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
March 2016 issuesummary
ESCALATING VOLUMES CUSHIONED THE FALLING PRICES
Jakarta, 29 March 2016 – PT Sampoerna Agro Tbk. a d su sidiaries “a poer a Agro" or the
Co pa released its audited financial results along with its operational statistics for full year ending in December 2015 ( 5 ).
Sampoerna Agro production reached record high wihin the final three months of 2015. Total output for the year exceeded 388 thousand tons of CPO, or 21% higher than 2014. This achievement was primarily attributable to our Kalimantan estates that booked 28% output growth, which was backed by Sumatra estates that recorded 18% higher volume.
Thanks to our maturing age profile and intensfication efforts within the past years, our CPO production in 2015 grew 21%, surpassing our growth expectation for the year of 10-15%, said Mar Louette, CEO of the Company.
Nonetheless, we believed that the production could even be higher if not for the challenging weather condition that persisted in the second half of the year, Louette added. For instance, oil extraction rates within our South Sumatra estates dipped to its lowest in November at only 19%, or a full 2% lower than our yearly average within the region. The Company recorded 21.2% extraction rates in 2015, lower than the previous year.
On the flip side, average selling price for the Company’s biggest revenue contributor fell 16% to reach Rp7,031 per kg in 2015. Sales of CPO contributed Rp2,481.81 billion in 2015, or 83% of total revenue for the Company which amounted to Rp3,242.38 billion, around 8% lower than 2014 figure.
On the other hand, revenue contribution from palm kernel, as the second biggest contributor, rose 5% versus 2014 because sales volume, which climbed 22%, more than offset the 13% reduction in prices during the year. Third biggest contributor was DxP Sriwijaya seeds which contributed Rp58.51 billion in sales, or 18% higher than the previous year, attributable to higher selling price and sales volume.
In December 2015, Sampoerna Agro had also managed to close a deal with New Forest Asset Management Pty Ltd who shared the prospects of a rubber business in the years ahead. A JV was formed under PT Hutan Ketapang Industri, subsidiary with 100,000 hectares of forestry concession in Ketapang, West Kalimantan.
Budi Halim, CFO of the Company said, Through the JV, we can see pre-money valuation for the 65% share in HKI to be roughly Rp950 billion, implying that enterprise valuation for Sampoerna Agro, net of the rubber business, to equal USD4,150 per hectare of nucleus oil palm estates. It is even lower than
toda ’s a tual planting cost that averages around USD5,200 per hectare.
-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
March 2016 issuecorporate details
o Area statement (oil palm only) as of December 2015:
nucleus plasma nucleus plasma
in tons Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 YTD 15 YTD 14 ∆
FFB - nucleus 52,194 50,001 69,813 76,175 83,585 98,351 81,524 97,490 82,260 109,950 102,324 91,024 994,690 785,357 +27% FFB - external 30,055 26,781 36,540 46,992 65,293 90,910 83,672 73,426 87,429 123,568 105,303 81,616 851,584 732,034 +16%
CPO 18,056 17,304 22,928 26,668 32,347 39,718 35,551 37,208 34,205 47,033 39,823 37,195 388,037 321,416 +21%
P.Kernel 3,775 3,703 5,737 6,666 7,195 9,245 7,884 9,222 9,001 12,822 11,896 8,909 96,055 77,432 +24% G.Seeds (1000s) 1,253 1,907 1,497 1,298 758 727 394 1,155 525 356 1,141 260 11,271 7,873 +43%
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-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 YTD 15 YTD 14 ∆
CPO 7,714 7,937 8,096 7,862 7,498 7,617 7,554 7,227 6,090 6,288 6,407 5,984 7,030 8,346 -16%
in Rp bn Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 YTD 15 YTD 14 ∆
CPO 162.34 117.04 156.40 192.71 167.30 291.77 218.02 266.67 220.78 195.34 249.23 243.86 2,481.46 2,719.07 -9% P.Kernel 16.73 16.30 24.36 34.15 36.22 39.40 30.55 45.40 24.44 44.38 45.66 37.12 394.70 374.73 +5%
G.Seeds 5.09 7.53 9.34 8.34 4.92 4.20 2.14 2.52 3.29 9.19 9.81 12.08 78.46 49.63 +58%
Others 4.04 4.61 3.09 4.19 3.36 3.38 4.15 3.83 3.25 5.70 3.54 1.69 44.82 98.95 -55%
Total Sales 188.20 145.48 193.19 239.39 211.80 338.75 254.86 318.41 251.76 254.61 308.25 294.74 2,999.45 3,242.38 -7%
Note: Others are revenue generated from sago, rubber, FFB, PKO, and PKE
