UIE's Third Quarter Report 2021
On Tuesday 23 November 2021, UIE Plc. announced its Third Quarter Report 2021.
Highlights from Q3 2021:
- UIE’s net result in the first nine months of 2021 amounted to USD 79.8 million, which is USD 17.2 million higher than the result of USD 62.6 million reported in the first nine months of 2020.
- UIE’s share of UP’s net profit increased by 24% to USD 42.6 million. UP’s plantation division reported slightly higher production volumes for crude palm oil ("CPO") and palm kernel ("PK"), whilst significantly higher selling prices of CPO and PK led to an improved result compared to the first nine months of 2020:
- UP’s production of CPO and PK increased by 3% and 2%, respectively.
- UP’s average selling prices of CPO and PK increased by 22% and 38%, respectively.
- The fair value of UIE's investment in Schörling amounted to USD 252.7 million at the end of the first nine months of 2021 - an increase of USD 31.6 million, or 14%, since year-end 2020. For comparison, the fair value adjustment in the first nine months of 2020 was USD 26.3 million.
- The fair value of UIE’s investment in Greenbridge amounted to USD 34.3 million at the end of the first nine months of 2021 after a fair value increase of USD 7.9 million and an additional investment of USD 2.4 million during the first nine months of 2021.