Back to announcement
20240430_ANJT_Laporan Informasi dan Fakta Material_31631934_lamp2.pdf
Other Text extracted ANJTSource file signed link, expires in 15 minutes
Extracted text 4
Page 1
30 APRIL 2024
Table 1 : Production and Sales
3M2024 3M2023 Change
FFB Production (tonnes)
FFB from our estates 173,226 187,060 (7.4%)
Belitung Island 55,270 54,070 2.2%
North Sumatra I 27,037 29,911 (9.6%)
North Sumatra II 35,141 40,423 (13.1%)
West Kalimantan 37,576 39,241 (4.2%)
Southwest Papua 16,700 21,716 (23.1%)
South Sumatra 1,502 1,699 (11.6%)
FFB bought from third parties 101,503 110,383 (8.0%)
Total FFB processed 273,226 295,744 (7.6%)
Photo: Corporate Communications FFB YIELD (tonnes per hectare)
Average yield 4.0 4.2 (4.5%)
Belitung Island 4.7 4.3 9.6%
North Sumatra I 4.0 4.1 (2.6%)
3M2024 OPERATIONAL UPDATE North Sumatra II 4.5 5.2 (13.1%)
West Kalimantan 4.2 4.4 (4.2%)
Southwest Papua 2.3 2.9 (23.1%)
South Sumatra 2.1 2.3 (11.6%)
CPO Production (tonnes)
PT Austindo Nusantara Jaya Tbk (“ANJT” or “the Company”) Total production 56,601 60,051 (5.7%)
announced its operational performance and financial results
Belitung Island 16,068 18,223 (11.8%)
for the three-month period ended 31 March 2024 (“3M2024”).
North Sumatra I 12,565 10,878 15.5%
North Sumatra II 10,646 12,991 (18.0%)
In the last five years, global palm oil production has been
West Kalimantan 13,259 12,975 2.2%
impacted by extreme weather conditions. Following the El
Southwest Papua 4,063 4,984 (18.5%)
Nino event in 2019 and the subsequent three consecutive
Palm Kernel production 11,454 11,517 (0.5%)
years of La Nina, the El Nino weather phenomenon reappeared
PKO production 150 239 (37.2%)
in the second quarter of 2023, leading to drier conditions
Sales (tonnes)
and drought in some regions in Indonesia while other areas
CPO Sales 55,857 58,103 (3.9%)
experienced extreme rainfall that also affected our production
Belitung Island 16,400 20,127 (18.5%)
performance. The Company produced a total of 173,226
North Sumatra I 13,598 10,314 31.8%
metric tons (“mt”) of Fresh Fruit Bunches (“FFB”) from our
North Sumatra II 10,850 14,169 (23.4%)
nucleus plantations in 3M2024, 7.4% lower than the 187,060
West Kalimantan 13,209 11,000 20.1%
mt FFB production in 3M2023. Lower FFB output brought the
Company’s FFB yield per mature hectarage down from 4.2 mt Southwest Papua 1,800 2,493 (27.8%)
per hectare (“ha”) in 3M2023 to 4.0 mt per ha in 3M2024. PK Sales 11,135 12,349 (9.8%)
PKO Sales 650 - N/A
Despite the drought and dry weather in 2023, our Belitung PRODUCTIVITY
estate, the Company’s main production contributor, recorded Extraction Rate - CPO (Mixed) 20.8% 20.4% 2.0%
a total FFB production of 55,270 mt in 3M2024, an increase CPO Average Selling Price - USD 757 776 (2.5%)
of 2.2% compared to 54,070 mt in 3M2023. In addition, our PK Average Selling Price - USD 381 382 (0.2%)
North Sumatra I estate produced 27,037 mt of FFB in 3M2024, PKO Average Selling Price - USD 760 - N/A
a 9.6% lower than the 29,911 mt achieved in the same period
last year. This decline primarily resulted from the ongoing
COMPANY PROFILE SHARE INFORMATION SHAREHOLDERS STRUCTURE CONTACT US
PT Austindo Nusantara Jaya Tbk # shares 3,354.2 mn (as of 31 March 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 700 Yayasan Tahija 0.00 T: +62 21 29651777 | F: +62 21 29651788
in the production of sago starch and Close Rp 715 Public 8.83 E: investor.relations@anj-group.com
edamame. www.anj-group.com
Page 2
INVESTOR NEWSLETTER | 30 APRIL 2024
replanting activities, which reduced our mature areas by 7.2%
to 6,780 ha compared to the same period last year.
FINANCIAL HIGHLIGHTS
The El Nino phenomenon in 2023 was quite different from El
Nino in 2019. The drought and dry weather only hit certain Our Financial Performance Results
areas, while our Southwest Papua and North Sumatra II
estates experienced high rainfall. High humidity conditions Table 2: Consolidated Statements of Comprehensive Income
in our Southwest Papua estate have exposed more areas 3M2024 3M2023
to plant diseases, which affected productivity. In 3M2024,
our Southwest Papua estate produced 16,700 mt of FFB, a USD Rp. USD Rp.
decline of 23.1% compared to 3M2023. We have implemented Thousands Millions (1) Thousands Millions (1)
comprehensive action plans to control these diseases since
January 2024 and we anticipate the productivity in this estate Revenue 48,914 765,796 51,128 779,289 (4.3%)
will recover starting in April 2024, putting us back on track to Cost of revenue (44,757) (700,714) (48,875) (744,946) (8.4%)
achieve our target in 2024.
Gross profit 4,157 65,082 2,253 34,343 84.5%
Total operating
In addition, our North Sumatra II estate continued to face (4,052) (63,446) (2,460) (37,500) 64.7%
expenses , net
challenges from frequent high rainfall, triggering flooding
Operating profit
from the nearby river. Aside from disrupting operational (loss)
105 1,637 (207) (3,157) 150.5%
activities, these floods also affected the upkeep and Finance income 99 1,550 84 1,283 17.6%
fertilization activities. Therefore, the productivity of our palm Finance charges (2,554) (39,988) (2,361) (35,986) 8.2%
trees is impacted. In 3M2024, this estate produced a total FFB Loss before tax (2,351) (36,801) (2,484) (37,859) (5.4%)
of 35,141 mt, a decrease of 13.1% from 40,423 mt in 3M2023. Income tax
(1,402) (21,946) (1,430) (21,797) (2.0%)
The Company will focus on finishing the embankment piling expense
project to mitigate the flood risk from the Batang Gadis river. Loss for the
(3,752) (58,747) (3,914) (59,656) (4.1%)
Once this project is completed, we expect the production from period
Other
this estate will be back on track.
comprehensive (5,211) (81,586) 8,787 133,934 (159.3%)
income (loss)
Extreme weather also affected productivity from our West Total
Kalimantan estate, where we saw a dip in our FFB production comprehensive (8,964) (140,333) 4,873 74,278 (283.9%)
to 37,576 mt, a decrease of 4.2% compared to the 39,241 income (loss)
achieved in the same period last year. Dry weather causes EBITDA 8,485 132,837 6,597 100,544 28.6%
heat stress to the pollinator beetles in this estate and affects EBITDA margin
17.3% 17.3% 12.9% 12.9% 34.4%
the pollination process, so the fruit produced is not optimal. (%)
This is known as parthenocarpy causing the fruit bunches to 1) The translation of US Dollar amounts into the Indonesian Rupiah amounts are included
have lower bunch weight and productivity. solely for the convenience of the readers and has been made using the average of the
exchange rates of Rp 15,656 to USD 1 for 3M2024 and Rp 15,242 to USD 1 for 3M2023.
Lastly, our development plantation in South Sumatra
experienced a decrease in FFB production of 11.6% due to Revenue from Sales and Service Concessions
the resting period after higher fruit production last year.
Our FFB output from this estate is anticipated to increase in The Company posted a total revenue of USD 48.9 million in
the coming months as our field surveys of the fruit potential 3M2024, a decrease of 4.3% compared to 3M2023, which
showed a positive improvement in the ripening process. aligns with the decrease in sales volume and ASPs for palm oil
products. The palm oil segment contributed 98.4% of our total
Lower FFB production from our nucleus plantations and less revenue, or USD 47.7 million, a decrease of 5.2% compared
FFB purchased from third parties, lowered the Company’s total to the USD 50.3 million achieved in 3M2023. Meanwhile, our
FFB processed by 7.6% to 273,226 mt in 3M2024. As a result, edamame business posted a positive performance in its sales
we recorded a 5.7% YoY decrease in total CPO production revenue of USD 0.7 million in 3M2024, a significant increase
of 56,601 mt compared to 60,051 mt of CPO production in of 97.1% from the USD 0.4 million in 3M2023 due to the
3M2023. This represented an extraction rate of 20.8%, a slight increase in sales volume and higher ASPs for fresh and frozen
uptick from 20.4% in the same period last year. In addition, edamame. Apart from the marketing channel of Asia Foods,
our Palm Kernel (PK) and Palm Kernel Oil (PKO) productions we penetrated the Indian market by independently exporting
decreased by 0.5% and 37.2%, respectively, in line with the our frozen edamame last year and successfully exported
decrease in FFB production in 3M2024. another batch of frozen edamame this year.
In 3M2024, the Company sold 55,857 mt of CPO, a decrease Our sago segment contributed USD 325.0 thousand to our
of 3.9% from 58,103 mt in the same period last year, which total revenue in 3M2024, an increase of 14.1% from the USD
aligns with lower CPO production in 3M2024. In addition, our 284.9 thousand in 3M2023, mainly due to the increase in sales
PK sales volume decreased by 9.8% to 11,135 mt from 12,349 volume and ASP. In addition, our renewable energy segment
mt in 3M2023. Meanwhile, our sales volume from PKO stood at contributed USD 147.3 thousand in 3M2024, higher than the
650 mt in 3M2024. The Company recorded an Average Selling USD 140.4 thousand achieved in 3M2023 due to the increase
Price (ASP) for its CPO of USD 757 per mt in 3M2024, 2.5% in electricity production as the result of major maintenance in
lower than the 3M2023 ASP of USD 776 per mt. Meanwhile, the our biogas plant last year. Our biogas plant in Belitung sold a
ASP for PK in 3M2024 was USD 381 per mt, a slight decrease total of 2.7 million kWh of electricity in 3M2024, 8.4% higher
from USD 382 per mt in the same period last year. In addition, than electricity sales of 2.5 million kWh in the same period
the ASP for PKO was USD 760 per mt in 3M2024. last year.
Page 3
INVESTOR NEWSLETTER | 30 APRIL 2024
Operating (Expenses) Income and Financial Charges Our Assets and Liabilities Position
The Company recorded an operating expense (net of operating Table 3: Consolidated Statements of Financial Position
income) of USD 4.1 million, an increase of 64.7% from USD
2.5 million in 3M2023 mainly due to a foreign exchange loss 31 March 2024 31 December 2023
USD Rp. USD Rp. Change
of USD 0.8 million compared to a gain of USD 0.8 million in
Thousands Millions(1) Thousands Millions(1)
3M2023 as a result of the depreciation of the Rupiah against
Current
the US Dollar from Rp 15,416/USD 1 at the end of 2023 to Rp assets
61,691 977,994 54,978 847,545 12.2%
15,853/USD 1 on 31 March 2024. Non-current
553,748 8,778,560 559,094 8,618,993 (1.0%)
assets
Our financial charges, which represent interest expenses on Total Assets 615,439 9,756,554 614,072 9,466,538 0.2%
our loans, increased by 8.2% to USD 2.6 million in 3M2024 from Current
65,714 1,041,770 52,762 813,374 24.5%
interest expenses of USD 2.4 million in 3M2023 mainly due liabilities
to the increase in our outstanding bank loans and additional Non-current
133,362 2,114,196 135,985 2,096,343 (1.9%)
liabilities
interest expense recognition from our newly matured in
Total
replanted area in North Sumatra I and Belitung Island. Liabilities
199,077 3,155,965 188,747 2,909,717 5.5%
Equity
Net Profit attributable
The Company recorded a net loss of USD 3.8 million in 3M2024, to the
415,113 6,580,790 423,896 6,534,785 (2.1%)
a positive variance from a net loss of 3.9 million in the same owners
of the
period last year, due to the decrease in cost of revenue offset Company
by the increase in interest and personnel expenses in 3M2024.
Despite this, our Net Profit Margin (NPM) ratio of negative Total Equity 416,362 6,600,589 425,326 6,556,821 (2.1%)
7.7% in 3M2024 remains equal to the NPM ratio in the same
period last year. 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 31 March 2024 of Rp 15,853 to USD 1 and as of 31 December
The Company booked EBITDA for 3M2024 of USD 8.5 million, 2023 of Rp 15,416 to USD 1.
an increase of 28.6% compared to EBITDA of USD 6.6 million
in 3M2023. Thus, our EBITDA margin increased from 12.9% in As of 31 March 2024, total assets slightly increased by 0.2%
3M2023 to 17.3% in 3M2024. to USD 615.4 million, mainly attributable to the increase in
inventories and biological assets.
Total Comprehensive Income
The weakening of the Rupiah against the US Dollar from Rp Total liabilities increased by 5.5% from USD 188.7 million at
15,416 at the end of 2023 to Rp 15,853 by the end of March the end of 2023 to USD 199.1 million, primarily driven by the
2024 has depreciated the net assets of some of the Company’s increase in short-term bank loans.
subsidiaries (those which maintain their bookkeeping records
in Rupiah) by USD 5.2 million when their financial statements The Company was still able to maintain its prudent debt to
are translated from Rupiah to US Dollar, compared to a net equity and debt to asset ratios of 0.48 and 0.32, respectively
profit of USD 8.8 million in 3M2023. As a result, the Company as at 31 March 2024.
reported a negative comprehensive income of USD 9.0 million
in 3M2024 compared to a comprehensive income of USD 4.9 Financing Facilities
million in 3M2023. As of 31 December 2023, ANJT and its subsidiaries collectively
maintained bank loan facilities amounting to the equivalent
of USD 195.2 million, comprising short-term loan facilities of
USD 66.9 million and long-term loan facilities of USD 128.3
million.
The outstanding balance of the Company’s bank loans by
the end of March 2024 was USD 158.4 million, an increase of
USD 7.2 million from the USD 151.2 million as at the end of
December 2023. This increase was mainly due to additional
short-term bank loans of USD 7.8 million in 3M2024, offset by
repayments of long-term bank loans of USD 0.5 million.
Page 4
INVESTOR NEWSLETTER | 30 APRIL 2024
OUTLOOK 2024 Key Performance (Quarterly)
Graph 1: CPO Sales Volume and Average Selling Price Each Quarter
Monetary policies and geopolitical issues will impact
Indonesia’s economic growth and CPO industry in 2024. 90.0 800
776 741 731 757
Interest rates continue to remain high as sticky inflation will 80.0 759 750
lead to a delay in US Federal Reserve to cut its benchmark 70.0
74.7 77.0 77.5 77.7 71.4
76.1 700
interest rate and the Bank of Indonesia recently decided to 60.1 58.1
60.0
56.6 55.9
increase the Rupiah benchmark interest rate to 6.25% on 24
650
50.0
April 2024. The persistently high interest rates are counter 40.0
600
to the earlier market expectations, which expected interest 550
rates to continue to decline during the course of 2024. Despite
30.0
500
Bank of Indonesia’s effort to stabilize the Rupiah exchange
20.0
rate against the USD by increasing its benchmark rate, the
450
10.0
Rupiah has depreciated to Rp 16,222/USD 1 as of 29 April -
Q1 Q2 Q3 Q4 Q1
400
2024, compared to Rp 15,416/USD 1 as of 31 December 2023, 2023 2024
a 5.2% decline. CPO Production ('000 tonnes) CPO Sales Volume ('000 tonnes) CPO Average Selling Price (USD/tonnes)
Considering these macro-economic issues combined with
the geopolitical issues in the Middle East which have caused Graph 2: Net Profit and EBITDA Growth
increases in crude oil prices, the Company has promptly taken
60,000 37.0%
measures to review all our work plans in 2024 and prioritize
32.0%
50,000
49,128
capital expenditures in key programs such as replanting in
27.0%
36,772
North Sumatera I and SMM and road infrastructure, especially
40,000
20.8% 20.8%
22.0%
in Southwest Papua estate that are critical to optimizing 30,000 15.7%
17.3% 17.0%
productivity. The management will also take active steps to 13.0% 12.0%
optimize our cash cost and operational expenses. 20,000 17,995 7.0%
0.8%
8,485 2.0%
OTHER CORPORATE UPDATES
6,597 0.0%
10,000
1,902
-7.7%
-3.0%
-4.3% 80
-
-7.7%
3M 6M 9M 12M 3M -8.0%
(3,914) (4,993) (3,752)
(10,000)
2023 2024 -13.0%
In March 2024, Sustainalytics, a Morningstar ESG and
Net Profit (thousand USD) EBITDA (thousand USD) Net Profit Margin (%) EBITDA Margin (%)
corporate governance research and ratings firm, assessed us
to have a Low-Risk Rating of 15.4, an improvement of 2.9 points
compared to our previous rating. That we are able to maintain
our outstanding performance in having a low ESG risk is due
to our strong risk management. This achievement places ANJ
in the first rank among global agriculture companies and the
second rank among global food products industry companies,
as assessed by Sustainalytics.
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
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.