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Agriculture company Dekel Agri-Vision said it expected first-half results to 'significantly' surpass the prior-year period results following a boost from higher crude palm oil output and prices.
The first-half results were expected to exceed last year's first half revenue of €15.4 million revenues; earnings before interest, taxes, depreciation, and amortisation, or EBITDA, of €1.9 million; and €0.4 million net profits.
The company reported a 12.6% increase in June CPO production to 2,638 tonnes compared with June 2020, taking first-half production to 26,515 tonnes, a 11.0% increase on production compared to H1 2020.
The company sold 4,822 tonnes of CPO in June 2021, a 97.3% increase on June 2020 sales, taking the total for H1 to 24,784 tonnes, up 3.7% increase compared to H1 2020.
There was a 2.3% increase in average realised CPO prices to €915 per tonne in June compared to June 2020, with prices up 35.7% to €817 per tonne in H1 year-on-year.
'The strong palm oil high season, significant advance of the cashew processing plant towards first production and substantial strengthening of our Balance Sheet via the capital injections have put the Company in an excellent position moving forward,' the company said.