20161028 SGRO newsletter english
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
October 2016 issue
summary
DUE TIME FOR A REBOUND
Jakarta, 31 October 2016 – PT “a poer a Agro T k. a d su sidiaries “a poer a Agro" or the
Co pa
released its u audited fi a ial a d operatio al results for the period e di g in 30
September 2016 9M16 .
Harvests in third quarter of 2016
Q 6 had re o ered sig ifi antly over the previous quarter. FFB
output in 3Q16 climbed 51% to reach 250,304 tons from 165,856 tons booked in second quarter 2016
Q 6 . Kalimantan estates booked 7% increase within the period, which meant that much of the
production recovery was largely attributable to South Sumatra estates that saw 111% quarterly upturn.
However, consolidated FFB output for the nine months of 2016 reached 703,981 tons, or 43% less
versus the same period in 2015.
FFB produ tio had re ou ded stro gl starting August 2016 after going through 10 months of
downtrend, a phenomena last seen in 2013. Production from our nucleus estates for instance, recorded
a 47% increase last August while plasma surged 9 % o er Jul ’s olu e, said Marc Louette, CEO of the
Company. The strong rebound accelerated even more in September; nucleus estates booked 100%
o thl i rease hile plas a estates surged 96%.
However, the peak for the year is still et to o e, Mar added. Second reason to be hopeful in the
coming months comes from the palm oil price. We notice bullish sentiments within the commodity
markets is on the rise and that price should remain elevated till at least mid of next year.
In revenue terms, the Company booked Rp1,488.32 billion in 9M16, or 31% lower than 9M15. The yearon-year revenue decline was undoubtedly due to subdued sales volume that resulted from the
production decline. Sales volume of CPO in 9M16 only amounted to 165,817 tons, or 32% lower than
242,253 tons booked in 9M15. PK sales volume also declined from 60,846 tons to a mere 31,570 tons, or
48% lower.
As of September 2016, we sold our CPO at an average price of Rp7,144 per kg for the year, or 3% below
Rp7,402 per kg booked in 9M15. Despite elevated price levels seen in the past six months, they were not
supported by high sales volumes due to last ear’s e tre e dr spell. Average selling price for PK on the
other hand, managed to appreciate 32% from Rp4,397 per kg in 9M15 to reach Rp5,814 per kg in 9M16.
The increase was attributable to favorable lauric oil market conditions.
-o0o-
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
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
October 2016 issue
corporate details
o
Area statement as of September 2016:
matured
immature
total
Oil Palm
Nucleus Plasma
65,520 47,967
18,857
5,651
84,377 53,618
Sub-T
113,487
24,508
137,995
Other crops
Sago Rubber Others
1,403
183
11,378 12,772
598
12,781 12,955
598
TOTAL
115,072
49,256
164,328
Note: area statement have not included PT. API
o
Production of key products:
in tons
FFB - nucleus
FFB - external
CPO
P.Kernel
G.Seeds (1000s)
Jan-16
80,650
59,671
31,402
6,611
910
Feb-16
51,507
31,255
18,313
3,708
1,912
Mar-16
45,020
19,719
13,963
3,135
1,562
Apr-16
39,904
15,169
11,507
2,670
514
May-16
41,375
16,242
12,143
2,454
550
Jun-16
38,753
14,412
11,399
2,319
223
Jul-16
29,111
10,672
8,372
1,710
459
Aug-16
42,810
20,747
12,043
2,594
352
Sep-16
85,524
61,440
27,826
6,637
191
YTD 16
454,654
249,327
146,968
31,836
6,673
YTD 15
691,393
541,097
263,985
62,428
9,513
∆
-34%
-54%
-44%
-49%
-30%
YTD 16
7,144
7,144
5,814
8,006
YTD 15
7,402
7,390
4,397
7,687
∆
-3%
-3%
+32%
+4%
Note: Not all FFB was processed by palm oil mill within the same day it was harvested
o
Average selling price of key products:
in Rp/kg
Jan-16
CPO
6,261
CPOᵋ
6,261
P.Kernel
4,465
G.Seeds (Rp/unit) 7,629
Feb-16
6,560
6,560
4,996
7,735
Mar-16
7,071
7,071
5,175
7,857
Apr-16
7,716
7,716
6,223
7,797
May-16
8,181
8,181
6,324
8,154
Jun-16
7,810
7,810
6,654
9,295
Jul-16
7,646
7,646
6,690
8,348
Aug-16
7,264
7,264
6,847
8,068
Sep-16
8,252
8,252
7,186
8,555
Apr-16
79.80
19.10
4.93
11.68
115.50
May-16
98.01
13.64
6.15
5.73
123.53
Jun-16
88.68
18.09
3.67
6.63
117.07
Jul-16
89.36
7.57
2.13
5.03
104.09
Aug-16
66.91
20.32
2.75
7.38
97.36
Sep-16 YTD 16
YTD 15
∆
162.34 1,184.59 1,793.04 -34%
35.64
183.55
267.55 -31%
4.36
50.12
47.37 +6%
8.91
70.06
33.89 +107%
211.25 1,488.32 2,141.84 -31%
Note: CPOᵋ pri e is et of e port ta
o
Revenue breakdown by key products:
in Rp bn
CPO
P.Kernel
G.Seeds
Others
Total Sales
Jan-16
233.45
36.04
7.21
5.93
282.63
Feb-16
228.55
12.75
10.17
4.04
255.52
Mar-16
137.49
20.40
8.76
14.72
181.37
Note: Others are revenue generated from sago, rubber, FFB, palm kernel products, and electricity
FFB output (Kalimantan vs Sumatra)
FFB output (Nucleus vs Plasma)
100%
100%
50%
75% 72% 74%
89% 88% 84% 85% 83% 80%
0%
25% 28% 26%
11% 12% 16% 15% 17% 20%
50%
Sumatra
65%
52% 54%
36% 38% 40% 43% 42% 42% 48%
42%
2007 2008 2009 2010 2011 2012 2013 2014 2015 9M16
Kalimantan
35%
48% 46%
64% 62% 60% 57% 58% 58% 52%
58%
0%
2007 2008 2009 2010 2011 2012 2013 2014 2015 9M16
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
October 2016 issue
summary
DUE TIME FOR A REBOUND
Jakarta, 31 October 2016 – PT “a poer a Agro T k. a d su sidiaries “a poer a Agro" or the
Co pa
released its u audited fi a ial a d operatio al results for the period e di g in 30
September 2016 9M16 .
Harvests in third quarter of 2016
Q 6 had re o ered sig ifi antly over the previous quarter. FFB
output in 3Q16 climbed 51% to reach 250,304 tons from 165,856 tons booked in second quarter 2016
Q 6 . Kalimantan estates booked 7% increase within the period, which meant that much of the
production recovery was largely attributable to South Sumatra estates that saw 111% quarterly upturn.
However, consolidated FFB output for the nine months of 2016 reached 703,981 tons, or 43% less
versus the same period in 2015.
FFB produ tio had re ou ded stro gl starting August 2016 after going through 10 months of
downtrend, a phenomena last seen in 2013. Production from our nucleus estates for instance, recorded
a 47% increase last August while plasma surged 9 % o er Jul ’s olu e, said Marc Louette, CEO of the
Company. The strong rebound accelerated even more in September; nucleus estates booked 100%
o thl i rease hile plas a estates surged 96%.
However, the peak for the year is still et to o e, Mar added. Second reason to be hopeful in the
coming months comes from the palm oil price. We notice bullish sentiments within the commodity
markets is on the rise and that price should remain elevated till at least mid of next year.
In revenue terms, the Company booked Rp1,488.32 billion in 9M16, or 31% lower than 9M15. The yearon-year revenue decline was undoubtedly due to subdued sales volume that resulted from the
production decline. Sales volume of CPO in 9M16 only amounted to 165,817 tons, or 32% lower than
242,253 tons booked in 9M15. PK sales volume also declined from 60,846 tons to a mere 31,570 tons, or
48% lower.
As of September 2016, we sold our CPO at an average price of Rp7,144 per kg for the year, or 3% below
Rp7,402 per kg booked in 9M15. Despite elevated price levels seen in the past six months, they were not
supported by high sales volumes due to last ear’s e tre e dr spell. Average selling price for PK on the
other hand, managed to appreciate 32% from Rp4,397 per kg in 9M15 to reach Rp5,814 per kg in 9M16.
The increase was attributable to favorable lauric oil market conditions.
-o0o-
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
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
October 2016 issue
corporate details
o
Area statement as of September 2016:
matured
immature
total
Oil Palm
Nucleus Plasma
65,520 47,967
18,857
5,651
84,377 53,618
Sub-T
113,487
24,508
137,995
Other crops
Sago Rubber Others
1,403
183
11,378 12,772
598
12,781 12,955
598
TOTAL
115,072
49,256
164,328
Note: area statement have not included PT. API
o
Production of key products:
in tons
FFB - nucleus
FFB - external
CPO
P.Kernel
G.Seeds (1000s)
Jan-16
80,650
59,671
31,402
6,611
910
Feb-16
51,507
31,255
18,313
3,708
1,912
Mar-16
45,020
19,719
13,963
3,135
1,562
Apr-16
39,904
15,169
11,507
2,670
514
May-16
41,375
16,242
12,143
2,454
550
Jun-16
38,753
14,412
11,399
2,319
223
Jul-16
29,111
10,672
8,372
1,710
459
Aug-16
42,810
20,747
12,043
2,594
352
Sep-16
85,524
61,440
27,826
6,637
191
YTD 16
454,654
249,327
146,968
31,836
6,673
YTD 15
691,393
541,097
263,985
62,428
9,513
∆
-34%
-54%
-44%
-49%
-30%
YTD 16
7,144
7,144
5,814
8,006
YTD 15
7,402
7,390
4,397
7,687
∆
-3%
-3%
+32%
+4%
Note: Not all FFB was processed by palm oil mill within the same day it was harvested
o
Average selling price of key products:
in Rp/kg
Jan-16
CPO
6,261
CPOᵋ
6,261
P.Kernel
4,465
G.Seeds (Rp/unit) 7,629
Feb-16
6,560
6,560
4,996
7,735
Mar-16
7,071
7,071
5,175
7,857
Apr-16
7,716
7,716
6,223
7,797
May-16
8,181
8,181
6,324
8,154
Jun-16
7,810
7,810
6,654
9,295
Jul-16
7,646
7,646
6,690
8,348
Aug-16
7,264
7,264
6,847
8,068
Sep-16
8,252
8,252
7,186
8,555
Apr-16
79.80
19.10
4.93
11.68
115.50
May-16
98.01
13.64
6.15
5.73
123.53
Jun-16
88.68
18.09
3.67
6.63
117.07
Jul-16
89.36
7.57
2.13
5.03
104.09
Aug-16
66.91
20.32
2.75
7.38
97.36
Sep-16 YTD 16
YTD 15
∆
162.34 1,184.59 1,793.04 -34%
35.64
183.55
267.55 -31%
4.36
50.12
47.37 +6%
8.91
70.06
33.89 +107%
211.25 1,488.32 2,141.84 -31%
Note: CPOᵋ pri e is et of e port ta
o
Revenue breakdown by key products:
in Rp bn
CPO
P.Kernel
G.Seeds
Others
Total Sales
Jan-16
233.45
36.04
7.21
5.93
282.63
Feb-16
228.55
12.75
10.17
4.04
255.52
Mar-16
137.49
20.40
8.76
14.72
181.37
Note: Others are revenue generated from sago, rubber, FFB, palm kernel products, and electricity
FFB output (Kalimantan vs Sumatra)
FFB output (Nucleus vs Plasma)
100%
100%
50%
75% 72% 74%
89% 88% 84% 85% 83% 80%
0%
25% 28% 26%
11% 12% 16% 15% 17% 20%
50%
Sumatra
65%
52% 54%
36% 38% 40% 43% 42% 42% 48%
42%
2007 2008 2009 2010 2011 2012 2013 2014 2015 9M16
Kalimantan
35%
48% 46%
64% 62% 60% 57% 58% 58% 52%
58%
0%
2007 2008 2009 2010 2011 2012 2013 2014 2015 9M16
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