PALMOILMAGAZINE, JAKARTA – PT Dharma Satya Nusantara Tbk (DSNG) has reported a significant increase in profits during the first quarter of 2024, indicating consistent progress in its business operations. The company recorded profits amounting to Rp 229 billion, reflecting a year-on-year (yoy) escalation of 6.6%. This growth was primarily driven by increased sales across its palm oil, wood, and renewable energy segments.
Over the past three months of 2024, DSNG achieved total sales of Rp 2.23 trillion, marking a yoy increase of 7.9%. The palm oil sector emerged as the primary revenue generator, contributing 85% of the company’s total income, equivalent to Rp 1.9 trillion. Palm oil sales rose by 5.1% compared to the same period last year.
The uptick in sales can be attributed to the increased volume of crude palm oil (CPO) and palm kernel oil (PKO), which experienced yoy growth rates of 3.7% and 45.1%, respectively. However, the average price of CPO during this period witnessed a 2% decrease compared to the previous year.
Also Read: DSNG Records Impressive Income of Rp 6.6 Trillion in Third Quarter 2023
Andrianto Oetomo, Director of DSNG, attributed the global rise in vegetable oil prices at the beginning of the year to increased vegetable oil supply and geopolitical factors in certain countries.
“CPO average price in DSNG got decreased 1,9% yoy to be Rp 11,74 million per ton while last year it reached Rp 11,97 million per ton. It was the same with the decreasing commodity prices, including vegetable oils,” Andrianto said.
According to th official statement that Palmoilmagazine.com got, Tuesday (30/4/2024), DSNG successfully managed gross profits and operational profits well. They increased 17,2% and 30,8% yoy for each. Besides, EBITDA of the company escalated Rp 635 billion or 21,6% yoy
Though CPO production got decreased 1,6% yoy because of external purchase, the company could remain the positive financial performance. New renewable energy sector also significantly contributed to the trade that contributed about 2,5% or Rp 57 billion from palm oil shell trade to Japan.
DSNG seemed to be ready to face the challenges and chance in the future from the increasing performance in the first quarter of 2024. By focusing on the efficient profit management and product diversification, the company would be positive to get sustainable progress. (T2)
