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UK-listed palm oil producer growing and processing oil palm and rubber on plantations in Indonesia and Malaysia.
UK-listed palm oil producer growing and processing oil palm and rubber on plantations in Indonesia and Malaysia.
Grows oil palm and rubber and sells crude palm oil and kernels at benchmark-linked prices to refiners and traders, so profit tracks prices and yields rather than anything the company controls. Plantation trees take years to mature, so planting decisions pay off slowly.
In one line: A UK-listed emerging-market palm oil planter.
Moat: narrow (scale, installed base). Owns mature plantation land banks in Indonesia/Malaysia built up over decades.
Headquarters: London, UK
Size AEP Plantations (AEP.L) is a United Kingdom Consumer Staples company (Agricultural Commodities/Milling) with a market value of $757M, the 249th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £148.20 on 6 Nov 2026.
Performance Over six months the shares fell 26.1%, against -8.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue grew 7.1% over the last twelve months (peer median +11.3%); the operating margin is 21.3% (peer median 3.6%).
Valuation It trades at 6.7× forward earnings against a peer median of 13.4× (cheapest of 10).
Price implies For today's price to make sense, revenue must grow about -14% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.9 points above its cost of capital (6.8% WACC).
Next results Next results expected around 5 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £361M | £353M | £291M | £298M | £363M |
| Revenue growth | — | +21% | -2% | -18% | — |
| Gross profit | £91.7M | £95.0M | £67.1M | £63.5M | £116M |
| EBITDA | £93.3M | £99.3M | £74.9M | £69.5M | £122M |
| Net income | £67.9M | £69.0M | £52.8M | £42.8M | £72.2M |
| Free cash flow | £44.8M | £69.7M | £39.4M | £5.16M | £74.2M |
| Capital expenditure | £25.1M | £22.9M | £22.7M | £26.9M | £27.6M |
| Total debt | n/a | £401,472 | £606,835 | £791,497 | £86,458 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| AEP Plantations AEP.L | $757M | -26% | +7% | 21% | 6.7× | -13.7% |
| M.P. Evans MPE.L | $1.20B | -5% | +1% | 39% | 9.7× | -9.7% |
| Wilmar International F34.SI | $14.5B | -19% | +6% | 3% | 10.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AEP.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -24.7% | +0.7% | lowest of 21 |
| 6-month return | -26.1% | -8.2% | 5th lowest of 20 |
| Distance from 52-week high | -35.3% | -31.7% | 11th highest of 21 |
| Revenue growth (TTM) | +7.1% | +11.3% | 10th lowest of 21 |
| Operating margin | 21.3% | 3.6% | 2nd highest of 21 |
| Forward P/E | 6.7× | 13.4× | cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | -13.7% | 2.7% | least demanding of 14 |
| Growth delivered (Del g) | +11.4% | +5.6% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | -25.1 pp | -6.3 pp | 2nd least demanding of 14 |
| ROIC minus cost of capital | +8.9 pp | -1.1 pp | 4th highest of 21 |
| EV / EBITDA | 5.3× | 9.4× | cheapest of 7 |
| Net debt / EBITDA | -0.8× | 2.5× | 2nd least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AEP Plantations AEP.L | United Kingdom | $757M | -26% | +7% | 21% | 6.7× | -13.7% | +11.4% |
| TTET Union 1232.TW | Taiwan | $777M | +8% | +13% | 9% | n/a | -6.7% | +4.3% |
| Tangrenshen 002567.SZ | China | $783M | -12% | -14% | -9% | n/a | 34.7% | +5.5% |
| Cresud SA Sponsored ADR CRESY | United States | $709M | -18% | +11% | 16% | 7.0× | n/a | n/a |
| Gokul Agro Resources GOKULAGRO.NS | India | $702M | -5% | +21% | 3% | n/a | 2.7% | +23.5% |
| Showa Sangyo 2004.T | Japan | $820M | +30% | +3% | 3% | 12.9× | 1.3% | +5.6% |
| Ridley RIC.AX | Australia | $696M | +1% | +120% | 4% | 14.6× | 4.4% | +25.3% |
| Mitsui DM Sugar 2109.T | Japan | $696M | +6% | -2% | 7% | n/a | -6.8% | +10.6% |
| Great-Sun Foods 603336.SS | China | $694M | -35% | -8% | 6% | n/a | 28.4% | +1.8% |
| Shandong Xiantan 002746.SZ | China | $838M | +1% | +12% | 5% | 14.1× | n/a | n/a |
| Tech-bank Food 002124.SZ | China | $666M | -23% | -20% | -42% | n/a | 0.3% | -4.2% |
| Hangzhou Qiandaohu Xunlong Sci-tech 6715.HK | Hong Kong | $663M | n/a | +20% | 46% | n/a | -11.4% | +13.5% |
| Winall Hi-Tech Seed 300087.SZ | China | $663M | -39% | -14% | -3% | 20.4× | 41.9% | +23.0% |
| Guangdong Yuehai Feeds 001313.SZ | China | $662M | -24% | +24% | 2% | n/a | 10.5% | +2.1% |
| Luoniushan 000735.SZ | China | $876M | -23% | +48% | -2% | n/a | n/a | n/a |
| Tongyi Carbon Neutral Technology (Xinjiang) 600506.SS | China | $653M | 0% | +24% | 2% | n/a | 21.8% | +82.4% |
| Cobram Estate Olives CBO.AX | Australia | $896M | -29% | +11% | -5% | 23.9× | n/a | n/a |
| Dongrui Food 001201.SZ | China | $629M | +23% | +2% | -30% | 10.8× | n/a | n/a |
| Rogers Sugar RSI.TO | Canada | $618M | +2% | -6% | 10% | 12.4× | n/a | n/a |
| Charoen Pokphand Enterprise (Taiwan) 1215.TW | Taiwan | $927M | -26% | +4% | 10% | 13.4× | -1.2% | +5.1% |
| Piccadily Agro Industries PICCADIL.NS | India | $607M | -8% | +29% | 20% | n/a | n/a | n/a |