21 Feb DSNG Distributes Dividend of Rp 10 per share
JAKARTA, 9 MAY 2019 – Annual General Meeting of Shareholders (“AGM”) of PT Dharma Satya Nusantara Tbk (“the Company”, “DSNG”) agreed to distribute cash dividends to shareholders of Rp. 104.6 billion or Rp. 10 per share. The total dividends distributed reached 25% of the profits attributable to the owners of the parent in 2018 amounting to Rp 420.5 billion.
The Company conducted AGM today at the Financial Hall, Graha CIMB Niaga 2nd Floor, Jalan Jenderal Sudirman Kav. 58 Jakarta. The AGM was attended by the Board of Directors and Board of Commissioners of the Company.
The AGM agendas are including the approval to change the composition of the management of the Company following the resignation of the Company’s Board of Directors Mr. Ricky Budiarto and approval to amend the Article 3 of the Company’s Articles of Association with the Indonesia Standard Industrial Classification (KBLI) 2017 following the implementation of Online Single Submission (OSS).
In addition, the Company also held a Public Expose which was attended by the Company’s management. In his presentation, the President Director of the Company, Andrianto Oetomo, delivered the Company’s operational and financial performance as of the first quarter of 2019 and the Company’s plans for 2019.
In 2019, the Company will increase the capacity of its Palm Oil Mill (POM) to 570 tons per hour from its previous capacity of 510 tons per hour, with the completion of a new POM with a capacity of 30 tons per hour and capacity expansion of other POM of 30 tons per hour hour.
The Company also has been developing a Bio CNG-Plant which processes palm oil mill effluent (POME) into compressed bio-methane gas with a capacity of 280 m3 per hour and 1.2 megawatts of electricity, with the ground breaking has been conducted at the end of 2018.
“The construction of the Bio-CNG Plant is part of the Company’s sustainability policy, which will be used to replace diesel fuel in our POM and employee housing estates around the plantation,” said Andrianto.
Mr Andrianto explained the FFB production the Company reached 512 thousand tons in the first quarter of 2019, an increase of 73% compared to the first quarter of 2018 of 296 thousand tons. The CPO production also rise to 129 thousand tons in the first quarter of 2019, 61% higher compared to the first quarter of last year, following an improvement in plantation productivity in the past few months and the addition of CPO production from the companies acquired at the end of 2018.
The Company’s CPO sales volumes also doubled to 166 thousand tons against 82 thousand tons in the first quarter last year following additional volumes from remaining inventory last year.
The upside from sales volume however was partly offset with a lower average selling price of 20% from Rp 7.7 million per ton to Rp 6.1 million per ton, resulting the Company’s net revenue in the first quarter of 2019 amounted to Rp 1.37 trillion, 42% higher than the first quarter last year, in which the palm oil business segment contributed 82% or Rp 1.13 trillion, only 52% higher compared to the first quarter of 2018.
Similar higher revenue pattern was also seen in the wood product business, as the sales revenue increased by 9% to Rp 242 billion compared to the first quarter of 2018, mainly driven by an increase in panel product sales volume by 17% combined with higher average price of 8%.
ABOUT PT DHARMA SATYA NUSANTARA Tbk
PT Dharma Satya Nusantara Tbk was established on September 29, 1980 and has engaged in the palm oil and wood products industry since. The Company currently has 108,411 hectares of planted areas of palm oil plantations and 9 palm oil mills with a total capacity of 510 tons per hour, that processes Fresh Fruit Bunches (FFB) into Crude Palm Oil (CPO). As for the wood product business segment, the Company operates a wood processing plant in Central Java, which produces panels and engineered floorings.
FOR MORE INFORMATION
PT Dharma Satya Nusantara Tbk
Jl. Rawa Gelam V Kav. OR/3B
Kawasan Industri Pulogadung
Jakarta 13930, Indonesia
Email: [email protected]