DJ R.E.A. Holdings plc: Annual report in respect of 2023 R.E.A. Holdings plc (RE.) R.E.A.
R.E.A. Holdings plc R.E.A. Holdings plc: Annual report in respect of 2023 25-Apr-2024 / 07:00 GMT/BST =---------------------------------------------------------------------------------------------------------------------- R.E.A. HOLDINGS PLC ANNUAL FINANCIAL REPORT 2023 The company's annual report for the year ended 31 December 2023 will shortly be available for downloading from www.rea.co.uk/investors/financial-reports.
The group's present level of indebtedness re?ects a number of challenges that have confronted the group in recent years. Over the period 2015 to 2017, group crops fell considerably short of the levels that had been expected. The reasons for this were successfully identi?ed and addressed but, as crops recovered to better levels, the group had to contend with falling CPO prices.
Outstanding contract liabilities at 31 December 2023 amounted to USD17.1 million which will fall due for repayment over the two years 2024 and 2025 with USD12.4 million being repaid in 2024 and USD4.7 million in 2025. Following significant investment in the group's stone and sand interests during 2023, production of stone has now started and it is expected that production of sand will follow within 2024. Accordingly, both activities are expected to return cash to the group in 2024 and going forward.
In addition to the cash required for debt repayments, as at 31 December 2023 the group also requires cash in the period to 30 April 2025 to fund capital expenditure, dividends and arrears of dividend on the company's preference shares and repayment of contract liabilities as referred to in more detail in the Viability statement above.
- the Strategic report and Directors' report in the annual report include a fair review of the development and performance of the business and the position of the company and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face; and
The 2023 financial statements and the accompanying financial information were approved by the board of directors on 24 April 2024.2023 2022 USD'000 USD'000 Revenue: Sales of goods 175,313 206,611 Revenue from management services 1,138 1,520 Revenue from coal interest 271 652 176,722 208,783 Cost of sales: Depreciation and amortisation Other costs 3. Segment information
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