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DSNG Got Profits Rp 842 Billion in 2023

Doc. of DSNG for InfoSAWIT/Mechanism application in palm oil plantations of DSNG
DSNG Got Profits Rp 842 Billion in 2023

InfoSAWIT, JAKARTA – Palm oil and wood plantation company, PT Dharma Satya Nusantara Tbk (DSNG) got the 2023 profits about Rp 842 billion. The numbers were from the trade that reached Rp 9,5 trillion. Palm oil business still becomes the main segment that contributes to the income of the reached 88% or 8,4 trillion, escalated 3% year-on-year (YoY) to Rp 8,1 trillion.

In bottom line, the profits of the company got correction 30% YoY or about Rp 365 billion to Rp 1,2 trillion. This happened for the increasing costs of trade because of fertilizers getting more expensive, the decreasing selling volume, and decreasing average price of wood. The company got EBITDA about Rp 2,4 trillion in 2023.

“In 2023 selling costs increased about Rp 455 billion or 7% to 2022 because of the increasing fertilizer price. As the result, the profits of the company was significantly corrected though the selling volume and crude palm oil average selling price increased 4% and 1,9% YoY,” President Director of DSNG, Andrianto Oetomo said, as in the official statement to InfoSAWIT, Thursday (29/2/2024).

In wood products, the sluggishness in many countries that happened since the late of 2022 would be the big challenge for the company in 2023. The decreasing demands from many exporter countries, such as, USA, Canada, Europe, and Japan kept happening in 2023 as same as the high interest rate for a very long time. This was negative for the property markets.

Wood products contributed to the income of the company about 12% or about Rp 1,1 trillion. The numbers got decreased 29% YoY to Rp 1,5 trillion. Panel and flooring product selling volume decreased 14% and 34% YoY for each, though the selling per quarter in 2023 still increased. Panel product average selling price decreased 17,5% YoY while flooring product average selling price increased 1,3% YoY.

“Knowing wood product markets in 2023, the company encouraged that wood product financial performance would remain positive in the challenging situation. DSNG would also have the chance to take over the markets that many wood industries once did not produce last year,” Andrianto said. (T2)