1st Quarter 2017, DSNG Revenue Rose by 62%
JAKARTA, April 28, 2017 - PT Dharma Satya Nusantara Tbk (DSNG, the Company) posted revenue of Rp 1.26 trillion in the first quarter of 2017, rose by 62% compared to the same period last year, driven by the increase of Fresh Fruit Bunches (FFB) production and higher CPO prices during the first three months of this year.
President Director of the Company Andrianto Oetomo said FFB harvested by the Company during the first three months of this year reached 389 thousand tons, an increase of 53% compared to the same period last year, as the rainfall has normalized following the El-Nino and additional nucleus mature area of approximately 4.248 hectares.
As of the end of March 2017, the Company's planted area reached 90,288 hectares with total mature area of 72,006 hectares and the average age of 8.6 years.
As a result, the Company's CPO production also rose by 37% to 99 thousand tons compared to the same period last year which reached 72 thousand tons .
In addition, CPO prices also tend to improve in the recent months. In the first quarter of 2017, the company's CPO average selling price reached Rp 8.8 million per ton, 15% higher compared to the first quarter of 2016 of Rp 7.7 million per ton.
In the wood product business segment, the Company was able to increase engineered floor sales volume by 10% to 334 thousand m2 in the first three months of 2017, despite the average selling price fell about 4.9%.
In the first quarter of 2017, the Company booked a gross profit of Rp 407 billion, rose by 124% compared to the first quarter of 2016, with a gross profit margin of 32%. Operating profit also rose by 239% to Rp 247 billion, with operating profit margin of around 20 percent.
Thus, the Company successfully booked a net income (attributable to owners of the Company) of Rp 120 billion, a significant increase by 749% compared to Rp 14 billion in the first quarter of 2016.
The Company has started the commissioning of seventh palm oil mill located in Muara Wahau, East Kutai, East Kalimantan Province and will start commercial operation in mid 2017 with production capacity of 60 tons FFB per hour. This will add our total mill capacity to 450 ton per hour.
ABOUT PT DHARMA SATYA NUSANTARA Tbk
PT Dharma Satya Nusantara Tbk (DSN Group) was established on September 29, 1980. DSN Group is engaged in the palm oil industry and wood products. Currently, the Company has oil palm plantations which located in East, Central and West Kalimantan. In the wood product industry, the Company has a wood-processing plant in East Java and Central Java, which manufactures wood panels, engineered doors and engineered flooring.
PT Dharma Satya Nusantara Tbk
Jl. Rawa Gelam V Kav. OR/3B
Kawasan Industri Pulogadung Jakarta 13930, Indonesia