65 INTEGRATED ANNUAL REPORT 2025 HIGHLIGHTS NCT FORESTRY AGRICULTURAL CO-OPERATIVE LIMITED and its SUBSIDIARIES FINANCIAL REPORT for the year ended 28 February 2025 FARMS Turnover R’000 2025 2024 236 118 334 502 TONNES PURCHASED 2025 2024 Eucalyptus 431 760 854 262 49% Acacia 709 956 788 932 10% Pinus 216 1 617 87% Biomass 105 880 11 640 810% Other timber 94 830 72 273 31% TONNES 2025 2024 1 342 642 Purchased 1 728 724 1 120 482 Sold 1 565 979 MEMBERS’ BONUS R’000 2025 2024 nil nil MILLS 16 vessels / 5 customers / 2 countries Exchange rate achieved R18.50 : 1 USD R1.4 billion turnover 28% less volume sold because of Richards Bay fire and Durban port loader accident Insurance proceed received offset operating losses Unfavourable plantation valuating adjustments NCT OWNED / LEASED FARMS Turnover R’000 2025 2024 147 993 272 890 Farm profits before revaluations and tax R’000 2025 2024 (19 739) 62 325 Plantation revaluation R’000 2025 2024 (71 815) 47 660 Strategic reservoir of timber stock while taking advantage of opportunities to generate cash GROUP Turnover R’000 2025 2024 1 865 539 2 941 515 Net profit before tax R’000 2025 2024 180 598 80 310 CO-OPERATIVE Turnover R’000 2025 2024 1 864 217 2 943 529 Net profit before tax R’000 2025 2024 140 360 75 607
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