PALMOILMAGAZINE, JAKARTA – PT Teladan Prima Agro Tbk (TLDN) reported a net profit of approximately IDR 269.06 billion for the first half of 2024, marking a 324.4% increase compared to IDR 63.4 billion in the same period last year. This significant progress was attributed to efficient production costs and higher average commodity selling prices.
The cost of goods sold by TLDN decreased by 17.5%, from IDR 1.6 trillion in January – June 2023 to IDR 1.31 trillion in the same period this year. This reduction, amounting to IDR 290 billion, was primarily due to lower volumes of crude palm oil (CPO) and palm kernel (PK) and more efficient production costs.
In the first six months of 2024, TLDN’s CPO sales volume reached 150,726 tons, a decrease of 5.6% compared to 159,657 tons in the same period last year. Despite the decline, the average selling price of CPO increased by 2.7%, from IDR 11,196/kg in the first half of 2023 to IDR 11,500/kg in the first half of 2024.
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Director of TLDN, Wishnu Wardhana said even though the selling volume a little bit decreased, the company successfully managed earnings before interest, taxes, depreciation, and amortization (EBITDA) that reached IDR 520,64 billion and net profits about IDR 269,06 billion. “Each sector got increased 91,5% and 324,4% to the same period last year,” Wishnu said, as in the official statement to Palmoilmagazine.com, Wednesday (31/7/2024).
In the plantation operation, TLDN produced 589.662 tons of fresh fruit bunch (FFB) in the first semester 2024, got escalated 8,3% to the same period last year. FFB production from the main plantations reached 520.803 tons and FFB produced by the plasma reached 68.858 tons. Besides, the mills of TLDN processed 668.251 tons FFB, got escalated 5,2% year on year (yoy). Of the numbers, the mills of TLDN produced 159.667 tons CPO and 25.211 tons PK, that increased 10,4% and 7% yoy for each.
Wishnu Wardhana continued the increasing production had something to do with the best agricultural practices, such as, consistently in fertilizer application, infrastructure maintenance, optimalization in the harvest, and technology implementation in plantation and mill operation. Besides, TLDN started producing palm kernel oil and palm kernel expeller that reached 1.365 tons and 1.796 tons for each in the first semester 2024. (P2)
