Dekel Agri-Vision Plc (LON:DKL), the West African agribusiness company focused on building a portfolio of sustainable and diversified projects, has announced its audited results for the year ended 31 December 2023. The Accounts will be made available to download later today from the Company’s website or mailed to individual shareholders who have elected to receive a physical copy. www.dekelagrivision.com.
Financial Highlights
Palm Oil Operation
· 22% increase in revenues to €37.1m (2022: €30.5m) driven by a 49.5% increase in Crude Palm Oil sales volumes more than offsetting a 15.2% decrease in CPO prices – includes sale of CPO, Palm Kernel Oil (‘PKO’), Palm Kernel Cake and Nursery Plants.
· Gross margin decreased 19.5% primarily due to lower CPO prices and extraction rates.
· 4.2% increase in EBITDA to €4.8m (2022: €4.6m) due to prudent cost control during an inflationary environment.