SIPEF

Earnings Release • Feb 16, 2017

PRESS RELEASE 2016

Regulated information | December 2016

Group production

of the SIPEF Group (in tonnes)

	2016				2015					YoY Variation
Palm Oil	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Own
Tolan Tiga Group	12 727	13 634	19 643	17 951	63 955	13 146	16 765	22 190	17 196	69 297	4.39%	-7.71%
UMW/TUM Group *	8 053	9 096	10 808	9 264	37 221	5 240	7 332	7 348	7 869	27 789	17.73%	33.94%
Agro Muko	16 486	18 369	20 873	20 357	76 085	16 033	18 700	22 471	20 436	77 640	-0.39%	-2.00%
Hargy Oil Palms	16 021	18 038	11 768	23 033	68 860	14 203	17 255	14 484	17 880	63 822	28.82%	7.89%
Total own	53 287	59 137	63 092	70 605	246 121	48 622	60 052	66 493	63 381	238 548	11.40%	3.17%
Outgrowers
Tolan Tiga Group	162	245	234	262	903	0	43	87	150	280	74.67%	222.50%
UMW/TUM Group	76	159	104	5	344	36	311	300	11	658	-54.55%	-47.72%
Agro Muko	367	414	460	471	1 712	359	436	501	447	1 743	5.37%	-1.78%
Hargy Oil Palms	12 554	13 017	7 614	15 440	48 625	11 524	13 802	11 034	13 318	49 678	15.93%	-2.12%
Total outgrowers	13 159	13 835	8 412	16 178	51 584	11 919	14 592	11 922	13 926	52 359	16.17%	-1.48%
Total Palm Oil	66 446	72 972	71 504	86 783	297 705	60 541	74 644	78 415	77 307	290 907	12.26%	2.34%
Palm Kernels	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Own
Tolan Tiga Group	3 228	3 473	4 839	4 620	16 160	3 214	3 772	5 291	4 387	16 664	5.31%	-3.02%
UMW/TUM Group *	1 341	1 477	1 770	1 520	6 108	873	1 133	965	1 098	4 069	38.43%	50.11%
Agro Muko	3 865	4 324	4 901	4 709	17 799	3 797	4 380	5 307	4 779	18 263	-1.46%	-2.54%
Total own	8 434	9 274	11 510	10 849	40 067	7 884	9 285	11 563	10 264	38 996	5.70%	2.75%
Outgrowers
Tolan Tiga Group	37	57	55	60	209	0	10	20	35	65	71.43%	221.54%
UMW/TUM Group	16	32	21	1	70	6	71	79	2	158	-50.00%	-55.70%
Agro Muko	70	82	91	90	333	69	90	102	86	347	4.65%	-4.03%
Total outgrowers	123	171	167	151	612	75	171	201	123	570	22.76%	7.37%
Total Palm Kernels	8 557	9 445	11 677	11 000	40 679	7 959	9 456	11 764	10 387	39 566	5.90%	2.81%
Palm Kernel Oil	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Own
Hargy Oil Palms	1 392	1 638	1 069	1 843	5 942	1 074	1 310	1 173	1 588	5 145	16.06%	15.49%
Total own	1 392	1 638	1 069	1 843	5 942	1 074	1 310	1 173	1 588	5 145	16.06%	15.49%
Outgrowers
Hargy Oil Palms	1 124	1 326	606	1 309	4 365	917	1 148	884	952	3 901	37.50%	11.89%
Total outgrowers	1 124	1 326	606	1 309	4 365	917	1 148	884	952	3 901	37.50%	11.89%
Total Palm Kernel Oil	2 516	2 964	1 675	3 152	10 307	1 991	2 458	2 057	2 540	9 046	24.09%	13.94%

* an equivalent of 2 455 tonnes of palm oil have been sold to a neighbouring palm oil mill

Group production of the SIPEF Group (in tonnes)

	2016			2015					YoY Variation
Rubber	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Own
Tolan Tiga Group	804	568	803	939	3 114	820	604	813	981	3 218	-4.28%	-3.23%
Melania	797	1 206	461	761	3 225	1 005	1 230	417	413	3 065	84.26%	5.22%
Agro Muko	489	538	417	402	1 846	445	489	377	352	1 663	14.20%	11.00%
Galley Reach	436	396	0	0	832	530	392	420	334	1 676	-100.00%	-50.36%
Total own	2 526	2 708	1 681	2 102	9 017	2 800	2 715	2 027	2 080	9 622	1.06%	-6.29%
Outgrowers
Agro Muko	0	0	0	0	0	0	0	0	0	0	-	-
Galley Reach	62	113	0	0	175	40	111	160	136	447	-100.00%	-60.85%
Total outgrowers	62	113	0	0	175	40	111	160	136	447	-100.00%	-60.85%
Total Rubber	2 588	2 821	1 681	2 102	9 192	2 840	2 826	2 187	2 216	10 069	-5.14%	-8.71%
Tea	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Own
Melania	793	714	754	679	2 940	740	784	495	707	2 726	-3.96%	7.85%
Total own	793	714	754	679	2 940	740	784	495	707	2 726	-3.96%	7.85%
Outgrowers
Melania	0	0	0	0	0	0	0	0	0	0	-	-
Total outgrowers	0	0	0	0	0	0	0	0	0	0	-	-
Total Tea	793	714	754	679	2 940	740	784	495	707	2 726	-3.96%	7.85%
Bananas	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Azaguie	1 506	995	1 444	1 371	5 316	1 463	1 176	1 188	1 145	4 972	19.74%	6.92%
St.Thérèse	714	832	949	1 364	3 859	0	0	0	0	0	-	-
Agboville	2 657	2 124	2 670	2 361	9 812	2 900	2 354	2 626	2 733	10 613	-13.61%	-7.55%
Motobe	1 894	1 464	1 470	1 176	6 004	2 702	2 256	2 016	1 727	8 701	-31.91%	-31.00%
Total Bananas	6 771	5 415	6 533	6 272	24 991	7 065	5 786	5 830	5 605	24 286	11.90%	2.90%

Commodity Price Data

Product		YTD Q4/2016	YTD Q4/2015
CPO (CIF Rotterdam)	in \$/mt	700	623
CPKO (CIF Rotterdam)	in \$/mt	1 290	909
RSS3 (FOB Singapore)	in \$/mt	1 605	1 559
Tea (avg auct Mombasa)	in \$/mt	2 298	2 742
Bananas (FOT Europe)	in \$/mt	905	903

* World Bank Commodity Price Data

Tea in \$/mt ■ 2016 ■ 2015 Bananas EU in \$/mt ■ 2016 ■ 2015