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20250729_DSNG_Laporan Informasi dan Fakta Material_31928289_lamp2.pdf
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Page 1
Volume: 58 – July 2025
DSNG
INVESTOR NEWSLETTER
Enhanced Profitability with Strategic Deleveraging
Profit and Loss 1H-2025 1H-2024 % FY 2024 PT Dharma Satya Nusantara Tbk (DSNG) has
Revenue 6,080,855 4,703,274 29.3 10,119,220 continued to deliver a robust financial
- Palm Oil 5,393,502 4,025,821 34.0 8,784,344 performance in the first half of 2025, achieving
- Wood Product 621,266 558,395 11.3 1,152,074
- Renewable Energy 66,088 119,057 (44.5) 182,802
revenue of IDR 6 trillion, representing a 29% year-
Cost of Revenue (4,125,442) (3,369,705) 22.4 (7,115,019) over-year (YoY) increase. The Palm Oil segment
Gross Profit 1,955,413 1,333,569 46.6 3,004,201 saw its revenue soar by 34% to IDR 5 trillion,
-Margin % 32.2% 28.4% - 29.7% following improved sales volume and notably
Profit Before Tax 1,249,637 687,857 81.7 1,640,016 higher average selling prices (ASP) of Crude Palm
-Margin % 20.6% 14.6% - 16.2%
Oil (CPO), solidifying the Palm Oil segment's
EBITDA 2,003,558 1,379,943 45.2 3,096,491
-Margin % 32.9% 29.3% - 30.6% contribution to nearly 90% of consolidated
Profit 914,639 508,198 80.0 1,141,375 revenue.
-Margin % 15.0% 10.8% - 11.3%
Core Profit* 918,803 555,772 65.3 1,181,098 The wood products segment also demonstrated
-Margin % 15.1% 11.8% - 11.7%
positive growth, increasing by 11% to IDR 621
*Core Profit calculated from net profit & adjusted to the unrealized billion.
foreign exchange gains/losses, net of tax effects.
Conversely, the renewable energy segment faced a 45% decline in revenue, falling to IDR 66 billion, due to
a shift in shipments to the latter half of the year, influenced by recent dynamics in the export market.
Despite a 22% YoY rise in the cost of revenue following increased external fruit purchases in the Palm Oil
segment, DSNG successfully enhanced its profitability. Profit surged by 80% YoY to IDR 915 billion,
improving the profit margin from 11% to 15%. EBITDA also experienced a substantial 45% increase,
reaching IDR 2 trillion, reflecting effective cost management and firm performance in the core business
area.
DSNG's financial position has significantly strengthened. Financial Position 30-Jun-25 31-Dec-24 %
Total assets saw a modest growth of just under 1% Total Asset 17,544,731 17,412,416 0.8
year-over-year (YoY). As of June 30, 2025, the cash and Total Liabilities 6,987,173 7,515,101 (7.0)
cash equivalents balance was exceptionally high, Equity 10,557,558 9,897,315 6.7
representing 26.5% of total current assets or 5% of total
assets. This substantial cash reserve is earmarked for dividend payments and bond repayment due the
following month.
Total liabilities decreased by 7% YoY, demonstrating the Company's commitment to a strategic
deleveraging approach. Notably, only 11% of total debt is denominated in USD, enhancing the Group's
resilience against currency fluctuations. Furthermore, total Equity rose by nearly 7% YoY, highlighting a
more robust financial standing and prudent debt management practices.
DSNG Investor Newsletter —For further information, contact Investor Relations (investor.relations@dsngroup.co.id)
PT Dharma Satya Nusantara Tbk. Jl. Pulo Ayang Kav. OR No. 3 Kawasan Industri Pulogadung, Jakarta 13930 Indonesia
Page 2
INVESTOR NEWSLETTER
PALM OIL
1H-2025 1H-2024 %YoY Q1-2025 Q2-2025 %QoQ FY-2024
Plantation Performance
FFB Production (tons) 1,087,390 1,046,075 3.9 478,835 608,556 27.1 2,109,737
Nucleus (tons) 858,920 826,506 3.9 378,100 480,819 27.2 1,661,979
Plasma (tons) 228,470 219,569 4.1 100,734 127,736 26.8 447,757
Mill Performance
FFB Processed (tons) 1,332,814 1,233,092 8.1 591,444 741,370 25.3 2,515,086
CPO Production (tons) 310,992 296,518 4.9 137,611 173,380 26.0 601,508
PK Production (tons) 59,261 56,204 5.4 26,008 33,253 27.9 114,210
PKO Production (tons) 18,780 18,941 (0.8) 8,064 10,716 32.9 38,217
CPO OER (%) 23.33 24.05 (3.0) 23.27 23.39 0.5 23.92
FFA (%) 3.05 2.86 6.5 3.06 3.05 (0.5) 2.86
Sales Performance
CPO (tons) 312,220 292,032 6.9 134,644 177,576 31.9 601,111
PK (tons) 13,867 11,126 24.6 6,438 7,429 15.4 23,665
PKO (tons) 18,512 20,006 (7.5) 7,506 11,006 46.6 38,513
CPO ASP (Rp 'million/ton) 14.57 12.22 19.3 14.91 14.32 (3.9) 12.79
PKO ASP (Rp 'million/ton) 29.51 14.52 103.2 27.35 30.99 13.3 17.81
DSNG's solid operational performance in the first half of 2025 was influenced primarily by strong CPO
prices. Despite a 4% QoQ decrease in CPO ASP during the second quarter, the first-half 2025 CPO ASP
remained strong at IDR 14.6 million/ton, representing a 19% increase YoY, which significantly bolstered the
profitability of the palm oil segment.
In addition, favorable weather and adequate rainfall led to a 27% surge in second-quarter FFB production
(both Nucleus and Plasma) compared to the prior quarter, resulting in the YTD June 2025 FFB production
reaching 1 million tons, a 4% increase YoY.
Moreover, increased availability of external FFB around DSNG's CPO mills allowed for a 29% YoY increase in
external FFB purchases, resulting in a 5% YoY rise in CPO production. However, heavier rainfall in the
second quarter led to a lower Oil Extraction Rate (OER) and higher Free Fatty Acid (FFA) levels compared to
the same period last year.
FFB PRODUCTION (TONS) CPO PRODUCTION (TON)
2024 2025 2024 2025
223,542
198,781
186,233
62,386
179,979
57,717
53,278
156,479
50,990
142,376
46,212
40,410
176,199
195,307
166,011
163,274
176,751
168,534
166,215
179,692
163,105
187,466
183,083
184,099
56,051
46,943
46,556
48,985
50,101
47,882
46,274
50,510
47,499
54,915
52,172
53,621
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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
DSNG Investor Newsletter —For further information, contact Investor Relations (investor.relations@dsngroup.co.id)
PT Dharma Satya Nusantara Tbk. Jl. Pulo Ayang Kav. OR No. 3 Kawasan Industri Pulogadung, Jakarta 13930 Indonesia
Page 3
INVESTOR NEWSLETTER
KPB Medan 2024 KPB Medan 2025
CPO ASP (IDR '000/TON)
YTD DSN 2024 YTD DSN 2025
15,133 13,578
15,048
14,471 15,001
14,277 12,788
12,959 12,962 13,196 13,467 14,448
12,858 12,616 12,563
12,527
11,481 11,642 12,014
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
PALM OIL - PLANTED AREA
DSNG manages a total planted area of 110.7
thousand hectares, encompassing both
Nucleus and Plasma plantations. As part of its
replanting program, the Company felled
approximately 3,000 hectares and replanted
around 1,400 hectares by the end of
December 2024.
WOOD PRODUCT
1H-2025 1H-2024 %YoY Q1-2025 Q2-2025 %QoQ FY-2024
Sales Volume
Panel ('000 m3) 62.3 55.5 12.4 28.9 33.4 15.6 116.1
Engineered Flooring ('000 m2) 324.6 308.5 5.2 151.2 173.4 14.7 626.5
Average Selling Price (ASP)
Panel (USD/m3) 358.20 363.25 (1.4) 358.93 357.56 (0.4) 360.3
Engineered Flooring (USD/m2) 33.72 30.42 10.9 32.07 35.16 9.6 32.3
The performance of DSNG's Panel and Engineered Flooring segments in the second quarter was primarily
impacted by uncertainty surrounding US reciprocal tariffs and broader geopolitical tensions.
Despite these challenges, the Panel segment demonstrated resilience, continuing its momentum from
the previous quarter with a sales volume growth of approximately 16% at relatively stable prices in Q2
2025. This was largely due to Japan being its primary market, making it less affected by the US tariffs.
Conversely, the Engineered Flooring segment also saw stronger performance, despite approximately 40%
of its exports destined for the USA. It experienced a nearly 15% jump in sales volume and a 10% price
increase quarter-over-quarter (QoQ).
Overall, the Wood Product segment's revenue in the first half of 2025 achieved a modest 11% year-over-
year (YoY) growth, contributing 10% to the consolidated revenue.
DSNG Investor Newsletter —For further information, contact Investor Relations (investor.relations@dsngroup.co.id)
PT Dharma Satya Nusantara Tbk. Jl. Pulo Ayang Kav. OR No. 3 Kawasan Industri Pulogadung, Jakarta 13930 Indonesia
Page 4
INVESTOR NEWSLETTER
RENEWABLE ENERGY
1H-2025 1H-2024 %YoY Q1-2025 Q2-2025 %QoQ FY-2024
Sales Volume
Palm Kernel Shell (ton) 24,330 62,070 (60.8) 11,994 12,335 2.8 94,933
Wood Pellet (ton) 10,651 - 100 10,461 190 (98.2) -
Average Selling Price (ASP)
Palm Kernel Shell (USD/ton) 105.59 121.00 (12.7) 106.04 105.15 (0.8) 121.93
Wood Pellet (USD/ton) 134.88 - 100.0 135.00 128.00 (5.2) -
In the first half of 2025, Palm Kernel Shell (PKS) sales reached 24 thousand tons, a decrease from 62
thousand tons YoY. This decline was primarily due to a temporary shift in shipments to the latter half of
the year, alongside a 13% lower ASP.
Concurrently, Wood Pellet production began its debut with its first shipment in Q1 2025. However, sales
in Q2 remained marginal as the factory is not yet fully commercial and continues to undergo operational
adjustments.
DSNG Recognition and Accolades
DSNG's strong performance has garnered significant
recognition from both national and international
institutions. In Q2 2025, DSNG was once again named
in the Fortune Top 500 Southeast Asia, an esteemed
acknowledgment of the region's top-performing
companies based on revenue and profitability.
The Company is also a constituent of several key
Indonesia Stock Exchange (IDX) indices, including
IDX80, BISNIS-27, KOMPAS100, PEFINDO I-GRADE,
SRI-KEHATI, ESG SL KEHATI, ESGQ KEHATI,
IDXVESTA28, IDXSHAGROW, and JII70.
These inclusions highlight DSNG's consistent financial strength and commitment to sustainable practices.
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. Pulo Ayang Kav. OR No. 3 Kawasan Industri Pulogadung, Jakarta 13930 Indonesia
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