USD reporting
MP Evans · MPE.L
Palm oil (Indonesia) · Filing
- Acres
- 134,600
- Book / acre
- USD 2,229
- Market cap (USD)
- $1,018M
- EV / acre (USD)
- $7,413
Sector KPIsestimate
- FFB yield
- 22.0 t/ha
- OER
- 22.0%
- KER
- 4.8%
- CPO ASP
- USD 950/t
- CPO cost
- USD 700/t
- RSPO certified
- 100.0%
- Methane capture
- 50.0% of mills
- Replanting LTM
- 1,200 ha
- NDPE compliance
- 100.0%
Tangible Balance-Sheet Assets
Asset-class composition from the latest FY filings, alongside market enterprise value for an asset-coverage view. Land at FMV when a per-property breakdown is available; other classes at filed book value.
| Asset class | Book (USD M) | FMV (USD M) | Note |
|---|---|---|---|
| Land / property | 300 | 689 | Per-property breakdown below |
| PP&E (mills, plants, machinery) | 165 | — | Net of accumulated depreciation |
| Inventory | 42 | — | |
| Intangibles + goodwill | 8 | — | Excluded from tangible total |
| Tangible total (ex-cash) | 507 | 896 | |
| + Cash & equivalents | 50 | 50 | |
| Tangible total (incl. cash) | 557 | 946 | |
| Reported total assets (BS) | 600 | — | Latest period 2024-12-31 |
Tangible book
USD 557M
93% of total assets
Market cap
USD 761M
137% of tangible book
Enterprise value
USD 741M
133% of tangible book
Implied fair market analysis
As of 2024-12-31FMV by category
Aggregated from per-property assumptions below| Category | Properties | Acres | Avg book USD/acre | Avg FMV USD/acre | Book (USD M) | FMV (USD M) | FMV range (USD M) | FMV vs book |
|---|---|---|---|---|---|---|---|---|
| Indonesian palm — North Sumatra | 1 | 37,900 | 2,770 | 5,500 | 105 | 208 | 171–246 | +98.5% |
| Indonesian palm — East Kalimantan (mature) | 1 | 24,500 | 2,041 | 4,800 | 50 | 118 | 96–139 | +135.2% |
| Indonesian palm — South Sumatra | 1 | 20,900 | 2,392 | 5,000 | 50 | 105 | 86–123 | +109.0% |
| Indonesian palm — Aceh | 1 | 19,000 | 1,842 | 4,500 | 35 | 86 | 70–101 | +144.3% |
| Indonesian palm — Bangka-Belitung | 1 | 19,000 | 1,842 | 4,500 | 35 | 86 | 70–101 | +144.3% |
| Indonesian palm — East Kalimantan (ABK new planting) | 1 | 13,400 | 1,866 | 3,500 | 25 | 47 | 38–55 | +87.6% |
| Plasma plantations (partnership receivable) | 1 | — | — | — | 40 | 41 | 33–49 | +2.5% |
| Total | 7 | 134,700 | 2,524 | 5,118 | 340 | 689 | 565–814 | +102.8% |
Properties
7-row breakdown by Indonesian province cluster + plasma carve-out. Total managed: 70,900 ha = 175K acres comprising 54,300 ha nucleus owned (134.4K acres) + 16,600 ha plasma smallholder partnerships (41K acres excluded from owned).| Property | Category / crop | Acres | Acquired | Cost (USD M) | Book (USD M) | USD/acre book | FMV USD/acre | FMV (USD M) | vs book | Comps |
|---|---|---|---|---|---|---|---|---|---|---|
North Sumatra plantations + mills (PT Sumber Indah Perkasa) — nucleus only North Sumatra Province, Indonesia | Indonesian palm — North Sumatra Mature oil palm + multiple mills | 37,900 | — | — | 105 | 2,770 | 5,500 4,510–6,490 | 208.5 | +98.5% | ID-PALM-NSUMATRA-2024ID-PALM-MATURE-2024 MP Evans' most established cluster with multiple mills; mature plantation $5-6K USD/acre |
East Kalimantan — Bumi Mas estate + mill (mature core, nucleus only) East Kalimantan Province, Indonesia | Indonesian palm — East Kalimantan (mature) Mature oil palm + Bumi Mas mill | 24,500 | — | — | 50 | 2,041 | 4,800 3,936–5,664 | 117.6 | +135.2% | ID-PALM-KALIMANTAN-2024ID-PALM-MATURE-2024 Bumi Mas mature estate + mill cluster |
South Sumatra (Musi Rawas + 2024 sixth mill) — nucleus only Musi Rawas, South Sumatra Province, Indonesia | Indonesian palm — South Sumatra Oil palm + sixth mill (commissioned 2024) | 20,900 | — | — | 50 | 2,392 | 5,000 4,100–5,900 | 104.5 | +109.0% | ID-PALM-SSUMATRA-2024ID-PALM-MATURE-2024 Musi Rawas concession with 2024-commissioned sixth mill; ~11K ha planted by start of 2025 |
Aceh plantations — nucleus only Aceh Province, Indonesia | Indonesian palm — Aceh Oil palm | 19,000 | — | — | 35 | 1,842 | 4,500 3,690–5,310 | 85.5 | +144.3% | ID-PALM-MATURE-2024 Aceh smaller plantation cluster |
Bangka-Belitung plantations (offshore Sumatra) — nucleus only Bangka-Belitung Province, Indonesia | Indonesian palm — Bangka-Belitung Oil palm (mining-rehabilitation area) | 19,000 | — | — | 35 | 1,842 | 4,500 3,690–5,310 | 85.5 | +144.3% | ID-PALM-MATURE-2024 Bangka-Belitung mining-rehabilitation oil palm — offshore Sumatra |
East Kalimantan — ABK expansion (2025 new planting, nucleus only) East Kalimantan Province (ABK area), Indonesia | Indonesian palm — East Kalimantan (ABK new planting) Oil palm — new planting 2025 (immature) | 13,400 | — | — | 25 | 1,866 | 3,500 2,870–4,130 | 46.9 | +87.6% | ID-PALM-KALIMANTAN-2024ID-PALM-IMMATURE-2024 ABK project area — 2025 new planting at immature/development stage discount to mature MPE estates |
Plasma plantations (scheme-smallholder partnerships) Indonesia (across all MPE provinces) | Plasma plantations (partnership receivable) Plasma estate partnerships (~16,600 ha NOT owned by MPE) | 41,000 | — | — | 40 | 976 | 1,000 800–1,200 | 41 | +2.5% | ID-PALM-IMMATURE-2024 16,600+ ha plasma scheme-smallholder estates owned by local communities around MPE's estates — managed under contract with the Group, FFB purchased at regulated price. NOT on balance sheet as land asset |
Comparable land transactions and surveys
6 reference points · all dated within last 24 months| ID | Description | Location | Acres | $ / acre | Date | Source |
|---|---|---|---|---|---|---|
| MPE-DISP-2024 | MP Evans 2024 disposition / acquisition pricing — USD basis | MP Evans portfolio | — | $5,000 | Dec 2024 | MP Evans 2024 Final Results presentation |
| ID-PALM-SSUMATRA-2024 | South Sumatra palm with new mill access | South Sumatra | — | $4,800 | Nov 2024 | Sumatran plantation broker reports 2024 |
| ID-PALM-NSUMATRA-2024 | North Sumatra mature palm | North Sumatra | — | $5,800 | Oct 2024 | Indonesian palm broker comps 2024 |
| ID-PALM-IMMATURE-2024 | Indonesian unplanted/immature palm | Indonesia (concession-stage) | — | $2,500 | Oct 2024 | GAPKI 2024 reports |
| ID-PALM-KALIMANTAN-2024 | East Kalimantan palm oil concession | East Kalimantan | — | $4,400 | Sep 2024 | Kalimantan palm broker comps 2024 |
| ID-PALM-MATURE-2024 | Indonesian mature oil palm with mill access | Indonesia | — | $5,000 | Sep 2024 | GAPKI Indonesia palm oil land transaction reports 2024 |
MP Evans expanded from 4-row to 7-row breakdown including plasma carve-out. CRITICAL CHANGE: 16,600 ha plasma estates (~41K acres) carved out via excludeFromAcreTotals=true. Plasma is owned by local communities around MPE's estates — managed under scheme-smallholder contracts where MPE buys FFB at regulated price but doesn't own the land. Cluster breakdown (NUCLEUS ACRES — net of plasma): - North Sumatra (37.9K ac): most mature with multiple mills - South Sumatra Musi Rawas (20.9K ac): 6th mill commissioned 2024 - Aceh (19K ac): smaller mature cluster - Bangka-Belitung (19K ac): offshore Sumatra mining-rehabilitation - East Kalimantan Bumi Mas mature (24.5K ac): primary KAL cluster - East Kalimantan ABK expansion (13.4K ac): 2025 new planting at immature discount - Plasma scheme-smallholder partnerships (41K acres EXCLUDED): NOT MPE-owned Total nucleus: 134.6K acres = 54.3K ha. Total managed (incl plasma): 175K acres = 70.9K ha per MP Evans FY24 disclosure. USD-reporting + GBp-listing structure unchanged. Per-acre values reduced ~23% across all six nucleus rows to back out plasma proportionally.
Financial snapshot
50 reported periods · 2526 daily price points
Reported metrics (revenue, EBITDA, property value, NAV/share, total acres) come from content/farmland-financials/MPE.L.json — manually compiled at the most-granular timeframe each issuer discloses (typically quarterly). Stock price overlay and premium/discount on the NAV/share chart use daily Yahoo close; premium/discount steps each time NAV is re-reported.
Sector trends
9 populated KPIs · 1996–2024