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20240229_ANJT_Laporan Informasi dan Fakta Material_31582035_lamp2.pdf
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Page 1
29 FEBRUARY 2024
Table 1 : Production and Sales
2023 2022 Change
FFB Production (tonnes)
FFB from our estates 881,051 840,581 4.8%
Belitung Island 254,579 219,422 16.0%
North Sumatra I 142,406 155,876 -8.6%
North Sumatra II 161,080 168,520 -4.4%
West Kalimantan 192,550 177,813 8.3%
Southwest Papua* 120,445 112,356 7.2%
South Sumatra* 9,991 6,594 51.5%
FFB bought from third parties 503,811 538,483 -6.4%
Total FFB processed 1,374,871 1,372,470 0.2%
Photo: Corporate Communications FFB YIELD (tonnes per hectare)
Average yield 20.3 19.4 4.4%
Belitung Island 21.4 18.3 16.8%
North Sumatra I 21.3 22.8 -6.5%
2023 OPERATIONAL UPDATE North Sumatra II 20.8 21.7 -4.2%
West Kalimantan 21.6 19.9 8.4%
Southwest Papua* 16.3 15.3 6.3%
South Sumatra* 13.8 10.5 31.4%
CPO Production (tonnes)
PT Austindo Nusantara Jaya Tbk (“ANJT” or “the Company”) Total production 283,659 275,769 2.9%
announced its operational performance and financial results
Belitung Island 82,049 73,769 11.2%
for the year ending 31 December 2023.
North Sumatra I 57,519 62,183 -7.5%
North Sumatra II 50,077 55,119 -9.1%
The Company ended 2023 with a 4.8% increase in Fresh
West Kalimantan 63,929 60,795 5.2%
Fruit Bunches (“FFB”) production from 840,581 mt in 2022 to
Southwest Papua* 30,085 23,903 25.9%
881,051 mt in 2023. This increase in our FFB production is
Palm Kernel production 52,432 55,011 -4.7%
due to a higher FFB yield of 20.3 mt/ha in 2023, an increase
PKO production* 1,459 1,052 38.7%
of 4.4% from 19.4 mt/ha in 2022. The total mature area at our
Sales (tonnes)
nucleus plantations at the end of 2023 was 43,400 hectares, an
CPO Sales 288,941 275,320 4.9%
increase of 2.8% from 42,237 hectares in 2022. Our immature
Belitung Island 83,300 74,600 11.7%
area at the end of 2023 was 5,116 hectares and we expect FFB
North Sumatra I 58,442 61,986 -5.7%
production from this hectarage to gradually start from 2024.
North Sumatra II 52,419 53,882 -2.7%
West Kalimantan 63,291 60,800 4.1%
Our Belitung Island estate remained the main production
contributor, accounting for 28.9% of total FFB production Southwest Papua 31,490 24,053 30.9%
by producing 254,579 mt of FFB in 2023, an increase of PK Sales 52,581 54,996 -4.4%
16.0% compared to 219,422 mt in 2022 due to the higher PKO Sales 1,049 928 13.1%
productivity of the young mature palm trees in the replanted PRODUCTIVITY
areas. In addition, our newly mature Southwest Papua estate Extraction Rate - CPO (Mixed) 20.6% 20.1% 2.7%
contributed a total FFB production of 120,445 mt, 7.2% higher CPO Average Selling Price - USD 731 840 -12.9%
than the 2022 FFB production of 112,356 mt. This increase PK Average Selling Price - USD 358 559 -36.0%
aligned with a rising production trend from the young mature PKO Average Selling Price - USD 734 1,096 -33.1%
palm trees and improved road access and other infrastructure
Notes: *Southwest Papua and South Sumatera estates production for the year
to transport the FFB to the mill. 2022 includes the scout harvesting production.
COMPANY PROFILE SHARE INFORMATION SHAREHOLDERS STRUCTURE CONTACT US
PT Austindo Nusantara Jaya Tbk # shares 3,354.2 mn (as of 31 December 2023) % PT Austindo Nusantara Jaya Tbk.
(“ANJT”) is an Indonesian agribusiness # free float 3,354.2mn PT Austindo Kencana Jaya 40.85 Menara BTPN Lantai 40 Floor
based food company committed to
Listing date 8-5-2013 PT Memimpin Dengan Nurani 40.85 Jalan Dr. Ide Anak Agung Gde Agung
responsible development. The company
is primarily engaged in the production IPO Price Rp 1,200 George Santosa Tahija 4.74 Kav 5.5 – 5.6, Kawasan Mega Kuningan
of crude palm oil at its established and Highest Rp 965 Sjakon George Tahija 4.74 Jakarta 12950 - Indonesia
developing estates. ANJT also engages Lowest Rp 630 Yayasan Tahija 0.00 T: +62 21 29651777 | F: +62 21 29651788
in the production of sago starch and Close Rp 745 Public 8.83 E: investor.relations@anj-group.com
edamame. www.anj-group.com
Page 2
INVESTOR NEWSLETTER | 29 FEBRUARY 2024
Meanwhile, our North Sumatra I estate, which has been
engaged in a replanting program since 2018, produced a total
FINANCIAL HIGHLIGHTS
FFB of 142,406 mt, a decrease of 8.6% compared to the total
FFB production in 2022 of 155,876 mt. In 2023, we replanted
approximately 700 hectares area in this estate. Together Our Financial Performance Results
with the replanting progress in the Belitung Island estate of
Table 2: Consolidated Statements of Comprehensive Income
1,000 hectares during 2023, we have achieved a cumulative
replanted area of 10,917 hectares since we initiated this 2023 2022
program in 2015 and maintained our average oil palm age at
USD Rp. USD Rp.
13.0 years as of 31 December 2023. This demonstrates ANJ’s
Thousands Millions (1) Thousands Millions (1)
commitment to improving its yields further and enhancing
shareholder value in the medium to long term. Revenue 236,512 3,607,986 269,167 4,002,509 -12.1%
Our West Kalimantan estate recorded an increase in FFB Cost of revenue (204,953) (3,126,556) (215,295) (3,201,434) -4.8%
production of 8.3% to 192,550 mt in 2023 compared to 177,813 Gross profit 31,559 481,430 53,872 801,075 -41.4%
mt in 2022. In addition, the 724 ha newly mature area in our Total operating
South Sumatra estate contributed 9,991 mt of FFB production (12,440) (189,769) (14,595) (217,023) -14.8%
expenses , net
in 2023, an increase of 51.5% compared to 6,594 mt in 2022. The Operating profit 19,119 291,661 39,277 584,053 -51.3%
FFB production increases in both estates are due to the age Finance income 309 4,707 471 7,011 -34.6%
profile of their palm trees, which are now in prime maturity. Finance charges (9,860) (150,412) (5,241) (77,932) 88.1%
Meanwhile, our North Sumatra II estate experienced a drop Profit before tax 9,568 145,956 34,508 513,131 -72.3%
in FFB production of 4.4% to 161,080 mt from 168,520 mt in Income tax
(7,666) (116,946) (13,353) (198,552) -42.6%
expense
2022 due to floods that affected the harvesting process and
Profit for the
disrupted FFB supplies to the mill in 2023. Moreover, these 1,902 29,010 21,155 314,579 -91.0%
year
floods also affected the upkeep and fertilization activities. Other
Therefore, our palm trees could not absorb the requisite comprehensive 4,567 69,670 (15,046) (223,737) -130.4%
nutrition optimally. The Company will maintain its focus on (loss) income
the embankment piling project to mitigate the flood risk from Total
the nearby river. comprehensive 6,469 98,680 6,109 90,842 5.9%
income
Despite the stronger FFB production from our nucleus EBITDA 49,128 749,440 69,332 1,030,961 -29.1%
plantations, we purchased less third party FFB due to road EBITDA margin
20.8% 20.8% 25.8% 25.8% -19.4%
access restrictions in Q1 2023 at our North Sumatra I plantation (%)
1) The translation of US Dollar amounts into the Indonesian Rupiah amounts are
and fierce price competition from some newly established mill
included solely for the convenience of the readers and has been made using the average
operations that do not have related plantations (“independent
of the exchange rates of Rp 15,255 to USD 1 for 2023 and Rp 14,870 to USD 1 for 2022.
mills”). Nevertheless, we recorded a 2.9% YoY increase in
total CPO production of 283,659 mt in 2023. In total, we Revenue from Sales and Service Concessions
processed 1,374,871 mt of FFB in 2023, with an extraction The Company posted a total revenue of USD 236.5 million in
rate of 20.6%, a slight uptick from 20.1% in 2022. Meanwhile, 2023, a decrease of 12.1% compared to 2022 mainly due to the
our Palm Kernel (PK) production dipped to 52,432 mt in 2023 lower ASPs for CPO, PK and PKO as well as the decrease in
from 55,011 mt last year because the genetic characteristics PK sales volume. The palm oil segment contributed 98.6% of
of the newly planted oil palms produce more CPO but less PK. our total revenue or USD 233.1 million, a decrease of 12.1%
Our Palm Kernel Oil (PKO) production increased by 38.7% to compared to the USD 265.3 million achieved in 2022. Meanwhile,
1,459 mt in 2023 compared to 1,052 mt in 2022, in line with the our edamame business posted a positive performance in its
increase in FFB production from the Southwest Papua estate. sales revenue of USD 1.9 million in 2023, an increase of 12.2%
from the USD 1.7 million in 2022 due to the increase in sales
In 2023, the Company expanded its CPO sales volume by 4.9% volume and higher ASPs for fresh edamame and mukimame.
to 288,941 mt from 275,320 mt last year, which aligns with
higher CPO production in 2023. In addition, PKO sales volume Our sago segment contributed USD 883.7 thousand to our total
climbed 13.1% to 1,049 mt from 928 mt last year. Meanwhile, revenue in 2023, a drop of 44.2% from the USD 1.6 million in
our sales volume from PK in 2023 dropped by 4.4%, in line 2022 due to the unfavorable sales volume variance along with
with a lower PK production in 2023. a lower sago starch production volume compared to 2022. In
addition, our renewable energy segment contributed USD 576.2
The CPO price experienced a downward trend in the first thousand in 2023, slightly lower than the USD 579.8 thousand
half of 2023 and bottomed at nearly USD 700 per mt in May achieved in 2022 due to the effect of currency translation from
2023. Global concern on the impact of El Nino in mid 2023 Rupiah to USD as our revenue from renewable energy is in
helped the CPO price to recover in the second half of 2023 and Rupiah currency. Our biogas plant in Belitung sold a total of
thereafter it fluctuated in a range of USD 750 – 825 per mt. 10.2 million kWh electricity in 2023, 3.2% higher than electricity
As a result, the Company recorded an Average Selling Price sales of 9.1 million kWh in 2022.
(ASP) for its CPO of USD 731 per mt in 2023, 12.9% lower than
the 2022 ASP of USD 840 per mt. Meanwhile, the ASP for PK in
2023 was USD 358 per mt, 36.0% lower than the ASP in 2022 of
USD 559 per mt. The ASP for PKO was USD 734 per mt, 33.1%
lower than its ASP in 2022 of USD 1,096 per mt.
Page 3
INVESTOR NEWSLETTER | 29 FEBRUARY 2024
Operating (Expenses) Income and Financial Charges Our Assets and Liabilities Position
The Company recorded an operating expense (net of operating Table 3: Consolidated Statements of Financial Position
income) of USD 12.4 million, a decrease of 14.8% from USD
14.6 million in 2022 mainly due to a foreign exchange gain 31 December 2023 31 December 2022
USD Rp. USD Rp. Change
of USD 0.2 million compared to a net loss of USD 2.6 million
Thousands Millions(1) Thousands Millions(1)
in 2022 as a result of the appreciation of the Rupiah against
Current
the US Dollar from Rp 15,731/USD 1 at the end of 2022 to Rp assets
54,978 847,545 59,148 930,457 -7.0%
15,416/USD 1 at the end of 2023. Non-current
559,094 8,618,993 543,443 8,548,894 2.9%
assets
Our financial charges, which represent interest expenses Total Assets 614,072 9,466,538 602,590 9,479,351 1.9%
on our loans, increased by 88.1% to USD 9.9 million in 2023 Current
52,762 813,374 40,470 636,635 30.4%
from interest expenses of USD 5.2 million in 2022 due to the liabilities
increase in interest expenses for both USD and IDR loans Non-current
135,985 2,096,343 138,009 2,171,023 -1.5%
liabilities
following rate hikes in 2023 and additional interest expense
Total
recognition from our Southwest Papua estate. All of our Liabilities
188,747 2,909,717 178,479 2,807,658 5.8%
planted area in the Southwest Papua estate was classified as Equity
mature plantation at the beginning of 2023 and therefore, we attributable
can no longer capitalize the interest expense from this estate. to the
423,896 6,534,785 422,006 6,638,574 0.4%
owners
of the
Net Profit Company
The Company recorded a net profit of USD 1.9 million in
2023 compared to USD 21.2 million in 2022. This resulted in Total Equity 425,326 6,556,821 424,111 6,671,693 0.3%
a net profit margin (NPM) ratio of 0.8% in 2023, a decrease
from 7.9% in 2022. This decrease was due to the lower ASPs, 1) The translation of US Dollar amounts into the Indonesian Rupiah amounts are
included solely for the convenience of the readers and has been made using the Bank
combined with the higher depreciation and interest expenses. Indonesia middle rate as of 31 December 2023 of Rp 15,416 to USD 1 and December
In addition, estate operating costs rose at our newly mature 2022 of Rp 15,731 to USD 1.
area in the Southwest Papua estate and from the replanting
areas in the North Sumatra I and Belitung Island estates.
Meanwhile, our production from these newly mature areas As of 31 December 2023, total assets increased by 1.9% to USD
will only reach optimum levels over the next two to three 614.1 million, mainly attributable to the increase in property,
years. plant and equipment due to the capital expenditure and the
impact of the Rupiah appreciation in 2023.
The Company booked EBITDA for 2023 of USD 49.1 million, a
decrease of 29.1% compared to EBITDA of USD 69.3 million in Total liabilities increased by 5.8% from USD 178.5 million to USD
2022. Thus, our EBITDA margin decreased from 25.8% in 2022 188.7 million, primarily driven by the increase in short-term
to 20.8% in 2023. bank loans.
Total Comprehensive Income The Company was still able to maintain its prudent debt to equity
The foreign exchange rate of Rupiah by the end of December and debt to asset ratios of 0.44 and 0.31, respectively as at 31
2023 had appreciated to Rp 15,416 against the US Dollar from December 2023.
Rp 15,731 at the end of 2022. As a result, the net assets of
some of the Company’s subsidiaries (those which maintain Financing Facilities
their bookkeeping records in Rupiah) have appreciated As of 31 December 2023, ANJT and its subsidiaries collectively
by USD 4.2 million when their financial statements are maintained bank loan facilities amounting to the equivalent of
translated from Rupiah to US Dollar, compared to a net loss USD 198.0 million, comprising short-term loan facilities of USD
of USD 19.6 million in 2022. The Company reported a total 67.0 million and long-term loan facilities of USD 131.0 million.
comprehensive income of USD 6.5 million in 2023 compared
to a comprehensive income of USD 6.1 million in 2022. The outstanding balance of the Company’s bank loans by the
end of December 2023 was USD 151.2 million, an increase of
USD 16.6 million from the USD 134.6 million as at the end of
December 2022. This increase was mainly due to additional
short-term bank loans of USD 18.7 million in 2023, a long-term
loan drawdown of USD 1.4 million, offset by loan repayments
of USD 4.6 million, and foreign exchange loss on our loans of
USD 1.1 million.
Page 4
INVESTOR NEWSLETTER | 29 FEBRUARY 2024
KEY OPERATIONAL TARGET FOR 2024 The Company was also recognized by the following global
organizations for our Environmental, Social and Governance
(ESG) performance in 2023:
The Company projects that FFB production will increase to
1. SPOTT, a transparency assessment platform assessed
933,602 tons in 2024, an increase of 6.0% compared to 2023’s
us with a score of 93.3%, an improvement of 2.3 points
FFB production. Increased internal FFB production and a
compared to our previous rating. We ranked in the first
larger volume of external FFB purchases are expected to boost
place among Indonesian assessed companies and in the
our CPO production by 14.2% to 324,043 tons this year.
5th rank of companies assessed globally.
2. ASEAN Corporate Governance Scorecard (ACGS), based
We have budgeted capital expenditures totaling USD 36.8
on the International Good Corporate Governance (GCG)
million in 2024 to ensure that our actual production can be
standards. Our total score of GCG practices according to
achieved as targeted. We have allocated most of this capital
ACGS was 100.27, an improvement of 0.53 points compared
expenditure to fund several programs that support our
to the previous assessment. Overall the results of our
productivity improvement. Our capital expenditure work plans
GCG implementation assessment place the Company
for 2024 include the replanting program in Belitung Island
in a “Leadership” category in Corporate Governance or
and North Sumatra I estates, land compensation in our South
Level 5 (>100), meaning that the Company is in the highest
Sumatra estate, road laterization, employee housing and mill
category in corporate governance practices.
power plant in our Southwest Papua estate, river embankments
piling project in our North Sumatra II estate, and a composting
facility in North Sumatra I. We believe such programs will
Key Performance (Quarterly)
improve our productivity in the coming years.
Graph 1: CPO Sales Volume and Average Selling Price Each Quarter
OTHER CORPORATE UPDATES 90 .0
81.0
78.1 77.5 77.7
74.7 77.0 76.1
1, 400
73.5
80 .0
70.3 71.5 71.4
70 .0
60.4 60.1 60.1 58.1
Awards and Recognitions
1, 200
60 .0
56.2
The Company has maintained its full commitment to its 50 .0
1,069
1,016
1, 000
sustainability programs across all its operations and was 40 .0
pleased to receive the following prestigious recognitions: 30 .0
753 776 759 741 731
80 0
20 .0
641
1. “Platinum Rank” in Asia Sustainability Reporting Rating
60 0
10 .0
(ASRRAT) Awards 2023 held by National Centre for - 40 0
Corporate Reporting (NCCR), Q1 Q2
2022
Q3 Q4 Q1 Q2
2023
Q3 Q4
2. "3rd Winner" in the Annual Report Award (ARA) 2023 for
Publicly Listed Entities in Non-Financial Sector Category
held by the National Committee on Corporate Governance
CPO Production ('000 tonnes) CPO Sales Volume ('000 tonnes) CPO Average Selling Price (USD/tonnes)
(Komite Nasional Kebijakan Governance, or “KNKG”),
3. "Leadership A” in ESG Disclosure Transparency Awards
2023 held by Investor Trust & Bumi Global Karbon (BGK) Graph 2: Net Profit and EBITDA Growth
Foundation,
60 ,00 0 35 .0%
49,128
4. “Gold PROPER” from Ministry of Environment and
30 .0%
50 ,00 0
Forestry awarded to our subsidiaries, PT Sahabat Mewah 36,772
25 .0%
20.8%
dan Makmur (SMM) for the fourth consecutive year and
40 ,00 0
20.8% 20 .0%
PT Austindo Nusantara Jaya Agri (ANJA) for the third 15.7%
30 ,00 0
15 .0%
13.0%
consecutive year. In addition, PT Austindo Nusantara Jaya 20 ,00 0
17,995 10 .0%
Agri Siais (ANJAS) and PT Kayung Agro Lestari (KAL) 5. 0%
6,597
secured the “Green PROPER” for the second time. At
10 ,00 0
0.0% 0.8%
1,902
0. 0%
80
this event, our CEO, Lucas Kurniawan, was also awarded -
-4.3% -5.0%
a “Green Leadership Utama” for his oustanding role (10,0 00)
(3,914) -7.7% (4,993) -10.0 %
in leading, formulating and securing the sustainability 3M 6M 9M 12M
2023
commitments in our business. Net Profit (Loss) (thousand USD) EBITDA (thousand USD) Net Profit Margin (%) EBITDA Margin (%)
Disclaimer: This document has been prepared by PT Austindo Nusantara Jaya Tbk. (“ANJ” or the “Company”) for informational purposes only. Certain statements herein may constitute
“forward-looking statements”, including statements regarding the Company’s expectations and projections for future operating performance and business prospects. Such forward-looking
statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future.
Such forward-looking statements speak only as of the date on which they are made. Accordingly, the Company expressly disclaims any obligation to update or revise any forward-looking
statements contained herein to reflect any change in the Company’s expectations with regard to new information, future events or other circumstances. The Company does not make any
representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved and such forward-looking statements represent, in each case, only
one of many possible scenarios and should not be viewed as the most likely or standard scenario. By reviewing this document, you acknowledge that you will be solely responsible for your
own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential
future performance of the business of the Company
Names mentioned 12 people and organisations named in the text · linked when the evidence is strong
unresolved
person
Dr. Ide Anak Agung Gde Agung
p.1
unresolved
org
Ministry of Environment
p.4
unresolved
org
PT Sahabat Mewah
p.4
unresolved
org
PT Austindo Nusantara Jaya Agri
p.4
unresolved
org
PT Kayung Agro Lestari
p.4
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