SGRO.IJ newsletter english
PT SAMPOERNA AGRO Tbk.
COMPANY NEWSLETTER
April 2012 issue
summary
CPO FINALLY MAKING A COMEBACK
Jakarta, 30 April 2012 – PT Sampoerna Agro Tbk. and subsidiaries “a poer a Agro" or the
Co pa
released its unaudited financial and operational results for the period ending in 31 March
2012.
Market pri e for Crude Pal Oil CPO fi all began to make its first upward move from Rm3,014/ton
in fourth quarter 2011 to Rm3,218/ton in first quarter 2012, its first break after making three
consecutive drops in quarterly average. The increase has also affected the Company selling price
positively. Sampoerna Agro sold its CPO with an average price of Rp7,676/kg within the first quarter
2012, or 6% higher than its fourth quarter 2011 average.
But when we compare year-on-year YoY , the 2012 price of Rm3,218/ton is still 12% lower versus the
same period last year. This is the main cause for the 10% drop in revenue for the period ending in 31
March 2012. Within the first quarter 2012, Sampoerna Agro managed to record Rp683.52 billion in
revenue.
Despite 8% lower average selling price in the first quarter 2012 versus first quarter of 2011, revenue
contribution from CPO managed to climb 2% higher to Rp612.04 billion. Reason for the increase was
inventory sell down resulting in higher sales volume of CPO in the first quarter 2012 by 11% versus the
same period of last year, amidst 31% lower output in 2012.
The Company produced 56,709 tons of CPO between January till March 2012, or 31% lower than the
same period of last year. Total Fresh Fruit Bu h FFB output was 258,099 tons, 33% lower versus
383,673 tons recorded in first quarter of 2011. The output figure consisted of FFB production from its
nucleus estates as well as FFB purchased from third parties which were mostly from its plasma farmers
under guidance.
After passing food safety test from Bada Pe gawas O at da Maka a
BPOM on 15 February
earlier this year, Prima Starch, the Company sago starch product, managed to obtain another
certification. This time by Majelis Ula a I do esia through their Halal ertifi ate o 14 April 2012.
-o0o-
Sumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585
Kalimantan: Jln. Malijo No.21, Kotawaringin Barat 74112, Indonesia Tel / Fax +62-532 24264
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 2012 issue
corporate details
o
Area statement (oil palm only) as of Mar 2012:
mature
immature
total
o
Sumatra
nucleus plasma
30,160
41,002
7,919
2,638
38,079
43,640
Sub-T
71,162
10,557
81,719
Kalimantan
nucleus
mitra
18,455
2,503
5,591
1,062
24,046
3,565
Sub-T
TOTAL
20,958
6,653
27,611
92,120
17,210
109,331
Production of several key products:
FFB - Smtra
FFB - Klmtn
CPO
P.Kernel
G.Seeds
Unit
ton
ton
ton
ton
1000s
Jan-12
64,353
19,428
18,577
4,408
885
Feb-12
62,826
23,489
18,733
5,231
928
Mar-12
59,691
28,311
19,399
5,311
774
YTD 12
186,871
71,229
56,709
14,950
2,588
Jan-11
105,871
23,781
28,243
6,583
1,201
Feb-11
102,530
19,928
26,711
6,356
1,230
Mar-11
109,185
22,379
27,710
6,740
1,077
YTD 11
Change
317,585 -41.2%
66,088 +7.8%
82,664 -31.4%
19,680 -24.0%
3,508 -26.2%
Note: Not all FFB was processed by palm oil mill within the same month it was harvested
o
Average net selling price of several key products:
Unit
Rp/kg
Rp/kg
Rp/kg
Rp/seed
CPO
CPOᵋ
P.Kernel
G.Seeds
Jan-12
7,595
7,131
3,999
6,612
Feb-12
7,666
7,666
4,055
7,401
Mar-12
7,823
7,582
4,454
6,937
YTD 12
7,676
7,439
4,136
7,002
Jan-11
8,880
8,568
6,782
6,845
Feb-11
8,402
8,006
6,788
6,847
Mar-11
7,721
7,721
6,423
6,951
YTD 11
Change
8,357
-8.1%
8,126
-8.5%
6,675 -38.0%
6,877 +1.8%
Feb-12
228.66
17.51
5.84
0.00
252.00
Mar-12
148.99
14.14
5.09
0.91
169.14
YTD 12
612.04
50.79
15.46
5.23
683.52
Jan-11
246.34
44.29
6.15
0.75
297.54
Feb-11
169.05
41.00
6.22
10.23
226.50
Mar-11
187.38
35.27
5.32
7.26
235.23
YTD 11
Change
602.78 +1.5%
120.56 -57.9%
17.69 -12.6%
18.24 -71.3%
759.27 -10.0%
Note: CPOᵋ pri e is et of e port ta
Unaudited sales data:
Unit
Rp bn
Rp bn
Rp bn
Rp bn
Rp bn
CPO
P.Kernel
G.Seeds
Others
Total Sales
Jan-12
234.39
19.14
4.53
4.32
262.38
Note: Others are revenue generated from sago, rubber, PKO, and PKE
P.Kernel Sales
610
605
600
595
G.Seed Sales
150
billions of IDR
615
billions of IDR
billions of IDR
CPO Sales
100
50
0
1Q11
1Q12
20
15
10
1Q11
1Q11
1Q12
1Q12
CPO price versus SGRO stock price
3,500
3,400
3,300
3,200
3,100
3,000
3,500
3,300
3,100
2,900
2,700
2-Jan
24-Jan
14-Feb
22-Feb
MPOB (MYR)
1-Mar
9-Mar
19-Mar
IDR
MYR
o
27-Mar
SGRO (IDR)
For further inquiries, please contact us at [email protected]
Sumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585
Kalimantan: Jln. Malijo No.21, Kotawaringin Barat 74112, Indonesia Tel / Fax +62-532 24264
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 2012 issue
summary
CPO FINALLY MAKING A COMEBACK
Jakarta, 30 April 2012 – PT Sampoerna Agro Tbk. and subsidiaries “a poer a Agro" or the
Co pa
released its unaudited financial and operational results for the period ending in 31 March
2012.
Market pri e for Crude Pal Oil CPO fi all began to make its first upward move from Rm3,014/ton
in fourth quarter 2011 to Rm3,218/ton in first quarter 2012, its first break after making three
consecutive drops in quarterly average. The increase has also affected the Company selling price
positively. Sampoerna Agro sold its CPO with an average price of Rp7,676/kg within the first quarter
2012, or 6% higher than its fourth quarter 2011 average.
But when we compare year-on-year YoY , the 2012 price of Rm3,218/ton is still 12% lower versus the
same period last year. This is the main cause for the 10% drop in revenue for the period ending in 31
March 2012. Within the first quarter 2012, Sampoerna Agro managed to record Rp683.52 billion in
revenue.
Despite 8% lower average selling price in the first quarter 2012 versus first quarter of 2011, revenue
contribution from CPO managed to climb 2% higher to Rp612.04 billion. Reason for the increase was
inventory sell down resulting in higher sales volume of CPO in the first quarter 2012 by 11% versus the
same period of last year, amidst 31% lower output in 2012.
The Company produced 56,709 tons of CPO between January till March 2012, or 31% lower than the
same period of last year. Total Fresh Fruit Bu h FFB output was 258,099 tons, 33% lower versus
383,673 tons recorded in first quarter of 2011. The output figure consisted of FFB production from its
nucleus estates as well as FFB purchased from third parties which were mostly from its plasma farmers
under guidance.
After passing food safety test from Bada Pe gawas O at da Maka a
BPOM on 15 February
earlier this year, Prima Starch, the Company sago starch product, managed to obtain another
certification. This time by Majelis Ula a I do esia through their Halal ertifi ate o 14 April 2012.
-o0o-
Sumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585
Kalimantan: Jln. Malijo No.21, Kotawaringin Barat 74112, Indonesia Tel / Fax +62-532 24264
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 2012 issue
corporate details
o
Area statement (oil palm only) as of Mar 2012:
mature
immature
total
o
Sumatra
nucleus plasma
30,160
41,002
7,919
2,638
38,079
43,640
Sub-T
71,162
10,557
81,719
Kalimantan
nucleus
mitra
18,455
2,503
5,591
1,062
24,046
3,565
Sub-T
TOTAL
20,958
6,653
27,611
92,120
17,210
109,331
Production of several key products:
FFB - Smtra
FFB - Klmtn
CPO
P.Kernel
G.Seeds
Unit
ton
ton
ton
ton
1000s
Jan-12
64,353
19,428
18,577
4,408
885
Feb-12
62,826
23,489
18,733
5,231
928
Mar-12
59,691
28,311
19,399
5,311
774
YTD 12
186,871
71,229
56,709
14,950
2,588
Jan-11
105,871
23,781
28,243
6,583
1,201
Feb-11
102,530
19,928
26,711
6,356
1,230
Mar-11
109,185
22,379
27,710
6,740
1,077
YTD 11
Change
317,585 -41.2%
66,088 +7.8%
82,664 -31.4%
19,680 -24.0%
3,508 -26.2%
Note: Not all FFB was processed by palm oil mill within the same month it was harvested
o
Average net selling price of several key products:
Unit
Rp/kg
Rp/kg
Rp/kg
Rp/seed
CPO
CPOᵋ
P.Kernel
G.Seeds
Jan-12
7,595
7,131
3,999
6,612
Feb-12
7,666
7,666
4,055
7,401
Mar-12
7,823
7,582
4,454
6,937
YTD 12
7,676
7,439
4,136
7,002
Jan-11
8,880
8,568
6,782
6,845
Feb-11
8,402
8,006
6,788
6,847
Mar-11
7,721
7,721
6,423
6,951
YTD 11
Change
8,357
-8.1%
8,126
-8.5%
6,675 -38.0%
6,877 +1.8%
Feb-12
228.66
17.51
5.84
0.00
252.00
Mar-12
148.99
14.14
5.09
0.91
169.14
YTD 12
612.04
50.79
15.46
5.23
683.52
Jan-11
246.34
44.29
6.15
0.75
297.54
Feb-11
169.05
41.00
6.22
10.23
226.50
Mar-11
187.38
35.27
5.32
7.26
235.23
YTD 11
Change
602.78 +1.5%
120.56 -57.9%
17.69 -12.6%
18.24 -71.3%
759.27 -10.0%
Note: CPOᵋ pri e is et of e port ta
Unaudited sales data:
Unit
Rp bn
Rp bn
Rp bn
Rp bn
Rp bn
CPO
P.Kernel
G.Seeds
Others
Total Sales
Jan-12
234.39
19.14
4.53
4.32
262.38
Note: Others are revenue generated from sago, rubber, PKO, and PKE
P.Kernel Sales
610
605
600
595
G.Seed Sales
150
billions of IDR
615
billions of IDR
billions of IDR
CPO Sales
100
50
0
1Q11
1Q12
20
15
10
1Q11
1Q11
1Q12
1Q12
CPO price versus SGRO stock price
3,500
3,400
3,300
3,200
3,100
3,000
3,500
3,300
3,100
2,900
2,700
2-Jan
24-Jan
14-Feb
22-Feb
MPOB (MYR)
1-Mar
9-Mar
19-Mar
IDR
MYR
o
27-Mar
SGRO (IDR)
For further inquiries, please contact us at [email protected]
Sumatera: Jln. Basuki Rahmat No. 788, Palembang 30127, Sumatera Selatan, Indonesia Tel +62-711 813388 Fax +62-711 811585
Kalimantan: Jln. Malijo No.21, Kotawaringin Barat 74112, Indonesia Tel / Fax +62-532 24264
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