Dekel Agri-Vision achieves strong full year financial performance

Dekel Agri-Vision Plc (LON:DKL), the West African agribusiness company focused on building a portfolio of sustainable and diversified projects, has announced its unaudited interim results for the six months ended 30 June 2023.

Key Highlights

Palm Oil Operation

· H1 2022 revenue of €20.7m, a 5.1% increase from €19.7m in H1 2022 – includes sales of CPO, Palm Kernel Oil (‘PKO’), Palm Kernel Cake (‘PKC’) and Nursery Plants

· We achieved a 49% increase in H1 2023 CPO production compared to H1 2022, however, the H1 2022 gross margin – €3.5m, EBITDA – €2.3m and net profit after tax €1.2m were below H1 2022 comparisons due to the timing difference of a high volume of sales occurring post H1 2023 due to the late and strong production high season:

o H1 2023 CPO inventory of 4,870 tonnes compared to 650 tonnes at H1 2022

o H1 2023 PKO inventory of 1,080 tonnes compared to 300 tonnes at H2 2022

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