DSN Group’s Net Profit Rises 323% In The First Nine Months of 2014

JAKARTA, NOVEMBER 3, 2014 – PT Dharma Satya Nusantara Tbk (DSN Group) recorded a net profit of Rp 521.5 billion through the third quarter of 2014, 323% higher than the Rp 123.3 billion reported in the same period last year.

DSN Group booked net revenue  of Rp 3.73 trillion during the first nine months of the year, for an increase of 39.2% compared to the same period last year. The palm oil segment remains the largest contributor to Group revenue, accounting for 72.7% or Rp 2.71 trillion.

During the first nine months of this year, the Company’s average CPO selling price reached Rp 8.52 million per ton, significantly higher than the average selling price in the first nine months of 2013 at Rp 6.67 million per ton.

The Company’s gross profit margin also improved from 27.6% through the third quarter of 2013 to 33.7% in 2014. As a result, gross profit increased by 70% from Rp 738.9 billion to Rp 1.26 trillion by September 2014.

Operating income also increased, by 111.9%, to Rp 829.1 billion compared to last year’s reported Rp391.3 billion, with operating margins rising from 14.6% to 22.3% for the first nine months. For the period, the Company’s earnings per share reached Rp 244.14, an increase of 324.6% compared to the same period last year of Rp 57.5.

Djojo Boentoro, President Director of PT Dharma Satya Nusantara Tbk, said the Company continued to demonstrate ability to improve operational and financial performance, proven by the increase of revenue from palm oil industry.

As of the end of September 2014, the Company’s total assets reached Rp 6.78 trillion, an increase of 14.5% compared to the December 31, 2013 position of Rp 5.92 trillion. The total equity of the Company also rose by 28.8% from Rp 1.68 trillion as of December 31, 2013 to Rp 2.16 trillion as of Sept. 30, 2014.

OPERATIONAL PERFORMANCE

DSN Group has continued to demonstrated strong operating performance In the first nine months of the year. The Company produced 920.1 thousand tons of Fresh Fruit Bunches (FFB) during the first nine months of this year, an 11.4% increase compared to production of 826.1 million tons of FFB over the same period last year.

CPO production rose by 24.1% compared to last year, from 232.7 thousand tons to 288.7 thousand tons during the first nine months. Production of Palm Kernel Oil (PKO) also increased to 12,841 tons from 8,636 ton in the previous year. The Company was able to maintain Oil Extraction Rate (OER) at the level of 24% over the first nine months of this year.

As of 30 September 2014, our nucleus planted area has reached 61,469 hectares, of which 48,038 hectares were mature. The average age across all of the Company’s estates is 7.4 years. 

In the wood processing industry, the Company recorded a net income of Rp 1.02 trillion during the first nine months of this year, in line with the same period last year of Rp 1.03 trillion.  Despite a decrease in sales volume, the average selling price of our wood products has increased due to the Company’s focus on higher value-added products.

The sales volume of panel products decreased 23.2% to 149.9 thousand m3, while the average price rose 12.2% to Rp 4.3 million per m3. Engineered door sales volume also dropped 6.8% to 37.8 thousand units, with an average price increase of 17.1% to Rp 1.2 million per unit. As for engineered flooring products, sales volume increased by 11% to 878.7 thousand m2 and an average selling price increased by 20.9% to Rp 364 thousand per m2.

ABOUT PT DHARMA SATYA NUSANTARA Tbk

 PT Dharma Satya Nusantara Tbk is a company engaged in the palm oil industry and wood processing industry. The Company was established on 29 September 1980.  The Company initially engaged in the timber industry. In the mid-1990s, the Company diversified its business into plantations and the palm oil industry in East Kalimantan. On June 14, 2013, the Company listed its shares on the Indonesia Stock Exchange, with ticker code DSNG.


FOR MORE INFORMATION

Paulina Suryanti
Corporate Secretary
PT Dharma Satya Nusantara Tbk
Jl. Rawa Gelam V Kav. OR / 3B, Pulogadung Industrial Estate
Jakarta 13930, Indonesia
Phone: + 62-21-4618135. Fax: + 62-21-46834865
Email: corporate.communications@dsngroup.co.id