Sumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585 Jakarta : Sampoerna Strategic Square, North Tower, 28th Floor, Jln. Sudirman Kav. 45, Jakarta 12930, Indonesia
Tel +62-21 5771711 Fax +62-21 5771712 http://www.sampoernaagro.com
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
April 2015 issue
summary
LOW CYCLE
Jakarta, 30 April 2015 – PT Sampoerna Agro Tbk. a d su sidia ies “a poe a Ag o" o the
Co pa released its unaudited financial and operational results for the period ending in 31 March
2015 Q 5 .
FFB production volume in the 1Q15 managed to climb slightly, from 265,358 tons within the same
pe iod i Q to reach 265,385 tons this year. The increase was due to greater contribution from nucleus estates. Nucleus estates booked 172,008 tons of FFB production within the period, or 5% rise over 1Q14 figure. On the other hand, harvest from external parties, which mainly consisted of plasma under guidance, booked 8% lower volumes in 1Q15 versus 1Q14.
Undoubtedly, the low cycle that ega i fou th ua te Q , had continued into 1Q15 as well
because FFB production within the quarter dropped 24% further. The quarter-on-quarter decline in FFB harvest was primarily due to falling external contribution which plunged 44% while nucleus volumes declined only 5%.
In revenue terms, the Company booked Rp526.87 billion in 1Q15, or 19% lower than 1Q14 which was triggered by lower sales contribution from its mainstay product. Within the period, revenue from CPO contributed 83% to total revenue and reached Rp434.11 billion, or 19% lower than 1Q14.
The year-on-year decline in CPO sales contribution was due to 12% lower selling price and 7% less volume. Average selling price for the period decreased to Rp7,908 per kg while sales volume was reduced to 55,111 tons. The fall in selling price trailed its international price benchmark in Malaysia which also retreated to MYR2,263 per ton in 1Q15, or 16% lower than the same period last year.
On a positive note, oil extraction rates had rose to . % i Q , highe tha last ea ’s a hieve e t of
21.6%. As a result, Sampoerna Agro managed to produce 58,289 tons of CPO in 1Q15, or 9% higher than the same period last year.
In conclusion, the Company had experienced low cycle within 1Q15 as its FFB production volume continued its downtrend that started in 4Q14. Nonetheless, greater contributions from nucleus estates and Kalimantan region had successfully subdued the fluctuation, as illustrated in the two bar charts on page 2 of this newsletter. These indicators were encouraging as part of the Company strategy towards minimizing its fluctuations.
Management believed that production volumes will only get stronger in coming months given our attractive age profile and continuous improvement programs in estate management. We anticipated bigger contribution in the upcoming quarters.
-o0o-Sumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585 Jakarta : Sampoerna Strategic Square, North Tower, 28th Floor, Jln. Sudirman Kav. 45, Jakarta 12930, Indonesia
Tel +62-21 5771711 Fax +62-21 5771712 http://www.sampoernaagro.com
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
April 2015 issue
corporate details
o Area statement (oil palm only) as of March 2015:
nucleus plasma nucleus mitra
in tons Jan-15 Feb-15 Mar-15 YTD 15 Jan-14 Feb-14 Mar-14 YTD 14 ∆
FFB - nucleus 52,194 50,001 69,814 172,008 54,534 47,433 61,709 163,676 +5% FFB - external 30,055 26,781 36,540 93,376 39,836 27,647 34,199 101,681 -8% CPO 18,056 17,304 22,929 58,289 17,726 16,346 19,177 53,249 +9% P.Kernel 3,775 3,703 5,737 13,215 4,515 3,923 4,299 12,736 +4% G.Seeds (1000s) 1,253 1,907 1,497 4,656 660 921 566 2,146 +117% Note: Not all FFB was processed by palm oil mill within the same month it was harvested
o Average selling price of several key products:
in Rp/kg Jan-15 Feb-15 Mar-15 YTD 15 Jan-14 Feb-14 Mar-14 YTD 14 ∆
CPO 7,714 7,937 8,009 7,877 8,578 8,898 9,319 9,011 -13%
in Rp bn Jan-15 Feb-15 Mar-15 YTD 15 Jan-14 Feb-14 Mar-14 YTD 14 ∆
CPO 162.34 117.04 156.40 435.79 110.43 185.38 238.91 534.72 -19% P.Kernel 16.73 16.30 24.36 57.38 24.16 15.41 21.66 61.23 -6% G.Seeds 5.09 7.53 9.34 21.96 5.05 3.07 4.54 12.65 +74% Others 4.04 4.61 3.09 11.74 18.96 6.32 15.74 41.03 -71% Total Sales 188.20 145.48 193.19 526.87 158.60 210.18 280.85 649.63 -19% Note: Others are revenue generated from sago, rubber, FFB, PKO, and PKE
11% 12% 16% 15% 17% 20% 25% 28% 40%
89% 88% 84% 85% 83% 80% 75% 72% 60%
0% 50% 100%
2007 2008 2009 2010 2011 2012 2013 2014 1Q15
FFB output (Kalimantan vs Sumatra)
2007 2008 2009 2010 2011 2012 2013 2014 1Q15
FFB output (Nucleus vs Plasma)
Nucleus Plasma
