DSNG Reports Strong Performance in the First Half of 2017
JAKARTA, 28 JULY 2017 - PT Dharma Satya Nusantara Tbk ("The Company", "DSNG") reported a strong performance in the first half of 2017. The Company recorded revenue of Rp 2.68 trillion in the first half of 2017, an increase of 44.3% compared to the same period last year.
The increase was driven by an improved performance in palm oil segment, which contributed about 84% to the total revenue of the Company. During the first six months of this year, revenue from the palm oil segment reached Rp 2.27 trillion, 71.1% higher compared to the same period last year, due to significant increase in CPO production and higher CPO prices. As of 30 June 2017, total CPO production was 212.4 thousand tons, an increase of 43.6% over the same period last year.
President Director of the Company, Andrianto Oetomo, said Fresh Fruit Bunches (FFB) production in the first semester of this year has started to recover from low production last year due to the continued impact of El-Nino.
“In addition, the CPO average selling price in the first semester of this year has also increased by 16.8%, thus improved the revenue performance of the Company," said Andrianto Oetomo.
The CPO average selling price in the first half of 2017 reached Rp 8.3 million per ton compared to the first semester of 2016 of Rp 7.1 million per ton.
As of 30 June 2017, the Company successfully booked a gross profit of Rp 808.8 billion, 100.4% higher compared to the same period last year, with a gross profit margin of 30.1%. Meanwhile our operating profit was Rp 501.5 billion, 191.5% higher compared to the same period last year, with an operating profit margin of 18.7 percent.
Thus, the comprehensive income for the this semester amounted to Rp 257.7 billion, nine times higher compared to the same period last year. The Company's net income (income attributable to the parent) was recorded of Rp 255.2 billion compared to the same period in 2016 of Rp 22.7 billion.
From the operational side, until 30 June 2017, the Company produced 833 thousand tons of FFB. Of these, about 744 thousand tons harvested from nucleus plantations and the rest from the plasma. Total FFBs processed by the Company reached 954 thousand tons, an increase of 56.3% compared to the first semester of 2016.
While in the wood product segment, sales volume of panel, engineered door and engineered flooring declined. Nevertheless, the average selling price of panels and engineered door increased respectively by 8.0% and 9.0%, while the average selling price of engineered flooring fell slightly by 1.6%.
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