ANJ: CPO Remains the Primary Revenue Driver

Palmoilmagazine
Doc. Sawit Fest 2021 / Misbachul Munif

Pamolmagazine.com, JAKARTA – During a recent public disclosure, PT Austindo Nusantara Jaya Tbk. (“ANJ”; IDX: ANJT) shared information about its financial performance and achievements. In the first quarter of 2023, ANJ reported a total revenue of US$ 50.88 million, indicating a decrease of 32.7% compared to the same period last year.

Nopri Pitoy, the Director of Finance at ANJ, highlighted that a significant portion of the company’s income, amounting to US$ 50.08 million, was generated from the sales of crude palm oil (CPO).

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 “Though CPO is in fluctuation by the increasing production at the peak season, we believe that CPO price would still be bullish in long term,” he said, as Pamolmagazine.comquoted from the official page of the company, Friday (9/6/2023).

Nopri also mentioned, there are some factors that influence CPO selling price, production, and supply in the globe, such as, the supply issue, energy crisis because of political issue between Ukraine and Russia, conflict escalation between China and Taiwan, and El Nino.

He also said the strategies of the company in this year, such as, replanting program on the old plantations and unproductive ones to maintain balanced trees’ profile. This would accelerate the future growth and maintain profitability and cash flow.

“By the first quarter of 2023, our trees’ profile reached 45% and they are in good performance for being at 8 to 20 years old; 24% were immature and 14% were old ones. These happens for what the company has done since 2015 until now. The companies had done replanting program up to 9.586 hectares, including 370 hectares in the first quarter 2023,” he said.

The company has also done agronomy, technology innovation, and digital transformation by applying GIS and EPMS (Electronic Plantation Mobile Solution). Some innovations are about to run to minimize the impact of extreme weather because of climate change, such as, composting, drip fertigation, and water management.

“We hope realizing the balanced strategies in plantation age through replanting program would escalate long term – productivity, and maintain the future growth. We would continue implement sustainable practices by having agronomy, technology innovation, and digital transformation, and realize our environmental, social, governance (ESG) ambition,” Nopri said. (T2)

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