DSNG’S First Quarter Profit Jumped 110%

JAKARTA, 28 APRIL 2022 – PT Dharma Satya Nusantara Tbk (“DSNG”, “the Company”) posted a Q1-2022 profit of Rp 209 billion, which jumped by 110% compared to last year, following higher CPO prices and better performance of the wood products segment.

The Company’s revenue reached Rp 1.64 trillion, slightly higher than the same period last year, where the contribution from the palm oil segment decreased from 83% to 75% due to the decline in sales volumes of CPO and PKO. The palm oil segment generated an 8% lower revenue of Rp 1.24 trillion YoY as CPO sales volume declined by 28% to 97 thousand tons, but offset by a 20% higher CPO ASP of Rp 10.6 million per ton.

Profitability-wise, we generated higher EBITDA and net profit margins in Q1-2022. DSNG recorded an EBITDA of Rp 477 billion with a margin of 29%, higher by 16% from Q1-2020. In addition, our net profit jumped by 110% to Rp 208.6 billion due to lower financing costs and forex loss. Meanwhile, our core profit in 1Q-2022 increased by 41% to Rp 215 billion against the same period last year of Rp 152 billion.

Total FFB processed in 1Q-2022 was lower by 30%, following lower FFB production by 15% and lower external purchase by 67%. Nevertheless, as OER improved from 22.38% to 23.62% in 1Q-2022, our CPO production reached 107 thousand tons, declined by 26%, with an FFA level above 3% because of evacuation challenges from high rainfall in East Kalimantan.

Our wood segment continued to show substantial growth in the production volume and average selling price for both panel and engineered flooring. Its revenue grew by 42% to Rp 405 billion, increasing its contribution from 17% to 25% of the consolidated revenue.

We recorded 10% and 30% sales volume increases for the panel and engineered flooring, respectively. In addition, the average selling prices also rose by 25% and 14% for the panel and engineered flooring, respectively. As a result, the wood product segment generated an EBITDA of Rp 67 billion, higher by 60%, with profit before tax increased by 318% to Rp 51 billion.

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 112.8 thousand hectares of planted area and 12 palm oil mills which process Fresh Fruit Bunches (FFB) into CPO with a total capacity of 615 tons per hour. As for wood products, DSNG runs two wood processing plants in Central Java that produce panels and engineered floorings.

FOR MORE INFORMATION

Paulina Suryanti
Corporate Secretary
Jl. Rawa Gelam V Kav. OR / 3B
Kawasan Industri Pulogadung (Pulogadung Industrial Estate)
Jakarta 13930, Indonesia
Email: corporate.communications@dsngroup.co.id