Investor Newsletter DSNG 12M16
PT DHARMA SATYA NUSANTARA TBK (DSNG)
INVESTOR NEWSLETTER
DSN Group s operating performance for 2016 was severely impacted
by recent El-Nino. Total FFB production in 2016 decreased by 27% to
1.09 million tons. In the 4th quarter of 2016, however, FFB harvested
showed an improvement to 379 thousand tons, for an increase of
83.3% compared to the 3rd quarter.
Total CPO production in 2016 dropped by 23.4 compared to 2015,
but 4th quarter CPO production rose by 78% compared to 3rd
quarter.
FY-2016
Plantation Performance
FFB Production (ton)
- FFB Nucleus (ton)
- FFB Plasma (ton)
FY-2015
YoY%
(26.6)
(27.7)
(16.2)
1,092,937
977,629
115,308
1,489,022
1,351,424
137,598
1,306,365
311,952
51,127
17,259
23.88
2.60
1,725,560
407,155
60,598
20,489
23.60
2.57
(24.3)
(23.4)
(15.6)
(15.8)
1.2
1.1
348,391
11,067
17,451
409,815
9,523
19,501
(15.0)
16.2
(10.5)
Number 20 | Jan 2017
Our OER show modest improvement from 23.60% in 2015 to
23.88%, while the FFA levels worsened by 1.2% compare to 2015.
The co pa y s CPO sales volume decreased to 348 thousand tons
in 2016, or 15% lower than the same period last year.
Our realized ASP for CPO from January to December 2016 was
Rp. 7.54 million per ton, an increased of 10% from Rp 6.86 million
per ton in 2015.
Q1-2016
253,592
227,161
26,431
Q2-2016
Q3-2016
Q4-2016
QoQ%
253,695
229,076
24,619
206,705
184,640
22,065
378,945
336,752
42,194
83.3
82.4
91.2
300,678
72,287
11,939
4,372
24.04
2.27
309,259
75,547
12,420
3,759
24.43
2.23
247,157
59,041
10,331
3,396
23.89
2.69
449,272
105,078
16,437
5,731
23.39
3.04
81.8
78.0
59.1
68.8
(2.1)
13.0
74,641
2,628
3,500
91,000
2,302
6,150
65,750
2,748
2,401
117,000
3,389
5,400
77.9
23.3
125.0
Mill Performance
FFB Processed (ton)
CPO Production(ton)
PK Production (ton)
PKO Production (ton)
CPO OER (%)
FFA (%)
Sales Performance
CPO (ton)
PK (ton)
PKO (ton)
FFB PRODUCTION (TONS)
CPO PRODUCTION (TONS)
2015
2016
24,557
27,715
23,359
21,299
30,343
23,274
33,412
29,092
33,849
24,125
34,555
22,330
32,800
15,293
34,143
16,378
38,869
27,370
45,567
35,922
37,416
36,192
38,286
32,964
2016
94,541
95,328
89,168
76,006
115,244
82,258
117,535
93,335
130,379
81,161
127,433
79,199
121,934
53,465
122,083
56,126
140,256
97,114
160,282
128,906
133,740
128,381
136,429
121,659
2015
Jan Feb Mar Apr May Jun
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Jul Aug Sep Oct Nov Dec
KPB Medan 2015
Labanan 2015
CPO AVERAGE SELLING PRICE (Rp million/ton)
7.58
7.58
8.19
7.78
7.79
7.23
5.98
Jan
8.23
6.17
6.49
Feb
Mar
KPB Medan 2016
Labanan 2016
8.35
7.91
7.55
7.64
7.64
8.22
7.16
7.33
7.51
6.96
6.13
5.89
6.17
5.76
Apr
DSNG Price is based on FOB Labanan Port Pricing
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
PT DHARMA SATYA NUSANTARA TBK (DSNG)
INVESTOR NEWSLETTER
PLANTED AREA
As of December 2016, the co pa y s
total planted area, including nucleus
and plasma, reached 90,288
hectares, with average age of 7.6
years.
Planted
(as of December 2016)
(ha)
Planted Hectarage
Average
Age (yr)
Nucleus
8.5
56,279
13,089
Total Planted
(ha)
69,368
Plasma
4.3
8,901
12,018
20,920
Total
7.6
65,181
25,107
90,288
Matured (ha) Immatured (ha)
WOOD PRODUCTS BUSINESS
The co pa y s wood product
performance in 2016
decreased significantly due to
the drop of wood panel sales
volume and the decrease of
average selling price (ASP) of
engineered door and
engineered flooring product.
Wood panel sales volume
dropped by 48.6% to 92
thousand m3, despite the
average selling price
increasing by 3.7%. Sales
volume of engineered doors
decreased by 4.0% in 2016,
followed by the decrease of
its ASP by 14.9%.
FY-2016
FY-2015
% YoY
Q1-2016
Q2-2016
Q3-2016
Q4-2016
QoQ%
Sales Volume
Panel (m3)
Engineered doors
(Pcs)
Engineered flooring
(m2)
92,235
179,567
(48.6)
28,395
27,984
16,978
18,877
11.2
59,447
61,948
(4.0)
15,271
13,487
18,344
12,345
(32.7)
1,254,642
1,098,252
14.2
303,877
317,119
311,134
322,511
3.7
4.86
4.68
3.7
4.79
4.65
5.11
5.03
(1.4)
1.06
1.25
(14.9)
1.02
1.01
1.04
1.21
17.0
0.37
0.41
(9.4)
0.39
0.38
0.37
0.35
(3.6)
Average Selling Price
Panel (Rp million /m3)
Engineered doors
(Rp million /pcs)
Engineered flooring
(Rp million /m2)
In 2016, engineered flooring
sales volume rose by 14.2%
compare to 2015, however its
ASP drop 9.4% compare to
2015.
DISCLAIMER: The views expressed here contain information derived from publicly available sources that have not been independently
verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward looking
information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This
presentation should not be relied upon as a recommendation or forecast by PT. Dharma Satya Nusantara Tbk. Nothing in this release
should be construed as either an offer to buy or sell or a solicitation of an offer to buy or sell shares in any jurisdiction.
DSNG Investor Newsletter —For further information, contact Investor Relations (investor.relations@dsngroup.co.id)
PT Dharma Satya Nusantara Tbk. Jl. Rawa Gelam V Kav OR/3B Kawasan Industri Pulogadung, Jakarta 13930 Indonesia
INVESTOR NEWSLETTER
DSN Group s operating performance for 2016 was severely impacted
by recent El-Nino. Total FFB production in 2016 decreased by 27% to
1.09 million tons. In the 4th quarter of 2016, however, FFB harvested
showed an improvement to 379 thousand tons, for an increase of
83.3% compared to the 3rd quarter.
Total CPO production in 2016 dropped by 23.4 compared to 2015,
but 4th quarter CPO production rose by 78% compared to 3rd
quarter.
FY-2016
Plantation Performance
FFB Production (ton)
- FFB Nucleus (ton)
- FFB Plasma (ton)
FY-2015
YoY%
(26.6)
(27.7)
(16.2)
1,092,937
977,629
115,308
1,489,022
1,351,424
137,598
1,306,365
311,952
51,127
17,259
23.88
2.60
1,725,560
407,155
60,598
20,489
23.60
2.57
(24.3)
(23.4)
(15.6)
(15.8)
1.2
1.1
348,391
11,067
17,451
409,815
9,523
19,501
(15.0)
16.2
(10.5)
Number 20 | Jan 2017
Our OER show modest improvement from 23.60% in 2015 to
23.88%, while the FFA levels worsened by 1.2% compare to 2015.
The co pa y s CPO sales volume decreased to 348 thousand tons
in 2016, or 15% lower than the same period last year.
Our realized ASP for CPO from January to December 2016 was
Rp. 7.54 million per ton, an increased of 10% from Rp 6.86 million
per ton in 2015.
Q1-2016
253,592
227,161
26,431
Q2-2016
Q3-2016
Q4-2016
QoQ%
253,695
229,076
24,619
206,705
184,640
22,065
378,945
336,752
42,194
83.3
82.4
91.2
300,678
72,287
11,939
4,372
24.04
2.27
309,259
75,547
12,420
3,759
24.43
2.23
247,157
59,041
10,331
3,396
23.89
2.69
449,272
105,078
16,437
5,731
23.39
3.04
81.8
78.0
59.1
68.8
(2.1)
13.0
74,641
2,628
3,500
91,000
2,302
6,150
65,750
2,748
2,401
117,000
3,389
5,400
77.9
23.3
125.0
Mill Performance
FFB Processed (ton)
CPO Production(ton)
PK Production (ton)
PKO Production (ton)
CPO OER (%)
FFA (%)
Sales Performance
CPO (ton)
PK (ton)
PKO (ton)
FFB PRODUCTION (TONS)
CPO PRODUCTION (TONS)
2015
2016
24,557
27,715
23,359
21,299
30,343
23,274
33,412
29,092
33,849
24,125
34,555
22,330
32,800
15,293
34,143
16,378
38,869
27,370
45,567
35,922
37,416
36,192
38,286
32,964
2016
94,541
95,328
89,168
76,006
115,244
82,258
117,535
93,335
130,379
81,161
127,433
79,199
121,934
53,465
122,083
56,126
140,256
97,114
160,282
128,906
133,740
128,381
136,429
121,659
2015
Jan Feb Mar Apr May Jun
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Jul Aug Sep Oct Nov Dec
KPB Medan 2015
Labanan 2015
CPO AVERAGE SELLING PRICE (Rp million/ton)
7.58
7.58
8.19
7.78
7.79
7.23
5.98
Jan
8.23
6.17
6.49
Feb
Mar
KPB Medan 2016
Labanan 2016
8.35
7.91
7.55
7.64
7.64
8.22
7.16
7.33
7.51
6.96
6.13
5.89
6.17
5.76
Apr
DSNG Price is based on FOB Labanan Port Pricing
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
PT DHARMA SATYA NUSANTARA TBK (DSNG)
INVESTOR NEWSLETTER
PLANTED AREA
As of December 2016, the co pa y s
total planted area, including nucleus
and plasma, reached 90,288
hectares, with average age of 7.6
years.
Planted
(as of December 2016)
(ha)
Planted Hectarage
Average
Age (yr)
Nucleus
8.5
56,279
13,089
Total Planted
(ha)
69,368
Plasma
4.3
8,901
12,018
20,920
Total
7.6
65,181
25,107
90,288
Matured (ha) Immatured (ha)
WOOD PRODUCTS BUSINESS
The co pa y s wood product
performance in 2016
decreased significantly due to
the drop of wood panel sales
volume and the decrease of
average selling price (ASP) of
engineered door and
engineered flooring product.
Wood panel sales volume
dropped by 48.6% to 92
thousand m3, despite the
average selling price
increasing by 3.7%. Sales
volume of engineered doors
decreased by 4.0% in 2016,
followed by the decrease of
its ASP by 14.9%.
FY-2016
FY-2015
% YoY
Q1-2016
Q2-2016
Q3-2016
Q4-2016
QoQ%
Sales Volume
Panel (m3)
Engineered doors
(Pcs)
Engineered flooring
(m2)
92,235
179,567
(48.6)
28,395
27,984
16,978
18,877
11.2
59,447
61,948
(4.0)
15,271
13,487
18,344
12,345
(32.7)
1,254,642
1,098,252
14.2
303,877
317,119
311,134
322,511
3.7
4.86
4.68
3.7
4.79
4.65
5.11
5.03
(1.4)
1.06
1.25
(14.9)
1.02
1.01
1.04
1.21
17.0
0.37
0.41
(9.4)
0.39
0.38
0.37
0.35
(3.6)
Average Selling Price
Panel (Rp million /m3)
Engineered doors
(Rp million /pcs)
Engineered flooring
(Rp million /m2)
In 2016, engineered flooring
sales volume rose by 14.2%
compare to 2015, however its
ASP drop 9.4% compare to
2015.
DISCLAIMER: The views expressed here contain information derived from publicly available sources that have not been independently
verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. Any forward looking
information in this presentation has been prepared on the basis of a number of assumptions which may prove to be incorrect. This
presentation should not be relied upon as a recommendation or forecast by PT. Dharma Satya Nusantara Tbk. Nothing in this release
should be construed as either an offer to buy or sell or a solicitation of an offer to buy or sell shares in any jurisdiction.
DSNG Investor Newsletter —For further information, contact Investor Relations (investor.relations@dsngroup.co.id)
PT Dharma Satya Nusantara Tbk. Jl. Rawa Gelam V Kav OR/3B Kawasan Industri Pulogadung, Jakarta 13930 Indonesia