Interim statement of the SIPEF group per 31 March 2024
Positive start to 2025 for SIPEF, with a balanced outlook for the year
- In the first quarter of 2025, total palm oil production increased by 17.9% compared to the same period in 2024, reaching 94 024 tonnes, with oil extraction rates improving by 9.2% in Papua New Guinea and 1.7% in Indonesia.
- Crude Palm Oil selling prices averaged USD 994/tonne on the MDEX, up USD 157/tonne from Q1 2024.
- Banana production increased by 4.4% compared to last year, with improving yields at historic sites offsetting some of the extreme weather events at some locations.
- SIPEF maintains its guidance for full-year CPO production around 430 000 tonnes and a balanced outlook.
- Group's first-quarter performance provides a supportive basis for 2025, assuming continued stable pricing and operational progress. The Group is expecting that the recurrent result for 2025 will exceed the level recorded in 2024.
- Cash flows are projected to fully cover the Group’s investment programme and working capital needs, including dividend payments.
- SIPEF achieves strong CDP Forest and Climate Scores under CDP New Reporting Format.