Sampoerna Agro Tbk.
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
April 2015 issue
summary
LOW CYCLE
Jakarta, 30 April 2015 – PT Sampoerna Agro Tbk. a d su sidia ies “a poe a Ag o" o the
Co pa
released its unaudited financial and operational results for the period ending in 31 March
2015 Q 5 .
FFB production volume in the 1Q15 managed to climb slightly, from 265,358 tons within the same
pe iod i
Q
to reach 265,385 tons this year. The increase was due to greater contribution
from nucleus estates. Nucleus estates booked 172,008 tons of FFB production within the period, or 5%
rise over 1Q14 figure. On the other hand, harvest from external parties, which mainly consisted of
plasma under guidance, booked 8% lower volumes in 1Q15 versus 1Q14.
Undoubtedly, the low cycle that ega i fou th ua te
Q
, had continued into 1Q15 as well
because FFB production within the quarter dropped 24% further. The quarter-on-quarter decline in FFB
harvest was primarily due to falling external contribution which plunged 44% while nucleus volumes
declined only 5%.
In revenue terms, the Company booked Rp526.87 billion in 1Q15, or 19% lower than 1Q14 which was
triggered by lower sales contribution from its mainstay product. Within the period, revenue from CPO
contributed 83% to total revenue and reached Rp434.11 billion, or 19% lower than 1Q14.
The year-on-year decline in CPO sales contribution was due to 12% lower selling price and 7% less
volume. Average selling price for the period decreased to Rp7,908 per kg while sales volume was
reduced to 55,111 tons. The fall in selling price trailed its international price benchmark in Malaysia
which also retreated to MYR2,263 per ton in 1Q15, or 16% lower than the same period last year.
On a positive note, oil extraction rates had rose to . % i Q , highe tha last ea ’s a hieve e t of
21.6%. As a result, Sampoerna Agro managed to produce 58,289 tons of CPO in 1Q15, or 9% higher than
the same period last year.
In conclusion, the Company had experienced low cycle within 1Q15 as its FFB production volume
continued its downtrend that started in 4Q14. Nonetheless, greater contributions from nucleus estates
and Kalimantan region had successfully subdued the fluctuation, as illustrated in the two bar charts on
page 2 of this newsletter. These indicators were encouraging as part of the Company strategy towards
minimizing its fluctuations.
Management believed that production volumes will only get stronger in coming months given our
attractive age profile and continuous improvement programs in estate management. We anticipated
bigger contribution in the upcoming quarters.
-o0oSumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585
Jakarta : Sampoerna Strategic Square, North Tower, 28th Floor, Jln. Sudirman Kav. 45, Jakarta 12930, Indonesia
Tel +62-21 5771711 Fax +62-21 5771712 http://www.sampoernaagro.com
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
April 2015 issue
corporate details
o
Area statement (oil palm only) as of March 2015:
Sumatra
nucleus plasma
36,651 42,809
6,223
1,839
42,874 44,648
mature
immature
total
o
Kalimantan
nucleus
mitra
79,460 23,287
3,859
8,062 11,963
2,465
87,522 35,249
6,324
Sub-T
Sub-T
TOTAL
27,146
14,428
41,574
106,605
22,490
129,095
Production of several key products:
in tons
FFB - nucleus
FFB - external
CPO
P.Kernel
G.Seeds (1000s)
Jan-15
52,194
30,055
18,056
3,775
1,253
Feb-15
50,001
26,781
17,304
3,703
1,907
Mar-15
69,814
36,540
22,929
5,737
1,497
YTD 15
172,008
93,376
58,289
13,215
4,656
Jan-14
54,534
39,836
17,726
4,515
660
Feb-14
47,433
27,647
16,346
3,923
921
Mar-14
61,709
34,199
19,177
4,299
566
YTD 14
∆
163,676 +5%
101,681
-8%
53,249 +9%
12,736 +4%
2,146 +117%
Note: Not all FFB was processed by palm oil mill within the same month it was harvested
o
Average selling price of several key products:
in Rp/kg
Jan-15
CPO
7,714
CPOᵋ
7,714
P.Kernel
4,491
G.Seeds (Rp/unit) 8,102
Feb-15
7,937
7,937
4,868
7,800
Mar-15
8,009
8,009
5,124
8,035
YTD 15
7,877
7,877
4,851
7,968
Jan-14
8,578
8,578
5,444
8,000
Feb-14
8,898
8,898
5,639
7,853
Mar-14
9,319
9,319
5,908
7,529
YTD 14
9,011
9,011
5,650
7,790
∆
-13%
-13%
-14%
+2%
Mar-15
156.40
24.36
9.34
3.09
193.19
YTD 15
435.79
57.38
21.96
11.74
526.87
Jan-14
110.43
24.16
5.05
18.96
158.60
Feb-14
185.38
15.41
3.07
6.32
210.18
Mar-14
238.91
21.66
4.54
15.74
280.85
YTD 14
534.72
61.23
12.65
41.03
649.63
∆
-19%
-6%
+74%
-71%
-19%
Note: CPOᵋ p i e is et of e po t ta
o
Revenue breakdown by key products:
in Rp bn
CPO
P.Kernel
G.Seeds
Others
Total Sales
Jan-15
162.34
16.73
5.09
4.04
188.20
Feb-15
117.04
16.30
7.53
4.61
145.48
Note: Others are revenue generated from sago, rubber, FFB, PKO, and PKE
FFB output (Kalimantan vs Sumatra)
FFB output (Nucleus vs Plasma)
100%
50%
0%
100%
89%
11%
88%
12%
84%
16%
85%
15%
83%
17%
80%
75%
20%
25%
72%
60%
64%
62%
60%
57%
58%
58%
52%
48%
36%
38%
40%
43%
42%
42%
48%
52%
35%
50%
28%
40%
2007 2008 2009 2010 2011 2012 2013 2014 1Q15
Kalimantan
Sumatra
65%
0%
2007 2008 2009 2010 2011 2012 2013 2014 1Q15
Nucleus
Plasma
For further inquiries, please contact us at investor.relations@sampoernaagro.com
Sumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585
Jakarta : Sampoerna Strategic Square, North Tower, 28th Floor, Jln. Sudirman Kav. 45, Jakarta 12930, Indonesia
Tel +62-21 5771711 Fax +62-21 5771712 http://www.sampoernaagro.com
COMPANY NEWSLETTER
April 2015 issue
summary
LOW CYCLE
Jakarta, 30 April 2015 – PT Sampoerna Agro Tbk. a d su sidia ies “a poe a Ag o" o the
Co pa
released its unaudited financial and operational results for the period ending in 31 March
2015 Q 5 .
FFB production volume in the 1Q15 managed to climb slightly, from 265,358 tons within the same
pe iod i
Q
to reach 265,385 tons this year. The increase was due to greater contribution
from nucleus estates. Nucleus estates booked 172,008 tons of FFB production within the period, or 5%
rise over 1Q14 figure. On the other hand, harvest from external parties, which mainly consisted of
plasma under guidance, booked 8% lower volumes in 1Q15 versus 1Q14.
Undoubtedly, the low cycle that ega i fou th ua te
Q
, had continued into 1Q15 as well
because FFB production within the quarter dropped 24% further. The quarter-on-quarter decline in FFB
harvest was primarily due to falling external contribution which plunged 44% while nucleus volumes
declined only 5%.
In revenue terms, the Company booked Rp526.87 billion in 1Q15, or 19% lower than 1Q14 which was
triggered by lower sales contribution from its mainstay product. Within the period, revenue from CPO
contributed 83% to total revenue and reached Rp434.11 billion, or 19% lower than 1Q14.
The year-on-year decline in CPO sales contribution was due to 12% lower selling price and 7% less
volume. Average selling price for the period decreased to Rp7,908 per kg while sales volume was
reduced to 55,111 tons. The fall in selling price trailed its international price benchmark in Malaysia
which also retreated to MYR2,263 per ton in 1Q15, or 16% lower than the same period last year.
On a positive note, oil extraction rates had rose to . % i Q , highe tha last ea ’s a hieve e t of
21.6%. As a result, Sampoerna Agro managed to produce 58,289 tons of CPO in 1Q15, or 9% higher than
the same period last year.
In conclusion, the Company had experienced low cycle within 1Q15 as its FFB production volume
continued its downtrend that started in 4Q14. Nonetheless, greater contributions from nucleus estates
and Kalimantan region had successfully subdued the fluctuation, as illustrated in the two bar charts on
page 2 of this newsletter. These indicators were encouraging as part of the Company strategy towards
minimizing its fluctuations.
Management believed that production volumes will only get stronger in coming months given our
attractive age profile and continuous improvement programs in estate management. We anticipated
bigger contribution in the upcoming quarters.
-o0oSumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585
Jakarta : Sampoerna Strategic Square, North Tower, 28th Floor, Jln. Sudirman Kav. 45, Jakarta 12930, Indonesia
Tel +62-21 5771711 Fax +62-21 5771712 http://www.sampoernaagro.com
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
April 2015 issue
corporate details
o
Area statement (oil palm only) as of March 2015:
Sumatra
nucleus plasma
36,651 42,809
6,223
1,839
42,874 44,648
mature
immature
total
o
Kalimantan
nucleus
mitra
79,460 23,287
3,859
8,062 11,963
2,465
87,522 35,249
6,324
Sub-T
Sub-T
TOTAL
27,146
14,428
41,574
106,605
22,490
129,095
Production of several key products:
in tons
FFB - nucleus
FFB - external
CPO
P.Kernel
G.Seeds (1000s)
Jan-15
52,194
30,055
18,056
3,775
1,253
Feb-15
50,001
26,781
17,304
3,703
1,907
Mar-15
69,814
36,540
22,929
5,737
1,497
YTD 15
172,008
93,376
58,289
13,215
4,656
Jan-14
54,534
39,836
17,726
4,515
660
Feb-14
47,433
27,647
16,346
3,923
921
Mar-14
61,709
34,199
19,177
4,299
566
YTD 14
∆
163,676 +5%
101,681
-8%
53,249 +9%
12,736 +4%
2,146 +117%
Note: Not all FFB was processed by palm oil mill within the same month it was harvested
o
Average selling price of several key products:
in Rp/kg
Jan-15
CPO
7,714
CPOᵋ
7,714
P.Kernel
4,491
G.Seeds (Rp/unit) 8,102
Feb-15
7,937
7,937
4,868
7,800
Mar-15
8,009
8,009
5,124
8,035
YTD 15
7,877
7,877
4,851
7,968
Jan-14
8,578
8,578
5,444
8,000
Feb-14
8,898
8,898
5,639
7,853
Mar-14
9,319
9,319
5,908
7,529
YTD 14
9,011
9,011
5,650
7,790
∆
-13%
-13%
-14%
+2%
Mar-15
156.40
24.36
9.34
3.09
193.19
YTD 15
435.79
57.38
21.96
11.74
526.87
Jan-14
110.43
24.16
5.05
18.96
158.60
Feb-14
185.38
15.41
3.07
6.32
210.18
Mar-14
238.91
21.66
4.54
15.74
280.85
YTD 14
534.72
61.23
12.65
41.03
649.63
∆
-19%
-6%
+74%
-71%
-19%
Note: CPOᵋ p i e is et of e po t ta
o
Revenue breakdown by key products:
in Rp bn
CPO
P.Kernel
G.Seeds
Others
Total Sales
Jan-15
162.34
16.73
5.09
4.04
188.20
Feb-15
117.04
16.30
7.53
4.61
145.48
Note: Others are revenue generated from sago, rubber, FFB, PKO, and PKE
FFB output (Kalimantan vs Sumatra)
FFB output (Nucleus vs Plasma)
100%
50%
0%
100%
89%
11%
88%
12%
84%
16%
85%
15%
83%
17%
80%
75%
20%
25%
72%
60%
64%
62%
60%
57%
58%
58%
52%
48%
36%
38%
40%
43%
42%
42%
48%
52%
35%
50%
28%
40%
2007 2008 2009 2010 2011 2012 2013 2014 1Q15
Kalimantan
Sumatra
65%
0%
2007 2008 2009 2010 2011 2012 2013 2014 1Q15
Nucleus
Plasma
For further inquiries, please contact us at investor.relations@sampoernaagro.com
Sumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585
Jakarta : Sampoerna Strategic Square, North Tower, 28th Floor, Jln. Sudirman Kav. 45, Jakarta 12930, Indonesia
Tel +62-21 5771711 Fax +62-21 5771712 http://www.sampoernaagro.com