DSN Group Booked a Sharp Increase in Increase in Quarter I 2014 Net Income

JAKARTA , 30 APRIL 2014 – PT Dharma Satya Nusantara Tbk (DSNG) booked first quarter 2014 net profit of Rp 151 billion, up 464.7% over the same period last year of Rp 27 billion, due to increase in revenue from both palm oil and wood products.

In the first quarter of this year, the Company booked net sales of Rp 1,238 trillion, an increase of 54.9% over the same period in 2013 at Rp 799 billion. Higher net sales was primarily contributed by the palm oil business sales, which booked a significant increase of 83% to Rp 869 billion compared to the same period of 2013 which reached Rp 475 billion. Sales from wood products also increased by 13.9% to Rp 369 billion compared to the same period last year of Rp 324 billion.

In the first quarter of 2014, the Company recorded a gross profit of Rp 341 billion, up 78.7% compared to the same period last year. The Company`s operating profit increased significantly by 153.4% to Rp 205 billion compared to the same period last year at Rp 81 billion.

President Director of DSNG Djojo Boentoro said the increase was largely contributed by the palm oil business. CPO production volume in the first quarter of 2014 increased by 34.6% to 88,835 tonnes compared to the same period last year. Meanwhile the FFB production in the first quarter of 2014 reached 303,231 tonnes , up 16.7% compared to the same period last year.

“In the first quarter of this year, the Company’s operating and financial performance is quite encouraging. Both CPO production volume and selling prices have increased, driving the revenue growth in the first quarter of this year , ” said Djojo Boentoro .

Meanwhile , Vice President Director of DSNG Andrianto Oetomo said Company was able to increase EBITDA in the first quarter of 2013 by 105.0% to Rp 270 billion compared to the same period last year .