Share Name Share Symbol Market Type Share ISIN Share Description
Dekel Agri-vision Plc LSE:DKL London Ordinary Share CY0106502111 ORD EUR0.0003367 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 4.70 848,919 08:00:00
Bid Price Offer Price High Price Low Price Open Price
4.60 4.80 4.70 4.70 4.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 17.73 -2.79 -0.85 25
Last Trade Time Trade Type Trade Size Trade Price Currency
16:12:12 O 62,989 4.75 GBX

Dekel Agri-vision (DKL) Latest News (6)

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Dekel Agri-vision (DKL) Discussions and Chat

Dekel Agri-vision Forums and Chat

Date Time Title Posts
24/6/202110:38DKL with Charts & News1,973
28/3/200609:54DKL can we have some more sellers please!!127
26/8/200315:34DKL...Lets start a new thread shall we89

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Dekel Agri-vision (DKL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-24 15:12:134.7562,9892,991.98O
2021-06-24 13:05:044.6550,0002,325.00O
2021-06-24 11:48:594.6513,000604.50O
2021-06-24 10:58:274.7535016.63O
2021-06-24 10:40:444.7542,1051,999.99O
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Dekel Agri-vision (DKL) Top Chat Posts

Dekel Agri-vision Daily Update: Dekel Agri-vision Plc is listed in the Food Producers sector of the London Stock Exchange with ticker DKL. The last closing price for Dekel Agri-vision was 4.70p.
Dekel Agri-vision Plc has a 4 week average price of 4.50p and a 12 week average price of 4.35p.
The 1 year high share price is 6p while the 1 year low share price is currently 1.80p.
There are currently 528,447,705 shares in issue and the average daily traded volume is 1,225,147 shares. The market capitalisation of Dekel Agri-vision Plc is £24,837,042.14.
rivaldo: Arden have retained their 9.3p target price on their "conservative" model: "Our outlook remains unchanged for Dekel based on these results, given the immense strain on the sector that the pandemic placed not only in terms of the pricing environment but logistics too. Dekel have shown that their ‘best in class’ operating model is robust. Diversification through the imminent ramp up of their cashew nut plant will drive further shareholder value and reduce concentration risk to palm. We make no changes to our target price and reiterate our buy rating at 9.3p representing an 97% upside to the current share price. Our model remains conservative given the favourable environment for palm oil prices and visibility of cashew nut revenues."
tradertrev: Don't think the minor delay to the cashew project will come as a surprise to anyone following this thread. In the grand scheme of things it's immaterial anyway. But I agree that one has to take LM's commentary with a small pinch of salt. Looks like most people do that, otherwise the share price would have been a lot higher than this yesterday and then fallen further today.
rivaldo: Cheers OutlawInvestor, excellent news re cashews. Looks like a good production update today too. FFB deliveries, CPO production and sales prices especially are all up materially on last year. In particular: "Dekel remains on course to post a material uplift in its H1 financial results compared to 2020." "H1 2021 financial results on course to materially surpass H1 2020's EUR15.4m revenues; EUR1.9m EBITDA; and EUR0.4m net profits" May's CPO sales are down year on year - but this is because DKL have been taking a patient approach to maximise sales prices, leading to a very large subsequent sale of 2,500 tonnes (presumably in June) at "materially higher" prices. June's figures should therefore look storming. I think we'll get a further cashew update in a week or two when DKL can formally announce site completion and production commencement. Very happy with that.
tradertrev: Maybe we'll get a nice photograph of an Ivorian politician cutting a ribbon. That should be worth a penny on the share price.
rivaldo: Arden today reiterate their Buy rating and 9.3p valuation. They note that additional value should come from increases in cashew processing utilisation, and they see "further potential earnings upgrades for 2021". Cheers hastings, very comprehensive summary. Great to see the CEO confidently looking for €5m EBITDA this year - and with the 2-3 year plan aiming for €100m revenues and €20m EBITDA. In which case the share price would likely be multiples of the current share price.
rivaldo: Arden's latest research was issued on 5th March and reads as follows, with a 9p target price and significant forecast upside given Arden's very low CPO prices used in their estimates: "Dekel Agri-Vision *Buy Target Price: 9p DKL.LCurrent Price: 4.7p Anticipating Earnings Upgrades from February Production Results Dekel Agri-Visions reported an excellent January production update, showing positive momentum, supporting our buy rating and underpinning excellent shareholder returns on offer. We see visible near-term earnings catalysts; favourable pricing conditions for palm oil as well as increasing utilisation and ownership of their cashew processing plant, demonstrating execution on the diversification strategy. ExcellentJanuary Update – In January, fresh fruit bunches (FFB) processed were up 52% YoY at 15,601MT and CPO production was also up 52% at 3,269MT. CPO sales in January were up 20% to 2,538MT. The average CPO price for January 2021 was €796/MT, 28% higher than January 2020, and significantly, over 30% higher than is currently factored into our forecast model for 2021. Executing on Diversification and Value Creation - Dekel purchased a further 16.7% in the Tiebissou Cashew Nut Processing Plant in February, raising its total ownership of the plant to 70.7%. As utilisation of this plant increases this year and through to 70% in 2022 on our numbers, operating leverage should drive strong free cash flow growth. Upside Risk to Earnings – Current production trends and average selling pricing (average CPO price in January was €796/MT) are running well ahead of our forecasts. If current trends are largely sustained and provide improved visibility on 2021 earnings, we would likely see significant double digit % earnings upgrades as our model incorporates average CPO prices of €600/MT for 2021 and €625/MT for 2022. Investment thesis and valuation- We reiterate our buy recommendation and 9p target price, based on our DCF sum-of-parts valuation. The stock trades on a very attractive 15% FCF yield in 2022 supported by the ramp up of cashew production which rises again in 2023. Strong execution on the multi-commodity strategy provides increasing exposure to higher value cashew processing in coming years and risk diversification which will ultimately reduce cost of capital to the Group and drive a rerating."
outlawinvestor: Quite informative interview with IG's Jeremy Naylor. LM reaffirmed the objective of organically growing output at the Ayenouan mill towards nameplate capacity of 60,000 tonnes p/a and suggests progress is being made to achieve higher FFB collection. In FY19 the FFB collection target was 190,000 tonnes targeting c. 43,000 tonnes CPO at 22.5% extraction rate - apparently a tough target when compared to actual collection and extraction rates. Processing a new commodity at the mill whets the appetite when one considers that the new commodity's capacity is additional to CPO nameplate capacity i.e. 60,000 tonnes CPO plus whatever capacity is declared for the 3rd commodity. We await full info but it seems clear that credits from the new commodity will meaningfully increase overall margins at the mill. It could mean that the mill stays profitable even if/when CPO prices dip. IMO, the current share price is unlikely to last long despite the recent 5p placing. The market has not yet priced in the stronger balance sheet, the increased exposure to the Tiebissou asset and the expectation of cashew revenues in H2. I don't have a crystal ball (obviously!) but based on fundamental analysis, experience and common sense I think the market will ascribe a 30% to 50% premium to the share price by the time the cashew mill is commissioned. Even that 6.5p to 7.5p level IMO still discounts other upside catalysts like RSPO certification, commencing 3rd commodity processing, increased CPO output, increased cashew output and the green energy project.
chadders: CPO futures up again. CPO now at $910. DKL share price still bumping along.
rivaldo: Agreed, the published spread should always be ignored as the true spread is usually so much better. Arden have updated as follows, confirming their Buy and 7.6p target price (nothing particularly price-sensitive, but a good summary so I've pasted it in full): "Dekel Agri-Vision has announced a positive set of palm oil production figures for October 2020. Fresh fruit bunches processed were up 15% in Oct 2020 at 9,350MT, compared with 8,118MT in Oct 2019. CPO production was up 19% at 1,818MT, compared with 1,528MT in Oct 2019, benefitting from higher extraction rates than in October last year. CPO sales in October 2020 were up 40% to 1,843MT, from 1,319MT in Oct 2019. The average CPO price for Oct 2020 was €636/MT, 28% higher than October 2019, when the CPO price was just €495/MT. PKO production was 14% lower at 129MT in October 2020 compared to 150MT in 2019, reflecting lower kernel purchases from other mills in the area, as a result of weak PKO prices. PKO sales were 251MT in October 2020 at an average price of €564/MT. (There were no PKO sales in October 2019). PKC production was 23% lower at 196MT in October 2020. Sales were 83% lower than in Oct 2019 at 47MT, whilst the average PKC price was up 5% at €61/MT in Oct 2020, compared to Oct 2019. The crude palm oil (CPO) price has continued to climb over the past few weeks. The average CPO price has jumped 5% in October 2020, compared with last month. This strong pricing performance has been as a result of restocking by key buying nations in Asia, such as China and Malaysia. Malaysia is now moving into its low production season. The current palm oil price is trading at US$825/MT (€698/MT). Dekel Agri-Vision’s management is cautiously optimistic that, despite the ongoing global pandemic, this supportive pricing environment will persist into the months ahead. This could provide supportive trading conditions for the Company, when it enters its upcoming peak harvesting season in Cote d’Ivoire, which runs from January to June.We are not currently making any changes to our forecasts. On the basis of our sum of parts valuation we value the company at 7.6p per share, equivalent a market capitalisation of £32.2m. This compares with the current share price of 2.4p and a market cap of £10.2m. We maintan our Buy recommendation."
chadders: I share the frustration but how much of the current share price decline is down to bad management? January share price was 3.5p and since then we've had CPO price drop to below $500 a tonne due to Covid and the share price followed the decline. The CPO price has since risen more than 50% to $775 a tonne, the company has returned to profitability, the Cashew nut project is progressing well, the debt has been restructured on significantly better terms, AgDevCo is onboard and production has been maintained during Covid etc etc.The share price is down 40% over the same period and has not followed the CPO price back up - the key parameter for performance and profitability...makes no sense on any level. In my view there are a few occasions when poor share price performance cannot be blamed on management but this is one.
Dekel Agri-vision share price data is direct from the London Stock Exchange
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