Business
Positive Half Year Production Update
Positive Half Year Production Update.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \nRNS Number : 4784D Dekeloil Public Limited 07 July 2016 \n\nDekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers\n07 July 2016\nDekelOil Public Limited ('DekelOil' or the 'Company')\nHalf Year Production Update\n \nDekelOil Public Limited, operator and 85.75% owner of the profitable and vertically integrated Ayenouan palm oil project in Côte d'Ivoire (the 'Project'), is pleased to provide a production update for the half year ended 30 June 2016. \n \nThe Company's extraction mill (the 'Mill') has the capacity to produce 70,000 tonnes of crude palm oil ('CPO') per year, making it one of the largest in West Africa. In the half year to 30 June 2016, production of CPO was up 30.75% to 28,550 tonnes. Furthermore, production of palm kernel oil ('PKO') and palm kernel cake ('PKC') at the Company's new kernel crushing plant, which commenced operations in November 2015, was 1,998 tonnes and 2,360 tonnes respectively for the six month period. \n \nAs a result of the strong operational performance, the Company expects EBITDA for H1 2016 to be materially higher than H1 2015's EBITDA of €2.2m. In addition, the recent strengthening of the Euro against GBP Sterling is expected to have a positive impact on DekelOil's results which are reported in Euros. \n \n\n\n\n\n\n\n\nHY 2016\n\n\nHY 2015\n\n\n% Increase\n\n\n\n\nCPO production (tonnes)\n\n\n28,550\n\n\n21,836\n\n\n30.75\n\n\n\n\nCPO Sales (tonnes)\n\n\n25,225\n\n\n19,184\n\n\n31.49\n\n\n\n\nAverage CPO price per tonne \n\n\n€542\n\n\n€617\n\n\n(12.16)\n\n\n\n\nKernel production (tonnes)\n\n\n4,745\n\n\n3,733\n\n\n27.11\n\n\n\n\nKernel Sales (tonnes)\n\n\nSales discontinued and PKO/PKC commenced\n\n\n3,760\n\n\nn/a\n\n\n\n\nAverage Kernel price per tonne\n\n\nn/a\n\n\n€183\n\n\nn/a\n\n\n\n\nPKO production (tonnes)\n\n\n1,998\n\n\nNil\n\n\nn/a\n\n\n\n\nPKO Sales (tonnes)\n\n\n1,828\n\n\nNil\n\n\nn/a\n\n\n\n\nAverage PKO price per tonne\n\n\n€781\n\n\nNil\n\n\nn/a\n\n\n\n\nPKC production (tonnes)\n\n\n2,360\n\n\nNil\n\n\nn/a\n\n\n\n\nPKC Sales (tonnes)\n\n\n2,615\n\n\nNil\n\n\nn/a\n\n\n\n\nAverage PKC price per tonne\n\n\n€40\n\n\nNil\n\n\nn/a\n\n\n\n\n \n· H1 2016 was characterised by a period where both the CPO sales price and the cost of purchasing Fresh Fruit Bunches (\"FFB\") we...