Investor Newsletter DSNG 9M17
PT DHARMA SATYA NUSANTARA TBK (DSNG)
INVESTOR NEWSLETTER
In the first nine months of 2017, our FFB and CPO production has
shown a significant improvement. Through September 2017, our
FFB production reached 1.2 million tons, or 69.2% higher
compared to the same period of 2016, as production has been
recovering from the El-Nino impact in 2015.
At the same time, mill productivity rose as well, with FFB
processed reaching 1.4 million tons, for an increase of 58.4%
YoY%
Q1-2017
Q2-2017
Q3-2017
1,208,363
1,079,422
128,941
713,992
640,878
73,114
69.2
68.4
76.4
388,964
345,690
43,274
444,002
398,315
45,687
375,397
335,417
39,980
(15.5)
(15.8)
(12.5)
1,092,937
977,629
115,308
1,357,951
310,037
48,989
18,589
22.83
3.04
857,094
206,875
34,689
11,527
24.14
2.38
58.4
49.9
41.2
61.3
(5.4)
27.7
452,794
99,160
15,280
4,816
21.90
3.30
500,732
113,202
17,892
7,576
22.61
3.06
404,425
97,675
15,817
6,198
24.15
2.75
(19.2)
(13.7)
(11.6)
(18.2)
6.8
(10.0)
1,306,365
311,952
51,127
17,259
23.88
2.60
347,115
7,326
19,002
231,391
7,678
12,051
50.0
(4.6)
57.7
97,750
2,858
7,001
143,336
2,282
5,001
106,029
2,186
7,000
(26.0)
(4.2)
40.0
348,391
11,067
17,451
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016
2017
32,964
36,192
33,459
30,860
35,922
27,370
33,355
16,378
28,716
15,293
38,677
FY2016
45,809
22,330
24,125
31,745
40,605
29,092
23,274
26,810
21,299
27,715
121,659
128,381
128,906
QoQ%
CPO PRODUCTION (TONS)
2017
117,618
126,352
56,126
118,041
53,465
79,199
81,161
2016
131,428
168,548
157,413
162,188
93,335
122,488
82,258
104,288
76,006
The company's CPO sales volume was 347.1 thousand tons, an
increase of 50.0%, with the average selling price in first nine
months of 2017 of Rp 8.1 million per ton, 11.8% higher compare
to the same period last year of Rp 7.3 million per ton.
9M-2016
FFB PRODUCTION (TONS)
95,328
compared to same period last year, while CPO production also
rose by 49.9% to 310.0 thousand tons.
9M-2017
97,114
Plantation Performance
FFB Production (ton)
- FFB Nucleus (ton)
- FFB Plasma (ton)
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)
Number 23 | October 2017
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
KPB Medan 2016
DSN 2016
AVERAGE SELLING PRICE (Rp '000/TONS)
KPB Medan 2017
DSN 2017
8,968
8,700
8,824
8,156
8,189
7,911
7,775
6,487
5,977
Jan
8,354
8,234
7,549
7,981
7,747
7,227
7,800
7,637
8,224
7,643
7,636
6,167
Feb
Mar
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 September
7, the co pa y s total pla ted
area, including nucleus and plasma, reached 90,288
hectares, with the average age of 8.6 years. We
continue to review our available land bank for future
planting.
Planted
(as of September 2017)
(ha)
Average
Age (yr)
Planted Hectarage
Nucleus
9.5
60,527
Total Planted
(ha)
69,369
Plasma
5.3
11,818
20,920
Total
8.6
72,345
90,288
Matured (ha)
WOOD PRODUCTS BUSINESS
In the first nine months of 2017,
our panel and engineered door
recorded a decreased in sales
volume, while engineered
flooring increase slightly by 2.2%.
Sales volume of our wood
product in the last three months,
however, showed a significant
increase compared to the
previous quarter due to the
higher demand.
Average selling price of panel
and engineered flooring rose by
8.3% and 1.4% respectively,
while engineered door
decreased slightly of 0.8%.
9M-2017
Q3-2017 QoQ%
FY2016
9M-2016 % YoY
Q1-2017
Q2-2017
17,490
15,085
18,265
21.1
92,235
Sales Volume
Panel (m3)
50,839
73,357 (30.7)
Engineered doors (Pcs)
45,066
47,102
(4.3)
8,991
13,011
23,064
77.3
59,447
952,604
932,130
2.2
334,232
257,769
360,603
39.9
1,254,642
5.21
4.81
8.3
5.04
5.18
5.44
4.7
4.86
1.02
1.02
(0.8)
1.06
1.14
0.93 (18.2)
1.06
0.38
0.38
1.4
0.37
0.39
0.39
0.37
Engineered flooring
(M2)
Average Selling Price (ASP)
Panel (Rp million /m3)
Engineered doors
(Rp million /pcs)
Engineered flooring
(Rp million /m2)
1.8
FINANCIAL SUMMARY
In the third quarter of 2017, the Company generated
net sales of Rp 3.9 trillion, an increased of 47.1%
compared to the same period last year, primarily due
to the higher of CPO production and an increase of
CPO pricing.
Gross profit and operating profit rose significantly by
118.8.2% and 265.3% respectively. The Company
posted nine-month EBITDA of Rp 1.1 trillion , 132.1%
higher compared to the same period last year. Our
EBITDA margin also increased from 17.4% in nine
months of 2016 to 27.5% in 2017.
The Company booked net income attributable to
owners of the Company of Rp 412.4 billion in the
third quarter of 2017, up from Rp 17.3 billion in the
same period last year, as a result of stronger
operating performance.
Net Sales
Cost of Sales
Gross Profit
% margin
Operating Profit
% margin
Profit Before Income Tax
% margin
EBITDA
% margin
Net Income attributable to
owners of the Company
30 Sept 2017
3,891,545
(2,639,270)
1,252,275
32.2%
806,076
20.75
604,572
In Million Rupiah
30 Sept 2016
2,644,906
(2,072,545)
572,361
21.6%
220,671
8.3%
49,399
15.5%
1,070,852
27.5%
1.9%
461,442
17.5%
412,447
17,282
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 ([email protected])
PT Dharma Satya Nusantara Tbk. Jl. Rawa Gelam V Kav OR/3B Kawasan Industri Pulogadung, Jakarta 13930 Indonesia
INVESTOR NEWSLETTER
In the first nine months of 2017, our FFB and CPO production has
shown a significant improvement. Through September 2017, our
FFB production reached 1.2 million tons, or 69.2% higher
compared to the same period of 2016, as production has been
recovering from the El-Nino impact in 2015.
At the same time, mill productivity rose as well, with FFB
processed reaching 1.4 million tons, for an increase of 58.4%
YoY%
Q1-2017
Q2-2017
Q3-2017
1,208,363
1,079,422
128,941
713,992
640,878
73,114
69.2
68.4
76.4
388,964
345,690
43,274
444,002
398,315
45,687
375,397
335,417
39,980
(15.5)
(15.8)
(12.5)
1,092,937
977,629
115,308
1,357,951
310,037
48,989
18,589
22.83
3.04
857,094
206,875
34,689
11,527
24.14
2.38
58.4
49.9
41.2
61.3
(5.4)
27.7
452,794
99,160
15,280
4,816
21.90
3.30
500,732
113,202
17,892
7,576
22.61
3.06
404,425
97,675
15,817
6,198
24.15
2.75
(19.2)
(13.7)
(11.6)
(18.2)
6.8
(10.0)
1,306,365
311,952
51,127
17,259
23.88
2.60
347,115
7,326
19,002
231,391
7,678
12,051
50.0
(4.6)
57.7
97,750
2,858
7,001
143,336
2,282
5,001
106,029
2,186
7,000
(26.0)
(4.2)
40.0
348,391
11,067
17,451
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016
2017
32,964
36,192
33,459
30,860
35,922
27,370
33,355
16,378
28,716
15,293
38,677
FY2016
45,809
22,330
24,125
31,745
40,605
29,092
23,274
26,810
21,299
27,715
121,659
128,381
128,906
QoQ%
CPO PRODUCTION (TONS)
2017
117,618
126,352
56,126
118,041
53,465
79,199
81,161
2016
131,428
168,548
157,413
162,188
93,335
122,488
82,258
104,288
76,006
The company's CPO sales volume was 347.1 thousand tons, an
increase of 50.0%, with the average selling price in first nine
months of 2017 of Rp 8.1 million per ton, 11.8% higher compare
to the same period last year of Rp 7.3 million per ton.
9M-2016
FFB PRODUCTION (TONS)
95,328
compared to same period last year, while CPO production also
rose by 49.9% to 310.0 thousand tons.
9M-2017
97,114
Plantation Performance
FFB Production (ton)
- FFB Nucleus (ton)
- FFB Plasma (ton)
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)
Number 23 | October 2017
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
KPB Medan 2016
DSN 2016
AVERAGE SELLING PRICE (Rp '000/TONS)
KPB Medan 2017
DSN 2017
8,968
8,700
8,824
8,156
8,189
7,911
7,775
6,487
5,977
Jan
8,354
8,234
7,549
7,981
7,747
7,227
7,800
7,637
8,224
7,643
7,636
6,167
Feb
Mar
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 September
7, the co pa y s total pla ted
area, including nucleus and plasma, reached 90,288
hectares, with the average age of 8.6 years. We
continue to review our available land bank for future
planting.
Planted
(as of September 2017)
(ha)
Average
Age (yr)
Planted Hectarage
Nucleus
9.5
60,527
Total Planted
(ha)
69,369
Plasma
5.3
11,818
20,920
Total
8.6
72,345
90,288
Matured (ha)
WOOD PRODUCTS BUSINESS
In the first nine months of 2017,
our panel and engineered door
recorded a decreased in sales
volume, while engineered
flooring increase slightly by 2.2%.
Sales volume of our wood
product in the last three months,
however, showed a significant
increase compared to the
previous quarter due to the
higher demand.
Average selling price of panel
and engineered flooring rose by
8.3% and 1.4% respectively,
while engineered door
decreased slightly of 0.8%.
9M-2017
Q3-2017 QoQ%
FY2016
9M-2016 % YoY
Q1-2017
Q2-2017
17,490
15,085
18,265
21.1
92,235
Sales Volume
Panel (m3)
50,839
73,357 (30.7)
Engineered doors (Pcs)
45,066
47,102
(4.3)
8,991
13,011
23,064
77.3
59,447
952,604
932,130
2.2
334,232
257,769
360,603
39.9
1,254,642
5.21
4.81
8.3
5.04
5.18
5.44
4.7
4.86
1.02
1.02
(0.8)
1.06
1.14
0.93 (18.2)
1.06
0.38
0.38
1.4
0.37
0.39
0.39
0.37
Engineered flooring
(M2)
Average Selling Price (ASP)
Panel (Rp million /m3)
Engineered doors
(Rp million /pcs)
Engineered flooring
(Rp million /m2)
1.8
FINANCIAL SUMMARY
In the third quarter of 2017, the Company generated
net sales of Rp 3.9 trillion, an increased of 47.1%
compared to the same period last year, primarily due
to the higher of CPO production and an increase of
CPO pricing.
Gross profit and operating profit rose significantly by
118.8.2% and 265.3% respectively. The Company
posted nine-month EBITDA of Rp 1.1 trillion , 132.1%
higher compared to the same period last year. Our
EBITDA margin also increased from 17.4% in nine
months of 2016 to 27.5% in 2017.
The Company booked net income attributable to
owners of the Company of Rp 412.4 billion in the
third quarter of 2017, up from Rp 17.3 billion in the
same period last year, as a result of stronger
operating performance.
Net Sales
Cost of Sales
Gross Profit
% margin
Operating Profit
% margin
Profit Before Income Tax
% margin
EBITDA
% margin
Net Income attributable to
owners of the Company
30 Sept 2017
3,891,545
(2,639,270)
1,252,275
32.2%
806,076
20.75
604,572
In Million Rupiah
30 Sept 2016
2,644,906
(2,072,545)
572,361
21.6%
220,671
8.3%
49,399
15.5%
1,070,852
27.5%
1.9%
461,442
17.5%
412,447
17,282
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 ([email protected])
PT Dharma Satya Nusantara Tbk. Jl. Rawa Gelam V Kav OR/3B Kawasan Industri Pulogadung, Jakarta 13930 Indonesia