Business
2021 Final Results
2021 Final Results.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \n \n \n \n \n Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers\n \n \n \n \n \n \n Dekel Agri-Vision Plc ('Dekel' or the 'Company')\n \n \n \n \n 2021 Final Results\n \n \n \n \n \n \n Dekel Agri-Vision Plc\n (AIM: DKL)\n , the\n West African\n agribusiness company focused on building a portfolio of sustainable and diversified projects, is pleased to\n announce its audited results for the year ended 31 December 2021 (the 'Accounts'). The Company also gives notice that its Annual General Meeting ('AGM') will be held at Hill Dickinson LLP, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW on 26 July 2022 at 10am BST. The Notice of AGM will be sent to shareholders and the Notice of AGM and Accounts will be made available to download later today from the Company's website www.dekelagrivision.com.\n \n \n \n \n \n \n Financial Highlights\n \n \n \n ·\n Record Revenue and EBITDA delivered from the Ayenouan palm oil plant in Côte d'Ivoire ('Palm Oil Operation') primarily driven by record Crude Palm Oil ('CPO') production and record CPO pricing:\n \n \n o \n 66.2% increase in revenues to €37.4m (2020: €22.5m) - includes sale of CPO, Palm Kernel Oil ('PKO'), Palm Kernel Cake ('PKC') and Nursery Plants\n \n \n o \n Gross margin increased by 70.6% to 17.4% (2020: 10.2%), with post period end margins further improving towards historical levels\n \n \n o \n 333.3% increase in EBITDA to €5.2m (2020: €1.2m)\n \n \n o \n Net profit after tax of €1.0m (2020: €2.2m net loss)\n \n \n ·\n The Company's cashew processing plant at Tiebissou in Côte d'Ivoire (the 'Cashew Operation') recorded a Net Loss of €0.4m in 2021 during its construction phase and entered the commissioning phase in December 2021 with pilot production and sales commencing in early January after 2021 year-end.\n \n \n \n \n \n \n \n \n \n \n Year ended 31 December\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n 2020\n \n \n \n \n \n \n % change\n \n \n \n \n \n \n \n \n Palm Oil Operation\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n €37.4m\n \n \n \n \n €22.5m\n \n \n \n \n 66.2%\n \n \n \n \n \n \n Gross Margin\n \n \n \n \n €6.5m\n \n \n \n \n €2.3m\n \n \n \n \n 182.6%\n \n \n \n \n \n \n Gross Margin %\n \n \n \n \n 17.4%\n ...