United Plantations Berhad (2089) Q1 2026 earnings summary

Executive summary

• Revenue rose 23.8% year-over-year to RM640.6 million, driven by higher CPO and PK production and increased refinery sales volume.

• Profit before tax declined 5.8% year-over-year to RM209.6 million, mainly due to weaker refinery performance and hedging losses.

• Net profit attributable to equity holders was RM160.7 million, down 1.6% year-over-year.

• Total comprehensive income dropped 41.4% year-over-year, impacted by significant fair value losses on cash flow hedges.

Financial highlights

• Operating profit for the quarter was RM205.1 million.

• Earnings per share (EPS) was 25.82 sen, down 1.6% year-over-year.

• Net assets per share increased to RM4.77 from RM4.62 at year-end 2025.

• Cash and cash equivalents at quarter-end were RM505.6 million.

• No group borrowings as at 31 March 2026.

Outlook and guidance

• Palm oil prices are expected to remain supported by biodiesel demand and global energy market developments.

• Management anticipates satisfactory performance for 2026, focusing on operational discipline and cost containment.

• Rising input costs and potential demand rationing are noted as moderating factors.