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
July 2016 issuesummary
DEPRESSED YIELD
Jakarta, 28 July 2016–PT “a poer a Agro T k. a d su sidiaries “a poer a Agro" or the Co pa
released its unaudited financial and operational results for the period ending in 30 June 2016 M16 .
The Company recorded Rp1,075.62 billion in revenue within the first semester 2016, or 18% lower than
the sa e period i the pre ious ear M1 . A significant drop in CPO sales during the semester in
review was blamed for the soft performance.
Sales contribution from CPO, as the mainstay product, fell from RpRp1,087.57 billion in 6M15 to Rp865.98 billion in 6M16 because average selling price declined 11% from Rp7,755 per kg in 6M15 to Rp6,914 per kg in 6M16. Sales volume of the key contributor also retreated 11% during the period.
To egi ith, e ha e started to e perie e seaso all lo rop since last February, said Mar
Louette, CEO of the Co pa . O top of that, e also felt the i te sif i g effe t of last ear’s e tre e
drought that lasted for four months in the second half. As a result, we are seeing depressed yield across
our pla tatio fields i “u atra a d Kali a ta .
FFB harvests during the first half of this year declined 38% from 726,690 tons in 6M15 to 453,677 tons in 6M16. Within the period, nucleus estates produced 297,209 tons of FFB, or 31% lower than the same period last year while external FFB processed at the mills plunged even more, from 296,571 tons in 6M15 to 156,468 tons in 6M16. Extraction rates, however, continued to improve from 21.8% to 22.1% as an evidence of continued improvement following past intensification efforts.
Management strategy towards a more balanced geographical diversification has also started to pay off. While our nucleus estates in South Sumatra experienced a 62% fall in FFB harvests in the second quarter versus first quarter of 2016, our Kalimantan estates recorded a mere 2% decline.
On the flip side, Sampoerna Agro carved another milestone in its palm oil expansion journey on 23 June 2016. The Company signed a sale and purchase agreement to acquire PT Anugerah Palm Indonesia PT
API . Main purpose for the acquisition is that PT API has access to 12,880 hectares of concession area in
Ketapang Regency of West Kalimantan. Around 43% of it has already been granted Hak Guna Usaha permit. Based on our surveyor findings, it is estimated around 56% of total concession area can be planted sustainably. Hence, it reasonably supports the construction of another palm oil mill within the newly acquired area in the future.
Marc added, PT API’s o essio is strategi to us si e it is lo ated in-between two of our existing oil palm land assets, hi h e hope ould pa e the a for ore operatio al s ergies.
-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
in tons Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 YTD 16 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 YTD 15 ∆ FFB - nucleus 80,650 51,507 45,020 39,904 41,375 38,753 297,209 52,194 50,001 69,813 76,175 83,585 98,351 430,118 -31% FFB - external 59,671 31,255 19,719 15,169 16,242 14,412 156,468 30,055 26,781 36,540 46,992 65,293 90,910 296,571 -47% CPO 31,402 18,313 13,963 11,507 12,143 11,399 98,728 18,056 17,304 22,928 26,668 32,347 39,718 157,021 -37% P.Kernel 6,611 3,708 3,135 2,670 2,454 2,319 20,896 3,775 3,703 5,737 6,666 7,195 9,245 36,322 -42% G.Seeds (1000s) 910 1,912 1,562 514 550 223 5,671 1,253 1,907 1,497 1,298 758 727 7,440 -24%
Note: Not all FFB was processed by palm oil mill within the same day it was harvested
o Average selling price of key products:
in Rp/kg Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 YTD 16 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 YTD 15 ∆ CPO 6,261 6,560 7,071 7,716 8,181 7,810 6,914 7,714 7,937 8,096 7,862 7,498 7,617 7,755 -11%
in Rp bn Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 YTD 16 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 YTD 15 ∆ CPO 233.45 228.55 137.49 79.80 98.01 88.68 865.98 162.34 117.04 156.40 192.71 167.30 291.77 1,087.57 -20% P.Kernel 36.04 12.75 20.40 19.10 13.64 18.09 120.02 16.73 16.30 24.36 34.15 36.22 39.40 167.15 -28% G.Seeds 7.21 10.17 8.76 4.93 6.15 3.67 40.89 5.09 7.53 9.34 8.34 4.92 4.20 39.42 +4% Others 5.93 4.04 14.72 11.68 5.73 6.63 48.73 4.04 4.61 3.09 4.19 3.36 3.38 22.66 +115% Total Sales 282.63 255.52 181.37 115.50 123.53 117.07 1,075.62 188.20 145.48 193.19 239.39 211.80 338.75 1,316.81 -18%
Note: Others are revenue generated from sago, rubber, FFB, palm kernel products, and electricity
11% 12% 16% 15% 17% 20% 25% 28% 26% 43%
2007 2008 2009 2010 2011 2012 2013 2014 2015 6M16 FFB output (Kalimantan vs Sumatra)
2007 2008 2009 2010 2011 2012 2013 2014 2015 6M16 FFB output (Nucleus vs Plasma)
Nucleus Plasma
