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Indofood Agri Resources Got Good Financial Performance But Palm Oil Production Got Decreased



Special doc./Indofood Agri Resources: good financial performance but palm oil production got decreased.
Indofood Agri Resources Got Good Financial Performance But Palm Oil Production Got Decreased

InfoSAWIT, SINGAPORE – By 30 June 2024, Indofood Agri Resources Ltd. (IndoAgri) successfully cultivate the total plantations that laid on about 293.683 hectares. 245.283 hectares of the numbers were palm oil plantations. PT SIMP cultivated most of the plantations that laid on about 152.793 hectares, while PT Lonsum cultivated the rest that laid on about 92.490 hectares.

In the first semester of 2024 (1H24) performance report, fresh fruit bunch (FFB) from the main plantations and crude palm oil (CPO) production got decreased that reached 1% year-on-year (yoy). But CPO extraction level remained stable at 20,6%.

From financial report, the selling of IndoAgri in the 1H24 got decreased that reached 7% to the same period last year. It happened for the decreasing palm oil product volume and average selling price (ASP) of edible oil and fat (EOF).

But the net profits after tax (NPAT) of the company got increased significantly that reached 581% yoy. It happened for the increasing gross profits, the profits from the foreign exchange, the normal asset value change biologically that got more expensive, and the lower financial spent. But some of the increasing income were balanced by the loss from joint venture that got higher and the increasing income tax.

As in the official statement to InfoSAWIT, to face the future challenges, IndoAgri decided some strategic keys in 2024 such as, the focus on plantation management to increase FFB production, improve cost control, innovate to increase plantation productivity, and prioritize capital investment in the critical areas.

In EOF, IndoAgri would keep focusing on the increasing selling volume and recovery through the competitive price strategies, taking advantages on population development trend and income per capita in Indonesia.

“By the clear and on target strategies, IndoAgri would be optimist to get positive performance even though palm oil production is challenging,” the company noted as quoted from its official presentation. (T2)

Source: Majalah InfoSAWIT, August 2024


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