DJ R.E.A. Holdings plc: Half yearly results
R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc: Half yearly results
17-Sep-2025 / 07:00 GMT/BST
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R.E.A. Holdings plc ("REA" or the "company")
REA today publishes the group's half yearly report for the six months to 30 June 2025. Please click on the link below
to view.
The 2025 half yearly report will also be available shortly at www.rea.co.uk/investors/financial-reports.
HIGHLIGHTS
Strategic
-- Maturity profile of group debt improved
-- Sale of outlying subsidiary CDM completed in June 2025
Financial
-- Revenue increased by 14 per cent to USD92.4 million (2024: USD80.9 million) benefitting from continuing firm prices for
both CPO and CPKO
-- Average selling prices (including premia for certified oil but net of export duty and levy) for CPO some 13 per
cent above 2024 at USD856 per tonne (2024: USD755 per tonne) and for CPKO some 96 per cent above 2024 at USD1,657 per
tonne (2024: USD847 per tonne)
-- EBITDA for the period of USD33.4 million (2024: USD21.6 million), a 55 per cent increase
-- Profit before tax of USD11.6 million (2024: USD8.1 million) before USD5.7 million loss on disposal of CDM notwithstanding
USD8.9 million adverse swing in exchange movements
-- Group net indebtedness at USD159.1 million (31 December 2024: USD159.3 million) after temporary increase in working
capital of USD15.0 million
-- Indonesian bank loans repackaged in March 2025
-- GBP21.4 million nominal of sterling notes redeemed at 104 per cent on 31 August 2025
-- In September 2025, repayment date of at least USD17.6 million nominal of dollar notes postponed to 31 December 2028
Agricultural operations
-- FFB production for the continuing group (excluding CDM) of 425,061 tonnes (2024: 399,907 tonnes) despite reduced
hectarage due to the replanting programme and exceptionally heavy rainfall in the early months
-- Extraction rates maintained above 22 per cent
-- Replanting and extension planting on target
Stone and sand operations
-- Production and sales of ATP stone now accelerating
-- ATP sale contracts signed with three substantial purchasers of stone
-- Sand washing plant being enhanced with scale production projected in 2026
-- Both ATP and MCU now under direct control of the group
Sustainability and climate
-- 100 per cent of the group's own plantations are now RSPO certified
-- Projects to promote sustainable development and climate action, including smallholders, continuing apace
Outlook
-- Firm CPO prices projected for the immediate future
-- Group FFB production expected to increase from 2026 as immature areas start to substitute for mature areas taken
out of production for replanting with additional FFB expected from Enggang areas now managed by the group
-- Cash flows to progressively reap the benefits of capital investments in replanting, new planting and scaling up of
the stone and sand operations
-- Group's financial position continuing to strengthen with an increasingly encouraging outlook
CONSOLIDATED INCOME STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2025
30 June 30 June 31 December
2025 2024 2024
USD'000 USD'000 USD'000
Revenue 92,410 80,945 187,943
Net gain / (loss) arising from changes in fair value of biological 478 (169) 9
assets
Cost of sales (63,012) (63,580) (136,495)
Gross profit 29,876 17,196 51,457
Distribution costs (507) (576) (1,281)
Administrative expenses (10,151) (7,993) (15,208)
Operating profit 19,218 8,627 34,968
Interest income 701 1,167 3,369
Reversal of provision - - 6,622
(Losses) / gains on disposal of subsidiaries and similar charges (5,723) - 3,051
Other (losses) / gains (2,428) 6,499 7,317
Finance costs (5,911) (8,233) (16,430)
Profit before tax 5,857 8,060 38,897
Tax (8,444) (4,520) (8,434)
(Loss) / profit for the period (2,587) 3,540 30,463
Attributable to:
Equity shareholders (2,425) 1,530 26,447
Non-controlling interests (162) 2,010 4,016
(2,587) 3,540 30,463
(Loss) / profit per 25p ordinary share (US cents)
Basic (15.6) (5.9) 41.6
Diluted (15.6) (5.9) 41.6
All operations in all periods are continuing.
CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2025
30 June 30 June 31 December
2025 2024 2024
USD'000 USD'000 USD'000
Non-current assets
Goodwill 11,144 11,144 11,144
Intangible assets 2,331 1,401 2,684
Property, plant and equipment 372,280 310,198 386,997
Land 54,295 51,166 58,098
Financial assets 24,902 77,578 26,735
Deferred tax assets 16,364 14,126 21,278
Total non-current assets 481,316 465,613 506,936
Current assets
Inventories 25,403 20,956 18,393
Biological assets 3,816 3,160 3,338
Trade and other receivables 39,996 34,885 31,312
Current tax asset 1,243 1,058 228
Cash and cash equivalents 55,208 15,942 38,837
Total current assets 125,666 76,001 92,108
Total assets 606,982 541,614 599,044
Current liabilities
Trade and other payables (33,552) (30,032) (44,715)
Bank loans (24,068) (23,145) (20,012)
Sterling notes (30,429) - (28,167)
Dollar notes (26,829) - -
Other loans and payables (8,649) (6,928) (2,707)
Total current liabilities (123,527) (60,105) (95,601)
Non-current liabilities
Trade and other payables - (4,252) -
Bank loans (132,944) (81,330) (114,417)
Sterling notes - (40,316) -
Dollar notes - (26,658) (26,746)
Deferred tax liabilities (50,923) (34,654) (47,404)
Other loans and payables (11,129) (21,373) (19,897)
Total non-current liabilities (194,996) (208,583) (208,464)
Total liabilities (318,523) (268,688) (304,065)
Net assets 288,459 272,926 294,979
Equity
Share capital 133,590 133,590 133,590
Share premium account 47,374 47,374 47,374
Translation reserve (25,824) (24,416) (26,332)
Retained earnings 62,960 47,836 69,826
218,100 204,384 224,458
Non-controlling interests 70,359 68,542 70,521
Total equity 288,459 272,926 294,979
CONSOLIDATED CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2025
30 June 30 June 31 December
2025 2024 2024
USD'000 USD'000 USD'000
Net cash from / (used in) operating activities 5,770 (4,712) 31,751
Investing activities
Interest received 701 1,167 1,069
Proceeds on disposal of PPE - 13 4,179
Purchases of intangible assets and PPE (16,040) (9,773) (34,621)
Expenditure on land (664) (684) (4,530)
Net investment stone and coal interests - (4,227) (3,610)
Net investment sand interest (3,070) - (4,413)
Cash received from non-current receivables - 1,298 1,258
Cash acquired with new subsidiary - - 259
Cash divested on disposal of group company (372) - -
Cash reclassified from asset held for sale - 9 9
Net proceeds on disposal of group company 8,365 - -
Net cash used in investing activities (11,080) (12,197) (40,400)
Financing activities
Preference dividends paid (4,414) (14,510) (18,576)
Repayment of bank borrowings (9,804) (7,540) (36,862)
New bank borrowings drawn 47,570 6,494 64,342
Purchase of sterling notes for cancellation (381) - (11,606)
Repayment of borrowings from non-controlling shareholder (8,750) (11,747) (12,234)
New equity from non-controlling interests - 50,000 53,580
Cost of non-controlling interest transaction - (1,078) (1,078)
Purchase of non-controlling interest - (2,726) (2,726)
Repayment of lease liabilities (1,500) (1,271) (2,724)
Net cash from financing activities 22,721 17,622 32,116
Cash and cash equivalents
Net increase in cash and cash equivalents 17,411 713 23,467
Cash and cash equivalents at beginning of period 38,837 14,195 14,195
Effect of exchange rate changes (1,040) 1,034 1,175
Cash and cash equivalents at end of period 55,208 15,942 38,837
Enquiries:
R.E.A Holdings plc
Tel: +44 (0)20 7436 7877
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File: REA Half yearly report 2025 -----------------------------------------------------------------------------------------------------------------------
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: GB0002349065 Category Code: IR TIDM: RE. LEI Code: 213800YXL94R94RYG150 Sequence No.: 401996 EQS News ID: 2198392 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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