UIE's Annual Report 2021
On Wednesday 2 March 2022, UIE Plc. ("UIE") announced its Annual Report 2021.
UIE's net result was USD 108 million in 2021 compared to USD 114 million in 2020, reflecting another strong operating performance and record-high result from United Plantations Berhad ("UP") as well as a significant fair value uncrease of the Schörling investment, despite the SEK weakened against the USD.
UIE's Business Reporting highlights in 2021:
UP
- UIE's share of UP's result amounted to USD 60.2 million; an increase of 30% compared to 2020 due to higher selling prices and production of CPO and PK
Schörling
- The fair value of UIE's investment in Schörling increased by USD 42.7 million or 19%
- The fair value increase was primarily due to a 34% share price increase in Hexagon, which is Schörling's largest investment
Greenbridge
- The fair value of UIE's investment in Greenbridge increased by USD 7.4 million or 31% compared to 2020
- With an additional investment of USD 3.1 million, the fair value of the investment in Greenbridge amounted to USD 34.5 million at year-end
Other
- Other items generated an income of USD 1.9 million, primarily representing a gain from approximately USD 52 million of free reserves invested in a diversified and liquid portfolio of equities and bonds