The First Half of 2022, Some Companies Get Profit

The First Half of 2022, Some Companies Get Profit

Palmoilmagazine, Randi Dipo Purnomo, Sawitfest 2021

Palmoilmagazine, JAKARTA – The fluctuation of crude palm oil (CPO) price in the globe has something to do with the work of some palm oil plantation companies. The companies mostly got profits in the first semester of 2022.

According to data from, 14 of 27 palm oil companies released their financial report of the first semester 2022. They mostly got increasing profits about 21,18% year on year (yoy). They also got the increasing net profits about 80,02% (yoy).

Seen from the numbers, PT SMART Tbk. (SMAR) is the company that got the biggest profits in the period. SMAR got income about Rp 36,11 billion or increased 51,80% (yoy) from the previous period which reached Rp 23,79 billion. 

The net profits of SMAR reached Rp 1,93 billion. The numbers increased 91,98% compared to the same period last year which reached Rp 1 billion.

The increasing percentage is for PT Palma Serasih Tbk. (PSGO), the income increased 72,92% (yoy) from Rp 647,63 billion to be Rp 1,12 billion. It happened with the increasing net profits of PSGO that reached up to 871,52% (yoy) from Rp 17,32 billion to be Rp 168,24 billion.

Though the companies’ profits are mostly increased, some palm oil plantation companies are not too good both in the income and in net profits. From the top line, three companies got decreasing income, they are, PT Sampoerna Agro Tbk. (SGRO), PT PP London Sumatra Indonesia Tbk. (LSIP), and PT Provident Agro Tbk. (PALM).

Still from, from the bottom line, the net profits of PT Provident Agro Tbk. (PALM) decreased 88,33% to be Rp 88,91 billion from Rp 761,77 billion. PT Andira Agro  Tbk. (ANDI) and PT Mahkota Group Tbk. (MGRO) should get net loss in the first semester of 2022.

Besides, PT Eagle High Plantations Tbk. (BWPT) got net loss up to Rp 188,24 billion. But the numbers dwindled 88,64% compared to the same period last year which reached Rp 1,66 billion. The recap of palm oil companies’ profits is in rupiah currency at Rp 14.496/US$ per June 2022 and Rp 14.848/US$ per June 2021. (T2)


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