Kencana Agri (BNE) H2 2025 earnings summary

Executive summary

• FY25 revenue rose 29.2% to US$198.652m and net profit increased 54.4% to US$18.442m; operating cash flow more than doubled to US$58.499m.

• Higher output, improved estate yields and favourable weather supported production growth; the 2026 outlook remained generally constructive amid external uncertainty.

Financial highlights

• Gross profit rose 28.4% to US$55.654m; EBITDA increased 19.1% to US$56.620m.

• Profit before tax rose 9.0% to US$24.776m; lower income tax expenses helped net profit grow 54.4%.

• CPO sales volume increased 17.3% to 203,314 MT; CPO revenue rose 24.5% to US$169.248m and average selling price gained 6.1% to US$832/MT.

• Other sales revenue, including palm kernel and FFB, rose 65.7% to US$29.404m.

Segment performance

• FFB production rose 15.5% to 785,833 MT; nucleus output increased 16.9% to 639,835 MT and plasma output rose 9.8% to 145,998 MT.

• FFB processed increased 17.1% to 898,505 MT; external-party processing rose 26.3% to 118,473 MT.

• CPO production grew 14.6% to 187,295 MT; oil extraction rate declined to 20.8% from 21.3%.

• Palm kernel ASP rose 44.1% to US$708/MT and sales volume grew 18.1% to 39,964 MT; total planted area, including plasma, was 67,885 hectares.