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LONDON - Anglo-Eastern Plantations Plc (AEP), a leading producer of palm oil with operations in Indonesia and Malaysia, has announced its audited results for the year ended December 31, 2024. Despite a decline in production volumes due to replanting programs and regional weather disruptions, the company reported a modest revenue increase and a significant rise in net profit margin.
The group’s revenue from continuing operations slightly grew to $372.3 million, a 0.5% rise from the previous year, supported by higher Crude Palm Oil (CPO) prices that offset the impact of reduced production levels. The profit after tax from continuing operations climbed by 20% to $67.6 million, compared to $56.1 million restated in 2023, with earnings per share increasing by 37% to 170.88 cents.
AEP’s production results showed a 7% decrease in Fresh Fruit Bunches (FFB) and a 12% drop in CPO production compared to the previous year. The group’s yield per hectare declined from 19.4mt/ha in 2023 to 17.8mt/ha in 2024, while the oil extraction rate decreased slightly to 20.2%.
Amidst the operational challenges, AEP remained committed to sustainability, with the official start of Indonesia’s first commercial BioCNG plant on its Blankahan Estate in January 2024. This project, in collaboration with PT KIS BioFuel Indonesia, underscores AEP’s dedication to sustainable palm oil by-product utilization.
Reflecting the strength of the business, the Board declared a dividend of 51 cents per share, demonstrating its commitment to shareholder value. The group also reported the full acquisition of minority stakes in two Indonesian subsidiaries, achieving 100% ownership and aligning with its strategy for expansion.
The Group’s strategic focus on sustainability is evident in its compliance with various sustainability policies and an improvement in its SPOTT Score from 51.6% to 60.2%. With a view to future growth, AEP has introduced a new vision and mission emphasizing yield improvements and adherence to ESG principles.
AEP’s commitment to sustainability extends to its pursuit of RSPO certification, in response to global deforestation regulations, particularly from the European Union. The Group has proactively enhanced traceability within its supply chains to align with evolving industry standards.
To improve long-term yields, AEP has intensified replanting efforts, targeting around 10 thousand hectares for its 2025-2030 programme. The company aims to use higher-yielding and disease-resistant palm varieties to boost productivity and sustainable returns.
In addition to dividend distributions, AEP has actively repurchased shares, believing them to be undervalued relative to the company’s strong fundamentals and growth potential. In 2024, AEP repurchased 71,852 Ordinary Shares at a cost of $0.6 million and intensified its efforts in 2025 with a $5 million non-discretionary programme.
The information is based on a press release statement, and the Group’s financial statements have been prepared in accordance with UK adopted International Accounting Standards.
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