JAKARTA – PT Teladan Prima Agro Tbk (TLDN) reported a net profit of IDR 825.59 billion, an 82.7% year-on-year (yoy) rise. In the previous year, the company's net profit stood at just IDR 451.79 billion.

In terms of top-line performance, TLDN recorded revenue of IDR 4.21 trillion, growing by 5.1%.

This increase was driven by the higher average selling prices of Crude Palm Oil (CPO) and Palm Kernel (PK), as well as production cost efficiencies.

The average selling price of CPO rose by 11.6% in 2024 to IDR 12,230 per kilogram, while PK prices surged by 56.3% to IDR 6,782 per kilogram.

Although sales volumes of CPO and PK declined by 8.5% and 27.3% respectively, the price increases helped maintain TLDN's positive financial performance.

Out of TLDN's total revenue in 2024, IDR 3.85 trillion came from CPO, while IDR 271.77 billion was generated from PK.

“The increase in the average prices of CPO and PK was able to offset the decline in sales volume, allowing TLDN’s financial performance to remain positive,” said Wishnu Wardhana, President Director of TLDN, in a press release last Sunday (23/3). (DK/KR/ZH)