Trading Statement
FFB production up 8%, CPO production up 14% and ex-mill prices up 17% in first five months of 2025.
- Own FFB production 433,500 '000 mt (prior 403,200 '000 mt)
- External FFB purchased 492,000 '000 mt (prior 367,700 '000 mt)
- CPO production 176,300 '000 mt (prior 154,400 '000 mt)
- Average ex-mill price $878/mt (prior $750/mt)
- CPO ex-Rotterdam price (5-months average) $1,188/mt (prior $1,014/mt)
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The 40th Annual General Meeting of Anglo-Eastern Plantations Plc will be held at the offices of UHY Hacker Young LLP, 6th floor Quadrant House, 4 Thomas More Square, London E1W 1YW at 11 am, 23 June 2025.
Operational and financial performance
The Board is pleased to report the following Group performance of the Company from continuing operations for the first 5 months ended 31 May 2025.
| Unit | 5-months 2025 | 5-months 2024 | Changes | |
|---|---|---|---|---|
| Own FFB production | ('000 mt) | 433,500 | 403,200 | +8% |
| External FFB purchased | ('000 mt) | 492,000 | 367,700 | +34% |
| CPO production | ('000 mt) | 176,300 | 154,400 | +14% |
| Average ex-mill price | ( ' $/mt) | 878 | 750 | +17% |
The Group maintains its full-year FFB production growth target of approximately 10% above last year's output, mainly driven by contributions from newly matured areas and improved yields.
The increase in external FFB was driven by stronger output across all regions, especially in Bengkulu, partly offset by a 24% decline from Kalimantan following a key supplier's decision to commence its own milling operations.
The growth in CPO production was driven by higher volumes of our own FFB production and external FFB purchased.
For 5-months ended 31 May 2025, the average CPO ex-Rotterdam price stood at $1,188/mt, up 17% from $1,014/mt in the same period of 2024. Meanwhile, the average ex-mill price also rose by 17%.
Development
In the first five months of 2025, the Group undertook new planting across 48 hectares and replanting activities over 517 hectares, in line with our objective to replant approximately 10,000 hectares over the next five years.
Earthwork for the 8th mill at the KAP Estate in Kalimantan commenced in January 2025 and is expected to be completed by October 2025. As of May 2025, approximately 38% of the earthwork for the mill area has been completed. The new KAP mill is scheduled for commissioning in December 2026.
Outlook
As of 3 June 2025, the CPO ex-Rotterdam price stood at $1,095/mt, down 20% from $1,365/mt at the start of the year. Despite the recent decline in CPO prices, the short-term demand outlook remains encouraging. India's recent reduction of import duties on crude palm, soy, and sunflower oil from 20% to 10% is expected to drive higher import volumes. In parallel, Indonesia's nationwide B40 biodiesel mandate, in effect since January 2025, continues to support domestic CPO absorption.
We remain confident in the long-term demand fundamentals for CPO and expect satisfactory financial performance for the remaining months of 2025.
For further enquiry, contact:
| Anglo-Eastern Plantations Plc | +44 (0) 20 7216 4621 |
| Marcus Chan Jau Chwen, Executive Director (Corporate Affairs) | |
| Kevin Wong Tack Wee, Group Chief Executive Officer | |
| Panmure Liberum | +44 (0) 20 3100 2000 |
Amrit Mahbubani / Freddie Wooding
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.