DSNG Profit Increased by 133%
PT DHARMA SATYA NUSANTARA Tbk
DSNG PROFIT INCREASED BY 133% IN 2017
JAKARTA, 9 MARCH 2018 - PT Dharma Satya Nusantara Tbk (The Company, DSNG) recorded a strong performance in 2017, posting a net profit of Rp 585.15 billion, an increase of 133.4% compared to the net profit in 2016.
The increase in net profit was primarily due to higher revenue of the Company, particularly from the palm oil business segment. The Company recorded revenue in 2017 of Rp 5.16 trillion, or 33.0% higher compared to 2016. The palm oil business segment contributed approximately Rp 4.29 trillion or 83.1% of the total revenue of the Company.
The Company’s President Director, Andrianto Oetomo, said the strong performance of the Company in 2017 was driven by strong growth in CPO production following after in the previous year’s El-Nino decline. In addition, the CPO average selling price for the Company was higher compared to the year prior.
"We are optimistic to maintain this strong performance this year as our mature area continues to expand, as well as through a number of planned development programs," said Andrianto Oetomo.
As of December 31, 2017, the Company's mature area for both Nucleus and Plasma operations reached 72,345 hectares with total planted area of 90,288 hectares.
In 2017, the Company produced 1.55 million tons of Fresh Fruit Bunches (FFB), an increase of 41.6% compared to previous year. As a result, the Company's CPO production in 2017 also increased 29.4% to 403.6 thousand tons, while the Company's CPO average selling price in 2017 was recorded at Rp 8.1 million per ton, 8.0% higher compared to 2016.
Following the positive operational performance in 2017, the Company recorded EBITDA of Rp 1.54 trillion, double that of the previous year, with an EBITDA margin of 29.9%
In 2018, the Company plans to develop its first new Palm Oil Mill (POM) in West Kalimantan to accommodate the expanding mature areas in that province. The new POM will have capacity of 30 tons per hour, bringing the total capacity of the Company's POMs to 480 tons per hour once the new POM is in commercial operations.
n addition, the Company is also conducting a review to develop a methane capture in East Kalimantan as the Company’s commitment to develop its business in sustainable way.
The Company today released its 2017 Consolidated Financial Statements reporting its financial performance during fiscal year 2017. In addition, the Company also issued the Invitation of the Annual General Meeting of Shareholders (AGM) which will be held in Jakarta on April 2, 2018.
ABOUT THE COMPANY
PT Dharma Satya Nusantara Tbk was established on 29 September 1980 which engaged in palm oil industry and wood product. Currently, the Company has 13 oil palm plantations and 7 palm oil mills with a total capacity of 450 tons per hour. In the wood product segment, the Company operates wood processing plants in Central Java, which produces panels and engineered flooring.
PT Dharma Satya Nusantara Tbk
Jl. Rawa Gelam V Kav. OR/3B
Kawasan Industri Pulogadung
Jakarta 13930, Indonesia