JAKARTA – Even though PT Dharma Satya Nusantara Tbk (DSNG)'s palm oil fresh fruit bunches (FFB) production decreased by 5.1% year-on-year (yoy), the company's revenue and net profit actually increased, supported by rising selling prices and falling fertilizer prices.

Based on the Q3 2024 Financial Report quoted today (30/10), DNSG recorded a 9% yoy increase in revenue to IDR 7.2 trillion by the end of September 2024 from IDR 6.6 trillion in the same period last year.

This was supported by an increase in the average selling price of palm oil products, both Crude Palm Oil (CPO) which rose 8%, Palm Kernel (PK) 28.2%, and Palm Kernel Oil (PKO) 22.2%, so that 86% of revenue until the end of Q3 2024 is dominated by this segment.

In fact, the company admitted that FFB production decreased due to dry weather in the Kalimantan region, bringing production from 1.64 million tonnes as of September 2023 to 1.56 million tonnes in September 2024.

Apart from that, the performance of the wood panel products segment also appears to be improving, rising 13.2% yoy to IDR 503 billion, thanks to increasing sales volume.

In terms of renewable energy, DSNG also reported a sales contribution of Palm Kernel Shells (PKS) of IDR 162 billion, from exports of 84 thousand tons of PKS, until September 2024.

"This commodity is one of the main export products marketed to Japan in collaboration with Erex Singapore Pte. Ltd," continued management via its official broadcast today (30/10).

DSNG then recorded a jump of up to 72% yoy in its net profit, from IDR 504.34 trillion to IDR 868.33 trillion at the end of September 2024.

The company's financial position also appears solid, with assets increasing 7.8% yoy to IDR 17.4 trillion, consisting of liabilities of IDR 7.8 trillion and equity of IDR 9.6 trillion. (ZH/LM)