Q1-2024, DSNG Booked a Profit of Rp 229 Billion
Jakarta, 30 April 2024 – PT Dharma Satya Nusantara Tbk (“the Company”, “DSNG”) booked a profit of Rp 229 billion in the Q1-2024, up 6.6% year-on-year (YoY), driven by increased sales in the palm oil ,wood product, and renewable energy segments.
Throughout the Q1-2024, DSNG achieved sales of Rp 2.23 trillion, up 7.9% YoY. The palm oil business segment contributed 85% of the total revenue of the Company or Rp 1.9 trillion, up 5.1% compared to palm oil sales amounting to Rp 1.8 trillion in the same period last year.
The increase in palm oil sales in Q1-2024 was driven by a 3.7% and 45.1% YoY higher in the sales volume of Crude Palm Oil (CPO) and Palm Kernel Oil (PKO) respectively, although CPO’s average selling price (ASP) in this period was slightly lower by 2% compared to the previous year.
DSNG’s President Director, Andrianto Oetomo, stated that the global market price for vegetable oils softened at the beginning of the year due to an increasing supply of vegetable oils and geopolitical factors in several countries
“The DSNG’s CPO ASP in Q1-2024 slightly decreased by around 1.9% YoY to Rp 11.74 million per ton compared to Rp 11.97 million per ton last year, following the weakening trend of all energy commodities, including vegetable oils,” explained Andrianto.
Andrianto also added that DSNG’s CPO production in Q1-2024 also decreased by 1.6% YoY due to fewer external FFB purchases. Nevertheless, DSNG still managed to maintain its bottom line with positive growth following better revenue from palm oil, wood products, and renewable energy (RE) segments. This year, the RE segment has contributed sales of approximately 2.5% or Rp 57 billion in sales from exporting palm kernel shells to power plants in Japan.
In addition, DSNG was also able to maintain its gross profit and operating profit gains of 17.2% and 30.8% YoY, respectively, besides recording EBITDA amounting to Rp 635 billion, up 21.6% YoY, following the normalized fertilizer price and a significant improvement in OER to 24.16%.
Meanwhile, the wood products segment contributed a revenue of Rp 269 billion, up 5.7% YoY, driven by a 30% increase in panel wood product sales volume, even though the ASP for both panel and engineered flooring decreased by 13.2% and 3.7% YoY, respectively.
DSNG financial performance in Q1-2024 reflects its solid position with total assets worth Rp 17 trillion, up 5.2% YoY, with liabilities of Rp 7.9 trillion and equity of Rp 9.2 trillion.
===End===
ABOUT PT DHARMA SATYA NUSANTARA TBK
PT Dharma Satya Nusantara Tbk (DSN Group) was established on 29 September 1980 and focused on palm oil, wood products, and renewable energy businesses. DSNG has 112.7 thousand hectares of planted area and 12 palm oil mills, which process Fresh Fruit Bunches (FFB) into CPO with a total capacity of 675 tons per hour. As for wood products, DSNG runs two wood processing plants in Central Java that produce panels and engineered floorings, with an installed capacity of 150,000 square meters per month for engineered floorings and 12,000 cubic meters per month for panel products. Meanwhile, the renewable energy business started in 2023 with sales from exporting palm kernel shells (PKS) as biomass feedstock for power plants in Japan.
FOR MORE INFORMATION
Paulina Suryanti
Corporate Secretary
PT Dharma Satya Nusantara Tbk
GRHA DSN
Jl. Pulo Ayang Kav OR.3, Kawasan Industri Pulogadung
Kelurahan Jatinegara, Kecamatan Cakung, Jakarta Timur 13930
Email: corporate.communications@dsngroup.co.id