Quarter III 2022, DSNG Booked a Profit of Rp 898 Billion, Soaring 112% YoY

JAKARTA, OCTOBER 26, 2022 — PT Dharma Satya Nusantara Tbk (“the Company,” “DSNG”) today publishes its Consolidated Financial Statements for the period ended September 30, 2022.

The Company recorded a profit of Rp 898 billion for the third quarter of 2022, which soared by 112% compared to the same period last year. The increase in profit was mainly driven by the higher CPO average selling price and the solid performance of the wood products business throughout 2022.

In the first nine months of 2022, DSNG posted revenue of Rp 6.6 trillion, of which the palm oil segment contributed Rp 5.4 trillion or around 82% of total consolidated revenue. The revenue of the palm oil segment in the third quarter of 2022 grew by 32% against the same period last year.

A higher CPO average selling price by 28% than the previous year, to Rp 11 million per ton, combined with the positive growth of CPO sales volume by 3% YoY, has driven more revenue generation. The significantly higher sales volume during the third quarter of 2022 has been successfully closing the sales volume gap of -24% from the first semester of 2022.

The President Director of DSNG, Andrianto Oetomo, mentioned the wearing out of El Nino’s 24- month-lagged-effects on DSNG’s largest plantation area in East Kalimantan since June 2022.

“The FFB production during the third quarter of this year grew 26% against the second quarter, resulting in total FFB production for nine months of 2022 increased 6% YoY; whereas the FFB production of the first semester of 2022 still experienced negative growth of -8% YoY. Therefore, we expect the production pattern for 2022 will follow a 40:60 proportion, similar to our production pattern in 2018,” said Andrianto Oetomo, explaining the achievement of DSNG’s operational and financial performance throughout the third quarter of this year.

The higher FFB production and Oil Extraction Rate (OER) of 23% have resulted in more CPO production by 5% to 441 thousand tons compared to the third quarter of last year of 420 thousand tons.

DSNG also highlighted the consistently solid performance of the wood products business during the first nine months of this year. The revenue from this segment reached Rp 1.2 trillion, 24% higher compared to the third quarter of 2021, which was contributed by an increase in sales volume, both panel and engineered flooring products, as well as the increase in the average selling price of both products.

Panel sales volume was higher by 10% to 88 thousand m3 due to strong demand from Japan market. As a result, its average selling price rose 23% against the third quarter of 2021.

Meanwhile, the engineered flooring segment generated a sales volume of around 931,000 m2 for the third quarter of 2022, 10% higher compared to the same period last year following the increasing market demand from Canada and the United States, with a 6% higher average selling price compared to the previous period.

In the third quarter of 2022, DSNG recorded an EBITDA of Rp 2.1 trillion, which jumped by 61% compared to the same period last year, with the EBITDA margin also improving to 32% compared to the third quarter of 2021 of 26%.

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 675 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