JAKARTA – As of Q1 2024, PT Dharma Satya Nusantara Tbk (DSNG) managed to score IDR 229 billion of net profit, while sales clocked up to IDR 2.23 trillion. The profit and sales both grew 6.6% year-on-year (yoy) and 7.9% yoy from Q1 2023.

Andrianto Oetomo, President Director of DSNG, mentioned that the profit growth is in line with the increased sales of palm, wood, and renewable energy products. “Palm product segment brought in 85% or IDR 1.9 trillion of total sales,” he added in the press release quoted Tuesday (30/4).

According to Oetomo, palm sales in Q1 2024 grew 5.1% yoy from the sales in the same quarter in 2024 of IDR 1.8 trillion. This increase was triggered by an increase of 3.7% yoy in crude palm oil (CPO) sales volume, despite the average selling price (ASP) shrinking 1.9% yoy to IDR 11.74 million per ton. In addition, palm kernel oil (PKO) sales volume also grew 45.1% yoy.

“The decreased CPO ASP follows the trend of declining prices seen in all energy commodities,” Oetomo added.

For the wood product segment, DSNG reported sales contribution of IDR 269 billion, up 5.7% yoy. It was in line with increased sales volume, although the ASP of panel and engineered flooring dropped 13.2% and 3.7% yoy, respectively.

In the meantime, renewable energy product generated sales of IDR 57 billion or 2.5% of total sales from palm kernel sales to Japan. (LK/ZH)