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20231030_DSNG_Laporan Informasi dan Fakta Material_31483234_lamp1.pdf
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DSNG
INVESTOR
NEWSLETTER Volume: 50 – October 2023
In Million Rupiah
DSNG Recorded Rp 6.6 Trillion Sales in Profit and Loss 9M-2023 9M-2022 % FY 2022
Revenue 6,564,144 6,585,788 (0.3) 9,633,671
the Third Quarter of 2023 - Palm Oil 5,771,429 5,398,674 6.9 8,117,134
- Wood Product 792,715 1,187,114 (33.2) 1,516,537
DSNG recorded sales in 9M23 amounted to Rp 6.6 trillion,
Cost of Revenue (4,923,284) (4,444,339) 10.8 (6,516,096)
relatively the same as 9M22, with the palm oil segment
Gross Profit 1,640,860 2,141,449 (23.4) 3,117,575
contributing 88% to Rp 5.8 trillion, higher by 7% YoY. Total 32.4
- Margin (%) 25.0 32.5
sales of all CPO products in 9M23 were higher than last Operating Profit 980,620 1,557,758 (37.0) 2,172,475
year, following higher FFB production by 5.5% YoY and - Margin (%) 14.9 23.7 22.6
combined with more external FFB purchases. Profit Before Tax 671.969 1,192,472 (43.6) 1,610,228
- Margin (%) 10.2 18.1 22.6
In addition, although OER was lower than the previous EBITDA 1.597.733 2,088,345 (23.5) 3,018,363
year, the OER throughout 2023 has consistently improved - Margin (%) 24.3 31.7 31.3
from quarter to quarter, with the OER in Q3-23 reaching Profit 504,338 897,637 (43.8) 1,206,587
23.5%. This improvement of OER is also accompanied by - Margin (%) 7.7 13.6 12.5
the improvement in the CPO's quality, as indicated in the Core Profit 485.895 970.472 (49.9) 1,318,548
FFA level of 3% against 3.82% last year.
Financial Position 30 Sep 2023 31 Dec 2022 %
Even though the Company still enjoyed a higher ASP at Rp Total Assets 16,003,177 15,357,229 4.2
11.5 million per ton compared to Rp 11 million last year, Total Liabilities 7,613,109 7,197,089 5.8
the cost of sales surged by 11% to IDR 4.9 trillion, mainly Equity 8,390,068 8,160,140 2.8
driven by high fertilizer costs, resulting in a 24% drop in premium quality products, sales quantities were still growing
EBITDA and 44% in profit, respectively. And since the oil quarter by quarter despite being 18% and 40% lower YoY,
palm segment contributed around 88% to consolidated respectively, in comparison to 2022.
revenue, the volatility in the fertilizer costs as part of the
cost of revenue significantly affected our profitability. DSNG's total assets grew by Rp 0.65 billion or 4% to Rp 16
trillion, attributed to higher cash balance, inventories and fixed
Meanwhile, the wood products segment performed assets from realization of capex. Total liabilities increased by 6%
otherwise, with revenue in 9M23 decreased by 33% to Rp to Rp 7,6 trillion, partly due to the additional utilization of
0.8 trillion. The higher-for-longer interest rate working capital loans and the foreign exchange translation effect
environment has contributed to the slowing property on its USD denominated loans following the weakening of IDR
markets in the USA, Canada, the EU and Japan, and against USD.
consequently, low demand for wood products throughout
2023. However, thanks to our cost leadership strategy and
CPO PRODUCTION (TON) 2022 2023 FFB PRODUCTION (TONS) 2022 2023
204.241
200.576
190.247
189.635
182.096
180.441
177.612
58.366
57.601
57.434
168.021
53.788
53.472
52.899
50.905
146.564
48.249
41.210
142.517
120.376
150.234
157.276
153.118
194.416
202.127
224.952
208.464
216.444
222.896
220.901
36.606
31.188
39.143
42.354
43.046
55.915
60.876
68.864
63.057
62.960
66.126
69.346
-
-
-
-
-
-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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9M-2023 9M-2022 % Q1-2023 Q2-2023 Q3-2023 QoQ (%) FY2022
Plantation Performance
FFB Production (tons) 1,639,434 1,553,480 5.5 527,730 517,251 594,453 14.9 2,213,698
FFB Nucleus (tons) 1,298,669 1,230,989 5.5 421,494 408,862 468,313 14.5 1,758,257
FFB Plasma (tons) 340,765 322,491 5.7 106,236 108,389 126,140 16.4 455,442
Mill Performance
FFB Processed (tons) 2,067,002 1,914,155 8.0 678,640 666,777 721,585 8.2 2,809,177
CPO Production (tons) 473,923 441,048 7.5 152,053 152,282 169,588 11.4 639,480
PK Production (tons) 86,990 81,342 6.9 27,748 27,776 31,467 13.3 117,622
PKO Production (tons) 28,359 25,645 10.6 9,101 9,149 10,109 10.5 37,970
CPO OER (%) 22.93 23.04 (0.5) 22.41 22.84 23.50 2.9 22.76
FFA (%) 3.00 3.82 (21.4) 3.30 2.85 2.88 1.4 3.78
Sales Performance
CPO (tons) 456,479 425,192 7.4 140,646 157,917 157,916 0 639,518
PK (tons) 19,125 18,114 5.6 5,477 5,974 7,674 28.5 27,262
PKO (tons) 26,975 23,704 13.8 6,205 10,815 9,955 (8.0) 38,907
CPO ASP (Rp ‘mio/Ton) 11,50 11,07 3.9 11.97 11.71 10.88 (7.1) 11.18
PKO ASP (Rp ‘mio/Ton) 13,10 19,62 (33.2) 13.77 13.15 12.64 (3.9) 17.48
Although 9M23 FFB production only increased by 5.5% YoY, Meanwhile, although the phenomenon of El Nino in 2023
the Q3-23 FFB production of both nucleus and plasma can be visibly seen in many areas across Indonesia, its
exhibited notable increases against the Q2-23 production, severeness in Kalimantan, where our operation estates are
with nucleus production rising by 14.5% rise and plasma of a located, is less compared to the southern areas such as Java,
16.4% increase QoQ. In addition, the Oil Extraction Rate Bali, Nusa Tenggara, South Sumatera, and Sulawesi. Thus,
(OER) has also improved from 22.84% in Q2-2023 to 23.50% we expect the impact of El Nino on our 2024 production will
in Q3-2023 but remained slightly lower than the results be milder than the previous El Nino.
achieved in the same period last year at 23.04%.
As a result, CPO, PK, and PKO production QoQ experienced
higher yields, with increments of 11%, 13%, and 11%,
respectively.
CPO ASP (IDR '000/TON) KPB Medan 2022 KPB Medan 2023 YTD DSN 2022
YTD DSN 2023 DSN 2022 DSN 2023
13.043 12.940 11.625 11.728
12.015 11.803 12.060 12.487 10.929 11.015 11.504
11.906 12.488 12.038
10.282 10.958 10.510 10.572 10.712 11.070
10.027 10.388
9.141
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
PLANTED AREA Average
Planted Hectarage
As of end of September 2023, the company’s total Planted (‘000 ha) Mature Total Planted
Age (yrs)
planted area, including nucleus and plasma, were (‘000 ha) (‘000 ha)
112.5 thousand hectares, with mature areas of 106 Nucleus 14.54 81.8 84.6
thousand hectares and average age of 13.8 years. Plasma 11.16 24.2 27.9
Total 13.77 106.0 112.5
DISCLAIMER: The views expressed here contain information derived from publicly available sources that have not been independently
verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward-looking
information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This
presentation should not be relied upon as a recommendation or forecast by PT Dharma Satya Nusantara Tbk. Nothing in this release
should be construed as either an offer to buy or sell or a solicitation of an offer to buy or sell shares in any jurisdiction.
DSNG Investor Newsletter —For further information, contact Investor Relations (investor.relations@dsngroup.co.id)
PT Dharma Satya Nusantara Tbk. Jl. Rawa Gelam V Kav OR/3B Kawasan Industri Pulogadung, Jakarta 13930 Indonesia
Page 3
WOOD PRODUCTS
9M-2023 9M-2022 % Q1-2023 Q2-2023 Q3-2023 QoQ (%) FY 2022
Sales Volume
Panel (‘000 m3) 71,6 87,5 (18.2) 21,3 23,0 27,2 18.2 115.7
Engineered Flooring (‘000 m2) 554,6 930,7 (40.4) 165,7 188,8 200,0 5.9 1.117.0
Average Selling Price (ASP)
Panel ( Rp mio /m3) 6,22 7.38 (15.8) 6.7 6.0 6.1 1.7 7.37
Engineered Flooring ( Rp mio /m2) 0.45 0.44 4.1 0.48 0.43 0.46 6.4 0.44
During the past nine months, the sales volume of panels has consistently
increased every quarter. In Q3-2023, the panel sales volume saw a rise of
18.2% compared to Q2-2023. Similarly, flooring sales increased marginally by
5.9% in Q3 compared to Q2 of this year. This positive quarterly trend was also
accompanied by improved average selling prices (ASP), with panel ASP
increasing by 1.7% and flooring ASP increasing by 6.4% QoQ.
However, on an annual basis, the sales volume has not demonstrated its best
performance. Panel products experienced an 18% decline in sales volume due
to reduced exports to Japan. Likewise, a similar trend was observed in
engineered flooring products, with a year-to-date (YTD) production decrease of
approximately 40%, influenced by a decreasing demand from the United States
and Canada.
To support our strategy for future product expansion, we have distributed over
a million Jabon tree seedlings to local farmers as part of our Hutan Rakyat
Program. This program will enable us to gain access to raw materials supply for
our future products while promoting sustainable use of wood resources.
Moreover, the Company aims to establish a sustainable supply chain by actively
assisting farmer groups in producing sustainable wood products.
LATEST UPDATE
DSNG was acknowledged as one of the top 50 companies in the Mid
Capitalization category for effectively implementing Good Corporate
Governance (GCG) principles. The assessment was conducted by the Indonesia
Institute for Corporate Directorship (IICD).
The award aimed to encourage more Indonesian companies to enhance their
competitiveness through Corporate Governance implementation aligned with
the principles of the ASEAN CG Score Card.
DISCLAIMER: The views expressed here contain information derived from publicly available sources that have not been independently
verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward-looking
information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This
presentation should not be relied upon as a recommendation or forecast by PT Dharma Satya Nusantara Tbk. Nothing in this release
should be construed as either an offer to buy or sell or a solicitation of an offer to buy or sell shares in any jurisdiction.
DSNG Investor Newsletter —For further information, contact Investor Relations (investor.relations@dsngroup.co.id)
PT Dharma Satya Nusantara Tbk. Jl. Rawa Gelam V Kav OR/3B Kawasan Industri Pulogadung, Jakarta 13930 Indonesia
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