20230731_DSNG_Laporan Informasi dan Fakta Material_31355511_lamp1.pdf

PRESS RELEASE
PT DHARMA SATYA NUSANTARA Tbk

DSNG Recorded Revenue Growth Amidst Weakening CPO Prices

Jakarta, 31 July 2023 – PT Dharma Satya Nusantara Tbk (DSNG) recorded revenue growth in the
first half of 2023 despite the declining trend in Crude Palm Oil (CPO) prices. DSNG generated
revenue of Rp 4.4 trillion, representing a 15% year-on-year increase. The palm oil segment
remained the main contributor to the company's revenue, accounting for 88% of the total
revenue, amounting to Rp 3.9 trillion.

"During this period, our plantation productivity and sales volume grew, despite relatively lower
CPO prices than last year. Fresh Fruit Bunch (FFB) production rose by 14%, while CPO sales
volume increased significantly by 41% following more external FFB purchases," explained
Andrianto Oetomo, President Director, DSNG

In the first semester of this year, the company achieved a net profit of Rp 360 billion. However,
this net profit declined by 23%, primarily due to the rising fertilizer costs and an increase in the
purchase volume of external FFB to boost the company's revenue.

Meanwhile, the company's EBITDA was recorded at Rp 1.04 trillion, a 13% decrease compared to
the same period the previous year, with an EBITDA margin of 24%, down from 31.4% in the first
semester of the last year.

Total assets experienced a growth of 4%, reaching Rp 16 trillion, mainly contributed by additional
fixed assets and increased inventory level. On the other hand, total liabilities increased by 8% to
Rp 7.8 trillion, while equity increased by 0.5% to Rp 8.2 trillion.

Operational-wise, FFB production reached 1.04 million tons, a 14% increase, which is in line with
the ongoing recovery of oil palm trees. With the additional purchase of FFB from external parties,
Crude Palm Oil (CPO) production increased by 23% to 304,335 tons. During this period, DSNG
also improved the FFA level from 3.87 to 3.07, ensuring a better quality of the DSNG's CPO.

Meanwhile, the performance of the wood products segment was less promising after
experiencing bullish market sentiment in the previous year. The sales volume of panel products
was lower than the last year because the Japanese market experienced an over-inventory
    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