PalmOilMagazine, JAKARTA – Referring to PT Cisadane Sawit Raya Tbk., (CSRA), because of the average selling price of crude palm oil (CPO), the company got better income in the first quarter (Q1) in 2021. Besides, the company had the higher fresh fruit bunch (FFB) production as the result of effective operational strategies.
Still based on the company, the profitability increased with the good margin. The company got net profits in Q1 2021 reaching Rp 41,38 billion or more than 20% compared to the previous period which reached Rp 32,50 billion. This expanded the net profits to be 23,5%.
By 31 March 2021, the asset of CSRA was Rp 1,41 billion, slightly better than it on 31 December 2020 which reached Rp 1,39 billion. The total liability of the company in Q1 2021 was Rp 795,18 billion compared to Rp 826,29 billion by the end of 2020. The net debt/equity in Q1 2021 was 1,24 x or lower than it in 2020 which was 1,45 x.
In general, CSRA showed the good progress top line which ended on 31 March 2021. The selling income in Q1 2021 increased 20,8% to be Rp 175,9 billion compared to Rp 145,6 billion in the same period in 2020.
From the previous quarter, the positive selling trend in FY21 happened for the average selling price which was the same with the recovery of palm oil. It is seen from CPO and FFB average selling price which respectively increase for the last years.
“The increasing selling in the period also happened for the consistency of the company to maintain the solid productivity and efficient operational. This is the same with the sustainable development commitment. As the result, the production volume got better 3,0% year on year (YoY) and FFB yield remains well at 19,3 tons/hectare,” the company mentioned in the release to PalmOilMagazine.
By the ideal profile of the company, the plantations (trees) are in productive age, less than 18 years. The company knew, the production progress would be in long term. This is the same with the strategies of CSRA to have the good foothold to have the better long-term progress. (T2)