PALMOILMAGAZINE, JAKARTA – PT Teladan Prima Agro Tbk (TLDN) reported strong financial performance for the period of January to September 2024, posting net profits of Rp 393.91 billion, a 68.2% increase year-on-year (YoY) compared to the same period last year. This growth was driven by higher average selling prices for crude palm oil (CPO) and palm kernel (PK), as well as improved production cost efficiency.
As of September 2024, the average selling price for CPO was Rp 11,755 per kilogram, while PK was Rp 6,046 per kilogram, representing increases of 6.7% and 38.3%, respectively, compared to the previous year. Although the sales volumes for CPO and PK decreased by 8.4% and 25%, respectively, the higher selling prices offset the lower volumes, contributing to a significant rise in net profits.
TLDN’s Director, Wishnu Wardhana, stated that despite the drop in sales volume, the company achieved an earnings before interest, tax, depreciation, and amortization (EBITDA) of Rp 766.27 billion. “EBITDA and net profits increased by 29.1% and 68.2%, respectively, compared to the same period last year,” Wishnu said in an official statement, as quoted by Palmoilmagazine.com on Thursday (31/10/2024).
Also Read: TLDN Reports Strong Financial Performance in First Half of 2024
The sales in the first nine months reached Rp 2,05 trillion or decreased 8,6% from Rp 2,24 trillion in the same period in 2023. The decreasing sale costs that equal to Rp 192,7 billion, mostly happened for the field operational efficiency including the costs of production and value control to CPO and PK supply as same as the decreasing selling volume.
The management of TLDN thought the efficiency would be the strategic one to maintain the competition and maintain the positive financial performance even there was selling volume fluctuation. (P2)
