Mon, Mar 24, 8:57 PM (33 days ago)
**Kaanapali Land, LLC (KLL) - Financial Summary (Ticker: N/A)** **Financial Performance:** - **Revenue:** $1,951,000 (2024), down from $5,254,000 (2023) due to reduced coffee sales post-Lahaina wildfire. - **Net Income:** -$1,091,000 (2024), down from $3,707,000 (2023) due to increased operating expenses and insurance claims. - **Operating Expenses:** $9,495,000 (2024), up from $5,204,000 (2023) due to increased selling, general, and administrative expenses. - **Earnings per Share:** -$0.59 (2024), down from $2.01 (2023). **Strategic Overview:** - **Business Segments:** Property and Agriculture. - **Property Segment:** Focuses on land development and sales. - **Agriculture Segment:** Primarily coffee farming, milling, and sales. - **Key Projects:** Kaanapali 2020 Development Plan, Pioneer Mill Site sale, Puukolii Village development. **Future Outlook:** - **Development Plans:** Continued focus on Kaanapali 2020 Development Plan and other land development projects. - **Insurance Claims:** Ongoing claims related to Lahaina wildfire, with $6,243,000 in insurance proceeds recognized in 2024. - **Water Use Permits:** Pending applications with the State of Hawaii Commission on Water Resource Management (CWRM). **Risk Factors:** - **Natural Events:** Lahaina wildfire caused significant damage and disruptions. - **Regulatory Risks:** Pending water use permits and environmental testing for land sales. - **Economic Risks:** Inflation, interest rates, and global economic conditions may impact property values and sales. **Financial Condition:** - **Cash and Cash Equivalents:** $23,082,000 (2024), down from $26,260,000 (2023). - **Property, Net:** $62,992,000 (2024), up from $60,200,000 (2023). - **Liabilities:** $9,184,000 (2024), slightly down from $9,308,000 (2023). - **Shareholders' Equity:** $81,783,000 (2024), down from $83,711,000 (2023). **Market Position Changes:** - **Shareholders:** Approximately 611 holders of record of 1,792,613 Common Shares and 52,000 Class C Shares. - **No Public Trading Market:** Shares are not listed on a major exchange and are traded via the over-the-counter broker-dealer network. **Key Financial Ratios (Estimated):** - **Current Ratio:** Approximately 2.5 (2024), indicating liquidity to cover short-term obligations. - **Debt-to-Equity Ratio:** Approximately 0.11 (2024), suggesting a low level of financial leverage. - **Return on Equity:** Approximately -1.36% (2024), reflecting the net loss for the year.