On Wednesday, 21 May 2025, UIE Plc. announced its financial results for the first three months of 2025.
Business Reporting Highlights from Q1 2025:
UIE achieved a net result of USD 29.1 million in the first quarter of 2025, driven by strong financial and operational performance from UP and a positive fair value adjustment of the investment in Schörling.
UP:
UP reported a record-high first-quarter net profit of MYR 164.5 million due to higher average selling prices and increased production of CPO and PK.
In local currency, UP's result increased by 23%. However, when measured in USD, the increase was 31% due to a stronger average exchange rate of the MYR against the USD in the first quarter of 2025. UIE's share of UP's result accordingly increased by 31% to USD 17.8 million in the first quarter of 2025.
Schörling:
At the end of the first quarter of 2025, the fair value of UIE's investment in Schörling amounted to USD 220.4 million - an increase of USD 12.3 million, or 6%, since year-end 2024.
The share price development of Schörling's listed investments, ranging from a 15% decline to a 4% increase, resulted in a net decrease of 3% in Schörling's net asset value when measured in SEK. However, the appreciation of the SEK against the USD led to an overall positive fair value adjustment of 6% when measured in USD.
Greenbridge:
The fair value of UIE's investment in Greenbridge amounted to USD 60.9 million at the end of the first quarter of 2025, reflecting a decrease of USD 0.5 million, or 1%, since year-end 2024.
Although the portfolio companies within Greenbridge continued to grow, the fair value decline was primarily driven by a slight reduction in valuation multiples. This adjustment aligns with trends observed in peer groups and developments in equity markets in general.
For further information, please download the full First Quarter Report 2025 or visit UIE's website.
