Quarter III 2021, DSNG Profit Soared By 162%
JAKARTA, OCTOBER 29, 2021 – PT Dharma Satya Nusantara Tbk (“the Company”, “DSNG”) posted a profit for the third quarter of 2021 of Rp 424 billion, soaring by 162% compared to the same period last year. The increase in profit was mainly driven by higher CPO average selling price and improving business performance in the wood product segment.
Throughout the first nine months of this year, DSNG recorded revenue of Rp 5.1 trillion, 15% higher than the same period last year, where palm oil contributed around 81% of total revenue or Rp 4.1 trillion.
The revenue of the palm oil segment rose by 12% against the third quarter of last year even though CPO sales volume fell by 5 percent to 413 thousand tons, thanks to a 13% higher CPO average selling price of Rp 8.7 million per tonne against Rp 7.7 million per tonne last year.
The President Director of DSNG, Andrianto Oetomo, explained that the increasing demand for world edible oil during the second and third quarters, coupled with the energy crisis in several countries have contributed to the increase in CPO price in the third quarter of this year.
“CPO price is expected to continue rallying until the end of this year following the energy crisis in India and China, which push CPO exports. But on the other hand, CPO supply tends to decline, especially from Malaysia, due to the labor shortage issues,” said Andrianto in a company statement subjecting to the performance of DSNG for the third quarter of 2021.
Meanwhile, the performance of the wood product segment kept improving in line with the economic recovery of our primary markets, such as Japan and the United States.
The wood products segment contributed around Rp 956 billion, a significant increase of 35% compared to last year, driven by increases in both sales volume and the average selling price of panels and engineered flooring.
“We have seen an increasing demand from the United States and Canadian markets for our engineered flooring products, covering more than 60% of sales. As a result, the sales volume of engineered flooring products for 3Q-2021 increased by 28%, with ASP also 5% higher,” he said.
In addition, the economic recovery in Japan has also driven the increase in sales volume for panel products by 25% to 80 thousand m3, with an ASP of 2% higher.
In the third quarter of 2021, DSNG recorded an EBITDA growth of 37% to Rp 1.3 trillion compared to the third quarter of last year of Rp 947 billion. EBITDA margin also improved from 22% in the third quarter of last year to 26% this year.
Following a favorable financial result throughout the first nine months of 2021, DSNG is optimistic that the financial performance for the entire 2021 will be better than last year.
ABOUT PT DHARMA SATYA NUSANTARA Tbk
PT Dharma Satya Nusantara Tbk (DSN Group) was established on 29 September 1980 and engages in palm oil and wood products businesses. Currently, DSNG has 112.6 thousand hectares of planted area and 10 palm oil mills which process Fresh Fruit Bunches (FFB) into CPO with a total capacity of 570 tons per hour. As for wood products, DSNG runs two wood processing plants in Central Java that produce panels and engineered floorings.
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Paulina Suryanti
Corporate Secretary
Jl. Rawa Gelam V Kav. OR / 3B
Kawasan Industri Pulogadung (Pulogadung Industrial Estate)
Jakarta 13930, Indonesia