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UIE's Annual Report 2020

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On Monday 1 March 2021, UIE Plc. ("UIE") announced its Annual Report 2020.

UIE’s net result was USD 114.1 million in 2020 compared to USD 67.6 million in 2019, reflecting a strong operating performance and record-high result from UP as well as a significant fair value increase of the Schörling investment.

Business Reporting Highlights 2020:

UP

  • UIE’s share of UP’s result amounted to USD 46.2 million; an increase of 41% due to higher production as well as higher selling prices of CPO and PK

Schörling

  • The fair value of UIE’s investment in Schörling increased by USD 61.6 million or 39% and was USD 221.1 million at year-end 2020

  • The fair value increase was primarily due to a 43% share price increase in Hexagon, which is Schörling's largest investment, as well as a strengthening of the SEK

Greenbridge

  • The fair value of UIE’s investment in Greenbridge increased by USD 1.8 million or 9%

  • With an additional investment of USD 2.7 million, the investment in Greenbridge amounted to USD 24.1 million at year-end 2020

Other

  • Other items produced a gain of USD 5.7 million, primarily representing results of free reserves of approximately USD 29 million invested in a diversified and liquid portfolio of equities and bonds

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