First Half Of 2021, DSNG Recorded Net Profit of Rp 213 Billion, Rose by 19%
JAKARTA, AUGUST 26, 2021 – PT Dharma Satya Nusantara Tbk (“the Company”, “DSNG”) booked a net profit of Rp 213 billion for the first semester of 2021, an increase of 19% against the first half of 2020, driven mainly by an increase in CPO average selling price and an improvement in the performance of its wood product business.
During the first six months of 2021, DSNG recorded a total revenue of Rp 3.3 trillion, 5% higher against the same period last year. The palm oil business segment contributed Rp 2.7 trillion or around 82% from total revenue.
Compared to last year, palm oil’s revenue increased by 2%, although CPO sales volume in this semester declined by 10% to 279 thousand tons because of lower Fresh Fruit Bunches (FFB) production at 1 million tons or lower by 2.1%, with a total FFB processed of 1.27 million tons, or 1.9% lower than the first semester of 2020.
During 4th quarter 2019 to 1st quarter 2020, the East Kalimantan region, where our largest plantation is located, was the worst hit region by El Nino and its lagging adverse impact has been inevitably still disturbing our FFB production during 2021.
In addition, the emergence of the La Nina event since the beginning of 2021 which brought an excessive rainfall that hampered the FFB harvest evacuation has affected the Oil Extraction Rate performance and Free Fatty Acid (FFA) levels and has consequently lower CPO production to 288 thousand tons during the first half of this year by 8% compared to the first semester of last year.
The President Director of DSNG, Andrianto Oetomo, said that the increase in CPO prices still drove the Company’s financial performance in the first half of this year. The average selling price of DSNG’s CPO during the first 6 months of this year reached Rp 8.4 million per ton, an 8% increase compared to the same period last year.
“In addition, our wood products business segment also generated a positive contribution this year, both from panels and engineered flooring, as the economy in the exporting countries begins to improve, particularly in the United States, Canada and Japan, despite the Covid-19 pandemic still continues,” said Andrianto Oetomo in the Company’s statement.
The revenue from wood product business segment in the first semester of 2021 were recorded at Rp 589 billion, an increase of 20% compared to the same period last year. The increase was driven by an improved sales volume of panel products by 9% to 52,000 m3, as well as engineered flooring sales volume by 30% higher to 524,200 m2.
In the first semester of 2021, DSNG recorded an operating profit of Rp 547 billion, an increase of 55% compared to the same period last year, with an operating profit margin of 17%, improved from a margin of 11% last year.
DSNG recorded EBITDA in the first semester of 2021 of Rp 809 billion, an increase of 17% compared to the previous year, with an EBITDA margin of 26%, better than last year margin of 22%.
In the second semester of this year, DSNG stock has been chosen amongst 100 stocks to be included in the KOMPAS100 Index for the period from August 1, 2021 to January 31, 2022. KOMPAS100 Index is a stock price index created by Indonesia Stock Exchange (IDX) in cooperation with the Kompas Daily.
Also, DSNG stock is now part of the Pefindo i-Grade Index for the period of July 2021 – November 2021. Pefindo i-Grade Index is a stock price index consists of 30 Listing Company in Indonesia Stock Exchange and receive Investment Grade Rating by PT Pemeringkat Efek Indonesia (Pefindo).
Lastly in relation to its ESG practices, DSNG stock has been included for the second period in the SRI-KEHATI Index for the period July 2021-November 2021.
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.
MORE INFORMATION
Paulina Suryanti
Corporate Secretary
PT Dharma Satya Nusantara Tbk
Jl. Rawa Gelam V Kav. OR/3B
Kawasan Industri Pulogadung
Jakarta 13930, Indonesia
Email: corporate.communications@dsngroup.co.id