Univanich Palm Oil Public Company (UVAN) Q2 2024 earnings summary

Executive summary

• Engaged in oil palm plantations, palm fruit processing, seed business, and a biogas power plant project.

• Overseas revenue from Philippine entities reached Baht 612 million, up from Baht 508 million year-over-year.

Segment performance

• Main segment is oil palm plantations and related processing; biogas project contributed only 1.01% of sales and 0.55% of assets.

Financial highlights

• Trade receivables (net) increased to Baht 733.5 million from Baht 615.8 million as of 31 December 2023.

• Inventories (net) rose to Baht 747.0 million from Baht 480.1 million at year-end 2023.

• Biological assets valued at Baht 128.9 million, up from Baht 122.5 million at year-end.

• Property, plant, and equipment (net) increased to Baht 2,654.3 million from Baht 2,482.4 million.

• Trade and other current payables rose to Baht 245.7 million from Baht 128.9 million.

• Long-term loans from financial institutions decreased to Baht 68.8 million from Baht 79.7 million.

• Employee benefit obligations increased to Baht 237.8 million from Baht 183.4 million.

• Income tax expense for the period was Baht 193.1 million, up from Baht 155.8 million year-over-year.