DSNG Sales Grow, Dividend Set at 20% from 2013 Net Profit
Jakarta, May 8th 2014 – Today, PT Dharma Satya Nusantara, Tbk (DSNG) holds an Annual and Extraordinary Meeting of Shareholders (AGM & EGM) with numbers of main agendas. Amongst are the approval of annual reports and ratification of company’s financial Reports and approval of net profit usance at the end of financial year ending December 31st 2013.
In this occasion, management reveals that along the year of 2013, company records the growth rate of net sales in the amount of 12.6% to Rp. 3.48 trillion. Meanwhile, the palm oil segment contributes up to 64% revenue from the total of net sales, whilst another 36% comes from wood product segment.
“The growth rate in palm oil segment is due to the segment’s growth of net sales of 24.1 President Director, Djojo Boentoro explained during company’s AMG & EMG event at Gran Melia Hotel Jakarta – Thursday May 8th 2014.
The wood product segment records a net sales of IDR 1.36 trillion, 3.5% lower compared to previous year. Despite the decline in wood products sales value, the average selling price increased significantly in 2013 compared to previous year. This is due to the shitf in product mix towards higher value added products.
With the growth in sales, company records a gross profit of IDR 1.19 trillion, 23.8% higher compared to last year.The gross margin profit is 31% during 2013, higher than 2012 gross profit margin of 28.2%
Higher cost of goods sold has some impacts to Company’s net profit in 2013. The total comprehensive income for 2013 is IDR 216 billion, 14.6% lower compared to 2012. The decline in comprehensive income is also due to foreign exchange loss during 2013.
As of December 31, 2013, Company’s total asset is IDR 5.92 trillion, 15.2% higher compared to last year while total liabilities is IDR 4.24 trillion, 13.6% higher. Total equity increased by 19.4% to IDR 1.68 billion, mainly due to increase in paid up capital from new shares issuance during IPO in June 2013 and an increase in retained earnings in 2013.
Dividends
General Meeting of Shares approves the usance of net profit in the financial year of 2013 in the amount of Rp. 215,696,597,758,- as follow:
1. Distribution of cash dividend in the amount of Rp. 20,- per shares or equal to 20% from the total of company’s net profit
2. The amount of Rp. 10 billion or approximately 4.6% from the net profit for reserve in compliance with article 70 UU number 40 year 2007 on Limited Companies
3. The rest of net profit is appropriated as retained earnings to strengthen Company’s investment and working capital.
ABOUT DSN GROUP
DSN Group was established at September 29th 1980. DSN Group started its business in woods industry. In mid 1990s, Company diversified its operation and started land acquisition started the palm oil cultivation in 2001, and also commercialized productions from CPO and Palm Kernel Oil in 2002.
FOR MORE INFORMATION
Paulina Suryanti
Corporate Secretary
PT Dharma Satya Nusantara Tbk
Jl. Rawa Gelam V Kav. OR/3B
Kawasan Industri Pulogadung – Jakarta 13930, Indonesia