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20240731_ANJT_Laporan Informasi dan Fakta Material_31689687_lamp3.pdf
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Page 1
31 JULY 2024
Table 1 : Production and Sales
6M2024 6M2023 Change Q2 2024 Q1 2024 Change
FFB Production (tonnes)
Photo: Corporate Communications FFB from our estates 370,650 407,560 (9.1%) 197,425 173,226 14.0%
Belitung Island 95,587 113,949 (16.1%) 40,318 55,270 (27.1%)
North Sumatra I 60,779 59,399 2.3% 33,742 27,037 24.8%
North Sumatra II 75,488 78,031 (3.3%) 40,347 35,141 14.8%
OPERATIONAL UPDATE West Kalimantan 86,349 94,330 (8.5%) 48,773 37,576 29.8%
Southwest Papua 49,228 57,560 (14.5%) 32,528 16,700 94.8%
South Sumatra 3,219 4,291 (25.0%) 1,717 1,502 14.3%
FFB bought from third parties 239,078 248,345 (3.7%) 137,575 101,503 35.5%
PT Austindo Nusantara Jaya Tbk (“ANJT” or Total FFB processed 606,508 651,614 (6.9%) 333,283 273,226 22.0%
FFB YIELD (tonnes per hectare)
“the Company”) announced its operational
Average yield 8.6 9.2 (6.4%) 4.6 4.0 15.0%
performance and financial results for the six- Belitung Island 8.4 9.2 (9.6%) 3.5 4.7 (25.4%)
month period ended 30 June 2024 (6M2024). North Sumatra I 9.3 8.5 9.7% 5.2 4.0 29.8%
North Sumatra II 9.7 10.1 (3.3%) 5.2 4.5 14.8%
West Kalimantan 9.5 10.6 (9.7%) 5.4 4.2 28.0%
The Company produced a total of 370,650 metric
Southwest Papua 6.6 7.8 (14.5%) 4.4 2.3 94.8%
tons (mt) of Fresh Fruit Bunches (FFB) from South Sumatra 4.4 5.9 (25.0%) 2.4 2.1 14.3%
our nucleus plantations in 6M2024, a decline of CPO Production (tonnes)
9.1% from the 407,560 mt produced in the same Total production 121,750 134,749 (9.6%) 65,150 56,601 15.1%
Belitung Island 27,991 39,454 (29.1%) 11,924 16,068 (25.8%)
period last year. Lower FFB output brought the
North Sumatra I 28,557 23,962 19.2% 15,993 12,565 27.3%
Company’s FFB yield per mature hectarage down North Sumatra II 23,429 24,944 (6.1%) 12,782 10,646 20.1%
from 9.2 mt per hectare (ha) in 6M2023 to 8.6 West Kalimantan 29,800 31,801 (6.3%) 16,541 13,259 24.7%
Southwest Papua 11,973 14,588 (17.9%) 7,910 4,063 94.7%
mt per ha in 6M2024. However, on a quarter to
Palm Kernel production 23,706 24,641 (3.8%) 12,252 11,454 7.0%
quarter basis (Q-on-Q), the Company recorded an PKO production 594 669 (11.2%) 444 150 196.0%
increase in FFB production of 14.0% to 197,425 mt Sales (tonnes)
in the second quarter 2024 (Q2 2024) from 173,225 CPO Sales 122,181 135,147 (9.6%) 66,325 55,857 18.7%
PK Sales 23,486 25,242 (7.0%) 12,351 11,135 10.9%
mt in the preceding quarter.
PKO Sales 650 549 18.3% - 650 N/A
PRODUCTIVITY
Despite the ongoing replanting, our North Sumatra Extraction Rate - CPO (Mixed) 20.1% 20.7% (2.7%) 19.5% 20.8% (6.1%)
I estate contributed a total FFB production of CPO Average Selling Price - USD 770 759 1.4% 781 757 3.1%
PK Average Selling Price - USD 420 378 11.1% 455 381 19.4%
60,779 mt in 6M2024, an increase of 2.3% from
PKO Average Selling Price - USD 748 749 (0.2%) - 760 N/A
COMPANY PROFILE SHARE INFORMATION SHAREHOLDERS STRUCTURE CONTACT US
PT Austindo Nusantara Jaya Tbk # shares 3,354.2 mn (as of 30 June 2024) % 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 765 Sjakon George Tahija 4.74 Jakarta 12950 - Indonesia
developing estates. ANJT also engages Lowest Rp 625 Yayasan Tahija 0.00 T: +62 21 29651777 | F: +62 21 29651788
in the production of sago starch and Close Rp 695 Public 8.83 E: investor.relations@anj-group.com
edamame. www.anj-group.com
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INVESTOR NEWSLETTER | 31 JULY 2024
the 59,399 mt achieved in 6M2023, representing a FFB yield FINANCIAL HIGHLIGHTS
of 9.3 mt per ha in 6M2024, 9.7% higher than the FFB yield
of 8.5 mt per ha in 6M2023. Meanwhile, FFB production from
our North Sumatra II slipped 3.3% to 75,488 mt in 6M2024 Our Financial Performance Results
compared to 78,031 mt in the same period last year. However,
the progress achieved in the ongoing embankment piling Table 2: Consolidated Statements of Comprehensive Income
project in this estate, coupled with fewer rainy days in Q2 6M2024 6M2023 (1)
2024 resulted in higher FFB production of 40,347 mt in Q2
USD Rp. USD Rp. Change
2024, an improvement of 14.8% Q-o-Q due in part to the flood Thousands Millions (2) Thousands Millions (2)
mitigation efforts.
Revenue 108,315 1,722,321 115,377 1,738,854 (6.1%)
Our Southwest Papua estate which struggled with plant Cost of revenue (95,580) (1,519,819) (106,081) (1,598,752) (9.9%)
diseases at the beginning of the year as well as frequent high Gross profit 12,735 202,502 9,296 140,102 37.0%
Total operating
rainfall, produced a total FFB of 49,228 mt in 6M2024, 14.5% expenses , net
(8,486) (134,935) (5,738) (86,474) 47.9%
below the 6M2023 figures. Similarly, the FFB production from Operating (loss)
4,249 67,567 3,558 53,628 19.4%
profit
our West Kalimantan estate decreased by 8.5% to 86,349
Finance income 174 2,774 145 2,187 20.3%
mt in 6M2024, compared to 94,330 mt in 6M2023. That said, Finance charges (5,143) (81,779) (4,910) (74,003) 4.7%
on a Q-o-Q basis, we saw a recovery at both our Southwest Loss before tax (719) (11,437) (1,207) (18,188) (40.4%)
Income tax
Papua and West Kalimantan estates compared to the previous (3,969) (63,116) (3,787) (57,069) 4.8%
expense
quarter as their FFB production increased by 94.8% and 29.8% Loss for the
(4,689) (74,554) (4,993) (75,257) (6.1%)
period
Q-o-Q in Q2 2024, respectively. However, the FFB production Other
from our Belitung Island estate slipped by 16.1% to 95,587 comprehensive (11,373) (180,836) 9,314 140,374 (222.1%)
(loss) income
mt in 6M2024 compared to 113,949 mt in 6M2023, primarily
Total
due to the impact of unfavorable weather conditions last year. comprehensive (16,061) (255,390) 4,321 65,117 (471.7%)
A similar impact was also seen at our developing plantation income
EBITDA 20,689 328,978 17,995 271,206 15.0%
in South Sumatra, which saw lower FFB production from this EBITDA margin
19.1% 19.1% 15.6% 15.6% 22.5%
estate of 3,219 mt in 6M2024, a drop of 25.0% from the 6M2023 (%)
output of 4,291 mt. (1) Restated due to the changes in presentation of shell sales and sales of RSPO certificates
form other income to revenue.
(2) The translation of US Dollar amounts into the Indonesian Rupiah amounts are included
Coupled with FFB purchased from third parties, we processed
solely for the convenience of the readers and has been made using the average of the
a total of 606,508 mt of FFB in our mills to produce 121,750 mt exchange rates of Rp 15,901 to USD 1 for 6M2024 and Rp 15,071 to USD 1 for 6M2023.
of Crude Palm Oil (CPO) in 6M2024, a drop of 9.6% compared
to the first half of 2023.The mixed oil extraction rate of 20.1% Revenue from Sales and Service Concessions
in the 6M2024 was 2.7% lower than in the equivalent period The Company posted a consolidated revenue of USD 108.3
in 2023. Our Palm Kernel (PK) production decreased by 3.8% million in 6M2024, a decrease of 6.1% compared to 6M2023
to 23,706 mt in 6M2024 compared to 24,641 mt in 6M2023. mainly due to the lower revenue generated from the palm oil
We also recorded a lower Palm Kernel Oil (PKO) production segment. Our consolidated revenue in 6M2024 consisted of
of 594 mt in 6M2024 compared to 669 mt in the same period 97.7% revenue from sales of palm oil products, whereas 2.3%
last year. was contributed by service concession revenue and sales of
edamame and sago starch. However, on a Q-on-Q basis, our
The Company reported a decrease in CPO sales volume total revenue climbed 21.4% to USD 59.4 million in Q2 2024
of 9.6% to 122,181 mt in 6M2024 compared to 135,147 mt from USD 48.9 million in the preceding quarter mainly due
in 6M2023, aligned with lower CPO production volume. In to the higher sales volume and ASPs for palm oil products in
addition, our sales volume from PK in 6M2024 dropped by Q2 2024.
7.0%. Meanwhile, our sales volume from PKO climbed 18.3%
to 650 mt in 6M2024 from 549 mt in 6M2023. Despite the dip, In 6M2024, our edamame business posted a positive
the Company recorded a higher average selling price (ASP) for performance in its sales revenue of USD 1.6 million, a jump
CPO of USD 770/mt in 6M2024, a slight uptick of 1.4% from the of 130.3% from USD 0.7 million in 6M2023 due to the increase
USD 759/mt achieved in the same period last year. Meanwhile, in sales volume and higher ASPs for edamame products. In
the ASP for PK increased by 11.1% year-over-year to USD 420/ addition, our sago segment contributed USD 638.5 thousand
mt in 6M2024 and the ASP for PKO stood at USD 748/mt. to our total revenue in 6M2024, an increase of 47.3% from the
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INVESTOR NEWSLETTER | 31 JULY 2024
USD 433.5 thousand in 6M2023 mainly due to the increase sales performance in Q2 2024. Consequently, we recorded a
in sales volume and ASP. Meanwhile, our renewable energy NPM ratio of negative 1.6% in Q2 2024, an improvement on the
segment contributed USD 232.2 thousand in 6M2024, lower negative 7.7% in Q1 2024.
than the USD 272.5 thousand achieved in 6M2023 due to
maintenance in Q2 2024. The Company also booked an improved EBITDA of USD 12.2
million in Q2 2024, up 18.3% from USD 8.5 million in the
Operating (Expenses) Income and Financial Charges
previous quarter. This brought the EBITDA for 6M2024 to
The Company recorded an operating expense (net of operating
USD 20.7 million, an increase of 14.9% compared to EBITDA
income) of USD 8.5 million, an increase of 47.9% from USD
of USD 18.0 million in the same period last year. This led to
5.7 million in 6M2023 mainly due to a foreign exchange loss
an increase in our EBITDA margin from 15.6% in 6M2023 to
of USD 1.3 million compared to a gain of USD 0.8 million in
19.1% in 6M2024.
6M2023 as a result of the depreciation of the Rupiah against
the US Dollar from Rp 15,026/USD 1 on 30 June 2023 to Rp Total Comprehensive Income
16,421/USD 1 on 30 June 2024. The weakening of the Rupiah against the US Dollar from Rp
15,416 at the end of 2023 to Rp 16,421 by the end of June 2024
Our financial charges, which represent interest expenses on has depreciated the net assets of some of the Company’s
our loans, increased by 6.0% to USD 5.2 million in 6M2024 subsidiaries (those which maintain their bookkeeping records
from interest expenses of USD 4.9 million in 6M2023 mainly in Rupiah) by USD 11.4 million when their financial statements
due to the increase in our outstanding bank loans in 6M2024. are translated from Rupiah to US Dollar, compared to a net
profit of USD 9.3 million in 6M2023. As a result, the Company
Net Profit
reported a negative comprehensive income of USD 16.1
The Company recognized a net loss of USD 4.7 million in
million in 6M2024 compared to a comprehensive income of
6M2024, a positive variance from a net loss USD 5.0 million in
USD 4.3 million in 6M2023.
the same period last year, mainly due to the decrease in road
maintenance and fertilizer costs at our mature plantations, as
Our Assets and Liabilities Position
well as mill overheads and indirect costs offset by the increase
Table 3: Consolidated Statements of Financial Position
in interest and personnel expenses in 6M2024. However, our
6M2024 6M2023
net profit margin (NPM) ratio of negative 4.3% in 6M2024 USD Rp. USD Rp. Change
remains equal to the NPM ratio in 6M2023. Thousands Millions(1) Thousands Millions(1)
Current
56,855 933,612 54,978 847,545 3.4%
assets
On a Q-on-Q basis, we recorded a net loss of USD 0.9 million Non-current
542,125 8,902,232 559,094 8,618,993 (3.0%)
assets
in Q2 2024, a marked improvement from the net loss of USD
Total Assets 598,980 9,835,843 614,072 9,466,538 (2.5%)
3.8 million in Q1 2024, primarily due to better production and Current
64,100 1,052,589 52,762 813,374 21.5%
liabilities
Non-current
125,615 2,062,724 135,985 2,096,343 (7.6%)
liabilities
Total
189,715 3,115,312 188,747 2,909,717 0.5%
Liabilities
Equity
attributable
to the
408,270 6,704,205 423,896 6,534,785 (3.7%)
owners
of the
Company
Total Equity 409,264 6,720,531 425,326 6,556,821 (3.8%)
1) The translation of US Dollar amounts into the Indonesian Rupiah amounts are
included solely for the convenience of the readers and has been made using the Bank
Indonesia middle rate as of 30 June 2024 of Rp 16,421 to USD 1 and as of 31 December
2023 of Rp 15,416 to USD 1.
The Company’s total assets declined to USD 599.0 million as
at 30 June 2024 from USD 614.1 million as at 31 December
2023. Non-current assets slid 3.0% to USD 542.1 million due
to the depreciation of bearer plants and property, plant and
equipment, as well as the weakening of the Rupiah against
the US Dollar during 6M2024.
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INVESTOR NEWSLETTER | 31 JULY 2024
Total liabilities slightly increased by 0.5% from USD 188.7 to increase the working capital of the Company amidst the
million at the end of 2023 to USD 189.7 million, driven by the challenging market conditions.
increase in short-term bank loans. The Company was still
able to maintain its prudent debt to equity and debt to asset
Key Performance (Quarterly)
ratios of 0.39 and 0.26, respectively as at 30 June 2024.
Graph 1: CPO Sales Volume and Average Selling Price Each Quarter
Financing Facilities
As of 30 June 2024, ANJT and its subsidiaries collectively
maintained bank loan facilities amounting to the equivalent
of USD 207.0 million, comprising short-term loan facilities of
USD 71.7 million and long-term loan facilities of USD 135.3
million.
The outstanding balance of the Company’s bank loans by
the end of June 2024 was USD 157.7 million, an increase of
USD 6.5 million from the USD 151.2 million as at the end of
December 2023, mainly due to additional short-term and
long-term bank loans of USD 9.9 million and USD 0.4 million
respectively, offset by a foreign exchange gain on our loans of
USD 3.8 million in 6M2024.
Graph 2: Net Profit and EBITDA Growth
OTHER CORPORATE UPDATES
The Annual General Meeting of the Company’s Shareholders
(AGMS) on 5 June 2024 approved the annual report,
sustainability report and annual financial statements for the
year ended on 31 December 2023. The AGMS also decided not
to distribute a dividend for the 2023 financial year, despite the
Company generating a net profit of USD 1,901,654 in 2023. This
net profit will be added to retained earnings which will be used
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
Names mentioned 8 people and organisations named in the text · linked when the evidence is strong
unresolved
person
Dr. Ide Anak Agung Gde Agung
p.1
unresolved
org
Bank Indonesia
p.3
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