PT DHARMA SATYA NUSANTARA TBK (DSNG)
INVESTOR NEWSLETTER
Number 23 | October 20179M-2017 9M-2016 YoY% Q1-2017 Q2-2017 Q3-2017 QoQ% FY2016 Plantation Performance
FFB Production (ton) 1,208,363 713,992 69.2 388,964 444,002 375,397 (15.5) 1,092,937
- FFB Nucleus (ton) 1,079,422 640,878 68.4 345,690 398,315 335,417 (15.8) 977,629
- FFB Plasma (ton) 128,941 73,114 76.4 43,274 45,687 39,980 (12.5) 115,308
Mill Performance
FFB Processed (ton) 1,357,951 857,094 58.4 452,794 500,732 404,425 (19.2) 1,306,365
CPO Production(ton) 310,037 206,875 49.9 99,160 113,202 97,675 (13.7) 311,952
PK Production (ton) 48,989 34,689 41.2 15,280 17,892 15,817 (11.6) 51,127
PKO Production (ton) 18,589 11,527 61.3 4,816 7,576 6,198 (18.2) 17,259
CPO OER (%) 22.83 24.14 (5.4) 21.90 22.61 24.15 6.8 23.88
FFA (%) 3.04 2.38 27.7 3.30 3.06 2.75 (10.0) 2.60
Sales Performance
CPO (ton) 347,115 231,391 50.0 97,750 143,336 106,029 (26.0) 348,391
PK (ton) 7,326 7,678 (4.6) 2,858 2,282 2,186 (4.2) 11,067
PKO (ton) 19,002 12,051 57.7 7,001 5,001 7,000 40.0 17,451
In the first nine months of 2017, our FFB and CPO production has shown a significant improvement. Through September 2017, our FFB production reached 1.2 million tons, or 69.2% higher compared to the same period of 2016, as production has been recovering from the El-Nino impact in 2015.
At the same time, mill productivity rose as well, with FFB processed reaching 1.4 million tons, for an increase of 58.4%
compared to same period last year, while CPO production also rose by 49.9% to 310.0 thousand tons.
The company's CPO sales volume was 347.1 thousand tons, an increase of 50.0%, with the average selling price in first nine months of 2017 of Rp 8.1 million per ton, 11.8% higher compare to the same period last year of Rp 7.3 million per ton.
DSNG Price is based on FOB Labanan Port Pricing
95,328 76,006 82,258 93,335 81,161 79,199 53,465 56,126 97,114 128,906 128,381 121,659
104,288
122,488
162,188 157,413 168,548
118,041
131,428 126,352
117,618
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
FFB PRODUCTION (TONS)
2016 201727,715 21,299 23,274 29,092 24,125 22,330 15,293 16,378 27,370 35,922 36
,192
32,964
26,810
31,745
40,605
38,677
45,809
28
,716 33,355 33,459 30,860
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
CPO PRODUCTION (TONS)
2016 20175,977 6,167
6,487 7,227
8,189 8,234
7,911
7,549
7,637 8,354
7,643
8,224
8,824
8,968
8,700
8,156
7,775 7,981
7,747 7,636
7,800
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
AVERAGE SELLING PRICE (Rp '000/TONS)
KPB Medan 2016 KPB Medan 2017PT DHARMA SATYA NUSANTARA TBK (DSNG)
INVESTOR NEWSLETTER
9M-2017 9M-2016 % YoY Q1-2017 Q2-2017 Q3-2017 QoQ% FY2016 Sales Volume
Panel (m3) 50,839 73,357 (30.7) 17,490 15,085 18,265 21.1 92,235
Engineered doors (Pcs) 45,066 47,102 (4.3) 8,991 13,011 23,064 77.3 59,447
Engineered flooring
(M2) 952,604 932,130 2.2 334,232 257,769 360,603 39.9 1,254,642
Average Selling Price (ASP)
Panel (Rp million /m3) 5.21 4.81 8.3 5.04 5.18 5.44 4.7 4.86
Engineered doors
(Rp million /pcs) 1.02 1.02 (0.8) 1.06 1.14 0.93 (18.2) 1.06
Engineered flooring
(Rp million /m2) 0.38 0.38 1.4 0.37 0.39 0.39 1.8 0.37
WOOD PRODUCTS BUSINESS
In the first nine months of 2017, our panel and engineered door recorded a decreased in sales volume, while engineered flooring increase slightly by 2.2%. Sales volume of our wood product in the last three months, however, showed a significant increase compared to the previous quarter due to the higher demand.
Average selling price of panel and engineered flooring rose by 8.3% and 1.4% respectively, while engineered door decreased slightly of 0.8%.
DSNG Investor Newsletter —For further information, contact Investor Relations (investor.relations@dsngroup.co.id) PT Dharma Satya Nusantara Tbk. Jl. Rawa Gelam V Kav OR/3B Kawasan Industri Pulogadung, Jakarta 13930 Indonesia DISCLAIMER: The views expressed here contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward looking information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This presentation should not be relied upon as a recommendation or forecast by PT. Dharma Satya Nusantara Tbk. Nothing in this release should be construed as either an offer to buy or sell or a solicitation of an offer to buy or sell shares in any jurisdiction.
PLANTED AREA
Planted(as of September 2017) (ha)
Average Age (yr)
Planted Hectarage Matured (ha) Total Planted
(ha)
Nucleus 9.5 60,527 69,369
Plasma 5.3 11,818 20,920
Total 8.6 72,345 90,288
As of September 7, the co pa y s total pla ted
area, including nucleus and plasma, reached 90,288 hectares, with the average age of 8.6 years. We continue to review our available land bank for future planting.
FINANCIAL SUMMARY
In the third quarter of 2017, the Company generated net sales of Rp 3.9 trillion, an increased of 47.1% compared to the same period last year, primarily due to the higher of CPO production and an increase of CPO pricing.
Gross profit and operating profit rose significantly by 118.8.2% and 265.3% respectively. The Company posted nine-month EBITDA of Rp 1.1 trillion , 132.1% higher compared to the same period last year. Our EBITDA margin also increased from 17.4% in nine months of 2016 to 27.5% in 2017.
The Company booked net income attributable to owners of the Company of Rp 412.4 billion in the third quarter of 2017, up from Rp 17.3 billion in the same period last year, as a result of stronger operating performance.
In Million Rupiah 30 Sept 2017 30 Sept 2016
Net Sales 3,891,545 2,644,906
Cost of Sales (2,639,270) (2,072,545)
Gross Profit 1,252,275 572,361
% margin 32.2% 21.6%
Operating Profit 806,076 220,671
% margin 20.75 8.3%
Profit Before Income Tax 604,572 49,399
% margin 15.5% 1.9%
EBITDA 1,070,852 461,442
% margin 27.5% 17.5%
Net Income attributable to
