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20240228_DSNG_Laporan Informasi dan Fakta Material_31581738_lamp3.pdf
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PRESS RELEASE
PT DHARMA SATYA NUSANTARA Tbk
DSNG BOOKED RP 842 BILLION PROFIT IN 2023
Jakarta, 29 February 2024 – PT Dharma Satya Nusantara Tbk ("the Company," "DSNG") booked
a profit of Rp 842 billion for the fiscal year 2023. This figure was supported by the Company's
sales amounting to Rp 9.5 trillion, where the palm oil business segment remained the main
contributor to the Company's revenue at 88%, or Rp 8.4 trillion, up 3% year-on-year (YoY)
compared to the previous year's Rp 8.1 trillion.
Bottom line-wise, the Company's profit was corrected by Rp 365 billion or 30% YoY, which is
lower than the previous year's profit of Rp 1.2 trillion, following the increase in the cost of
revenue due to rising fertilizer prices for the palm oil segment and a lower sales volume and
average selling prices (ASP) for wood products. As a result, the Company recorded an EBITDA of
Rp 2.4 trillion for the fiscal year 2023.
"In 2023, the cost of revenue increased by approximately Rp 455 billion, or a 7% increase
compared to 2022, driven mainly by significantly higher fertilizer prices. As a result, the
Company's profit was corrected substantially despite an increase in sales volume and the CPO
ASP by 4% and 1.9% YoY, respectively," explained Andrianto Oetomo, President Director of DSNG.
For the wood products segment, the international market slowdown experienced since late 2022
remained the Company's most significant challenge throughout 2023. The weak demand from
our export destination countries, such as the United States, Canada, Europe, and Japan,
continued throughout 2023 following a prolonged environment with higher-for-longer interest
rates, adversely affecting the property market.
The wood products segment contributed 12% to the Company's revenue, attributing to Rp 1.1
trillion. This figure represents a 29% YoY decrease from the previous year's Rp 1.5 trillion. Sales
volumes of panel and flooring products decreased by 14% and 34% YoY, respectively, although
quarterly sales volumes throughout 2023 increased from quarter to quarter. Furthermore, the
ASP of panel products decreased by 17.5% YoY, while the ASP of flooring products increased by
1.3% YoY.
PT Dharma Satya Nusantara Tbk Tel. +62 21 4618 135
Sapta Mulia Centre Fax. +62 21 4606 942
Jl. Rrawa Gelam V Kav. OR/#B
Kawasan Industri Pulogadung
Jakarta 13930
Indonesia www.dsn.co.id
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"With the challenges faced by the wood product market last year, the Company strives to
maintain positive financial performance. DSNG has the opportunity to capture the market left by
industry players who temporarily halted production last year," added Andrianto.
The positive financial performance of DSNG is also accompanied by an increase in the Company's
assets by 5% YoY, amounting to Rp 16 trillion from the previous year's Rp 15 trillion. This increase
is driven by the growth of fixed assets, such as the completion of the second phase of the Bio-
CNG facility and the addition of 10 additional CPO storage tanks with a total capacity of 29
thousand tons. On the other hand, liabilities increased by 1.3% YoY, amounting to Rp 7 trillion,
and equity increased by 9% YoY, attributing to Rp 9 trillion, indicating that the Company's healthy
financial position still drives asset growth.
Various domestic and international parties have appreciated DSNG's positive performance in
2023. Some of the awards received include The Region's Top 200 Small and Middle Companies
by Forbes Asia Best Under a Billion Company, Winner of the Mid Cap Consumer Primary Sector
category in the Best Stocks Award 2024, Top 50 Mid Capitalization Public Listed Company by the
Indonesia Institute for Corporate Directorship (IICD), and the Disclosure Transparency Award
with an A rating for the sustainability initiatives implemented by the Company.
===End===
ABOUT PT DHARMA SATYA NUSANTARA TBK
PT Dharma Satya Nusantara Tbk (DSN Group) was established on 29 September 1980 and focused
on palm oil and wood products businesses. DSNG has 112.7 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, with an installed capacity of 150,000 square
meters per month for engineered floorings and 12,000 cubic meters per month for panel
products.
PT Dharma Satya Nusantara Tbk Tel. +62 21 4618 135
Sapta Mulia Centre Fax. +62 21 4606 942
Jl. Rrawa Gelam V Kav. OR/#B
Kawasan Industri Pulogadung
Jakarta 13930
Indonesia www.dsn.co.id
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FOR 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
PT Dharma Satya Nusantara Tbk Tel. +62 21 4618 135
Sapta Mulia Centre Fax. +62 21 4606 942
Jl. Rrawa Gelam V Kav. OR/#B
Kawasan Industri Pulogadung
Jakarta 13930
Indonesia www.dsn.co.id
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