PALMOILMAGAZINE, JAKARTA – In the first nine months of 2023 (9M – 2023), PT Dharma Satya Nusantara Tbk., abbreviated as DSNG, reported a total income of approximately Rp 6.6 trillion, a figure consistent with the previous year’s earnings.
Notably, palm oil remained the primary revenue contributor for the company, accounting for 88% of the total income, which equated to about Rp 5.8 trillion, reflecting a 7% increase compared to the previous year.
This accomplishment can be attributed to the significant growth in crude palm oil (CPO) production, which saw a year-on-year increase of 7%, along with improved fresh fruit bunch (FFB) production, particularly in the third quarter of this year.
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During the 9M – 2023 period, DSNG’s FFB production witnessed a 5.5% rise compared to the previous year. At the quarterly level, both the main and plasma plantations recorded substantial production increases, reaching 14.5% and 16.4%, respectively.
Furthermore, CPO, palm kernel (PK), and palm kernel oil (PKO) production in the company also experienced notable increments of 11%, 13%, and 11%, respectively. Additionally, the oil extraction rate (OER) showed an improvement, rising from 22.84% in the second quarter of 2023 to 23.50% in the third quarter of 2023.
It’s worth noting that OER in the same period last year was 0.5% lower. The average selling price (ASP) of CPO also improved this year, reaching Rp 11.5 million per ton.
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But the increasing income of DSNG this period was balancing with the increasing selling cost that reached 11% or about Rp 4,9 trillion. It happened for the increasing fertilizer costs both in the globe and in the volume.
“The war that still happens between Russia and Ukraine made fertilizer price in fluctuation. In the first nine months this year, cost of sales increased 11% to the same period last year,” Director of PT Dharma Satya Nusantara Tbk., Andrianto Oetomo, said, as in the official statement to Palmoilmagazine.com, Tuesday (31/10/2023).
The increasing cost of sale contributed to decrease net profits of the company that reached 44% to be Rp 504 billion and decrease EBITDA up to 24% to be Rp 1,6 trillion. (T2)
