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20230731_ANJT_Laporan Informasi dan Fakta Material_31355854_lamp3.pdf
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Page 1
31 JULY 2023
Table 1 : Production and Sales
6M2023 6M2022 Change
FFB Production (tonnes)
FFB from our estates 414,919 382,100 8.6%
Belitung Island 113,949 90,855 25.4%
North Sumatra I 59,399 58,971 0.7%
North Sumatra II 78,031 83,006 -6.0%
West Kalimantan 94,330 92,494 2.0%
Southwest Papua* 64,919 54,024 20.2%
South Sumatra** 4,291 2,750 56.0%
FFB bought from third parties 240,986 269,351 -10.5%
Total FFB processed 651,615 648,701 0.4%
FFB YIELD (tonnes per hectare)
Photo: Corporate Communications Average yield 9.3 8.7 6.7%
Belitung Island 9.2 7.3 25.9%
North Sumatra I 8.5 8.0 6.5%
North Sumatra II 10.1 10.7 -6.0%
6M2023 OPERATIONAL UPDATE West Kalimantan 10.6 10.4 2.0%
Southwest Papua* 8.0 7.7 3.8%
South Sumatra** 6.6 4.5 45.8%
CPO Production (tonnes)
Total production 134,749 130,722 3.1%
PT Austindo Nusantara Jaya Tbk (“ANJT” or “the Company”)
Belitung Island 39,454 32,312 22.1%
announced its operational performance and financial results for
North Sumatra I 23,962 26,818 -10.7%
the sixth-month period ended 30 June 2023 (6M2023).
North Sumatra II 24,944 27,941 -10.7%
West Kalimantan 31,801 31,910 -0.3%
The Company ended 30 June 2023 by producing a total of 414,919
Southwest Papua* 14,588 11,741 24.2%
mt of Fresh Fruit Bunches (FFB), an increase of 8.6% compared
Palm Kernel production 24,641 25,658 -4.0%
to 382,100 mt of FFB production in 6M2022.
PKO production* 669 513 30.4%
Sales (tonnes)
In 6M2023, the 589 ha newly mature area in our South Sumatra
CPO Sales 135,147 116,247 16.3%
estate contributed 4,291 mt of FFB production, which is an
Belitung Island 39,359 29,400 33.9%
increase of 56.0% compared to 2,750 mt in 6M2022, resulting in
North Sumatra I 25,814 26,800 -3.7%
an FFB yield of 6.6 mt/ha. Meanwhile, our Belitung Island estate
North Sumatra II 26,481 24,344 8.8%
recorded a total production of 113,949 mt, an increase of 25.4%
compared to 90,855 mt in 6M2022 notwithstanding the major West Kalimantan 31,500 26,100 20.7%
ongoing replanting program at this estate. The FFB production Southwest Papua 11,993 9,603 24.9%
increase in the Belitung Island estate is largely contributed by PK sales 25,242 25,916 -2.6%
higher productivity from the young mature palm trees from the PKO Sales 549 428 28.3%
replanting area. Furthermore, our North Sumatera I estate, PRODUCTIVITY
which has been engaged in its own replanting program since Extraction Rate - CPO (Mixed) 20.7% 20.2% 2.6%
2018, produced a total FFB of 59,399 mt, a slight increase of 0.7% CPO Average Selling Price - USD 759 1,043 -27.2%
compared to the total FFB production in 6M2022 of 58,971 mt. PK Average Selling Price - USD 378 777 -51.4%
PKO Average Selling Price - USD 749 1,535 -51.2%
Notes:
*Southwest Papua estate production for the year 2022 includes the scout
harvesting production.
** South Sumatra estate production 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 30 June 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 785 Sjakon George Tahija 4.74 Jakarta 12950
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 710 Public 8.83 E: investor.relations@anj-group.com
edamame. www.anj-group.com
Page 2
INVESTOR NEWSLETTER | 31 JULY 2023
Our West Kalimantan estate recorded an increase in FFB
production of 2.0% to 94,330 mt compared to 92,494 mt in 6M2022.
FINANCIAL HIGHLIGHTS
In addition, our Southwest Papua estate recorded a total 64,919
mt in FFB production, an increase of 20.2% compared to 54,024
mt in 6M2022. The FFB production increase in our Southwest
Papua estate is in line with the production increase trend from Our Financial Performance Results
young mature palm trees and improved road access and other Table 2: Consolidated Statements of Comprehensive Income
infrastructure to transport the FFB to the mill. Meanwhile, our
North Sumatra II estate experienced a drop in FFB production of 6M2023 6M2022
6.0% due to the impact of floods that disrupted FFB supplies to "USD "Rp. "USD "Rp. Change
the mill and affected harvesting in the plantation at the beginning Thousands" Millions (1)" Thousands" Millions (1)"
of 2023.
Revenue 114,798 1,730,127 144,148 2,082,224 -20.4%
We expect that the positive trend in our 6M2023 FFB production Cost of revenue (106,081) (1,598,752) (106,567) (1,539,358) -0.5%
will continue in the second half of 2023. Looking ahead, we Gross profit 8,717 131,375 37,582 542,866 -76.8%
anticipate this positive trend to continue and expect a new Total operating
(5,159) (77,747) (7,272) (105,050) -29.1%
milestone in FFB production to be reached in 2025, supported by expenses, net
the completion of the road lateralization project in the Southwest Operating (loss)
3,558 53,628 30,309 437,816 -88.3%
profit
Papua estate and higher productivity from replanting at the
Finance income 145 2,187 292 4,218 -50.3%
North Sumatra I and Belitung Island estates.
Finance charges (4,910) (74,003) (2,494) (36,026) -96.9%
(Loss) Profit
In line with the FFB production, our CPO production in 6M2023 (1,207) (18,188) 28,107 406,008 -104.3%
before tax
increased by 3.1% to 134,749 mt compared to 130,722 mt in Income tax
(3,787) (57,069) (8,855) (127,904) -57.2%
6M2022. Meanwhile, our Palm Kernel (PK) production decreased expense
by 4.0% to 24,641 mt in 6M2023 compared to 25,658 mt in 6M2022. (Loss) Profit for
(4,993) (75,257) 19,253 278,104 -125.9%
the period
The Company reported an increase in CPO sales volume of Other compre-
16.3% to 135,147 mt in 6M2023 compared to 116,247 mt in hensive (loss) 9,314 140,374 (7,823) (112,997) 219.1%
income
6M2022 as a result of the higher CPO production. In addition,
Total
we also succeeded in selling 549 mt of Palm Kernel Oil (PKO)
comprehensive 4,321 65,117 11,430 165,108 -62.2%
in 6M2023, an increase of 28.3% compared to the 428 mt in the income
same period last year. Meanwhile, our sales volume from PK in EBITDA 17,995 271,206 45,141 652,062 -60.1%
6M2023 dropped by 2.6%, in line with a lower PK production in EBITDA margin
15.7% 15.7% 31.3% 31.3% -49.9%
6M2023. (%)
1) The translation of US Dollar amounts into the Indonesian Rupiah amounts are
The CPO price slumped in Q2 2023 to its lowest point since included solely for the convenience of the readers and has been made using the average
November 2020 due to higher output and a decline in the prices of the exchange rates of Rp 15,071 to USD 1 for 6M2023 and Rp 14,445 to USD 1 for
of rival vegetable oils amid concerns over the possibility of a 6M2022.
global economic recession and an expected production increase
in rival vegetable oils, such as soybean oil. As a result, the Revenue from Sales and Service Concessions
Company recorded an Average Selling Price (ASP) for its CPO The Company posted total revenue of USD 114.8 million in
of USD 759 per ton in 6M2023, which was 27.2% lower than the 6M2023, a decrease of 20.4% compared to 6M2022 mainly due to
6M2022 ASP of USD 1,043 per ton. Meanwhile, the ASP for PK in lower average selling prices of CPO, PK and PKO.
6M2023 was USD 378/mt, 51.4% lower than the ASP in 6M2022
of USD 777/mt; the ASP for PKO was USD 749/mt, 51.2% lower The palm oil segment contributed 98.8% of our total revenue
than its ASP in 6M2022 of USD 1,535/mt. or USD 113.4 million, a decrease of 20.3% compared to USD
142.3 million achieved in 6M2022 due to the fall in our ASP for
CPO. Our edamame sales revenue was USD 684.0 thousand, an
increase of 4.1% from the USD 657.1 thousand in 6M2022 mainly
due to the higher ASP. Our sago segment contributed USD 433.5
thousand to our total revenue in 6M2023, a drop of 48.8% from
the USD 845.9 thousand in 6M2022 due to the unfavorable sales
volume variance in line with a lower sago starch production
volume compared to 6M2022. Meanwhile, our renewable energy
segment contributed USD 272.5 thousand in 6M2023, slightly
lower than the USD 284.5 thousand achieved in 6M2022 due to
major maintenance in the beginning of 2023.
On a quarterly basis, the Company posted an increase in
consolidated revenue of 25.6% to USD 63.9 million during April-
June 2023 period (Q2 2023), compared to USD 50.9 million in
the January-March 2023 period (Q1 2023). This increase was
mainly due to higher CPO, PK and PKO sales volumes in Q2 2023
compared to Q1 2023.
Page 3
INVESTOR NEWSLETTER | 31 JULY 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 5.2 million, a decrease of 29.1% from USD 7.3
million in 6M2022 mainly due to a foreign exchange gain of USD 30 June 2023 31 December 2022
831.3 thousand compared to a net loss of USD 987.4 thousand in "USD "Rp. "USD "Rp. Change
6M2022 as a result of the appreciation of the Rupiah against the Thousands" Millions (1)" Thousands" Millions (1)"
US Dollar in 6M2023. Current
59,097 887,996 59,148 930,457 -0.1%
assets
Our financial charges, which represent interest expenses on our Non-current
555,966 8,353,941 543,443 8,548,894 2.3%
assets
loans, increased by 96.9% to USD 4.9 million in 6M2023 from
Total Assets 615,063 9,241,937 602,590 9,479,351 2.1%
interest expenses of USD 2.5 million in 6M2022 mainly due to
Current
additional interest expense recognition from our Southwest liabilities
52,958 795,744 40,470 636,635 30.9%
Papua estate and increases in interest rates for both USD and Non-current
IDR loans. All our planted area in the Southwest Papua estate 138,928 2,087,525 138,009 2,171,023 0.7%
liabilities
was classified as mature plantation at the beginning of 2023 and Total
191,885 2,883,269 178,479 2,807,658 7.5%
therefore, we can no longer capitalize the interest expense from Liabilities
this estate. Equity
attributable
to the
Net Profit (Loss) owners
421,302 6,330,483 422,006 6,638,574 -0.2%
In 6M2023, the Company recorded a net loss of USD 5.0 million, of the
a negative variance from a net profit of USD 19.2 million in the Company
same period last year. This resulted in a negative net profit Total Equity 423,178 6,358,668 424,111 6,671,693 -0.2%
margin (NPM) ratio in 6M2023 of -4.3%, a decrease from 13.4%
in 6M2022. This decrease was mainly due to a lower revenue 1) The translation of US Dollar amounts into the Indonesian Rupiah amounts are
in 6M2023 resulting from lower ASPs, combined with higher included solely for the convenience of the readers and has been made using the Bank
depreciation and interest expenses as well as estate operating Indonesia middle rate as of 30 June 2023 of Rp 15,026 to USD 1 and as of 31 December
costs from our newly mature area in the Southwest Papua estate 2022 of Rp 15,731 to USD 1.
and from the replanting areas in the North Sumatra I and Belitung
Island estates. Our production from this newly mature area will As of 30 June 2023, total assets increased by 2.1% to USD 615.5
only reach optimum levels over the next two to three years. With million, mainly attributable to the increase in bearer plants and
the increase in our production from the newly mature area, our property, plant and equipment due to the impact of the Rupiah
cash cost per ton is expected to decrease because most of our appreciation in 6M2023.
production costs and overhead costs are fixed costs.
Total liabilities increased by 7.5% from USD 178.5 million to USD
On a quarter-to-quarter comparison (Q on Q), we recorded a 191.9 million, primarily driven by the increase in short-term
lower net loss of USD 1.1 million in Q2 2023, a decrease of 72.4% bank loans.
from a net loss of USD 3.9 million in Q1 2023, primarily due to a
better production and sales performance in Q2 2023. We expect The Company was still able to maintain its prudent debt to equity
this positive trend in Q2 2023 will continue in the second half of and debt to asset ratios of 0.45 and 0.31, respectively as at 30
2023, as we enter the peak crop period in Q3 2023. Our net profit June 2023.
margin (NPM) in Q2 2023 is -1.7%, an improvement from -7.7%
in Q1 2023. Financing Facilities
As of 30 June 2023, ANJT and its subsidiaries collectively
The Company also booked a lower EBITDA of USD 18.0 million in maintained bank loan facilities amounting to the equivalent of
6M2023 compared to USD 45.1 million in 6M2022 and a decrease USD 203.8 million, comprising short-term loan facilities of USD
in EBITDA margin from 31.3% in 6M2022 to 15.7% in 6M2023. 66.6 million and long-term loan facilities of USD 137.2 million.
Total Comprehensive Income The outstanding balance of the Company’s bank loans by the end
The appreciation of the Rupiah against the US Dollar from of June 2023 was USD 146.4 million, an increase of USD 11.8
Rp 15,731 at the end of 2022 to Rp 15,026 by the end of June million from the USD 134.6 million as at the end of December
2023 has appreciated the net assets of some of the Company’s 2022, mainly due to additional short-term bank loans of USD
subsidiaries (those which maintain their bookkeeping records in 11.6 million in 6M2023, a foreign exchange loss on our loans of
Rupiah) by USD 9.3 million when their financial statements are USD 2.5 million and offset by loan repayments of USD 2.3 million.
translated from Rupiah to US Dollar, compared to a net loss of
USD 7.8 million in 6M2022. As a result, the Company reported
a total comprehensive income of USD 4.3 million in 6M2023
compared to a comprehensive income of USD 11.4 million in
6M2022.
Page 4
INVESTOR NEWSLETTER | 31 JULY 2023
Other Corporate Updates Key Performance (Quarterly)
Graph 1: CPO Sales Volume and Average Selling Price Each Quarter
Final Dividend Distribution
The Company’s Annual General Meeting of Shareholders (AGMS)
on 7 June 2023 approved the distribution of a cash dividend
90 .0
81.0
78.1
74.7 77.0
1, 400
73.5
amounting to Rp 93.2 billion (equivalent to USD 6.2 million),
80 .0
70.3 71.5
representing a dividend per share of Rp 27.8/share and a payout
70 .0
60.4 60.1 60.1 58.1
1, 200
56.2
ratio of 29.5%. As of the date of this newsletter, the dividend has
60 .0
1,069
1,016
been fully paid.
50 .0
1, 000
40 .0
753 776 759
80 0
Regulatory Updates
30 .0
641
On 5 January 2022, the Ministry of Environment and Forestry
20 .0
60 0
(“MOEF”) issued Decree No.SK.01/MENLHK/SETJEN/
10 .0
KUM.1/1/2022 regarding Revocation of Forest Area Concession
- 40 0
Q1 Q2 Q3 Q4 Q1 Q2
Permits (“SK01”) which revoked a number of forestry concession 2022 2023
licenses, including those under the Approval for Relinquishment
of Forestry Area (Persetujuan Pelepasan Kawasan Hutan).
CPO Production ('000 tonnes) CPO Sales Volume ('000 tonnes) CPO Average Selling Price (USD/tonnes)
SK01, however, calls for a decree to be issued by three Director
Generals under the MOEF for an “official” revocation of forestry
concession licenses (“Official Revocation Decree”). One of the Graph 2: Net Profit and EBITDA Growth
Company’s concessions in Southwest Papua held under the land
cultivation right (Hak Guna Usaha, “HGU”) which is legally owned 80 ,00 0
directly by the Company was included in the list of concession
35 .0%
69,332
70 ,00 0
31.4% 31.3%
28.7%
permits which were revoked by SK01.
30 .0%
60 ,00 0
57,866 25.8% 25 .0%
On 21 June 2023, the Company received a Decree from the 45,141
50 ,00 0
20 .0%
Minister of Environment and Forestry of the Republic of Indonesia 14.8% 13.4% 15.7%
40 ,00 0
15 .0%
10.4% 7.9% 13.0%
which excluded the Company from the list of concession permits
30 ,00 0
23,704
10 .0%
19,252 20,960 21,155
which were revoked by SK01. Therefore, the HGU of the Company 20 ,00 0
17,995 5. 0%
11,162
remains valid. 10 ,00 0
6,597 0. 0%
-4.3%
-7.7%
-
-5.0%
(10,0 00)
(3,914) (4,993) -10.0 %
3M 6M 9M 12M 3M 6M
2022 2023
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
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