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20230731_DSNG_Laporan Informasi dan Fakta Material_31355511_lamp2.pdf
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DSNG
INVESTOR
NEWSLETTER Volume: 49 – July 2023
DSNG Recorded Higher Revenue Amid Profit and Loss
1H-2023 1H-2022 % FY 2022
(in million)
Pressure on the CPO Selling Price Revenue 4,357,554 3,787,173 15.1 9,633,671
Amid pressures on the CPO selling price and wood - Palm Oil 3,852,953 3,005,411 28.2 8,117,134
products demand, PT Dharma Satya Nusantara Tbk - Wood Product 504,601 781,762 (35.5) 1,516,537
(DSNG) still generated revenue of Rp 4.4 trillion for the Cost of Revenue (3,301,638) (2,600,503) 27.0 (6,516,096)
Gross Profit 1,055,916 1,186,670 (11.0) 3,117,575
first half of 2023, which increased by 15% YoY.
- Margin (%) 24.2 31.3 32.4
The palm oil segment recorded revenue of Rp 3.9 trillion Operating Profit 632,708 876,532 (27.8) 2,172,475
which contributed to 88% of total consolidated revenue. - Margin (%) 14.5 23.1 22.6
Palm oil revenue increased by 28% compared to last year's Profit Before Tax 479,847 638,157 (24.8) 1,610,228
period, mainly driven by the rise in production and sales - Margin (%) 11.0 16.8 22.6
EBITDA 1,035,60 1,188,310 (12.9) 3,018,363
volume rather than the selling price.
- Margin (%) 23.8 31.4 31.3
Meanwhile, the sales volume of wood products, both Profit 360,015 467,031 (22.9) 1,206,587
panel and engineered floorings, was lower than last year - Margin (%) 8.3 12.3 12.5
and posted revenue of Rp 505 billion or decreased by 36% Core Profit 312,011 511,566 (39.0) 1,318,548
YoY due to a market slowdown after an extraordinarily
Financial Position
bullish market in the previous year. The Japanese market 30 June 2023 31 Dec 2022 %
(in million)
experienced an over-inventory situation, while the USA,
Total Assets 15,978,245 15,357,229 4.0
Canada, and the European Union markets were still
affected by relatively high inflation. Total Liabilities 7,778,935 7,197,089 8.0
Equity 8,199,310 8,160,140 0.5
Despite the increase in revenue, the Company only
recorded a net profit of Rp 360 billion with EBITDA of Rp However, following the recent decline in fertilizer prices, the
1.04 trillion, decreased by 23% and 13%, respectively, Company was renegotiating the remaining requirement for this
YoY. Although wood products contributed to the decline year's and next year's needs. Based on the current fertilizer price
in profitability, the largest came from the palm oil trend, the Company expects the fertilizer costs will come down
segment, mainly from a significantly higher fertilizer cost next year to a normal range and thus improving the Company's
and an 83% more external FFB purchase to boost revenue. margin.
In 1H-2023, fertilizer costs increased by almost 100% due Nevertheless, total assets in 1H 2023 grew 4% to Rp 16 trillion,
to global fertilizer scarcity since 2022 following geo-politic mainly contributed by additional fixed assets and increased
tension between Ukraine and Russia. The Company inventory level. On the other hand, total liabilities increased by
secured the 2023 fertilizer requirement last year at a high 8% to Rp 7.8 trillion, while equity increased by 0.5% to Rp 8.2
price. trillion.
CPO PRODUCTION (TON) 2022 2023 FFB PRODUCTION (TONS) 2022 2023
190,247
182,096
180,441
177,612
57,601
168,021
53,472
52,899
50,905
146,564
48,249
41,210
120,376
142,517
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
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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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1H-2023 1H-2022 % Q1-2023 Q2-2023 QoQ (%) FY2022
Plantation Performance
FFB Production (tons) 1,044,981 917,937 13.8 527,730 517,251 (2.0) 2,213,698
FFB Nucleus (tons) 830,356 722,189 15.0 421,494 408,862 (3.0) 1,758,257
FFB Plasma (tons) 214,625 195,748 9.6 106,236 108,389 2.0 455,442
Mill Performance
FFB Processed (tons) 1,345,418 1,068,126 26.0 678,640 666,777 (1.7) 2,809,177
CPO Production (tons) 304,335 248,251 22.6 152,053 152,282 0.2 639,480
PK Production (tons) 55,524 45,996 20.7 27,748 27,776 0.1 177,622
PKO Production (tons) 18,250 14,220 28.3 9,101 9,149 0.5 37,97
CPO OER (%) 22.62 23.34 (3.1) 22.41 22.84 1.9 22.76
FFA (%) 3.07 3.87 (20.6) 3.07 2.84 (7.5) 3.78
Sales Performance
CPO (tons) 298,563 212,305 40.6 140,646 157,917 12.3 639,518
PK (tons) 11,451 9,909 15.6 5,477 5,974 9.1 27,262
PKO (tons) 17,020 13,002 30.9 6,205 10,815 74.3 38,907
CPO ASP (Rp ‘mio/Ton) 11.83 11.78 0.4 11.97 11.71 (2.1) 11.18
PKO ASP (Rp ‘mio/Ton) 13.38 25.64 (47.8) 13.77 13.15 (4.5) 17.48
Regarding operational performance, our FFB production and 28%, respectively, equivalent to 55,524 tons and 18,250
reached 1 million tons, which increased by 14%, in line with tons. In terms of sales volume, our CPO, PK, and PKO sales
the ongoing recovery of our oil palm trees. And due to more increased by 41%, 16%, and 31%, respectively. However,
external FFB purchases, our CPO production increased by CPO ASP only grew by 0.4%, while PKO ASP experienced a
23% to 304 thousand tons, followed by increases in Palm significant moderation of 48%.
Kernel (PK) and Palm Kernel Oil (PKO) production of 21%
CPO ASP (Rp '000 / Ton) KPB Medan 2022 KPB Medan 2023 YTD ASP2022
YTD ASP2023 DSN 2022 DSN 2023
12,940 11,833
12,060 12,488 12,487 11,625
12,015 10,572
11,728
11,803 11,906 12,038
13,043 10,958
10,027
10,712
10,388 11,784
10,282
9,141
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
PLANTED AREA Average
Planted Hectarage
As of end of June 2023, the company’s total planted Planted (‘000 ha) Mature Total Planted
Age (yrs)
area, including nucleus and plasma, were 112.5 (‘000 ha) (‘000 ha)
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
1H 2023 1H 2022 % Q1 2023 Q2 2023 QoQ (%) FY 2022
Sales Volume
Panel (‘000 m3) 44,3 55,8 (21) 21,3 23,0 7.8 115.7
Engineered Flooring (‘000 m2) 354,5 637,5 (44) 165,7 188,8 13.9 1.117.0
Average Selling Price (ASP)
Panel ( Rp mio /m3) 6,31 7.33 (14) 6.7 6.0 (11.0) 7.37
Engineered Flooring ( Rp mio
/m2) 0.45 0.43 5 0.48 0.43 (9.3) 0.44
During 1H 2023 sales volume of panel products was recorded at 44.3
thousand m3, down by 21%. At the same time, engineered flooring
generated a sales volume of 345.5 thousand m2, down by 44%.
However, on quarter-to-quarter basis, we saw an improvement in sales
volume in Q2 as against Q1, for both panel and engineered flooring, by
7.8% and 13.9%, respectively.
Regarding selling price, engineered flooring ASP remains relatively
stable. However, the panel's ASP is lower than last year due to the
over-inventory situation in Japan market.
LATEST UPDATE
DSNG has been inducted into IDN Financials 52 for stocks with
high dividend
On 23 June 2023, Tempo.co and Idnfinancials.com collaboratively launched the
Tempo-Idnfinancials52 Index, comprising 52 issuers with the most qualified financial
performance on the Indonesia Stock Exchange (IDX) under four index categories,
namely Main Index 52, High Dividend Index 52, High Growth Index 52, and Big Market
Cap Index. The Index's creation involved several criteria, such as considering market
capitalization, a minimum free float rate of 7.5%, trading frequency, and volume,
number of investors, and an initial public offering (IPO) date before 2019.
DSNG is among 52 issuers listed under the High Dividend Index 52 category. The high
Dividend Index is a collection of 52 issuers with a maximum dividend yield of 24.21%
and a market cap of 60% of the total market cap on the IDX. The Index considered
DSNG managed to issue dividends in a continuously improving trend within the past
five years. This High Dividend Index52 award was presented to DSNG's CFO during
the Issuers' Appreciation Night of Indeks52.
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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