Share Name Share Symbol Market Type Share ISIN Share Description
Dekeloil LSE:DKL London Ordinary Share CY0106502111 ORD EUR0.0003367 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -0.10p -2.60% 3.75p 105,447 11:39:29
Bid Price Offer Price High Price Low Price Open Price
3.50p 4.00p 3.85p 3.75p 3.85p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 26.86 1.47 11.1

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Date Time Title Posts
01/11/201811:21DKL with Charts & News969
28/3/200608:54DKL can we have some more sellers please!!127
26/8/200314:34DKL...Lets start a new thread shall we89

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Dekeloil Daily Update: Dekeloil is listed in the Food Producers sector of the London Stock Exchange with ticker DKL. The last closing price for Dekeloil was 3.85p.
Dekeloil has a 4 week average price of 3.40p and a 12 week average price of 3.40p.
The 1 year high share price is 11.25p while the 1 year low share price is currently 3.40p.
There are currently 297,311,700 shares in issue and the average daily traded volume is 48,664 shares. The market capitalisation of Dekeloil is £11,149,188.75.
rivaldo: Hi Mattjos. IMO the main product is actually working reasonably well for them, but they've been undermined by typical resource company factors like (1) the commodity price, (2) local FFB availability and (3) production/new machinery issues. (3) has already been overcome, (2) looks like it will be, and (1)....well, who knows when. Certainly CPO prices aren't too healthy at present. The move into cashews is simply leveraging their local knowledge and reputation onto a product which is already well recognised in the country and where demand globally is going up and up. It looks a good move and healthy diversification to me. Remember that DKL is already expanding its CPO operations at Guitry. There are so few CPO independent producers left that DKL will probably be taken over at some point if it continues to fail to produce improved returns. In the meantime, the share price has fallen to a level where I can't see too much downside, but can over time see large upside after say a good couple of quarters of production and/or decent achieved sale prices. EDIT - looking like I'm wrong re the downside :o((
chadders: basem1, I think there's also very negative sentiment towards Palm Oil producers at the moments because of the deforestation in Malaysia and the antics of a few producers over there. DKL is an ethical producer (in a different continent) helping local growers and planting new trees sourced from their nursery operations. This is a major positive as there is significant pressure on the major consumers of CPO to ethically validate their supply chains. Sourcing from DKL would negate criticism of their operations immediately and get the environmentalists of their backs. CPO around 670 dollars per tonne at the moment so this wouldn't explain the woeful share price performance either. I'm keeping the faith and accumulating on the dips. DYOR etc...
rivaldo: Interview with the CEO not posted here before: Https:// - expects "double-digit growth" - record results for 4th year in a row for revenues and profitability - progressive dividend Sounds confident for this upcoming Q1/Q2 - such that the share price "will deliver what we're really worth".
twistednik: Promising newsflow - should start giving the share price momentum. They look well placed for the peak harvest.
ntv: I told you management failed to inform share of the companies trading problems during the placing and people knocked me for that. The share price says it all
basem1: Just sold my last 100,000 at 9.1. Taken a £5k hit in 2 weeks, not one of Rivaldo's better tips I'm afraid. Anyway onwards and upwards I'll put the money to good use elsewhere. Just can't see any share price drivers here for the next couple of months. The management seem a little inept !!
rivaldo: Back from hols, and surprised as everyone was about the Q3 update and the subsequent follow-up. Management have been extremely naïve in not flagging the lower Q3 production in the interim results, and naïve/negligent in not having satisfactory revenue recognition controls in place. Nevertheless, I do believe the share price has over-reacted, as often happens in these circumstances. Management HAVE proven that they can build from scratch and in good time a highly profitable and successful operation which can be replicated elsewhere. They now have to show that they can similarly manage successfully expectations of a PLC and its shareholders. Beaufort Securities' latest update post the Q3 production update concludes as follows - hopefully management have guided them prudently. If so, then the current share price is extremely cheap: "Beaufort considers DekelOil is capable of producing as much as £2.0m free cashflow during 2017E, followed by around £5m the year after. Importantly this demonstrates management’s willingness to move its ambitious planning forward without directly exposing shareholders to a higher risk profile. Based on modestly revised 2017E and 2018E revenues estimates of €31.1m and €35.8m, delivering fully-diluted earnings 1.60p and 2.20p respectively, the shares now trade on forward multiples of just 6.5x and 4.7x respectively while offering yields of 1.7% and 1.9%. Beaufort retains its Buy recommendation on DekelOil, while repeating its price target of 23p/share."
mount teide: Share-price down 36% since the spring when management reported rising profitability and cash flow, and said they would be starting a progressive dividend policy! It takes a special management skill to achieve that - DKL's more generous shareholders might call it p*ss poor communication, the market is clearly calling it the much more serious offence of disingenuous marketing or simply dishonesty, for which they already have 'form' from earlier in the year! Clearly, for the extremely well remunerated Nomad and NON Execs to have been asleep on the job once is unfortunate but twice in the same year is totally unacceptable. This management seems to have learnt nothing from the previous stunt(failure to report mill breakdown when it happened) which the market did't like at all by hammering the share price by 20%. Instead of learning a salutary lesson, what do the arrogant management do, repeat the offence and express surprise when the valuation gets another 20% haircut, by rushing out another RNS about an operational development that probably should have been implemented at least year ago since it's payback time period is very short and almost certainly would have already been recovered!
rivaldo: Beaufort today reiterate their Buy and 23p target: Https:// "DekelOil Public Limited (DKL.L, 11.75p) – Buy The operator and 100% owner of the vertically integrated Ayenouan palm oil project in Côte d’Ivoire yesterday announced a maiden final dividend of 0.17 pence per ordinary share for the year ended 31 December 2016. This is in line with the Company’s proposed dividend of £500,000 announced on 17 January 2017. A scrip alternative is being offered with this dividend to those investors who wish to receive additional DekelOil securities in lieu of a cash payment. By electing for the scrip dividend alternative, shareholders can increase their shareholding in the Company, in most cases without incurring stamp duty or dealing expenses. The scrip dividend elections will need to be received as instructed by 4 August 2017 from those investors who wish to receive shares in lieu of cash; the calculation period for this exercise will be between 13th and 19th July and certificates will be posted on 1st September, with payment date itself on 4th September. The Board also announced the date of its AGM as 3rd August. Our View: No surprises, but shareholders will be pleased to receive their first, of what should now become a progressive regular dividend payment. This one alone provides shareholders with a 1.45% yield. Full year results published on 6th June confirmed excellent progress, albeit knocked by an aberration just as the period came to a close. Revenues were a little ahead of expectations, but gross margins had been impacted by reduced availability of fresh fruit bunches during November and December. EBITDA accordingly came out at €4.1m compared with expectations of €4.8m. The new year, however, has started well with availability returning to normal and suggesting the Q4’2016 hit was a simple one-off. Meanwhile, positive steps are being taken with development of the Group’s own plantations which, together with World Bank assistance, should improve feedstock visibility going forward. Indeed, Beaufort considers DekelOil’s current share price still fails to recognise prospective upside from the ramping up its CPO production from now wholly-owned Ayenouan, where c.30% of the mill’s operational capacity is yet utilised (maximum capacity 70,000 tonnes per annum). Moreover, the management is far from standing still, having confirmed on 10 May 2017 that it is in discussion with Norpalm Ghana Limited (subsidiary of Norpalm AS) and certain Norpalm AS shareholders in relation to the potential acquisition of all or the majority of the shares in Norpalm by DekelOil to build out its operations in neighbouring Ghana. Norpalm is an owner and operator of c.4,000 hectares of mature palm plantations and operates a 30 tn/hr mill which also purchases FFB from local producers. Norpalm sells 15,000 tonnes of crude palm oil sold into the domestic Ghanaian market, and also operates a PKO press which produces c.2,000 tn of PKO in the Ghanaian market. Such discussions are still ongoing and therefore there can be no guarantee that it will proceed. The Board intend, however, that it would be financed through a combination of DekelOil’s existing cash resources, new equity partners at project level and debt financing. The potential acquisition, if it were to proceed, would not constitute a Reverse Takeover, and so publication of a prospectus is not required. The Group will make further announcements in due course. Even if Beaufort now takes the prudent step, based on recent commodity trading, of factoring slightly lower CPO price projections into its forecast model, this has not changed its price target for the shares. Currently valued at FY2017E and FY2018E P/E multiples of just 7.8x and 5.8x, along with dividend yields of 1.5% and 1.7% respectively, Beaufort retains its Buy rating on the Shares with target price of 23p."
rivaldo: FYI here's Optiva's update from last week - they have a 32p target and have DKL on a current year P/E of just 4.5: "The Ayenouan project is proving to be a cash cow Ticker: DKL LN Mkt Cap: £38.5m Shares Out: 296m Q1 Production Update: DekelOil (“Company̶1;) has reported record production and material sales growth in Q1 2017. Total revenue in Q1 2017 was significantly higher by 37% at €9.7m, when compared to Q1 2016 and beat Optiva’s estimates of €9.1m. Record quarterly CPO production at 16,398 tonnes, which is 8.3% higher when compared to Q1 2016 and surpassed Optiva’s estimates of 14,335 tonnes. PKO production was reported at 996 tonnes, which was flat when compared to Q1 2016, however the average PKO sales price was 35% higher at $1,008 per tonne. The management believe they are set to move forward with the expansion phase. Strong revenue has been predominantly driven by higher palm oil prices and to some extent the optimisation of their ground operations. CPO prices have surged significantly since June 2016 where it was trading around $550m/t, but moved higher and recently traded around $750m/t back in February 2017. We maintain our bullish stance on palm oil prices in the short term on the back of tight supply, weaker ringgit and higher biodiesel mandates. The management has done extremely well to optimise operations by boosting the extraction rates of CPO and PKO. The acquisition of an Empty Fruit Press (‘EFP’), which became operational in March 2017 could boost underlying profits by at least €500k in in first full year of operation. The financial year-end results for 2016 are expected to be announced over the next 8 weeks and we estimate total revenues of around €26m, EBIT of €4.8m and underlying profits of €3.7m. In 2017, we forecast total revenues of €32m, EBIT of 11m, and underlying profits of around €10m. The management’s recent announcement of a progressive dividend policy and a maiden dividend of £500,000 will put the Company on a dividend yield of around 1.4% based on the current share price. Based on our 2017 forecasts, Dekeloil trades on a P/E of 4.5x, compared to London peers trading on an average of 17x. In our view, this is unjustified based on how much the Company has advanced from a palm oil developer to a sustainable profitable producer. DekelOil presents a compelling opportunity for investors seeking a balance of capital and income growth. We maintain our price target of 32 pence per share."
Dekeloil share price data is direct from the London Stock Exchange
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