SIPEF SIPEF 57.29 EUR +0.29 (+0.51%) CPO 1350.00 USD -10.00 (-0.74%) SIPEF HQ Menu SIPEF News Half year results of the SIPEF group per 30 June 2021 Half year results of the SIPEF group per 30 June 2021 August 12, 2021 • Total group production of palm oil increased by 18.0%, compared to the first half of last year, due to higher yields in favourable agronomic conditions. • The coronavirus continues to complicate the management of overseas companies, but without any significant impact on 2021 group production. • The SIPEF group will be able to exceed the predicted growth in annual palm oil production by more than 10%, barring exceptional weather effects. • The first semester in the palm oil market can be characterised as a very stable environment, with high prices averaging above USD 1 100 per tonne CIF Rotterdam. • SIPEF is confident of continued strong prices in the second half of 2021. • The recent easing of the system of government levies on palm oil supplies will further improve the profitability of Indonesian palm oil companies. • The recurring* operating result increased from KUSD 4 621 at the end of June 2020 to KUSD 50 129 at the end of June 2021. • The sale of PT Melania (rubber and tea operations), of which 40% was realised in May, has generated a cash flow of USD 19 million to date and a total capital gain, share of the Group, of KUSD 11 003. • The net result, share of the Group, including this capital gain, amounted to KUSD 43 519, compared to KUSD -712 at 30 June 2020. • With 75% of the expected palm oil production sold and the prospect of continued favourable market prices for palm oil, the Group's recurring annual results should be in the range of USD 60 - 70 million. • Net financial debt position will decrease further. • The expansion in South Sumatra is being pursued steadily, with 14 490 hectares already cultivated in Musi Rawas and 5 832 hectares replanted in Dendymarker. • The recently announced project to expand almost 80% of the banana production in Ivory Coast will start in the third quarter. • SIPEF is offering covid-19 vaccinations, free of charge, to all employees and their families in line with its ESG policies. • As an RSPO-compliant producer, SIPEF continues to supply certified, traceable sustainable palm oil to the European and Asian markets. * Recurring results are exclusive of the capital gain of KUSD 11 640 (of which KUSD 11 003 share of the Group) related to the sale of PT Melania. Read the full report here SIPEF - The connection to the world of sustainable tropical agriculture SIPEF HQ SIPEF Kasteel Calesberg Calesbergdreef 5 B-2900 Schoten Belgium Phone +32 3 641 97 00 https://www.sipef.com Indonesia PT Tolan Tiga Indonesia Forum Nine Building 10th Floor Jalan Imam Bonjol No.9 Medan – 20112 North Sumatra Indonesia https://www.sipef.com/sipef-indonesia/ Papua New Guinea Hargy Oil Palms Ltd P.O. Box 21 Bialla West New Britain Province Papua New Guinea https://www.sipef.com/sipef-papua-new-guinea/ Ivory Coast Plantations J. Eglin SA BP 25 Azaguié Côte d'Ivoire http://www.sipef.com/sipef-IvoryCoast/ © SIPEF NV 2021 | Disclaimer | Sitemap