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
October 2013 issue
summary
HARVEST IS GATHERING PACE
Jakarta, 31 October 2013 – PT Sampoerna Agro Tbk and subsidiaries “a poer a Agro" or the
Co pa released its unaudited consolidated financial and operational results for the period ending in
30 September 2013 9M .
Harvests in third quarter of Q had recovered significantly over the previous quarters. FFB output in 3Q13 surged 51% to reach 300,406 tons from 198,464 tons booked in second quarter 2013
Q . The FFB surge mainly occurred in South Sumatra estates which experienced 78% quarterly increase while FFB output in our Central and West Kalimantan estates were largely flat. Nonetheless, consolidated FFB output in 9M13 totalled 804,341 tons, or still 29% lower than the same period in 2012. Extreme weather pattern occurring in South Sumatra within the previous years was believed to be the leading cause for the fluctuations in volume this year.
CPO commodity pricing in 3Q13 had also continued to advance as the year progressed. CPO trading in Malaysia Derivative Exchange averaged Rm2,345 per ton in 3Q13, slightly higher than 2Q13 average which amounted Rm2,324. However, the 9M13 average of Rm2,332 per ton was still 25% lower than the same period in 2012 which amounted Rm3,095 per ton.
The Company managed to book 5% higher selling price on CPO that averaged Rp7,150 per kg in 3Q13 versus Rp6,794 in 2Q13. But again, when benchmarked against 9M12, the 9M13 figure fell 16% to Rp6,612 per kg. Hence, revenue contribution from CPO decreased 36% to Rp1,198.32 billion in 9M13. Since revenue from CPO made up 83% to total consolidated revenue, this meant the biggest cause for the soft financial peformance in the first nine months of 2013 was a volume reduction situation.
As a result, Sampoerna Agro booked 33% lower revenue in 9M13 versus 9M12. Revenue in 9M13 amounted to Rp1,442.73 billion, or Rp710 billion less than 9M12. Primary cause for the decline was due to significantly less contribution from palm products, which if combined, made up 93% of total. Palm products consisted of CPO and PK. In 9M13, PK contributed about 10% of total revenue. Average price for PK also fell annually, at 18% lower in 9M13, but recovered 17% quarterly in 3Q13.
This year, Management is upbeat to achieve a five-year high on business expansion within the plantation portfolio because we expect new plantings on the three crops to gross over 10,000 ha. Next year, palm oil production outlook from Sampoerna Agro nucleus estates is expected to achieve record high growth rates since being publicly-listed on the back of maturing age profile coupled with reasonably supportive weather happening so far this year.
-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
October 2013 issue
corporate details
o Area statement (oil palm only) as of September 2013:
o Production of several key products:
Unit Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 YTD 13 YTD 12 Change FFB - Smtra ton 105,583 67,297 49,684 53,339 45,386 29,633 30,457 65,460 133,107 579,945 874,340 -34% FFB - Klmtn ton 32,922 24,183 25,802 24,381 23,669 22,057 24,044 21,434 25,904 224,396 256,837 -13% CPO ton 27,324 17,361 14,223 15,819 14,144 10,588 10,722 17,145 31,537 158,863 233,142 -32% P.Kernel ton 6,143 4,468 4,346 4,358 3,899 3,592 3,219 4,495 8,137 42,657 61,612 -31% G.Seeds 1000 1,128 952 763 1,038 607 1,044 861 153 272 6,817 7,933 -14%
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:
Unit Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 YTD 13 YTD 12 Change CPO Rp/kg 6,017 6,251 6,128 6,630 6,639 7,091 7,086 6,912 7,319 6,612 7,869 -16%
Unit Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 YTD 13 YTD 12 Change CPO Rp bn 180.95 184.04 108.58 145.33 82.80 132.61 104.00 88.59 171.42 1,198.32 1,866.21 -36% P.Kernel Rp bn 18.43 16.48 15.43 15.70 13.21 11.46 12.16 11.46 28.24 142.59 204.06 -30%
G.Seeds Rp bn 8.04 5.83 2.96 4.33 3.98 5.59 2.41 1.07 2.73 36.93 53.59 -31%
Others Rp bn 15.34 13.87 15.57 3.99 1.80 4.61 3.95 1.15 4.59 64.89 29.05 +123%
Total Sales Rp bn 222.77 220.24 142.55 169.34 101.79 154.27 122.52 102.27 206.98 1,442.73 2,152.91 -33%
Note: Others are revenue generated from sago, rubber, FFB, PKO, and PKE
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