPO (MT) production for UTDPLT

 

2021

2022

Jan

18734

18417

Feb

20178

18684

Mar

22275

23389

Apr

24584

22055

May

22162

23056

June

22716

24428

July

23933

 

Aug

27189

 

Sept

23011

 

Oct

21643

 

Nov

18398

 

Dec

17816

 

PK(MT) production for UTDPLT

 

2021

2022

Jan

3881

3738

Feb

4124

3750

Mar

4494

5169

Apr

4871

4761

May

4355

4665

June

4267

5079

July

4893

 

Aug

5635

 

Sept

4599

 

Oct

4158

 

Nov

3641

 

Dec

3676

 

Seasonality

Based on statistics, the Group’s production of crude palm oil (“CPO”) and palm kernel (“PK”) gradually increases from March, peaking around July to September, and then declines from October to February. This pattern can be affected by severe global weather conditions such as El-Nino and La .

As for first half of 2022, CPO/pk production is comparable with last year.

 

ASP of CPO/CK for UTDPLT

CPO (RM/MT)

 

2021

2022

1st QR

2964

3798

2nd QR

2967

3958

3rd QR

3053

 

4th QR

-

-

 

PK (RM/MT)

 

2021

2022

1st QR

1783

2992

2nd QR

2007

3152

3rd QR

2091

 

4th QR

-

-

Future commodities contract

 

The year-to-date realised loss of RM202.7 million from commodities futures contracts was a result of hedging losses due to timing differences of raw material hedges versus delivery of finished goods. The high hedging loss was because of the significant increase in CPO prices since entering into the earlier BMD commodity futures sales. Upon buying back of the earlier entered BMD commodity futures sales there are immediate losses, however, these hedging losses had been and will continue to be reversed in the coming quarters through significantly higher contributions upon delivery of finished goods based on earlier purchased CPO at lower prices as part of the raw material hedge

Dividen

Will be announced on Feb and Nov of the year.

 

 

CPO production for UTDPLT/SWK PLT/SOP/INNO

UTDPLT

 

CPO (MT)

PK (MT)

Coconut

June 2022

24428

5079

7367893

May 2022

23056

4665

7553892

April 2022

22055

4761

8119101

March 2022

23389

5169

9163232

Feb 2022

18684

3750

7024988

Jan2022

18417

3738

6693120

Dec 2021

17816

3676

6489507

Nov 2021

18398

3641

6538665

Oct 2021

21643

4158

7494265

Sept 2021

23011

4599

7768715

Aug 2021

27189

5635

8164933

July 2021

23933

4893

7846809

June 2021

22716

4267

7158963

May 2021

22162

4355

7174211

Apr 2021

24584

4871

7891933

Mar 2021

22275

4494

7999274

Feb 2021

20178

4124

6912236

Jan 2021

18734

3881

6523989

Dec 2020

18470

3587

6775069

Nov 2020

18056

3483

6384131

Oct 2020

18957

3738

7592624

Sept 2020

22599

4495

6838613

Aug 2020

23435

4762

6957167

July 2020

23986

4807

7172449

June 2020

22669

4371

7292458

Seasonality

Based on statistics, the Group’s production of crude palm oil (“CPO”) and palm kernel (“PK”) gradually increases from March, peaking around July to September, and then declines from October to February. This pattern can be affected by severe global weather conditions such as El-Nino and La Nina.

 

SARAWAK Plantation

 

FFB (MT)

CPO (MT)

PK (MT)

June 2022

29167

9149

1983

May 2022

26110

8452

1880

April 2022

23510

8135

1771

March 2022

22897

9559

2004

Feb 2022

19125

6924

1456

Jan2022

20038

7954

1724

Dec 2021

25217

11863

2681

Nov 2021

29500

12361

2688

Oct 2021

29964

13674

3169

Sept 2021

31739

13338

3118

Aug 2021

31625

13797

3110

July 2021

25563

11794

2509

June 2021

25402

10609

2254

May 2021

26169

13014

2842

Apr 2021

26180

12095

2609

Mar 2021

25634

11196

2352

Feb 2021

20958

9562

2013

Jan 2021

22042

9355

1926

Dec 2020

24326

10389

2038

Nov 2020

27774

11037

2182

Oct 2020

30988

12176

2548

Sept 2020

34322

13473

2890

Aug 2020

35432

14811

3368

July 2020

33542

13501

3093

June 2020

31543

12098

2599

May 2020

29622

11675

2365

 

Seasonality

The Group's performance is affected by the cropping pattern of fresh fruit bunches (“FFB”) which normally reaches its peak in the second half of the year, that will be reflected accordingly in the crude palm oil (“CPO”) and palm kernel (“PK”) production of the Group.

 

SOP

 

FFB (MT)

CPO (MT)

PK (MT)

June 2022

101061

31929

7006

May 2022

91698

30331

6456

Apr 2022

87447

28239

6240

Mar 2022

88033

26938

6211

Feb 2022

76723

23281

5055

Jan 2022

88787

28023

6460

Dec 2021

102278

32763

7350

Nov 2021

108723

34019

7479

Oct 2021

104480

33960

7669

Sept 2021

111572

34229

7777

Aug 2021

109964

33297

7537

July 2021

98679

29782

6210

June 2021

106089

32879

7139

May 2021

105111

33392

7274

April 2021

104553

33011

7088

Mar 2021

103589

31948

6729

Feb 2021

89630

26483

5548

Jan 2021

100642

28491

6168

Dec 2020

101603

30149

6101

Nov 2020

105607

31213

6433

Oct 2020

118734

35144

7449

Sept 2020

134909

38076

8525

Aug 2020

128325

35626

8197

July 2020

123951

33897

7387

June 2020

113606

32889

6941

 

Seasonality

Quite similar to SWKPLT

 

INNO

 

FFB (MT)

June 2022

19727

May 2022

16883

April 2022

16261

March 2022

15988

Feb 2022

16497

Jan2022

20504

Dec 2021

19212

Nov 2021

22430

Oct 2021

24456

Sept 2021

24323

Aug 2021

20936

July 2021

20994

June 2021

22719

May 2021

17565

Apr 2021

17214

Mar 2021

16714

Feb 2021

15018

Jan 2021

15725

Dec 2020

16233

Nov 2020

17868

Oct 2020

22992

Sept 2020

21705

Aug 2020

20322

July 2020

20640

June 2020

20333

 

 

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