Pt Nusantara Sawit Sejahtera Tbk · IDX:NSSS
Pt Nusantara Sawit Sejahtera Tbk — Q1 2025 Earnings Presentation
37 slides from Pt Nusantara Sawit Sejahtera Tbk's earnings presentation, May 5, 2025
Slide 1: Company Presentation 1Q25
5 May 2025 PT Nusantara Sawit Sejahtera Tbk Company Presentation 1Q25 nssgroup.id 1
Slide 2: Table of Contents
Table of Contents I. Key Investment Highlights 3 II. Industry Outlook 4 III. About NSSS and Peer Comparables 8 IV. Shareholders Structure and Stock Performance 18 V. Management 20 VI. Operational and Financial Review 22 VII. Future Developments 27 Appendix 29 nssgroup.id 2
Slide 3: Key Investment Highlights
Key Investment Highlights As the world’s largest producer of CPO accounting for 59% of global production, Indonesia plays a pivotal role in the global palm oil market Favorable CPO Industry outlook backed by well supported prices due to resilient demand Global soybean shortage should provide further
Slide 4: II. Industry Outlook
II. Industry Outlook 4 nssgroup.id 4 4
Slide 5: Trade War Effect on Indonesia's CPO Industry
Trade War Effect on Indonesia’s CPO Industry Indonesia CPO Export China Soybean Import q Trade Pattern Shifts Potential slowdown from USA and China on 2024 2024 Indonesia’s CPO export; however, we expect Others minimal impact due to CPO’s defensive nature Others 8% 15% India q China Imports & Soybea
Slide 6: Global CPO Market Trend: On an Uptrend
Global CPO Market Trend: On an Uptrend Average Yearly CPO Price, 2005-2028F (In MYR) 6,000 5,115 5,000 4,363 4,263 4,000 3,000 2,191 2,000 1,406 1,000 - F F F F 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 2
Slide 7: Indonesia's CPO Outlook: Potential Decline in CPO Volumes
Indonesia’s CPO Outlook: Potential Decline in CPO Volumes Indonesia CPO plantation area, 2014 - 2023 (mn ha) Indonesia CPO Production, 2019 - 2025F (‘000 tons) 55,000 53,600 15.3 15.9 50,000 48,614 14.3 14.5 14.6 14.6 47,120 45,742 46,820 47,084 45,121 12.4 45,000 10.8 11.3 11.2 40,000 35,000 35,000
Slide 8: III. About NSSS and Peer Comparables
III. About NSSS and Peer Comparables 8 nssgroup.id 8 8
Slide 9: Executive Summary
Executive Summary q Nusantara Sawit Sejahtera Tbk (NSSS) was established in 2009 q An integrated upstream palm oil plantation company comprised of 5 palm oil estates located in Central Kalimantan with 1Q25 total planted area of 29,408 including plasma q PKS and Plantation is near the river translati
Slide 10: Company Milestones
Company Milestones 2009-2014 2015 2016-2017 2020 2021-2022 2023 2024 NSS was established and Secured long-term NSS completed its 1st Secured loan facility from NSP and BSP obtained NSSS became a Publicly NSS completed its 2nd obtained HGU 29,616 Ha financing project from CPO mill and special BRI for
Slide 11: Positioned in Central Kalimantan with Sizeable Landbank
Positioned in Central Kalimantan with Sizeable Landbank 99.9% 99.9% 99.9% 99.9% 99.9% PT Nusantara Sawit PT Borneo Sawit PT Prasetya Mitra PT Bina Sarana Sawit PT Hamparan Mitra Persada Perdana Muda Utama Abadi (NSP) (BSP) (PMM) (BSSU) (HMA) Planted Planted Planted Planted Unplanted ~12,450 ha ~8,25
Slide 12: NSSS plantations: Strategically Located
NSSS plantations: Strategically Located Map of NSSS plantations Landbank breakdown – as of Mar 2025 Nucleus planted area: Landbank: 17,098 ha 27,607 ha 45,037 ha In Central Kalimantan near the Tualan and Mentaya rivers 35% NSSS plantation age profile – as of Mar 2025 Impact of new planting on weight
Slide 13: Mill Production Capacity: Doubled
Mill Production Capacity: Doubled CPO mill production capacity CPO mill utilization rate : FFB produced (kt) : FFB processed (kt) : Maximum capacity FFB processed (kt) Utilization rate 111.7% 105.7% 117.0% 92.0% 540 485 497 464 Nusantara Sawit Persada Borneo Sawit Perdana 421 390 402 400 380 (NSP) (
Slide 14: Direct Piping & Special Terminals
Direct Piping & Special Terminals NSSS direct piping system at NSP BSP equipped with direct piping A 1.6 km pipeline directly connects the NSP mill to a specialized terminal in Kotawaringin Timur, facilitating the transportation of CPO via pressured air to reach the barge NSSS special terminal at NS
Slide 15: Cost Efficiency on Direct Piping System
Cost Efficiency on Direct Piping System Benefits of the direct piping system Positive impact on financials Identified cost Low distribution cost saving Does not require land vehicles to transport palm oil to the port located ~100km away from mills Faster delivery Direct piping relies on natural forc
Slide 16: NSSS is the Most Leveraged to CPO Price vs its Peers
NSSS is the Most Leveraged to CPO Price vs its Peers Target market Product to Customers Companies Local Exports PO Seeds FFB CPO PK PKO Oleochemicals Biodiesel Others NSSS Yes Yes Yes FAPA Yes Yes Yes Yes TAPG Yes Yes Yes SSMS Yes Yes Yes STAA Yes Yes Yes Yes TLDN Yes Yes Yes DSNG Yes Yes Yes Yes AN
Slide 17: Financials and Ratios FY24: Most attractive on PEG
Financials and Ratios FY24: Most attractive on PEG Financial data UoM NSSS TAPG DSNG AALI LSIP Revenue IDRbn 1,490 9,671 10,119 21,815 4,563 Revenue CAGR (2021-2026) % 12.8 10.3 8.5 -0.6 3.3 EBITDA IDRbn 705.9 3,747 3,096 3,095 2,099 EBITDA margin % 47.4 38.7 30.6 14.2 46.0 Net profit IDRbn 305 3,24
Slide 18: IV. Shareholder Structure and Stock Performance
IV. Shareholder Structure and Stock Performance 18 nssgroup.id 18 18
Slide 19: Shareholders Structure and Stock Performance
Shareholders Structure and Stock Performance Current shareholders structure (as of 28/04/25) Stock price (up to 28/04/25) 340 5.0 YTD 4.5 290 4.0 3.5 In million shares IDR/share Free Float 240 3.0 (36.15%) 2.5 190 2.0 PT Samuel 1.5 23.8 billion Tumbuh Bersama 140 1.0 shares (43.58%) 0.5 90 0.0 Mar-2
Slide 20: V. Management
V. Management 20 nssgroup.id 20 20
Slide 21: Seasoned Management with proven track record
Seasoned Management with proven track record Teguh Patriawan | President Director Ester Hartati S | President Commissioner o President Director of NSS since 2008 o President Commissioner of NSS since 2022. o Over four decades of experience in the industry o Over three decades of experience in the ag
Slide 22: VI. Operational and Financial Overview
VI. Operational and Financial Overview 22 nssgroup.id 22 22
Slide 23: Operational & Financial Summary: Highest Growth
Operational & Financial Summary: Highest Growth Operational data 1Q25 4Q24 1Q24 QoQ (%) YoY (%) 2024 2023 YoY (%) FFB nucleus (ktons) 122 143 101 (14.7) 20.2 477 464 2.9 CPO (ktons) 28 31 22 (10.1) 26.1 106 91 15.6 FFB yield (tons/ha) 4.7 5.5 3.9 - - 18.3 18.1 - OER (%) 22.3 21.0 21.6 - - 21.2 21.7
Slide 24: Operational Performance: Improving Throughout
Operational Performance: Improving Throughout FFB Nucleus Production (ktons) FFB Processed (ktons) 18.1% 16.1% 2.9% 600 600 10.6% 2.4% -5.3% 497 464 477 500 500 400 402 421 390 381 400 400 300 20.2% 300 22.1% 200 200 101 122 103 126 100 100 0 0 2021 2022 2023 2024 1Q24 1Q25 2021 2022 2023 2024 1Q24
Slide 25: Financial Performance: Fast Growth Across the Board
Financial Performance: Fast Growth Across the Board Revenue (IDR bn) Gross profit (IDR bn) 25.8% -28.9% 93.1% -1.1% 4.5% 1,490 1,600 700 571 585 1,400 600 -25.4% 1,147 1,134 1,185 1,200 500 1,000 406 280.0% 71.2% 400 800 303 300 247 600 476 400 278 200 200 100 65 0 0 2021 2022 2023 2024 1Q24 1Q25 20
Slide 26: Balance sheet: Solid Improvements
Balance sheet: Solid Improvements Balance sheet (IDR bn) Mar 25 Dec 24 Dec 23 Dec 22 Assets Cash and cash equivalents 337 386 243 40 Receivables 71 142 37 33 Biological assets 126 129 79 73 Other assets 3,253 3,071 3,313 2,889 Total assets 3,787 3,728 3,672 3,035 Liabilities Payables 172 176 385 185
Slide 27: VII. Future Developments
VII. Future Developments 27 nssgroup.id 27 27
Slide 28: Future Developments
Future Developments Plantation Prioritizing new planting to boost fresh fruit bunch (FFB) output Expansion and strengthen long-term production performance in BSSU & HMA New Production With operations targeted to commence in 2028F, development Facility of 3rd palm oil mill will significantly expand p
Slide 29: Appendix
APPENDIX 29 nssgroup.id 29 29
Slide 30: Upstream CPO
Upstream CPO Crude q Sustainable palm oil Plantation No-burning policy with natural decomposition q Zero-waste process Palm all products from start kernels to end gets utilized Fresh fruit Harvest goes to bunches CPO mill for q Producing high harvested from further processing End products quality CP
Slide 31: CSR Commitments
CSR Commitments EDUCATION ECONOMIC SOCIAL & HEALTH ❖ Start integrated service posts for the ❖ Provide basic nursery & toddler ❖ Construct and provide employee toddlers’ public health program care for employee’s children housing ❖ Construct clinics for public health ❖ Fund teachers' salaries ❖ Road m
Slide 32: ESG Commitments
ESG Commitments ISPO Implementation Proper Waste Management PMM 9,829 ha BSP 8,259 ha Qualified and secure waste management provide HMA environmental benefits. 7,918 ha Owls for natural pest control: a sustainable solution NSP 12,390 ha BSSU Starting in 2024, NSSS has 6,603 ha begun building owl she
Slide 33: Revenue Breakdown
Revenue Breakdown Details 1Q25 4Q24 1Q24 QoQ (%) YoY (%) 2024 2023 YoY (%) Sales volume (tons) CPO 29,007 29,505 22,005 (1.7) 31.8 103,729 92,255 12.4 PK 5,719 5,454 4,630 4.9 23.5 20,613 18,760 9.9 Price (IDR/kg) CPO 14,123 13,049 11,444 8.2 23.4 12,802 10,796 18.6 PK 10,744 8,969 5,647 19.8 90.3 7
Slide 34: New Mill Impact on CPO & PK Output
New Mill Impact on CPO & PK Output CPO production outlook (ktons) 1 Mill 2 Mills 3 Mills 159 166 178 106 124 139 88 83 91 2021A 2022A 2023A 2024A 2025F 2026F 2027F 2028F 2029F OER (%) 21.9 21.8 21.7 21.2 21.5 22.0 22.0 22.0 22.0 PK production outlook (ktons) 1 Mill 2 Mills 3 Mills 27 31 32 34 18 16
Slide 35: Plantations & Operations FY24: Relatively In-line with Sector
Plantations & Operations FY24: Relatively In-line with Sector Plantation data UoM NSSS TAPG DSNG AALI *LSIP Net profit IDR bn 305 3,241 1,141 1,187 1,476 Net profit/ha IDR mn/ha 11.4 21.6 11.0 4.5 - Average age Years 9.8 13.2 14.3 16.5 - Total planted area Ha 29,125 160,800 110,700 284,831 111,367 N
Slide 36: Valuation Peer Comparables 2025F
Valuation Peer Comparables 2025F EPS Gwt Company Mkt. Cap Last Price Target Price Upside PEG P/E 25 EV/ha ROE DY 25F Ticker (IDR tn) (IDR) (IDR) (%) (%) (x) (x) (USD) (%) (%) NSSS IJ 6.9 288 420 45.8 45.3 0.3 15.5 19,475 24.5 N.A TAPG IJ 19.5 980 1,300 32.7 10.3 0.5 5.7 8,826 28.2 10.6 SSMS IJ 15.0
Slide 37: Thank You
THANK YOU Contact person: Evelyn Satyono, Head of Investor Relations Frederick Wiratama, Analyst Email: investor.relations@nssgroup.id Website: nssgroup.id DISCLAIMER: The information contained in this presentation is provided by PT Nusantara Sawit Sejahtera Tbk ("the Company") and is intended for i
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