PT Dharma Satya Nusantara Posts Net Profit Of Rp 649.8 Billion In 2014
JAKARTA, FEBRUARY 18th, 2015 – PT Dharma Satya Nusantara Tbk (DSNG) posted a net profit of Rp 649.8 billion in 2014, an increase of 201.3% compared to the previous year’s Rp 215.7 billion. The increase was primarily driven by an increase in the Company’s earnings from the palm oil segment.
For the full year, the Company generated net sales of Rp 4.90 trillion, or 27.5% higher than sales in 2013. The palm oil segment is still the biggest contributor, at Rp 3.52 trillion or 72.0% of the total net sales for the year. The Company’s gross profit in 2014 increased by 43.6% to Rp 1.71 trillion, from Rp 1.19 trillion in 2013. As a result, the Company’s gross profit margin increased from 31.0% in 2013 to 34.9% in 2014.
The Company’s operating profit also increased by 63.7% to Rp 1.08 trillion, compared to the previous year’s level of Rp 656.9 billion, while the operating profit margin rose from 17.1% in 2013 to 22.0% last year. For 2014, earnings per share of the Company reached Rp 306.50, an increase of 201.3% compared with the previous year of Rp 101.82.
Djojo Boentoro, President Director of PT Dharma Satya Nusantara Tbk, said the Company was able to improve both financial and operational performance last year due to an increase in revenue from the palm oil sector. The Company’s CPO selling price for 2014 averaged Rp 8.27 million per ton, 17.4% above the average selling price of Rp 7.05 million per ton in 2013. Since the fourth quarter of last year, however, CPO prices have begun to weaken in a trend which carried into early 2015.
As of December 31, 2014, the Company’s total assets reached Rp 7.17 trillion, an increase of 21.2% compared to December 31, 2013 which reached Rp 5.92 trillion. Total equity of the Company was also up 36.6% from Rp 1.68 trillion as of December 31, 2013 to Rp 2.29 trillion as of December 31, 2014.
OPERATIONAL PERFORMANCE
DSN Group maintained strong operating performance for the twelve months of 2014. Total production of Fresh Fruit Bunches (FFB) grew to 1.38 million tons, an increase of 10.9% compared to the production of 1.24 million tons in 2013. Of the total FFB production in 2014, the Company’s nucleus FFB production accounted for 1.26 million tons, an increase of 9.1% compared to the previous year.
CPO production in 2014 also increased by 16.4%, to 390.9 thousand tons compared to 335.7 thousand tons in 2013. Palm Kernel Oil (PKO) production also increased by 35.0% from 13.5 thousand tons in 2013 to 18.2 thousand tons in 2014. For the full year, the Company maintained an Oil Extraction Rate (OER) of 23.9%.
As of December 31, 2014, the nucleus planted area covered 62,779 hectares, with an average age for nucleus of 7.1 years. Of the planted area, 48,038 hectares are mature.
In the wood products segment, the Company recorded net sales of Rp 1.37 trillion in 2014, a slight increase compared to Rp 1.36 trillion in the previous year. The segment saw a significant increase in the average selling price of the Company’s products in 2014, accompanied by a decline in sales volume, in line with the Company’s strategy to focus on higher value-added wood products .
For 2014, Panel product sales volume declined by 17.6% to 201.7 thousand m3, while the average selling price rose 10.1% to Rp 4.4 million per m3. Engineered door sales volume also fell slightly by 1.0% to 51.5 thousand units, with an increase in the average selling price of 17.0% to Rp 1.2 million per unit. In engineered flooring products, sales volume increased by 6.8% to 1.15 million m2, while the average selling price also increased by 19.4% to Rp 370 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.
CONTACT 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