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Talks of completed 60 tonne per hour mill
DekelOil Public Limited, a palm oil development company with interests in Côte d’Ivoire, has announced its interim results for the year ended 30 June 2014.
Highlights:
· DekelOil successfully established as a revenue-generative, EBITDA-positive vertically-integrated CPO producer in the Cote d’Ivoire
· Successful commissioning of a 60 tonne per hour mill, one of the largest in West Africa, in March 2014 – operational for four months of the period
· Revenues of €4.5m and EBITDA of €0.3m reported for the 6 month period
· Implementation of a solid logistics strategy which facilitates delivery of smallholder feedstock to the Mill – logistics hubs will be established on an on-going basis
· Production for the first half of operations to June 2014 stood at 7,932 tonnes of CPO and 1,311 tonnes of kernels
· Two further off-take agreements with domestic customers – the Company now has three in place in line with its strategy to secure a diversified, local sales book
· Successfully executing strategy to increase its institutional shareholder base
· Operating in a highly dynamic corporate environment – West Africa continues to attract the attention of major palm oil developers looking to secure future expansion
· Strongly placed for growth with a defined growth strategy in place
DekelOil Executive Director Lincoln Moore said, “The first six months of the year have been highly fruitful for DekelOil and I am pleased to report that we met our key objectives during the period. Considering that the Mill was only operational for four months of this half year period, we are very pleased with the revenue and EBITDA reported and we look forward to building on this.
“We have a defined growth strategy focussed on increasing our production and planted land position. We are operating in a highly dynamic sector, and look forward to maximising our value in the coming months and beyond.”
