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Bumitama Agri
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Joelton
Supreme |
16-May-2025 12:11
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Bumitama Agri Q1 profit rises 51% to 495.9 billion rupiah
Higher commodity prices and rising production drive revenue up 19% at 4.6 trillion rupiah
[SINGAPORE] Bumitama Agri posted on Thursday (May 15) a 51 per cent rise in net profit to 495.9 billion rupiah (S$38.9 million) for the first quarter of 2025, from 328.4 billion rupiah in the previous corresponding period.
Revenue for the quarter rose 18.6 per cent year on year to reach 4.6 trillion rupiah, from 3.9 trillion rupiah. The palm oil plantation group said in a bourse filing that the rise was due to higher commodity prices and improved palm production during the quarter.
Crude palm oil prices rose 26 per cent on the year to an average of 14,694 rupiah per kilogramme in the quarter. Palm kernel prices surged 94 per cent from the year before, reaching 10,947 rupiah per kg. Bumitama Agri said that the increased prices offset lower sales volume in the quarter as inventories rose.
Meanwhile, the group said that palm oil production had normalised following a pent-up spike in the fourth quarter of 2024. Fresh fruit bunch harvests from both nucleus and plasma estates yielded 783,698 tonnes in a 2.6 per cent rise from the previous corresponding period. This corresponded to 4.3 tonnes per hectare (ha), up from 4.2 a year earlier. It added that the total planted area was 187,000 ha with an average age of 14.8 years, comprising 124,000 ha of nucleus estates and 63,000 ha of plasma estates. Of the total area, 96.5 per cent was mature.
Earnings before interest, taxes, depreciation and amortisation rose 36 per cent on the year to one trillion rupiah from 743.2 billion rupiah.
The group said in its investor presentation that despite extreme weather volatility during the period, its precision agronomic practices had enabled improved operational efficiency to soften the blow. Additionally, better growth prospects in the industry, as observed through robust palm oil prices, had offered the group sufficient cash flow to deleverage substantially.
Bumitama Agri announced a final dividend amounting to S$0.0544 a share for FY2024, following unanimous approval in its annual general meeting in April. Including the interim dividend distributed in September 2024, the group said its total payout ratio would reach 60 per cent of the full year&rsquo s net profit, its highest on record. In FY2023, Bumitama Agri&rsquo s board paid a final dividend of S$0.0363 a share and a special dividend of S$0.0192 a share.
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Cadence88
Veteran |
11-Mar-2025 15:25
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Seems a sell down ytd & today .. wonder why. | ||
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Joelton
Supreme |
28-Feb-2025 11:18
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Bumitama Agri&rsquo s H2 profit climbs 13.5% to 1.43 trillion rupiah
This translates to earnings per share of 825 rupiah for H2 2024, up from 727 rupiah in the year-ago period
INDONESIAN palm oil producer Bumitama Agri posted a 13.5 per cent increase in net profit to 1.43 trillion rupiah (S$116.9 million) for the second half ended December, from 1.26 trillion rupiah in the previous corresponding period.
This translates to earnings per share of 825 rupiah for H2 2024, up from 727 rupiah in the year-ago period.
Revenue was up 14.9 per cent on the year at 9.13 trillion rupiah from 7.95 trillion rupiah.
On Thursday (Feb 27), the group attributed the improvement in its top and bottom lines to higher average selling price of palm products, as well as the appreciation of the Indonesian rupiah against the US dollar.
Revenue from its crude palm oil (CPO) products was up 10.7 per cent at 7.99 trillion rupiah, while palm kernel (PK) product revenue grew 57.2 per cent to 1.14 trillion rupiah.
Sales volume for CPO products was down 9.9 per cent at 597,081 tonnes and down 8 per cent at 130,769 tonnes for PK products.
In terms of average sales prices, CPO prices rose 22.8 per cent to 13,378 rupiah per kg for the half-year period, while PK prices jumped 70.8 per cent to 8,748 rupiah per kg.
In the fourth quarter, production peaked, said the group. Fresh fruit bunches (FFB) from internal sources was up 9 per cent on the year in Q4 2024 at one million tonnes. On the quarter, it was up 27 per cent. FFB yield for Q4 rose 8 per cent from the same quarter the year prior.
&ldquo As a result, production proportion in the second semester accounted for the bigger half, at 54 per cent of the year, similar with the pattern in 2023,&rdquo said Bumitama Agri.
&ldquo But unlike 2023, there was only one quarter in 2024 with FFB yield higher than the 10-year quarterly average of 4.7 tonne per hectare (ha), while there were three quarters in 2023,&rdquo it added, noting that the soft production performance was also seen by industry peers in Indonesia.
The group&rsquo s H2 earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 2.3 per cent on the year to 2.63 trillion rupiah.
For the full year ended December 2024, net profit was down 6.6 per cent to 2.29 trillion rupiah, from 2.45 trillion rupiah in the previous corresponding period. This translates to an earnings per share of 1,319 rupiah for FY2024, versus 1,412 rupiah in FY2023.
Revenue edged up 8.3 per cent to 16.73 trillion rupiah, from 15.44 trillion rupiah in the same period last year. Ebitda was down 4.4 per cent on the year to 4.42 trillion rupiah.
The board has proposed to pay a final dividend for the full year &ndash subject to approval by shareholders at the annual general meeting to be held on Apr 28.
In FY2023, Bumitama Agri&rsquo s board paid a final dividend of S$0.0363 and a special dividend of S$0.0192.
The group expects low seasonal production period, ongoing adverse weather conditions, as well as strong biodiesel demand to affect palm oil prices in H1 2025.
Additionally, the heightened seasonal demand associated with Ramadan is also projected to keep palm oil prices high in Q1 2025, said Bumitama Agri.
&ldquo The long-term fundamentals of the palm oil industry are expected to remain robust. The company will maintain its focus on business continuity, proactive replanting programme, efficiency enhancement by innovation and mechanisation, and effective cost management,&rdquo it added.
As at end-December 2024, the group planted an area of about 187,000 ha, comprising nucleus estates covering 124,000 ha and 63,000 ha of plasma estates. The average age stood at 14 years.
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superstartup
Supreme |
12-Feb-2025 18:16
Yells: "Enjoy doing Fundamental Research" |
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Added Bumi today, since CPO futures had u-turned up for the last 2 - 3 weeks. | ||
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Cadence88
Veteran |
06-Feb-2025 15:22
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Why is this counter dropping so much?
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superstartup
Supreme |
13-Dec-2024 08:56
Yells: "Enjoy doing Fundamental Research" |
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DBS raise TP to $1.30 from $0.90 10 Dec 2024 Latest Report
Rising earnings to support valuation re-rating
BAL offers double-digit earnings growth, supported by a decent palm oil selling price and recovering CPO production volumes. Recovering palm oil output also bodes well for BAL& rsquo s margin since it will result in less reliance on higher cost external fruits purchases. Its earnings are set to recover next year with higher production volumes and better cost savings. We forecast earnings growth of 22% y/y to reach IDR2.3tn in 2025. This year, despite the tumbling output, BAL managed to churn IDR500bn in earnings, which we think demonstrates its prudent profit maximisation strategy. NPAT/kg compressed to IDR1,948/kg in 2Q24 and 3Q24, despite rising CPO prices due to weaker production. Going forward, we forecast NPAT/kg of IDR2,400-2,500/kg with a steady CPO selling price of IDR11,000/kg (net) in 2025F-2026F. While the CPO selling price has been decent this year, BAL suffered from weak output due to torrential rain and the effects of El Niñ o in late 2023. BAL& rsquo s output dropped by 12.3% y/y to 793k MT in 9M24 , despite its young trees age profile. BAL& rsquo s declining output in 2024 is understandable, as the industry experienced a similar trend. Companies with high exposure to Kalimantan estates are impacted the most, even companies with a younger trees age profile. Across the board, Indonesia listed palm oil companies suffered from a 11% y/y drop in output in 9M24. We forecast steady earnings of IDR500bn in 4Q24, as we do not expect any seasonal boost to output toward the end of the year, as BAL will achieve peak crops in November 2024. As such, we cut our earnings forecast by 19% to IDR1.9tn (-20.7% y/y) in 2024F, before expecting earnings to recover in 2025. Maintain BUY with TP of SGD1.3 We raise our TP to SGD1.3 and maintain our BUY rating, as we roll forward our valuation year to FY25F, coupled with higher earnings forecast from 2025 onward. Our TP implies 11x FY25F PE, higher than its five-year historical average PE of 5.0x. Historically, BAL has been trading at a 40%-50% discount to its upstream plantation peers due to its market capitalisation and relatively thin trading volumes, despite its strong fundamentals. The share price re-rated from 5.0x to 8.0x, and we believe this trend should continue, as BAL has consistently proven that it can deliver a strong earnings trend and is building up cash to fuel its inorganic growth or potentially increase its payout ratio. |
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superstartup
Supreme |
12-Dec-2024 09:21
Yells: "Enjoy doing Fundamental Research" |
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Bumitama, New TP $1.30 Usual new outlets yet to report likely they still accumulating shares first Will just focus on Bumi again (for first resources, not sure if the SSH still selling again)
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superstartup
Supreme |
11-Dec-2024 16:04
Yells: "Enjoy doing Fundamental Research" |
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Back to accumulation mode Since Analyst now raises TP to $1.30 (from $0.90) a whopping 44% increase This Analyst maybe know something the market don' t know yet |
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superstartup
Supreme |
04-Dec-2024 11:44
Yells: "Enjoy doing Fundamental Research" |
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x 0 Alert Admin |
Not greedy Am out totally, with nice run from 775 to 900 (and am glad that time made a decision to sell off First Resources and put both portion of funds into Bumi, instead of splitting my fund) Good luck guys
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pcxiao2008
Master |
03-Dec-2024 15:17
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x 0 Alert Admin |
Waiting to break 90 then 92c😃
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ozone2002
Supreme |
20-Nov-2024 10:15
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Bumitama Agri Ltd (BAL SP) - Long &ndash Entry 0.850 Target 0.920, Stop 0.815 Shares closed at a 52-week high with a surge in volume. MACD is positive, RSI is at an overbought level. 
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Joelton
Supreme |
14-Nov-2024 13:08
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Bumitama Agri&rsquo s Q3 net profit falls 31.6% to 597.9 billion rupiah
Revenue is down 7.6 per cent on the year at four trillion rupiah
BUMITAMA Agri reported a net profit of 597.9 billion rupiah (S$51 million) for the third quarter ended Sep 30, down 31.6 per cent the year prior.
Revenue for Q3 FY2024 fell 7.6 per cent to four trillion rupiah from 4.3 trillion rupiah in the same period a year ago.
On Wednesday (Nov 13), Bumitama said its operational output has &ldquo largely gone sideways&rdquo , with low production volumes amid lagged negative effects from the successive weather extreme conditions in the past years.
Its fresh fruit bunches (FFB) production in Q3 remained muted, mainly due to lower bunch count. FFB yield for Q3 fell 25 per cent from the same quarter the year prior, and was 16 per cent lower over the nine-month period compared to the same period a year ago.
The group also recorded a fourth consecutive rise in quarterly average selling price in Q3. Average selling price of crude palm oil reached 12,735 rupiah per kg, up 18 per cent from Q3 2023.
This comes amid a tight global inventory situation, said the group. It added that palm oil inventory is expected to decline due to &ldquo lower-than-expected production persists in the first nine months in Indonesia&rdquo , as well as &ldquo policy changes in the top two producing countries&rdquo .
Within the palm kernel segment, average selling price was up 57 per cent to 7,900 rupiah per kg in Q3 2024, from 5,000 rupiah per kg in the year before.
The group&rsquo s earnings before interest, taxes, depreciation and amortisation (Ebitda) fell 34.5 per cent on the year to 1.1 trillion rupiah from 1.6 trillion rupiah in Q3 FY2023. Ebitda margin for the quarter was down to 26.7 per cent.
For the nine months ended September 2024, the group&rsquo s net profit fell 29.5 per cent on the year to 1.5 trillion rupiah. Revenue inched down 1.9 per cent year on year to 11.6 trillion rupiah.
FFB yield over the nine-month period was down to 13 tonnes per hectare (ha), from 15.4 tonnes per ha.
Ebitda fell 22.4 per cent on the year to 2.9 trillion rupiah from 3.7 trillion rupiah, while Ebitda margin declined to 24.6 per cent from 31.2 per cent the prior year.
As at end-September 2024, the group had a planted area of about 186,000 ha comprising nucleus estates covering 124,000 ha and 62,000 ha of plasma estates. The average age stood at 14 years.
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yamseng
Supreme |
13-Nov-2024 13:53
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with this report, i managed to sell all my bumitana at 835 !! money in my pocket always feel good
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Joelton
Supreme |
13-Nov-2024 10:08
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RHB upgrades Bumitama Agri to &lsquo buy&rsquo on CPO price rally
The new target price is based on a 10 times price-to-earnings multiple based on FY2025 estimates
WITH the continued run-up in crude palm oil (CPO) prices, RHB Research has upgraded its call on palm oil producer Bumitama Agri : P8Z 0% to &ldquo buy&rdquo from &ldquo neutral&rdquo with a higher target price of S$0.95 from S$0.70 previously.
The new target price is based on 10 times price-to-earnings multiple based on FY2025 estimates, which RHB noted to imply an earnings value per hectare of US$10,000 versus its peers&rsquo range of US$8,000 to US$15,000.
It incorporates a 14 to 28 per cent increase in earnings projections for FY2024 to FY2026 on the higher CPO price assumptions.
On Tuesday (Nov 12), RHB&rsquo s research team highlighted the group as a &ldquo pure planter with inexpensive valuations&rdquo .
In the team&rsquo s view, Bumitama&rsquo s valuations remain inexpensive even after its earnings upgrade, as it trades at about 7.8 times FY2025 estimates versus its peers&rsquo range of 7 to 11 times.
The stock call upgrade comes in tandem with RHB&rsquo s rating change for the plantation sector to &ldquo overweight&rdquo from &ldquo neutral&rdquo . It has also added Bumitama to its list of top picks in line with its strategy of focusing on purer planters.
This comes as the research house has raised CPO price assumptions for 2024 to 4,100 ringgit (S$1,239) per tonne, from 3,800 ringgit/tonne previously.
&ldquo We believe prices are unlikely to decline to (less than) 4,000 ringgit per tonne in the near future as geopolitical risks remain very much in play, which would also keep crude oil prices elevated and speculative forces active,&rdquo said analyst Hoe Lee Leng.
Bursa Malaysia-listed crude palm oil futures are up about 20.8 per cent this year as at Mar 4 at RM4,345 per tonne. This is the highest price CPO futures have reached in a one-year period.
Higher CPO prices, low stockpiles only a brief reprieve for regional palm oil stocks
Noting how CPO prices have risen by about 15 per cent in the past month alone, the research house attributes the run-up to the recent spike in crude oil and soybean prices the Thai government&rsquo s ban on palm oil exports till end-2024 affecting sentiment and US president-elect Donald Trump&rsquo s win.
&ldquo In the 2016 election, when Trump won, soybean and palm oil prices rallied 17 per cent and 28 per cent a few months before the election. Post-election, prices rose further, by 10 per cent and 11 per cent to a peak of US$832 per tonne and 3,306 ringgit per tonne from end-2016 to early 2017,&rdquo said Hoe.
&ldquo With CPO prices crossing 5,000 ringgit per tonne amidst a blend of fundamental and speculative factors, we believe share prices have yet to catch up and are due for a rerating,&rdquo she added.
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superstartup
Supreme |
11-Nov-2024 13:02
Yells: "Enjoy doing Fundamental Research" |
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Above MYR 5,100 liao Another multi-years High again, higher and higher Futures u-turn and is now Green Malaysian palm oil futures rose to over MYR 5,100 per tonne, reaching their highest level since mid-June 2022, driven by expectations of tight supply amid persistently low production levels, particularly in Indonesia and Malaysia. Palm oil production has stagnated in recent years, primarily due to aging plantations and a moratorium on clearing new land to address deforestation concerns. In 2023, output declined further as droughts associated with El Niñ o worsened the situation. Additionally, Indonesia plans to increase the palm oil blend in biodiesel to 50% by 2028, up from the current 35%, with an interim target of 40% by 2025, further tightening supply. Compounding these issues, limited fertilizer supplies due to the war in Ukraine have increased costs for the two Southeast Asian nations. Meanwhile, the demand remains strong. In India, the world&rsquo s largest buyer, palm oil imports surged 59% mom in October, a three-month top due to strong festive demand after recent low import levels. |
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superstartup
Supreme |
08-Nov-2024 12:21
Yells: "Enjoy doing Fundamental Research" |
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They updated the update within an hour - - - - - Malaysian palm oil futures hovered near MYR 5,000 per tonne, reaching their highest since mid-June 2022, lifted by strength in rival Dalian markets. Contracts are on track for a third straight weekly gain, up over 2.5% so far, as crude oil prices are set to log their first weekly rise in three, amid bets that a Trump-led US presidency could set stricter sanctions on some oil-producing countries. Meantime, top producer Indonesia plans to raise the palm oil blend in biodiesel to 50% by 2028, up from the current 35%, with a jump to 40% in 2025. In India, the world&rsquo s largest buyer, palm oil imports surged 59% mom in October, notching a three-month top due to strong festive demand after recent low import levels. Meanwhile, Reuters projected a fall in Malaysia&rsquo s palm oil stockpiles in Oct. for the first time in three months, driven by lower output. Near-term production is expected to stay weak due to seasonal rains. Capping the advance was caution ahead of price data from key buyer China. 26 minutes ago
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superstartup
Supreme |
08-Nov-2024 11:32
Yells: "Enjoy doing Fundamental Research" |
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Palm Oil increased to a 28-month high of 5038.00 MYR/T. Over the past 4 weeks, Palm Oil gained 17.57%, and in the last 12 months, it increased 33.53%. 35 minutes ago |
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superstartup
Supreme |
08-Nov-2024 10:59
Yells: "Enjoy doing Fundamental Research" |
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x 0
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Nov contract now no trading volume Looking at Dec, Jan contract. Open Green again. Another multi-years High But please perform your own DD |
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superstartup
Supreme |
07-Nov-2024 16:49
Yells: "Enjoy doing Fundamental Research" |
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x 0
x 0 Alert Admin |
Palm Oil Nov contract up again Now MYR 5,056
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superstartup
Supreme |
07-Nov-2024 11:17
Yells: "Enjoy doing Fundamental Research" |
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x 0
x 0 Alert Admin |
Palm oil not crude oil leh Nov contract now breached MYR 5,000 |
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