PT Dharma Satya Nusantara Tbk · IDX:DSNG
PT Dharma Satya Nusantara Tbk — FY2015 Earnings Presentation
16 slides from PT Dharma Satya Nusantara Tbk's earnings presentation, 2016
Slide 1: DSN Group FY 2015 Results Update
DSN Group FY 2015 Results Update DSN Group is a growing, and green, producer of palm oil and wood products sold into global markets. DSN plantation operations are among the most productive in the sector. or. The DSN Group was originally established as a wood products manufacturer. We expanded into t
Slide 2: Our plantations five-year track record highlights strong growth and effective management
Our plantations five-year track record highlights strong growth and consistently effective and efficient management Planted Area: Total, Nucleus & Plasma ('000 ha) Mill Production: CPO, PK & PKO ('000 tons) 90 80 CPO 391 407 71 69 PK 336 61 63 56 58 PKO 49 52 257 Total 189 Nucleus Plasma 17 21 9 13
Slide 3: Our estates are clustered across East, West and Central Kalimantan
Our estates are clustered across East, West and Central Kalimantan, with acquisitions AAN & MNS in the West DSN acquired 2 18,000 ha estates in 2015. AAN is partially planted Nucleus (‘000 ha) while MNS is greenfield. Total 163.6 Planted 69.3 At year end, we had 69,291 ha nucleus and 51,783 ha of ma
Slide 4: Our planted area has grown by acquisition and planting since 2001
Our planted area has grown by acquisition and plantin planting since 2001, resulting in a relatively young age profile Annual Estate Growth History Cum. Area 8.8 8.8 11.9 15.2 19.9 23.5 31.1 35.1 41.2 45.0 49.4 52.1 57.9 62.8 69.3 Plasma % 0% 6% 7% 9% 14% 18% 22% 28% 30% Acquiring AAN in Q2 provided
Slide 5: Average 10% annual growth in FFB production through 2018
Our planting and age profile to date suggests an average 10% annual growth in FFB production through 2018 Based on area planted through 2015 Our planted areas will all Mature areas, with a standard mature by 2019. The yield FFB yield expanding to as high expansion of the sizeable as 26.5 tons/ha (Cl
Slide 6: Younger estates have achieved or exceeded standard yields for Class II soil
Our younger estates have achieved or exceeded the standard yields for Class II soil over a number of years Standard yields for our age profile suggest yields could continue to increase through 2020, barring environmental factors. Our mature area will increase from 51,783 ha in 2015 to 69,291 ha by 2
Slide 7: Nucleus yields remained at 26.2 t/ha despite adverse weather in 2015
Despite the adverse weather in 2015, nucleus yields remained at 26.2 t/ha, while plasma yields expanded In 2015, DSN produced 1.35 million tons FFB from nucleus estates, with an additional 138 thousand tons from plasma. In aggregate, FFB output increased by 8.2% from 2014, with a nucleus yield of 26
Slide 8: Our most developed cluster with 5 estates, 5 CPO mills and 56,000 ha
Our most develo developed elo lopped cluste cluster err - w e with 5 estates, 5 CPO C Mills and 56,000 ha a - is nearly the size of Singapore 71% of our planted area is Each mill’s capacity can located in a contiguous block accommodate peak output in East Kalimantan - an area from a 10,000 ha estate
Slide 9: Stable FFB yields and slightly lower OER generated 6.2 tons of CPO per hectare
Stable FFB yields and a slightly lower OER generated 6.2 tons of CPO per hectare, with an FFA level of just 2.57% CPO production expanded by 4.2% in 2015, with an Oil Extraction Rate (OER) of 23.6% for the year. Palm Kernel production rose by 13.6% to 60,598 tons, with most used by our Palm Kernel O
Slide 10: DSN's productivity is consistently ahead of peers
DSN s productivity, at 6.2 tons of CPO per hectare in 201 DSN’s 2015, is consistently ahead of peers, whatever the age profile Source: Company reporting and analyst research With FFB yields remaining stable in 2015 at 26.2 tons per hectare, CPO yields dropped slightly to 6.2 tons per hectare, largel
Slide 11: Expanding domestic refining capacity ensures robust demand for our CPO
Expan Expanding pannd ding domestic refining capacity, coupled with our high gh- gh h-quality product, ensures robust demand for our CPO Our customers are primarily CPO refineries located in Kalimantan and Java, including Smart, Wilmar, Kuala DSN Estates D Lumpur Kepong, Musim DSN Ports D DSN Custom
Slide 12: Costs were lower during the year, with expanding margins in Q4
Costs were lower during the year, and the seasonality of o fertilizer application led to expanding margins in Q4 C ost of Sales (IDR b n) 2015 2014 2013 2012 2011 Our total cash cost Fertilizer 337.2 324.7 288.7 326.7 193.7 Labor 479.5 401.0 336.0 274.3 166.1 declined by Rp113 Others 267.1 328.6 244
Slide 13: DSN is also a leading wood products manufacturer
DSN is also a leading ng w wood products manufacturer with reputable brand names & long g-standing - client relationships We are the 4th largest wood operations from Surabaya and products manufacturer in Gresik to a new processing Indonesia, producing panels, plant in Lumajang by 2015, engineered fl
Slide 14: Full Year 2015 Financial Summary
Full Year 2015 Financial Summary T ot al C ons olidat ed (I DR bn) Q 4-2015 Q 3-2015 Q oQ Δ% 2 015 2 014* Y oY Δ% 2 013 2 012 Revenue 1,125 1,053 6.8 4,425 4,898 (9.7) 3,842 3,411 Gross Profit 389 168 131.6 1,175 1,709 (31.3) 1,190 961 % margin 34.6 16.0 26.6 34.9 31.0 28.2 Operating Profit 300 51 4
Slide 15: Full Year 2015 Operations Summary
Full Year 2015 Operations Summary Full Year 2015 Operating Results Update 15
Slide 16: For additional information, please refer to our website
DSNG Daily Share Price (rp/share) & Trading Volume (shares) 1,000 750 500 250 0 For additional information, please refer to our website at: 14-Jun-13 14-Dec-13 14-Jun-14 14-Dec-14 14-Jun-15 14-Dec-15 www.dsn.co.id DSNG Share Price vs. IDX & Agri Index If you have additional 3.0 questions or requests
PT Dharma Satya Nusantara — FY2015 Earnings Presentation on 6ix