United Palm Oil Industry Public Company (UPOIC) Q4 2024 earnings summary

Executive summary

• Consolidated revenue for 2024 was Baht 1,722 million, up from Baht 1,481 million year-over-year, with net profit at Baht 163 million, down from Baht 204 million.

• Dividend of Baht 0.30 per share (Baht 97 million) was paid for 2023; a further Baht 0.33 per share (Baht 107 million) proposed for 2024.

• The audit opinion was unqualified, with key audit matters on related party revenue and biological asset valuation.

Financial highlights

• Revenue increased 16% year-over-year; cost of sales rose to Baht 1,462 million from Baht 1,237 million.

• Operating profit was Baht 192 million, up from Baht 178 million; EPS was Baht 0.50, down from Baht 0.63.

• Cash and cash equivalents at year-end were Baht 127 million, up from Baht 119 million.

• Total assets stood at Baht 1,775 million; total equity at Baht 1,651 million.

• Net cash from operating activities was Baht 205 million; net cash used in financing was Baht 228 million.

Outlook and guidance

• Management expects no significant impact from new financial reporting standards effective 2025.

• Capital commitments for 2025 total Baht 20.9 million for machinery and equipment.