Sampoerna Agro Tbk.
PT SAMPOERNA AGRO Tbk
COMPANY NEWSLETTER
October 2015 issue
summary
SHARE BUYBACK TILL EARLY 2016
Jakarta, 30 October 2015 – PT Sampoerna Agro Tbk. a d su sidiaries “a poer a Agro" or the
Co pa
released its unaudited financial and operational results for the period ending in 30
September 2015 9M1 .
Production volumes of key products within the Company managed to rise in 9M15 versus the same
period last year. Starting with FFB harvest, total production volume within the period escalated 5% to
reach 1.23 million tons, amidst 4% decline in plasma and third parties contribution. The increase in FFB
production was attibutable to rising nucleus production that booked 14% higher to reach 691,393 tons
in 9M15.
Both CPO and PK output registered a 7% increase in 9M15 over the same period last year 9M1
to
reach 263,985 tons and 62,428 tons respectively. Production output of our sago starch (Prima Starch)
also climbed 39% while our superior seeds (DxP Sriwijaya) output in 9M15 had already surpassed last
year full year production by more than 20% to reach 9.5 million seeds.
Despite prevailing weather conditions, we’re still anticipating higher palm oil production in the second
half of the ear, said Marc Louette, the Co pa Vi e Preside t Dire tor. That does ’t ean to say we
are spared
the egati e effe ts of the urre t dr spell, ut there’re se eral positi e for es orki g
for Sampoerna Agro such as maturing age profile of our palms and intensification efforts that have
started to show some positive results.
Apart from the growing production profile, Sampoerna Agro has successfully added couple of greenfield
concessions totaling around eight thousand hectares to grow oil palm which are located in Bengkayang
and Ketapang regencies of Western Kalimantan. The Ketapang concession is located literally adjacent to
our existing plantation estates and is only 5-15 km away from our newest palm oil mill within the area.
However, total revenue in 9M15 amounted to Rp2,141.84 billion, fall short versus the same period last
year by Rp341.04 billion. Primary reason for the fall in revenue is due to lower sales contribution from
CPO that made up 84% of total revenue. Sales contribution from CPO in 9M15 declined Rp274.34 billion
versus 9M14 as a result of 13% lower average selling price which averaged Rp7,402 per kg in 9M15
while it reached Rp8,528 in 9M14.
Earnings in 9M15 reached Rp195 bn, or 37% lower versus 9M14. Noteably though, it has improved
significantly since year beginning when we booked 70% lower earnings in 3M15, said Budi Halim,
Fi a e Dire tor of the Co pa . We have also started a share buyback program on 27 October 2015
mainly because our current EV/ha valuation is very low, even lower than our actual planting cost.
-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 2015 issue
corporate details
o
Area statement (oil palm only) as of September 2015:
Sumatra
nucleus plasma
36,623 42,809
6,512
2,124
43,135 44,933
matured
immature
total
o
Kalimantan
nucleus plasma
79,432 23,287
3,859
8,635 13,820
3,459
88,068 37,107
7,318
Sub-T
Sub-T
TOTAL
27,146
17,279
44,424
106,578
25,914
132,492
Production of 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
69,813
36,540
22,928
5,737
1,497
Apr-15 May-15
76,175 83,585
46,992 65,293
26,668 32,347
6,666
7,195
1,298
758
Jul-15
81,524
83,672
35,551
7,884
394
Aug-15
97,490
73,426
37,208
9,222
1,155
Sep-15
82,260
87,429
34,205
9,001
525
YTD 15
691,393
541,097
263,985
62,428
9,513
YTD 14
605,203
565,219
245,573
58,186
5,956
∆
+14%
-4%
+7%
+7%
+60%
Jun-15
7,617
7,617
4,599
9,195
Jul-15
7,554
7,554
4,308
7,495
Aug-15
7,227
7,301
3,826
7,407
Sep-15
6,090
6,090
3,076
7,644
YTD 15
7,402
7,413
4,397
7,940
YTD 14
8,528
8,522
5,148
7,635
∆
-13%
-13%
-15%
+4%
Jun-15
291.77
39.40
4.20
3.38
338.75
Jul-15
218.02
30.55
2.14
4.15
254.86
Aug-15
266.67
45.40
2.52
3.83
318.41
Sep-15 YTD 15
YTD 14
220.78 1,793.04 2,067.38
24.44
267.55
294.14
3.29
47.37
33.83
3.25
33.89
87.54
251.76 2,141.84 2,482.88
∆
-13%
-9%
+40%
-61%
-14%
Jun-15
98,351
90,910
39,718
9,245
727
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-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
8,096
8,096
5,141
8,035
Apr-15 May-15
7,862
7,498
7,862
7,498
5,573
4,872
7,724
7,972
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-15
162.34
16.73
5.09
4.04
188.20
Feb-15
117.04
16.30
7.53
4.61
145.48
Mar-15
156.40
24.36
9.34
3.09
193.19
Apr-15 May-15
192.71 167.30
34.15
36.22
8.34
4.92
4.19
3.36
239.39 211.80
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%
88%
84%
85%
83%
80%
11%
12%
16%
15%
17%
20%
75%
25%
72%
71%
64%
62%
60%
57%
58%
58%
52%
48%
44%
36%
38%
40%
43%
42%
42%
48%
52%
56%
50%
28%
29%
2007 2008 2009 2010 2011 2012 2013 2014 9M15
Kalimantan
Sumatra
0%
2007 2008 2009 2010 2011 2012 2013 2014 9M15
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 2015 issue
summary
SHARE BUYBACK TILL EARLY 2016
Jakarta, 30 October 2015 – PT Sampoerna Agro Tbk. a d su sidiaries “a poer a Agro" or the
Co pa
released its unaudited financial and operational results for the period ending in 30
September 2015 9M1 .
Production volumes of key products within the Company managed to rise in 9M15 versus the same
period last year. Starting with FFB harvest, total production volume within the period escalated 5% to
reach 1.23 million tons, amidst 4% decline in plasma and third parties contribution. The increase in FFB
production was attibutable to rising nucleus production that booked 14% higher to reach 691,393 tons
in 9M15.
Both CPO and PK output registered a 7% increase in 9M15 over the same period last year 9M1
to
reach 263,985 tons and 62,428 tons respectively. Production output of our sago starch (Prima Starch)
also climbed 39% while our superior seeds (DxP Sriwijaya) output in 9M15 had already surpassed last
year full year production by more than 20% to reach 9.5 million seeds.
Despite prevailing weather conditions, we’re still anticipating higher palm oil production in the second
half of the ear, said Marc Louette, the Co pa Vi e Preside t Dire tor. That does ’t ean to say we
are spared
the egati e effe ts of the urre t dr spell, ut there’re se eral positi e for es orki g
for Sampoerna Agro such as maturing age profile of our palms and intensification efforts that have
started to show some positive results.
Apart from the growing production profile, Sampoerna Agro has successfully added couple of greenfield
concessions totaling around eight thousand hectares to grow oil palm which are located in Bengkayang
and Ketapang regencies of Western Kalimantan. The Ketapang concession is located literally adjacent to
our existing plantation estates and is only 5-15 km away from our newest palm oil mill within the area.
However, total revenue in 9M15 amounted to Rp2,141.84 billion, fall short versus the same period last
year by Rp341.04 billion. Primary reason for the fall in revenue is due to lower sales contribution from
CPO that made up 84% of total revenue. Sales contribution from CPO in 9M15 declined Rp274.34 billion
versus 9M14 as a result of 13% lower average selling price which averaged Rp7,402 per kg in 9M15
while it reached Rp8,528 in 9M14.
Earnings in 9M15 reached Rp195 bn, or 37% lower versus 9M14. Noteably though, it has improved
significantly since year beginning when we booked 70% lower earnings in 3M15, said Budi Halim,
Fi a e Dire tor of the Co pa . We have also started a share buyback program on 27 October 2015
mainly because our current EV/ha valuation is very low, even lower than our actual planting cost.
-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 2015 issue
corporate details
o
Area statement (oil palm only) as of September 2015:
Sumatra
nucleus plasma
36,623 42,809
6,512
2,124
43,135 44,933
matured
immature
total
o
Kalimantan
nucleus plasma
79,432 23,287
3,859
8,635 13,820
3,459
88,068 37,107
7,318
Sub-T
Sub-T
TOTAL
27,146
17,279
44,424
106,578
25,914
132,492
Production of 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
69,813
36,540
22,928
5,737
1,497
Apr-15 May-15
76,175 83,585
46,992 65,293
26,668 32,347
6,666
7,195
1,298
758
Jul-15
81,524
83,672
35,551
7,884
394
Aug-15
97,490
73,426
37,208
9,222
1,155
Sep-15
82,260
87,429
34,205
9,001
525
YTD 15
691,393
541,097
263,985
62,428
9,513
YTD 14
605,203
565,219
245,573
58,186
5,956
∆
+14%
-4%
+7%
+7%
+60%
Jun-15
7,617
7,617
4,599
9,195
Jul-15
7,554
7,554
4,308
7,495
Aug-15
7,227
7,301
3,826
7,407
Sep-15
6,090
6,090
3,076
7,644
YTD 15
7,402
7,413
4,397
7,940
YTD 14
8,528
8,522
5,148
7,635
∆
-13%
-13%
-15%
+4%
Jun-15
291.77
39.40
4.20
3.38
338.75
Jul-15
218.02
30.55
2.14
4.15
254.86
Aug-15
266.67
45.40
2.52
3.83
318.41
Sep-15 YTD 15
YTD 14
220.78 1,793.04 2,067.38
24.44
267.55
294.14
3.29
47.37
33.83
3.25
33.89
87.54
251.76 2,141.84 2,482.88
∆
-13%
-9%
+40%
-61%
-14%
Jun-15
98,351
90,910
39,718
9,245
727
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-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
8,096
8,096
5,141
8,035
Apr-15 May-15
7,862
7,498
7,862
7,498
5,573
4,872
7,724
7,972
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-15
162.34
16.73
5.09
4.04
188.20
Feb-15
117.04
16.30
7.53
4.61
145.48
Mar-15
156.40
24.36
9.34
3.09
193.19
Apr-15 May-15
192.71 167.30
34.15
36.22
8.34
4.92
4.19
3.36
239.39 211.80
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%
88%
84%
85%
83%
80%
11%
12%
16%
15%
17%
20%
75%
25%
72%
71%
64%
62%
60%
57%
58%
58%
52%
48%
44%
36%
38%
40%
43%
42%
42%
48%
52%
56%
50%
28%
29%
2007 2008 2009 2010 2011 2012 2013 2014 9M15
Kalimantan
Sumatra
0%
2007 2008 2009 2010 2011 2012 2013 2014 9M15
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