United Plantations Berhad (2089) investor relations material

Executive summary

• Revenue for the six months ended 30 June 2026 rose 10.9% year-over-year to RM1,282.4 million, driven by higher refinery sales volumes.

• Profit before tax declined 13.8% year-over-year to RM475.5 million, mainly due to weaker performances in both plantation and refinery segments.

• Net profit attributable to equity holders fell 14.1% year-over-year to RM354.7 million.

• Earnings per share decreased 14.1% year-over-year to 57.00 sen.

Financial highlights

• Operating expenses increased 30.9% year-over-year to RM852.9 million.

• Other operating income grew 55.9% year-over-year to RM36.0 million.

• Finance costs surged to RM577, up from RM18 in the prior year period.

• Interest income dropped 25.6% year-over-year to RM7.6 million.

• Cash and cash equivalents at period end were RM291.3 million, down from RM387.2 million at the end of the prior period.

Outlook and guidance

• Management expects satisfactory results for 2026, supported by firm palm oil prices, expanding biodiesel mandates, and operational discipline.

• Key risks include global energy market developments, weather patterns (notably El Niño), and rising input costs.

• Refinery segment results are expected to improve in coming quarters as hedging losses are reversed.