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20231031_ANJT_Laporan Informasi dan Fakta Material_31483694_lamp3.pdf
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Page 1
31 OCTOBER 2023
Table 1 : Production and Sales
9M2023 9M2022 Change
FFB Production (tonnes)
FFB from our estates 654,997 619,311 5.8%
Belitung Island 185,698 155,103 19.7%
North Sumatra I 97,912 105,593 -7.3%
North Sumatra II 123,716 134,417 -8.0%
West Kalimantan 149,093 138,739 7.5%
Southwest Papua* 91,228 80,706 13.0%
South Sumatra* 7,350 4,753 54.6%
FFB bought from third parties 380,133 398,235 -4.5%
Total FFB processed 1,027,780 1,012,793 1.5%
FFB YIELD (tonnes per hectare)
Photo: Corporate Communications Average yield 15.1 14.3 5.8%
Belitung Island 15.5 12.8 21.0%
North Sumatra I 14.7 14.9 -1.7%
North Sumatra II 16.0 17.3 -7.7%
9M2023 OPERATIONAL UPDATE West Kalimantan 16.7 15.5 7.7%
Southwest Papua* 12.3 11.2 10.0%
South Sumatra* 10.2 7.7 31.2%
CPO Production (tonnes)
Total production 212,221 204,220 3.9%
PT Austindo Nusantara Jaya Tbk (“ANJT” or “the Company”)
Belitung Island 61,075 53,436 14.3%
announced its operational performance and financial results for
North Sumatra I 39,511 43,138 -8.4%
the nine-month period ended 30 September 2023 (9M2023).
North Sumatra II 39,201 43,503 -9.9%
West Kalimantan 49,579 46,911 5.7%
The Company recorded an increase in Fresh Fruit Bunches (FFB)
Southwest Papua* 22,855 17,232 32.6%
production of 5.8% in 9M2023 to 654,997 mt from 619,311 mt in
Palm Kernel production 38,929 40,720 -4.4%
the same period last year. On a quarter to quarter basis (Q-on-Q),
PKO production* 1,084 758 43.0%
the Company recorded an increase in FFB production of 6.6% in
Sales (tonnes)
the third quarter 2023 (Q3 2023) to 240,077 mt from 225,258 mt
CPO Sales 212,816 197,216 7.9%
in the second quarter 2023 (Q2 2023).
Belitung Island 62,500 53,400 17.0%
North Sumatra I 40,814 44,652 -8.6%
In 9M2023, our young mature Southwest Papua estate
North Sumatra II 40,919 41,768 -2.0%
contributed a total FFB production of 91,228 mt, 13.0% higher
than the 9M2022 FFB production of 80,706 mt. This increase West Kalimantan 47,084 42,800 10.0%
aligns with the production increase trend from the young Southwest Papua 21,499 14,596 47.3%
mature palm trees in this estate and improved road access PK sales 39,186 39,976 -2.0%
and other infrastructure to transport the FFB to the mill. As PKO Sales 1,049 428 145.1%
of 30 September 2023, the Company has progressed with its PRODUCTIVITY
commitment to plasma development by allocating additional Extraction Rate - CPO (Mixed) 20.7% 20.2% 2.3%
716 Ha, resulting in a total of 1,618 Ha from its nucleus in the CPO Average Selling Price - USD 741 878 -15.6%
Southwest Papua estate to the plasma cooperatives. In addition, PK Average Selling Price - USD 364 630 -42.2%
higher productivity from the young mature palm trees from PKO Average Selling Price - USD 741 1,509 -50.9%
the replanting area in our Belitung Island estate resulted in an Notes:
increase in in that estate's FFB production of 19.7% to 185,698 *Southwest Papua and South Sumatera estates production for the year 2022
includes the scout harvesting production.
during 9M2023 compared to 155,103 mt in the same period last
COMPANY PROFILE SHARE INFORMATION SHAREHOLDERS STRUCTURE CONTACT US
PT Austindo Nusantara Jaya Tbk # shares 3,354.2 mn (as of 30 September 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
developing estates. ANJT also engages Lowest Rp 755 Yayasan Tahija 0.00 T: +62 21 29651777 | F: +62 21 29651788
in the production of sago starch and Close Rp 780 Public 8.83 E: investor.relations@anj-group.com
edamame. www.anj-group.com
Page 2
INVESTOR NEWSLETTER | 31 OCTOBER 2023
year. Meanwhile, our North Sumatera I estate, which has been
engaged in a replanting program since 2018, produced a total
FINANCIAL HIGHLIGHTS
FFB of 97,912 mt, a decrease of 7.3% compared to the total FFB
production in 9M2022 of 105,593 mt.
Our West Kalimantan estate recorded an increase in FFB Our Financial Performance Results
production of 7.5% to 149,093 mt in 9M2023 compared to 138,739 Table 2: Consolidated Statements of Comprehensive Income
mt in 9M2022. In addition, the 724 ha newly mature area in our
South Sumatra estate contributed 7,350 mt of FFB production in 9M2023 9M2022
9M2023, which is an increase of 54.6% compared to 4,753 mt in "USD "Rp. "USD "Rp. Change
9M2022. The FFB production increases in both estates are due Thousands" Millions (1)" Thousands" Millions (1)"
to the age profile of their palm trees, which are now in prime
maturity. Meanwhile, our North Sumatra II estate experienced Revenue 176,659 2,671,258 201,869 2,951,520 -12.5%
a drop in FFB production of 8.0% to 123,716 mt from 134,417 Cost of revenue (154,068) (2,329,662) (155,504) (2,273,617) -0.9%
mt in 9M2022 due to the impact of floods that disrupted FFB Gross profit 22,591 341,596 46,365 677,903 -51.3%
supplies to the mill and affected harvesting in the plantation at Total operating
(8,377) (126,672) (10,806) (157,989) -22.5%
the beginning of 2023. expenses, net
Operating (loss)
14,214 214,924 35,559 519,914 -60.0%
profit
We expect that we can maintain a similar level of productivity to
Finance income 211 3,187 395 5,771 -46.6%
our Q3 2023 FFB production in the last quarter of 2023. Looking
Finance charges (7,431) (112,366) (3,784) (55,331) 96.4%
ahead, we anticipate this positive trend to continue and expect (Loss) Profit
a new milestone in FFB production to be reached in 2025, 6,993 105,745 32,170 470,354 -78.3%
before tax
supported by the completion of the road lateralization project Income tax
(6,913) (104,531) (11,210) (163,897) -38.3%
in the Southwest Papua estate and higher productivity from the expense
replanting at the North Sumatra I and Belitung Island estates. (Loss) Profit for
80 1,213 20,960 306,457 -99.6%
the period
In 9M2023, we processed a total of 1,027,780 mt of FFB in our Other
mills to produce 212,221 mt of CPO, reflecting an extraction rate comprehensive 2,923 44,204 (13,363) (195,381) -121.9%
(loss) income
of 20.7%. In line with the FFB production, our CPO production
Total
increased by 3.9% in 9M2023 compared to 204,220 mt in 9M2022.
comprehensive 3,004 45,417 7,597 111,076 -60.5%
Meanwhile, our Palm Kernel (PK) production decreased by 4.4% income
to 38,929 mt in 9M2023 compared to 40,720 mt in 9M2022. EBITDA 36,781 556,026 57,866 846,059 -36.5%
However, our Palm Kernel Oil (PKO) production increased by EBITDA margin
20.8% 20.8% 28.7% 28.7% -27.4%
43.0% to 1,084 mt in 9M2023 compared to 758 mt in the same (%)
period last year. 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 average
The Company reported an increase in CPO sales volume of 7.9% of the exchange rates of Rp 15,121 to USD 1 for 9M2023 and Rp 14,621 to USD 1 for
to 212,816 mt in 9M2023 compared to 197,216 mt in 9M2022 9M2022.
as a result of the higher CPO production. In addition, we also
Revenue from Sales and Service Concessions
succeeded in selling 1,049 mt of Palm Kernel Oil (PKO) in
The Company posted a total revenue of USD 176.7 million in
9M2023, an increase of 145.1% compared to the 428 mt in the
9M2023, a decrease of 12.5% compared to 9M2022 mainly
same period last year. Meanwhile, our sales volume from PK in
due to lower revenue contributed by palm oil products. Our
9M2023 dropped by 2.0%, in line with a lower PK production in
consolidated revenue in 9M2023 consisted of 98.6% revenue
9M2023.
from sales of palm oil products, whereas 1.4% was contributed
by service concession revenue and sales of edamame and sago
The CPO price experienced a light recovery in Q3 2023 after
starch. On a Q-on-Q basis, the Company recorded a decrease in
slumped to its lowest point in Q2 2023, driven by global concern
total revenue of 3.2% to USD 61.9 million in Q3 2023 from USD
on ongoing El Nino effects. However, the CPO price has been
63.9 million in Q2 2023, mainly due to the lower ASP for palm oil
on a downward trend in 2023, due to higher output and weak
products in Q3 2023.
demand especially from major importing countries. Moreover,
there has been a similar decline in the prices of rival vegetable
Revenue from sales of palm oil products decreased by 12.4%
oils amid concerns over the possibility of a global economic
from USD 198.9 million in 9M2022 to USD 174.2 million in
recession and an expected production increase in rival vegetable
9M2023, due to the lower ASP for CPO, PK and PKO as well as
oils, such as soybean oil. As a result, the Company recorded an
the decrease in PK sales volume. Meanwhile, our edamame
Average Selling Price (ASP) for its CPO of USD 741 per ton in
business posted a positive performance in its sales revenue
9M2023, which was 15.6% lower than the 9M2022 ASP of USD
of USD 1.4 million in 9M2023, an increase of 16.0% from the
878 per ton. Meanwhile, the ASP for PK in 9M2023 was USD 364/
USD 1.2 million in 9M2022 due to the increase of both fresh
mt, 42.2% lower than the ASP in 9M2022 of USD 630/mt; the ASP
and frozen edamame sales volume and higher ASP. Our sago
for PKO was USD 741/mt, 50.9% lower than its ASP in 9M2022 of
segment contributed USD 623.9 thousand to our total revenue
USD 1,509mt.
in 9M2023, drop of 51.9% from the USD 1.3 million in 9M2022
due to the unfavorable sales volume variance along with a lower
sago starch production volume compared to 9M2022. In addition,
our renewable energy segment contributed USD 436.0 thousand
in 9M2023, slightly lower than the USD 440.0 thousand achieved
in 9M2022.
Page 3
INVESTOR NEWSLETTER | 31 OCTOBER 2023
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 8.4 million, a decrease of 22.5% from USD 10.8
million in 9M2022 mainly due to a foreign exchange gain of USD 30 September 2023 31 December 2022
151.4 thousand compared to a net loss of USD 1.7 million in "USD "Rp. "USD "Rp. Change
9M2022 as a result of the appreciation of the Rupiah against the Thousands" Millions (1)" Thousands" Millions (1)"
US Dollar in 9M2023. Current
60,929 945,989 59,148 930,457 3.0%
assets
Our financial charges, which represent interest expenses on our Non-current
548,017 8,508,515 543,443 8,548,894 0.8%
assets
loans, increased by 96.4% to USD 7.4 million in 9M2023 from
Total Assets 608,947 9,454,504 602,590 9,479,351 1.1%
interest expenses of USD 3.8 million in 9M2022 mainly due to
Current
additional interest expense recognition from our Southwest liabilities
51,562 800,549 40,470 636,635 27.4%
Papua estate and increases in interest rates for both USD and Non-current
IDR loans. All our planted area in the Southwest Papua estate 135,524 2,104,147 138,009 2,171,023 -1.8%
liabilities
was classified as mature plantation at the beginning of 2023 and Total
187,086 2,904,697 178,479 2,807,658 4.8%
therefore, we can no longer capitalize the interest expense from Liabilities
this estate. Equity
attributable
to the
Net Profit (Loss) owners
420,252 6,524,830 422,006 6,638,574 -0.4%
The Company recorded a net profit of USD 80.2 thousand in of the
9M2023 compared to USD 21.0 million in the same period last Company
year. This resulted in a net profit margin (NPM) ratio of 0.05% in Total Equity 421,861 6,549,808 424,111 6,671,693 -0.5%
9M2023, a decrease from 10.4% in 9M2022. This decrease was
in the main due to the lower ASPs, combined with the higher 1) The translation of US Dollar amounts into the Indonesian Rupiah amounts are
depreciation and interest expenses. In addition, estate operating included solely for the convenience of the readers and has been made using the Bank
costs rose at our newly mature area in the Southwest Papua Indonesia middle rate as of 30 September 2023 of Rp 15,526 to USD 1 and as of 31
estate and from the replanting areas in the North Sumatra I December 2022 of Rp 15,731 to USD 1.
and Belitung Island estates. Our production from this newly
mature area will only reach optimum levels over the next two
to three years. With the anticipated increase in our production As of 30 September 2023, total assets increased by 1.1% to USD
from the newly mature areas, our cash cost per ton is expected 608.9 million, mainly attributable to the increase in property,
to decrease because most of our production costs and overhead plant and equipment due to the impact of the Rupiah appreciation
costs are fixed costs. in 9M2023.
On a Q-on-Q basis, we recorded a net profit of USD 5.1 million in Total liabilities increased by 4.8% from USD 178.5 million to USD
Q3 2023, a remarkable improvement from a net loss of USD 1.1 187.1 million, primarily driven by the increase in short-term
million in Q2 2023, primarily due to better production and sales bank loans.
performance in Q3 2023. This resulted in a net profit margin
(NPM) ratio of 8.2% in Q3 2023, an increase from -1.7% in Q2 The Company was still able to maintain its prudent debt to equity
2023. and debt to asset ratios of 0.44 and 0.31, respectively as at 30
September 2023.
The Company also booked an improved EBITDA of USD 18.8
million in Q3 2023, an increase of 64.7% from USD 11.4 million Financing Facilities
in the previous quarter. This brought the EBITDA for 9M2023 to As of 30 September 2023, ANJT and its subsidiaries collectively
USD 36.8 million, a decrease of 36.5% compared to EBITDA of maintained bank loan facilities amounting to the equivalent of
USD 57.9 million in the same period last year. Thus, our EBITDA USD 198.7 million, comprising short-term loan facilities of USD
margin decreased from 28.7% in 9M2022 to 20.8% in 9M2023. 67.0 million and long-term loan facilities of USD 131.7 million.
Total Comprehensive Income The outstanding balance of the Company’s bank loans by the end
The foreign exchange rate of Rupiah by the end of September of September 2023 was USD 143.8 million, an increase of USD
2023 had appreciated by 1.3% to Rp 15,526 against the US Dollar 9.2 million from the USD 134.6 million as at the end of December
from Rp 15,731 at the end of 2022. As a result, the net assets 2022, mainly due to additional short-term bank loans of USD 11.9
of some of the Company’s subsidiaries (those which maintain million in 9M2023, a foreign exchange loss on our loans of USD
their bookkeeping records in Rupiah) has appreciated by USD 0.7 million and offset by loan repayments of USD 3.4 million.
2.9 million when their financial statements are translated
from Rupiah to US Dollar, compared to a net loss of USD 13.4
million in 9M2022. Therefore, the Company reported a total
comprehensive income of USD 3.0 million in 9M2023 compared
to a comprehensive income of USD 7.6 million in 9M2022.
Page 4
INVESTOR NEWSLETTER | 31 OCTOBER 2023
Other Corporate Updates Key Performance (Quarterly)
Graph 1: CPO Sales Volume and Average Selling Price Each Quarter
Awards
The Company has maintained its full commitment to its
sustainability programs across all its operations and was
pleased to receive the following recognitions in “IDX Channel:
Anugerah Inovasi Indonesia 2023”:
1. ANJA received a special award in the Sustainability Category
for its innovation “Electronic Traceability Information
System (e-TIS).”
2. GMIT received an appreciation in the Sustainability Category
for its innovation “Application of Straw Mulch as a Substitute
for Plastic Mulch.”
3. KAL received an appreciation in the Sustainability Category
for its innovation “KAL’s Action in Sustainability (KLASI).”
Graph 2: Net Profit and EBITDA Growth
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
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