PT Dharma Satya Nusantara Tbk Announces First Half 2014 Results. Net Profit Growth of 220% to Rp 367 billion

JAKARTA, 24 JULY 2014 – PT Dharma Satya Nusantara Tbk (DSNG) booked  a first half net profit of Rp 367.4 billion, or an increase of 219.6% over the same period last year.  The increase was driven by significant growth in the Company’s net sales to Rp 2.56 trillion during the first six months of this year, or an increase of 50.8% compared to 2013.

For the first half of the year, the Company booked a gross profit of Rp 846.1 billion, or an increase of  77.2% from 2013, while gross margins expanded to 33.0% from 28.1% the previous year. Operating profit also rose by 118.9% from Rp 259.7 billion in the first half last year to Rp 568.3 billion in the first six months of 2014.  Operating margins rose to 22.2% from 15.3% in 2013.

Djojo Boentoro, President Director of PT Dharma Satya Nusantara Tbk, said the increase in the Company’s net profit was driven by gains in both CPO production and the CPO Average Selling Price in the first six months. During this period, the Company’s CPO production rose by 30.2% over the same period last year.  The CPO’s average selling price also improved, from Rp 6.47 million per ton in 2013 to Rp 8.78 million per ton this semester.

Total comprehensive income  attributable  to owners of the Company reached Rp 362.6 billion, an increase of 232.8% compared to the first six months of last year of Rp 109.0 billion, while earnings per share improved to Rp 171.05, compared to Rp 58.34 in the first half of last year.

As of June 30, 2014, the Company’s total assets reached Rp 6.67 trillion, an increase of 12.6% compared to Rp 5.92 trillion at the end of 2013.  The Company’s total equity through June 30, 2014 reached Rp 2.00 trillion, an increased of 19.4% from the Rp 1.68 trillion recorded at the end of 2013.

OPERATIONAL PERFORMANCE

The Company also reported strong operational performance in the first half of 2014.  Total Fresh Fruit Bunch (FFB) production from our nucleus estates reached 600.4 thousand tons, or an increase of 15.5% compared to the first six months of 2013.  CPO production rose by 30.2% from 145.4 thousand tons in the first half of last year to 189.4 thousand tons this year, while CPO sales volume kept pace, also rising by 30.6% from 147.7 thousand tons in the first half of last year to 192.8 thousand tons in the first half of this year. The Company was able to maintain the Oil Extraction Rate (OER)  at the level of 23.8% throughout the first half of this year.

In six months, the Company achieved a new planting of 3,499 hectares, consisting of  2,128 hectares of nucleus and 1,370 hectares of plasma. As of June 30, 2014, the total planted area reached 74,027 hectares, with an average age of 6.7 years.

As for wood product segment, in the first half of this year, the Company recorded net sales of Rp 737 billion, relatively stable compared to the same period last year with Rp 631.1 billion. Sales volume of wood panel products and engineered doors, declined by 15.2% and 10.9% respectively, in the first half of this year .  In the same period, however, the average selling price for wood panels increased by 17.9% compared to the first half of last year, while the average selling price of engineered doors also increased by 22.2%.

Sales volume of engineered flooring during the first half of this year rose by 7.9%, with the average selling price also gaining by 24.2%. The increase in the average selling price of wood products is due to the Company’s strategy to focus on higher value-added products.

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