UIE's Annual Report 2020
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:
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
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
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 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