Quarter III 2017, DSNG Performance Significantly Improved
JAKARTA, 31 OCTOBER 2017 - PT Dharma Satya Nusantara Tbk (“The Company”, “DSNG”) posted a net income of Rp 412.4 billion in the first nine months of 2017, a significant increase compared to the same period last year of Rp 17.3 billion. The strong performance was the result of an increase in net revenue following the improvement in CPO production as well as higher CPO prices through the third quarter of this year.
As of September 2017, DSNG recorded net revenue of Rp 3.9 trillion, an increase of 47.1% compared to the same period last year. The revenue was mostly contributed by the palm oil business segment which generated 82.4% of the total sales of the Company.
Fresh Fruit Bunches (FFB) production in the first nine months of 2017 reached 1.2 million tons, an increase of 69.2% compared to last year, while in the same period the Company produced 310.0 thousand tons of CPO, 49.9 % higher compared to last year.
The Company's CPO average selling price in the first nine months of 2017 also improved with an increase of 11.8 percent to Rp 8.1 million per ton compared to the same period last year of Rp 7.3 million per ton.
The Company recorded EBITDA through the third quarter of 2017 of Rp 1.1 trillion, 132.1% higher compared to the same period last year, with an EBITDA margin of 27.5%. Net profit rose by 2286.6% to Rp 412.4 billion, with a net profit margin of 10.6%.
President Director of the Company, Andrianto Oetomo, said the palm oil harvest returned to normal after last year's decline due to the continued impact of El-Nino hit in 2015. By the end of the year, the Company is optimistic that financial performance will continue to improve, supported by improvements in plantation operating performance.
As of September 2017, the Company's total planted area reached 90,288 hectares.
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