Back to announcement
20240730_DSNG_Laporan Informasi dan Fakta Material_31688619_lamp2.pdf
Other Text extracted DSNGSource file signed link, expires in 15 minutes
Extracted text 4
Page 1
DSNG
INVESTOR
NEWSLETTER Volume: 54 – July 2024
A Continuation of Solid Performance
After solid Q1 results to kick off 2024, PT Dharma Satya Furthermore, the Company’s profits increased
Nusantara Tbk continued its strong performance in Q2- significantly by more than 40% YoY to IDR 508 billion,
2024 with a total revenue of IDR 4.7 trillion for 1H-24, representing a profit margin of 11%, against 8% in 1H-
reflecting an increase of 8% YoY. 2023, despite a meaningful negative swing in the foreign
exchange of around IDR 122 billion, from a gain of IDR 62
All business segments showed increasing revenue, billion in 2023 to a loss of IDR 61 billion in 2024. This forex
although the most significant contribution still came from swing was incurred following the accounting standard
the palm oil segment. The palm oil revenue amounted to requirement to translate foreign currency-denominated
IDR 4 trillion, an increase of 4% YoY, mainly supported by assets and liabilities using the prevailing Rupiah rate at
higher ASP. Meanwhile, the wood products segment also the reporting date. During 1H-24, the Rupiah depreciated
booked an increase in revenue by 11% YoY to IDR 0.6 by 7% against the USD, resulting in the equivalent Rupiah
trillion despite a stagnant global market. Further, the value of our USD loan balance increasing, even though
Renewable Energy segment generated a revenue the actual USD loan balance declined by 12% during that
contribution of almost 300% YoY to IDR 0.1 trillion, period. Excluding this non-cash forex, we arrived at the
following higher export volumes and ASP. core profit, which grew 78% yoy.
In addition to higher CPO ASP, lower fertilizer costs in 1H- As of 30 June 2024, our USD-denominated loan balance
2024 also positively contributed to the higher profitability of represented 20% of the total loans, with a total principal
the palm oil segment. Last year, fertilizer costs skyrocketed repayment for 1H-24 of only around 25% of the USD-
due to geopolitical tension in Ukraine. Moreover, higher denominated income generated by our wood products
OER achievement this year and fewer FFB external and renewable energy segments for the same period,
purchases also increased profitability. resulting in natural hedging.
Following higher revenue generation, EBITDA increased As we incurred no substantial capex during Q2-24, total
significantly by 33% YoY to IDR 1.4 trillion, given a assets, and liabilities in Q2-2024 grew very little against
satisfactory EBITDA margin of 29% in 1H-2024 against 24% Q1-2024, mainly correlating to forex translation
in 1H-2023.
In Million Rupiah In Million Rupiah
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
PALM OIL
1H-2024 1H-2023 %YoY Q1-2024 Q2-2024 %QoQ FY 2023
Plantation Performance
FFB Production (tons) 1,046,075 1,044,981 0.1 524,592 521,484 (0.6) 2,271,821
Nucleus (tons) 826,506 830,356 (0.5) 414,574 411,932 (0.6) 1,796,532
Plasma (tons) 219,569 214,625 2.3 110,018 109,552 (0.4) 475,289
Mill Performance
FFB Processed (tons) 1,233,092 1,345,418 (8.3) 619,102 613,990 (0.8) 2,854,559
CPO Production (tons) 296,518 304,335 (2.6) 149,550 146,968 (1.7) 661,892
PK Production (tons) 56,204 55,524 1.2 28,311 27,893 (1.5) 122,732
PKO Production (tons) 18,941 18,250 3.8 9,738 9,203 (5.5) 40,356
CPO OER (%) 24.05 22.62 6.3 24.16 23.94 (0.9) 23.19
FFA (%) 2.86 3.07 (6.9) 2.87 2.85 (0.7) 2.96
Sales Performance
CPO (tons) 292,032 298,563 (2.2) 145,800 146,232 0.3 665,041
PK (tons) 11,126 11,451 (2.8) 5,581 5,545 (0.6) 26,915
PKO (tons) 20,006 17,020 17.5 9,003 11,003 22.2 39,379
CPO ASP (Rp 'million/ton) 12.22 11.83 3.2 11.74 12.69 8.1 11.39
PKO ASP (Rp 'million/ton) 14.52 13.38 8.6 13.16 15.64 18.8 12.97
FFB production in Q2-2024 was only down by less than Despite the reduction in external FFB purchases driving lower
1% against Q1-2024 despite fewer working days FFB processing volume by 8%, the CPO production only
following the festive season Eid Mubarak in April 2024. shorted by 2.6% YoY due to higher OER from 22.62% to
Cumulatively, we recorded production of 1 million tons 24.05%. Likewise, both PK and PKO production increased
in 1H-2024, similar to 1H-2023, despite some impact due to higher extraction rates. We maintained the FFA level
from the El Nino occurrence from 2H-2023 to early below 3, resulting in super premium CPO.
2024.
CPO PRODUCTION (TON) 2023 2024 FFB PRODUCTION (TONS) 2023 2024
195,307
56,051
176,751
176,199
168,534
50,101
166,011
48,985
163,274
47,882
46,943
46,556
182,096
168,021
177,612
146,564
190,247
180,441
189,635
200,576
204,241
219,994
206,269
206,124
52,899
48,249
50,905
41,210
57,601
53,472
53,788
57,434
58,366
63,047
61,513
63,408
-
-
-
-
-
-
-
-
-
-
-
-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
CPO ASP (IDR '000/TON) KPB Medan 2023 KPB Medan 2024 YTD DSN 2023
YTD DSN 2024 DSN 2023 DSN 2024
12,858
12,527
12,060
12,015 11,803 12,616
12,488 12,038
11,394
12,014 10,958
11,481 11,642 10,929 11,135 11,019 11,308
10,510 11,135
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
OIL PALMS – PLANTED AREA
The total combined nucleus and plasma planted
Planted Hectarage
area as of 1H-2024 declined slightly compared to Average
Planted ('000 ha) Mature Total Planted
the end of 2023, from 112.7k ha to 112.2k ha Age (yrs)
('000 ha) ('000 ha)
following our replanting program. However, the
Nucleus 15.0 82.2 84.2
mature planted areas of the nucleus plantations
Plasma 12.1 24.6 27.9
increased from 81.5k ha to 82.2k ha following
Total 14.7 106.8 112.2
additional mature areas from our West Kalimantan
Plantation.
WOOD PRODUCTS
During 1H-24, our panel products could still seize more market share in Japan,
reflected by a 25% higher sales volume YoY, although at the expense of a lower ASP
of 12%. However, the Japanese market is still challenging, as its yen currency has
depreciated since the beginning of 2023, causing lower purchasing power for the
Japanese market.
Meanwhile, our Engineered Flooring products did not experience a significant drop
in ASP due to the product mix. Still, their sales volume was lower by 13% YoY,
reflecting the stagnant markets in the USA and Canada as the USD interest rate and
inflation are still hovering high.
1H-2024 1H-2023 %YoY Q1-2024 Q2-2024 %QoQ FY 2023
Sales Volume
Panel ('000 m3) 55.5 44.4 25.1 27.8 27.7 (0.1) 99.5
Engineered Flooring ('000 m2) 308.5 354.6 (13.0) 147.1 161.4 9.8 738.5
Average Selling Price (ASP)
Panel (USD/m3) 363.25 413.20 (12.1) 367.54 358.95 (2.3) 400.97
Engineered Flooring (USD/m2) 30.65 29.62 3.5 28.92 32.23 11.5 29.97
RENEWABLE ENERGY
During 1H-2024, the RE segment exported around 62 thousand tons of Palm
Kernel Shells (PKS) with a 13% YoY higher ASP. As a result, this segment
contributed a revenue of IDR 119 billion with a profit margin of more than 10%.
1H-2024 1H-2023 %YoY Q1-2024 Q2-2024 %QoQ FY 2023
Sales Volume
Palm Kernel Shell (ton) 62,070 18,897 228.5 30,019 32,050 6.8 40,397
Average Selling Price (ASP)
Palm Kernel Shell (USD/ton) 121.00 107.03 13.1 121.00 121.00 - 113.35
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
LATEST UPDATES
DSNG Collaboration with LPHD
On 22 April 2024, DSNG signed a long-term collaboration with the
Lemmanis Village Forest Management Institution (“Lembaga
Pengelolaan Hutan Desa Lemmanis”/LPHD Lemmanis) to manage 6.9
thousand ha village forest in Sepakat Jaya village, Ketapang Regency,
West Kalimantan, for 25 years until 2049, relating to RSPO’s Remediation
and Compensation Plan (RaCP).
CFES (Community Forest Ecosystem Services) will assist the Company
in providing technical and financing support for LPHD Lemmanis to
implement the Social Forestry Work Plan (Rencana Kerja Pehutanan
Sosial/RKPS), covering the improvement of Health and Education
services in the form of free medical treatment and scholarships for
students from the primary to university.
Corporate Emission Reduction Transparency Award 2024
On 24 May 2024, DSNG received an award from Investor Trust and Bumi
Global Karbon (GBK), recognizing the Company’s efforts in Emission
Reduction and Transparency. DSNG won the highest award under two
categories: the Green Elite award for the verified emission reduction efforts
and the Platinum Plus award for the verified transparency category.
The Company follows GRI (Global Reporting Initiative) and TCFD (Taskforce
on Climate-Related Financial Disclosure) as the standard for sustainability
reporting, including ESG and climate risk.
DSNG as the Constituents of Tempo-IDNFinancial Index 52 (Indeks52)
DSNG has been selected for two consecutive years to become one of the
Tempo-IDNFinancial Index 52 (Indeks52) constituents for the category of
High Dividend. The awarding ceremony was held on Friday, 26 July 2024,
in Balikpapan. The inclusion of DSNG in this Index demonstrates the
growing financial performance of the Company throughout the past five
years until June 2024.
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
Names mentioned 3 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Dharma Satya
p.1
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.