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Page 1
PRESS RELEASE
For Immediate Release
REVENUE SURGED SHARPLY AND PROFIT SKYROCKETED
Maintaining sustainable growth through best agronomic practices
JAKARTA, April 30, 2025 – PT Cisadane Sawit Raya Tbk (Bloomberg Stock Code: CSRA IJ) today announced
its unaudited financial results for the quarter ended March 31, 2025 (1Q25), comparing them to the
corresponding period last year. The company continues to strengthen its position in the market by
focusing on sustainability and operational efficiency.
Performance Highlights
• CSRA recorded a 44.3% increase in revenue, reaching Rp275.53 billion, driven by higher prices and
increased sales of CPO, FFB, and kernel. This performance was achieved thanks to favorable
operational conditions and solid execution.
• The company's crude palm oil (CPO) production for 1Q25 was recorded at 13,007 tons, an increase
of 26.2% compared to the same period last year. This growth was driven by the continued optimal
performance of the company’s two palm oil mills.
• The company has maintained a solid and improvable financial position. As of March 31, 2025,
CSRA’s total assets reached Rp2.34 trillion, higher than the Rp2.25 trillion recorded on December
31, 2024. Meanwhile, the company’s total liabilities as of 3M25 amounted to Rp961.48 billion,
compared to Rp952.72 billion as of December 31, 2024.
• The company implemented technological advancements and efficiency initiatives that led to a
reduction in operating expenses to only Rp52.06 billion, down 1.4% from Rp52.82 billion in 1Q24,
despite a significant increase in production and revenue. This enabled the company to improve
profit margins and reinvest in the business. As a result, operating profit reached Rp68.49 billion,
soaring by 122.2% year-on-year, while net profit surged by 255.2% to Rp78.96 billion compared
to the same period last year.
• The net debt-to-equity ratio in 1Q25 stood at 0.63x, relatively stable compared to the 2024 level
of 0.63x.
The Indonesia’s palm oil industry faced various dynamics affecting production in the first quarter of 2025.
Nevertheless, through hard work and effective operational management, production during the quarter
managed to record an increase. Palm oil prices in the first quarter also showed stability and a
strengthening trend, supported by strong domestic biodiesel demand and favorable government policies.
1
HEAD OFFICE MEDAN OFFICE
Komplek CBD Pluit Blok R2 No. B-25 Jl. Karsa No.25 (Sei Agul)
Jl. Pluit Selatan Raya, Jakarta Utara 14440 Medan 201
T +6221 6667 3312-15 T +6261 661 4328
F +6221 6667 3310-11 F +6261 662 7913
Page 2
PRESS RELEASE
For Immediate Release
Summary of Consolidated Statement of Income
In IDR Billion 1Q 2025 1Q 2024 Change (%)
Net Sales 275.53 190.96 44.3%
Gross Profit 121.31 83.65 45.0%
Gross Profit Margin (%) 44.0% 43.8%
Operating Profit 68.49 30.83 122.2%
Operating Profit Margin (%) 24.9% 16.1%
EBITDA 154.93 66.71 132.2%
EBITDA Margin (%) 56.2% 34.9%
Net Profit 78.96 22.23 255.2%
Net Profit Margin (%) 28.7% 11.6%
Strong profitability is the result of solid performance
CSRA reported consolidated sales of Rp275.53 billion in 1Q25, reflecting a 44.3% increase compared to
1Q24. The rise in revenue was driven by a 46.9% increase in Fresh Fruit Bunches (FFB) sales, a 37.9%
increase in Crude Palm Oil (CPO) sales, and a 95.9% increase in Kernel (PK) sales.
Gross profit reached Rp121.31 billion, resulting in a gross margin of 44.0%. In addition to the rising CPO
prices, this performance was achieved through improved supply chain management, mechanization, and
an increased contribution from CPO and PK sales.
The Fresh Fruit Bunches (FFB) yield stood at 3.6 tons/ha, better than the 1Q24 level of 3.5 tons/ha.
However, the Oil Extraction Rate (OER) in 1Q25 decreased from 21.1% in 1Q24 to 20.3%, while the Kernel
Extraction Rate (KER) dropped from 4.6% in 1Q24 to 4.4% in 1Q25. CPO production, along with OER and
KER, is expected to improve in 3Q25 with the operation of the company’s third Palm Oil Mill (PKS) in
Banyuasin Regency in July.
The company continues to improve crop yields to ensure its internal production levels. The yield
improvement process aims to surpass current conditions by enhancing output and adopting pricing
strategies to ensure future sustainability. Meanwhile, the company will continue to focus on technology
by optimizing harvest mechanization and transportation.
2
HEAD OFFICE MEDAN OFFICE
Komplek CBD Pluit Blok R2 No. B-25 Jl. Karsa No.25 (Sei Agul)
Jl. Pluit Selatan Raya, Jakarta Utara 14440 Medan 201
T +6221 6667 3312-15 T +6261 661 4328
F +6221 6667 3310-11 F +6261 662 7913
Page 3
PRESS RELEASE
For Immediate Release
Table 1. Production Highlights
Mar’25 Mar’24 Change
Planted Areas 21,075 20,321 3.7%
FFB Nucleus (in MT) 62,905 60,891 3.3%
FFB Yield (tonnes/ha) 36% 3.5%
CPO Production (in MT) 13,007 10,307 26.2%
OER 20.3% 21.1%
Kernel Production (in MT) 2,790 2,227 25.3%
KER 4.4% 4.6%
Although the OER and KER figures are lower in the table above, this is due to technical factors that have
been measured and carefully anticipated. As a proactive step, the company has conducted evaluations
and improvements in the production process to minimize the impact of existing technical challenges.
Going forward, the company will continue to focus on sustainable and profitable growth, while upholding
social and environmental responsibility. With this commitment, CSRA aims to maintain operational
integrity and create long-term value that can be enjoyed by all stakeholders.
CSRA’s operating profit for 1Q24 reached Rp68.49 billion, showing a sharp increase of 122.2% compared
to the previous year. On the bottom line, CSRA’s net profit soared by 255.2% YoY to Rp78.96 billion in
1Q25, with a net margin of 28.7%. The company will continue to emphasize efficient operational patterns
and focus on optimizing production while adapting to external changes such as economic factors,
technological advancements, and government regulations, in order to achieve its performance targets for
2025.
Table 2. Highlight of Consolidated Statement of Income (Unaudited)
In Billion IDR
1Q 2025 1Q 2024 %
Sales 275.53 190.96 44.3%
COGS -154.21 -107.29 43.7%
Gross Profit 121.31 83.65 45.0%
Gross Margin 44.0% 43.8%
Operating Expenses -52.06 -52.82 -1.4%
Operating Profit 68.49 30.83 122.2%
Operating Margin 24.9% 16.1%
3
HEAD OFFICE MEDAN OFFICE
Komplek CBD Pluit Blok R2 No. B-25 Jl. Karsa No.25 (Sei Agul)
Jl. Pluit Selatan Raya, Jakarta Utara 14440 Medan 201
T +6221 6667 3312-15 T +6261 661 4328
F +6221 6667 3310-11 F +6261 662 7913
Page 4
PRESS RELEASE
For Immediate Release
1Q 2025 1Q 2024 %
Gain Arising from Changes in Fair Value of
Biological Assets 59.4 13.12 352.7%
Gain from Foreign exchanges – Net 0.01 0.01 0.0%
Tax Penalties and Expenses 0.00 0.00 0.0%
Other Expenses - Net 0.67 -0.06 578.6%
EBIT 130.49 43.82 197.8%
EBIT Margin 47.4% 22.9%
Financial Income 0.00 0.31 -100.0%
Finance Expenses -14.18 -11.93 18.9%
Profit Before Tax 116.26 32.28 260.2%
Tax Income -37.30 -10.05 271.1%
Profit For the Period 78,96 22.23 255.20%
Net Margin 28.7% 11.6%
Non-Controlling Interest
Profit for the Period Attributable of Owner and
Parent Entity 0,00 0.00 0.0%
Profit for the Period Attributable of Owner and 78.96 22.23 255.20%
Parent Entity
EBITDA 154.93 66.71 132.2%
EBITDA Margin 56.2% 34.9%
The balance sheet as the foundation for making the right business decisions
As of the end of March 2025, total assets reached Rp2.34 trillion, an increase of 3.9% compared to Rp2.25
trillion on December 31, 2024. Non-current assets rose by 2.7% to Rp1.84 trillion compared to the end of
2024, with the largest increase coming from receivables from related parties. Meanwhile, current assets
in March 2025 increased by 8.3% compared to FY24, driven by higher sales. The largest increase in current
assets came from liquid current assets, which include inventory and biological assets.
Meanwhile, total liabilities amounted to Rp961.48 billion, an increase of 0.9% compared to Rp952.72
billion at the end of 2024. The company’s equity position reached Rp1.38 trillion as of March 31, 2025, a
6.1% increase compared to Rp1.29 trillion at the end of 2024. The company will continue to maintain a
balanced capital position as a strategic step to support long-term stability and strengthen the planned
business growth. In addition, the company has successfully maintained a solid balance sheet and has the
potential for further improvement, allowing CSRA to maintain an optimal working capital level to fund
core operations. Therefore, the company is committed to continuously increasing revenue and profit
sustainably, while strengthening the financial foundation that supports long-term goals.
4
HEAD OFFICE MEDAN OFFICE
Komplek CBD Pluit Blok R2 No. B-25 Jl. Karsa No.25 (Sei Agul)
Jl. Pluit Selatan Raya, Jakarta Utara 14440 Medan 201
T +6221 6667 3312-15 T +6261 661 4328
F +6221 6667 3310-11 F +6261 662 7913
Page 5
PRESS RELEASE
For Immediate Release
Tabel 3. Consolidated Balance Sheet
In IDR Billion
1Q 2025 FY2024
Assets
Current Assets
Cash and cash equivalents 88.41 133.27
Trade Receivables from Third Parties - Net 13.98 18.37
Other Receivables from Third Parties 5.63 4.72
Inventories - net 55.16 41.84
Biological Assets 251.15 191.76
Prepaid Taxes 33.55 32.42
Advanced and Prepaid Expenses 54.04 40.91
Total Current Assets 501.95 463.28
Non-Current Assets
Due from Related Parties 20.39 11.95
Plasma Receivables 74.34 67.34
Investment Properties 0.59 0.68
Bearer Plants:
- Mature Plantation - Net of Accumulated 558.17 560.73
Depreciation
- Immature Plantations 181.17 175.90
- Nurseries 15.72 15.01
Fixed Assets - Net of Accumulated Depreciation 951.48 920.31
Tax Amnesty Assets - Net of Accumulated
Deferred tax asset 0.00 0.03
Other Assets 20.77
Goodwill 14.67 14.67
Total Non-Current Assets 1,837.04 1,787.99
TOTAL ASSETS 2,338.99 2,251.26
Liabilities
Bank Loan 0 0
Trade payables 52.86 50.59
Other Payables 28.39 29.25
Taxes Payables 18.91 16.32
Accrued Expenses 14.18 14.56
Advances from customers 6.64 1.09
Long term Liabilities – Current Maturities:
- Bank Loans 153.8 134.20
- Consumer Financing Loans 2.98 3.28
- Rent Liabilities Payment 1.66 1.45
Total Current Liabilities 279,42 250.76
Due to Related Party 33.23 33.23
Long-term Employee Benefits Liability 56.01 57.11
Deferred Tax Liabilities 71.97 56.98
Long term Liabilities – Net of Current Maturities
5
HEAD OFFICE MEDAN OFFICE
Komplek CBD Pluit Blok R2 No. B-25 Jl. Karsa No.25 (Sei Agul)
Jl. Pluit Selatan Raya, Jakarta Utara 14440 Medan 201
T +6221 6667 3312-15 T +6261 661 4328
F +6221 6667 3310-11 F +6261 662 7913
Page 6
PRESS RELEASE
For Immediate Release
1Q 2025 FY2024
- Bank Loans 518.65 551.83
- Consumer Financing Loans 1.88 2.46
- Finance lease liabilities 0.44 0.35
Total Non-Current Liabilities 682.06 701.96
TOTAL LIABILITIES 961.48 952.72
EQUITY
Equity attributable to owners of the Parent Entity 1,377.49 1,298.53
Non-controlling interests 0.015 0.015
TOTAL EQUITY 1,377.51 1,298.55
TOTAL LIABILITIES AND EQUITY 2,338.99 2,251.26
Key Financial Ratios
The gross profit margin for 1Q25 was 44.0%, higher than 1Q24’s 43.8%. Additionally, the operating margin
increased significantly to 24.9%, up from 16.1% in 1Q24. On the bottom line, the company successfully
raised its net margin to 28.7% in 1Q25, up from 11.6% in 1Q24. This improvement in performance reflects
the implementation of best agronomic practices, supported by the increase in the average selling price
achieved by the company.
The company manages its finances wisely, involving cost control, efficient cash flow management, and
thorough financial planning. CSRA's current ratio was 1.79x in 1Q25, up from 1.84x in FY24. The net debt-
to-equity ratio stood at 0.63x in 1Q25, relatively the same as the 0.63x recorded in 2024. The Asset/Equity
ratio slightly decreased to 1.69x at the end of March 2025, compared to 1.73x in FY24.
CSRA recognizes that understanding and managing risks is a crucial element in maintaining business
stability. The company identifies potential risks, whether economic, legal, or operational, and prepares
mitigation strategies to address any uncertainties that may arise.
Table 5. Financial Ratio Highlights
UOM 3M25 3M24
Profitability ratios
Gross Margin 44.0% 43.8%
Operating Margin 24.9% 16.1%
EBITDA Margin 56.2% 34.9%
Net Margin 28.7% 11.6%
6
HEAD OFFICE MEDAN OFFICE
Komplek CBD Pluit Blok R2 No. B-25 Jl. Karsa No.25 (Sei Agul)
Jl. Pluit Selatan Raya, Jakarta Utara 14440 Medan 201
T +6221 6667 3312-15 T +6261 661 4328
F +6221 6667 3310-11 F +6261 662 7913
Page 7
PRESS RELEASE
For Immediate Release
UOM 3M25 FY2024
Leverage
Current Ratio x 1.79 1,84
Asset/Equity x 1.69 1,73
Interest Bearing Debts/Equity x 0.55 0,59
Net Debts/Equity x 0.63 0,63
2025 Outlook
Overall, 2025 is an important period for Indonesia’s palm oil industry. Government policies related to
biodiesel and plant rejuvenation are expected to enhance productivity and competitiveness of the
national palm oil industry on the global stage. Palm oil prices are expected to be higher in 2025 compared
to the previous year, driven by increased domestic biodiesel demand in Indonesia and policies aimed at
raising the mandatory biodiesel blend.
CSRA will hold its Annual General Meeting of Shareholders (AGMS) on May 7, 2025, in Jakarta, followed
by a Public Expose after the AGMS. The company will also proceed with its original plan to commission its
third Palm Oil Mill (PKS 3) in June 2025. PKS 3 is located in Banyuasin Regency, South Sumatra, and
operates under one of CSRA’s subsidiaries, PT Sukses Sawit Gasing (SSG).
Seman Sendjaja, Director of Finance and Strategic Development, stated, 'The company continues to strive
to improve crop yields to ensure the stability and smoothness of its internal production. This yield
improvement process aims not only to surpass current conditions but also to enhance the quality and
quantity of the output. In addition, the company adopts a careful pricing strategy to ensure
competitiveness in the market and guarantee the sustainability of operations in the future. The
implementation of an effective pricing strategy is expected to maintain profit margins, while efforts to
improve yields will continue to be driven by operational innovation.
He added, “On the other hand, the company will continue to focus on technology development by
integrating harvest mechanization and transportation as part of operational efficiency. This
mechanization not only accelerates the harvesting process but also reduces reliance on manual labor,
improves accuracy, and minimizes waste. Additionally, the use of more efficient transportation
technology will help speed up distribution, reduce logistics costs, and enhance competitiveness. With this
commitment, the company is confident in achieving long-term success while supporting the sustainable
growth of the industry.”
.
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7
HEAD OFFICE MEDAN OFFICE
Komplek CBD Pluit Blok R2 No. B-25 Jl. Karsa No.25 (Sei Agul)
Jl. Pluit Selatan Raya, Jakarta Utara 14440 Medan 201
T +6221 6667 3312-15 T +6261 661 4328
F +6221 6667 3310-11 F +6261 662 7913
Page 8
PRESS RELEASE
For Immediate Release
PT CISADANE SAWIT RAYA TBK – CSRA at glance
PT Cisadane Sawit Raya Tbk. and its subsidiary entities are
national players that develop palm oil plantations in North
Sumatra Province and South Sumatra Province. The Company
always prioritizes effectiveness and efficiency in utilizing
resources to become reputable and integrated agribusiness
companies. The company has a Palm Oil Mill (PKS) in the
plantation area which began operating in 2007 with a capacity of
45 tons per hour (tph) after overhaul conducted in July 2022, a
brand new 45 tph PKS in Tapanuli Selatan regency and currently
developing another PKS with a capacity of 30 tph in Banyuasin
regency. The Company has a total area of 29,000 hectares with
an embedded area around 18,783 hectares. Its FFB production
reached 319,071 tons per year. CSRA publicly listed on the
Indonesian Stock Exchange (IDX) on 9th January 2020.
For more information, please contact:
Iqbal Prastowo - Corporate Secretary
T +6221 6667 3312-15 | F +6221 6667 3310-11
E corpsec@csr.co.id | iqbal@csr.co.id
W www.csr.co.id
Follow Company’s Social Media for news updates and vacancies:
csr.official @csra.official Cisadane Sawit Raya Tbk - CSRA cisadane sawit raya
This press release has been prepared by PT Cisadane Sawit Raya Tbk.(“CSRA”) and is circulated for the purpose of general information only. It is not intended for any specific person or
purpose and does not constitute a recommendation regarding the securities of CSRA. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All
opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. CSRA disclaims any responsibility or liability
whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither CSRA nor any
of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this pr ess release and any inaccuracy herein or
omission here from which might otherwise arise.
Forward-Looking Statements
Certain statements in this release are or may be forward-looking statements. These statements typically contain words such as “will”, “expects” and “anticipates”
and words of similar import. By their nature, forward-looking statements involve a number of risks and uncertainties that could cause actual events or results to differ
materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions
in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental
regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand
and selling prices for our developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition
from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and
public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and remediation. Should one or more
of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipa ted or projected. Specifically, but without
limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized.
Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently
available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly re ly on such statements. In any event,
these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future
events or otherwise.
8
HEAD OFFICE MEDAN OFFICE
Komplek CBD Pluit Blok R2 No. B-25 Jl. Karsa No.25 (Sei Agul)
Jl. Pluit Selatan Raya, Jakarta Utara 14440 Medan 201
T +6221 6667 3312-15 T +6261 661 4328
F +6221 6667 3310-11 F +6261 662 7913
Names mentioned 3 people and organisations named in the text · linked when the evidence is strong
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PT Sukses Sawit Gasing
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