On Thursday 19 May 2022, UIE Plc. announced its First Quarter Report 2022.

Highlights from Q1 2022:

UIE's net result in the first quarter of 2022 amounted to a loss of USD 19.5 million, which is USD 36.5 million lower than the net result of USD 17.0 million reported in the first quarter of 2021.

UIE's share of UP's net profit decreased by 22% to USD 6.9 million due to a negative contribution from UP's refinery division caused by the timing differences of raw materials hedging positions versus physical delivery of the finished goods. UP's plantation division reported production volumes in the same range as Q1-2021, but the higher selling prices of crude palm oil ("CPO") and palm kernel ("PK") led to an improved result compared to the first quarter of 2021:

  • UP's production of CPO decreased marginally by 1%, while PK increased by 2%.
  • UP's average selling prices of CPO and PK increased by 31% and 68%, respectively.

The fair value of UIE's investment in Schörling amounted to USD 234.2 million at the end of the first quarter of 2022 - a decrease of USD 29.6 million, or 11%, since year-end 2021. This is due to equity markets, in general, declining during the first quarter as well as a weaker SEK towards USD. For comparison, the fair value adjustment in the first quarter of 2021 was USD 6.7 million.

The fair value of UIE's investment in Greenbridge amounted to USD 40.8 million at the end of the first quarter of 2022 after a fair value increase of USD 6.3 million in the first quarter of 2022, mainly due to positive development in the largest investment, Neo4j.

https://news.cision.com/uie-plc/r/uie-s-first-quarter-report-2022,c3570436

https://mb.cision.com/Main/17799/3570436/1581958.pdf

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