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Bumitama Agri Q2 profit down 41.8% to 759.8 billion rupiah
BUMITAMA : P8Z -2.61%Agri : P8Z -2.61% posted a 41.8 per cent drop in net profit to 759.8 billion rupiah (S$67.3 million) for the second quarter, from 1.31 trillion rupiah in the same period the year before.
The group had lower revenue and margins for the three months ended Jun 30, based on financial results released on Friday (Aug 11).
Revenue was down 23 per cent to 3.9 trillion rupiah from 5.07 trillion rupiah, while gross margin was down 10.4 percentage points on the year to 34.4 per cent from 44.8 per cent.
The latest results bring the group&rsquo s earnings for the first half of the fiscal year to 1.19 trillion rupiah, 45.4 per cent lower than the 2.18 trillion rupiah recorded in the same period the previous year.
This translated to earnings per share of 686 rupiah, down from 1,247 rupiah in the previous corresponding period.
Weakening palm product prices, together with increases in fertiliser and fuel prices, &ldquo significantly impacted&rdquo net profit for the period, the group said.
Revenue for the half-year period fell 16.4 per cent on the year to 7.5 trillion rupiah from 8.97 trillion rupiah, with declines from both crude palm oil (CPO) and palm kernel (PK) products.
The average selling price of PK fell 50.5 per cent to 5,607 rupiah per kg CPO average selling prices dropped 18.2 per cent to 11,720 rupiah per kg.
PK sales volume was down 8.6 per cent to 109,382 tonnes, while CPO sales volumes rose 10.5 per cent to 587,251 tonnes.
The rise in CPO sales led to an increase in selling expenses by 26.4 per cent to 176.3 billion rupiah, comprising freight and loading expenses.
General and administrative expenses were up 37.3 per cent to 343.4 billion rupiah on higher performance bonuses.
The group recorded a foreign exchange gain of 174.3 billion rupiah, against a loss of 125.1 billion rupiah the same period the year before. This was mainly due to translation gains from US dollar-denominated borrowings after the rupiah appreciated against the US dollar during the period.
The group&rsquo s board declared an interim dividend of S$0.0125 per share for the period, unchanged from the same period the prior year. The dividend will be paid on Sep 14, after books closure on Sep 5.
End of Ukraine/Russia agriculture agreement means by far the largest sunflower oil producer is out of action for the forseeable future. Good for palm oil producers.
less rain fall, or draughts coming soon.... in months time.... El Nino is developing...
either the food shortage will ramp up the price of stuffs....
or...
the production crops will be impacted badly...
not a rosy year of 2023 and 2024....
I may also need to sail thru to 2025.... piang... ha
either the food shortage will ramp up the price of stuffs....
or...
the production crops will be impacted badly...
not a rosy year of 2023 and 2024....
I may also need to sail thru to 2025.... piang... ha
Joelton ( Date: 14-May-2023 01:40) Posted:
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Bumitama Agri Q1 profit falls 51% to 429.1 billion rupiah
BUMITAMA : P8Z +2.59% Agri : P8Z +2.59%posted a 51 per cent drop in net profit to 429.1 billion rupiah (S$40 million) for its first quarter ended Mar 31, from 873 billion rupiah for the previous corresponding period.
The fall in net profit was mainly due to a lower average selling price as commodity prices normalise, coupled with higher fertiliser prices, the Indonesian palm oil producer said in its financial results released on Friday (May 12).
Revenue for the quarter slid 8 per cent on the year to 3.6 trillion rupiah, from 3.9 trillion rupiah a year earlier, as contributions from the group&rsquo s palm kernel business fell 58 per cent to 279 billion rupiah.
Revenue contributions from the crude palm oil (CPO) business, however, were up 3 per cent to 3.3 trillion rupiah due to a 19 per cent rise in sales volume after an inventory drawdown. This helped offset a 14 per cent decline in selling price during the period.
The average selling prices for both CPO and palm kernel slipped 14 per cent and 53 per cent year on year, respectively. Meanwhile, production in the first quarter was lower as oil palms entered a normalised low-cycle season, compared with a high base effect last year.
Bumitama Agri
On Apr 21, Bumitama Agri : P8Z +1.77% lead independent director Lim Hung Siang increased his total interest by 100,000 shares at S$0.645 per share. The 100,000 shares, held by Lim&rsquo s spouse, take his total interest in the leading producer of crude palm oil (CPO) and palm kernel (PK) in Indonesia to 150,000 shares.
Lim&rsquo s professional career encompasses extensive experience running several companies in the transport and engineering sectors, including Singapore Automotive Engineering Group and ComfortDelGro Corporation.
He has also overseen business development initiatives and mergers/acquisitions in Europe, Australia, and China, as well as the setting up and operating of new business units.
The rally of CPO prices on top of a robust production recovery in the first half of 2022 boosted Bumitama Agri&rsquo s FY22 (ended Dec 31) financial results, allowing the group to post all-time high revenue and profit figures for two consecutive years.
Revenue climbed 29.2 per cent year on year (yoy) to 15.83 trillion rupiah (S$1.4 billion) in FY22, propped by the sale of 1.10 million MT of CPO at 12,519 rupiah per kg and 245,898 MT of PK at 8,285 rupiah per kg. Both the CPO and PK selling prices on average were higher than those in FY21, by 27.1 per cent and 17.3 per cent, respectively.
In a business outlook report on Mar 24, Bumitama Agri executive chairman and chief executive officer (CEO) Gunawan Hariyanto Lim maintained that demand composition in Indonesia is expected to shift towards more domestic consumption, consistent with the government&rsquo s announcement of the B35 biodiesel mandate. He noted that production, however, will face the challenging effects from the likelihood of El Nino&rsquo s return, and ageing plantation profiles in both Indonesia and Malaysia.
Lim added that the lack of industry new plantings, starting from 2015 onwards, will be aggravated further by years of under-manuring mainly in smallholdings due to rising fertiliser prices and scarcity during 2022.
Accumulate Bumitama 0.645, will be moving soon
Bumitama Agri pays record dividend expects higher palm oil prices in 2023
SHAREHOLDERS of Bumitama Agri were recently rewarded with a record-high double dividend payout &ndash a final dividend of S$0.0442 and a special dividend of S$0.0213 &ndash for the company&rsquo s financial year ended December.
This came despite a fall in the oil palm planter&rsquo s earnings for the second half of last year, as crude palm oil (CPO) prices weakened.
In an interview with The Business Times, Bumitama Agri&rsquo s executive director Christina Lim said that 2022 was a &ldquo year of two halves&rdquo for palm oil companies.
The first half was marked by a price rally and production recovery, while the second half was one of normalising CPO prices, as well as extreme weather conditions that hampered production.
Bumitama had in 2022 booked a record-high average selling price, but also faced &ldquo rising costs of production&rdquo .
The company&rsquo s H2 net profit fell 47.7 per cent to 647.4 billion rupiah (S$57 million). Revenue, meanwhile, inched up 0.7 per cent to 6.9 trillion rupiah on the back of higher selling prices for its palm products.
The challenges of higher costs and hurdles to production are unlikely to abate this year. But that could mean better pricing, which Bumitama will hope to use to its advantage as it improves its production efficiency.
A tough year
CPO prices were supported last year by the war between Russia and Ukraine. Both countries are key exporters of sunflower oil, and palm oil is typically seen as an alternative.
But the higher selling prices also came at a time of rising input costs.
Russia is the world&rsquo s largest exporter of fertiliser, which meant that fertiliser prices rose too. Lim said that the group had guided for a 60 per cent to 80 per cent rise in fertiliser prices last year, but ended up spending &ldquo on the higher range&rdquo .
Fertiliser made up about 40 per cent of Bumitama&rsquo s cash costs in 2022. Labour costs were another major expenditure for the group.
Adverse weather conditions, rising logistics costs and higher funding costs were also factors that the company had to grapple with.
To protect its margins, Bumitama focused on mechanisation and digitalisation of its processes.
For instance, the group invested in research and development (R& D) to study different areas in its plantations and adjust the fertiliser types accordingly.
&ldquo By making this selective recommendation on a per-block basis instead of regional, we can expect two things: productivity will be higher, and we are also saving on the cost,&rdquo said Lim.
The company also adopted a system that would allow it to measure the tissue culture of crops, and used drones to reduce manual labour and access remote areas.
Declining palm oil yields
Such improvements will become more important as Indonesia&rsquo s palm oil industry battles declining yields, a lack of new plantings, crop diseases, and a shortage of workers leading to losses of harvests.
Lim noted that Indonesia has reported three successive declines in its annual CPO output since its peak in 2019.
&ldquo Combined with limited sources of arable land, considerable pressure for more environmentally friendly practices and rising input costs, the future growth of palm oil is looking unlikely to accelerate to levels seen in the past decade,&rdquo said Lim.
The company is among the largest palm oil planters and producers in the country. As at end-2022, it had a total planted area of 188,000 ha across Riau, as well as West Kalimantan and Central Kalimantan. The executive director said about 132,000 ha are nucleus estates, and the remaining 56,000 hectares are plasma estates.
Nucleus estates are parts of a plantation that is under concession and management of the company, while plasma estates are owned by the people under a government scheme for wealth distribution to surrounding communities, she explained.
Bumitama&rsquo s processing capacity stands at about 6.4 million tonnes per annum, which Lim said is above the average for Indonesian palm oil players.
The company also claims to have an above-average CPO yield: 4.8 tonnes per ha in 2022, as indicated by its latest annual report.
A year of normalisation
As Indonesia&rsquo s supply is disrupted, Lim said Bumitama should be compensated by higher palm oil prices.
The year 2023 will likely be a &ldquo year of normalisation&rdquo for the palm oil sector, she said.
She expects Bumitama&rsquo s strong fundamentals &ndash namely the &ldquo favourable&rdquo age profile of its plantations and its precision agronomy practices &ndash to keep the company in good stead. Bumitama will also keep &ldquo tight control&rdquo over costs.
Potential downsides to her outlook include negative weather conditions and an increase in supply.
Lim said that the La Nina weather phenomenon could surface in H2, and this could coincide with the summer monsoon period that typically takes place from June to September.
La Nina tends to bring higher rainfall, which can harm oil palm production.
&ldquo The management of Bumitama Agri&hellip will be monitoring (La Nina&rsquo s) development closely to mitigate its negative effects,&rdquo she said.
Any growth in supply from either Malaysia or Indonesia will also put pressure on palm prices, although Indonesia&rsquo s B35 policy and China&rsquo s relaxation on Covid-19 lockdowns could provide some support.
Indonesia now requires palm oil to make up at least 35 per cent of biodiesel fuel, up from 30 per cent.
Shares of Bumitama are down about 20.1 per cent over the last 12 months &ndash roughly tracking the price of CPO, which is down about 36.6 per cent.
better capture this first... and i think seems like people are flowing to capture some.. before the Ex.
some people in states ... cnbc.. yf... are saying recession coming... if so... this V Generous ... may not be happening again soon.... :(
today got beer, today drink :)))
some people in states ... cnbc.. yf... are saying recession coming... if so... this V Generous ... may not be happening again soon.... :(
today got beer, today drink :)))
CheeryVGoh ( Date: 05-Apr-2023 19:04) Posted:
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Correct , 4.42ct is special div.
Total : 6.55ct ($0.0655)
V Generous.
Total : 6.55ct ($0.0655)
V Generous.
rledchg11 ( Date: 05-Apr-2023 15:09) Posted:
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maybe I see wrongly?
2.13c+4.42c ? sure or not?
2.13c+4.42c ? sure or not?
CleanNGreen ( Date: 01-Apr-2023 15:51) Posted:
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Global Palm Resources CEO and family launch privatisation offer at 25 cents per share
The offer price of 25 cents per share represents a premium of 93.8 per cent
https://www.straitstimes.com/business/global-palm-resources-ceo-and-family-launch-privatisation-offer-at-25-cents-per-share
Bumitama Agri H2 profit falls 47.7% to 647.4 billion rupiah
BUMITAMA Agri on Wednesday (Mar 1) posted a 47.7 per cent year-on-year drop in net profit to 647.4 billion rupiah (S$57 million) for the second half year ended Dec 31, 2022.
This was mainly due to weaker crude palm oil (CPO) and palm kernel prices as a result of an export ban by the Indonesian government earlier this year, followed by an effort to flush out overflowing CPO stockpiles. There was also an increase in fertiliser and fuel prices during the period.
The results translate to earnings per share (EPS) of 371 rupiah, against an EPS of 709 rupiah previously.
Revenue, meanwhile, was up 0.7 per cent to 6.86 trillion rupiah, compared with 6.81 trillion rupiah the year before. This was mainly due to higher selling prices of palm products.
CPO revenue rose 3.2 per cent to 6.18 trillion rupiah, while palm kernel revenue fell 17.1 per cent to 681.1 billion rupiah. Sales volume for both palm products increased during the period, with CPO and palm kernel growing 11.3 per cent and 12.8 per cent respectively.
For the full year, net profit rose 64.2 per cent to 2.83 trillion rupiah, translating to an EPS of 1,618 rupiah. Revenue was up 29.2 per cent to 15.83 trillion rupiah, from 12.25 trillion rupiah for FY2021.
&ldquo First half was dominated by palm oil price rally and production recovery, while the second half was a period of normalising prices and low-cycle production anomaly due to intensifying extreme weather conditions,&rdquo the company said.
Its board has recommended a final dividend for the full year, although the amount proposed has not been disclosed. The payment of the dividend will be subject to approval by shareholders at an annual general meeting to be held on Apr 20. Previously, the company paid a final dividend of S$0.033 per share.
BUMITAMA Agri on Wednesday (Mar 1) posted a 47.7 per cent year-on-year drop in net profit to 647.4 billion rupiah (S$57 million) for the second half year ended Dec 31, 2022.
This was mainly due to weaker crude palm oil (CPO) and palm kernel prices as a result of an export ban by the Indonesian government earlier this year, followed by an effort to flush out overflowing CPO stockpiles. There was also an increase in fertiliser and fuel prices during the period.
The results translate to earnings per share (EPS) of 371 rupiah, against an EPS of 709 rupiah previously.
Revenue, meanwhile, was up 0.7 per cent to 6.86 trillion rupiah, compared with 6.81 trillion rupiah the year before. This was mainly due to higher selling prices of palm products.
CPO revenue rose 3.2 per cent to 6.18 trillion rupiah, while palm kernel revenue fell 17.1 per cent to 681.1 billion rupiah. Sales volume for both palm products increased during the period, with CPO and palm kernel growing 11.3 per cent and 12.8 per cent respectively.
For the full year, net profit rose 64.2 per cent to 2.83 trillion rupiah, translating to an EPS of 1,618 rupiah. Revenue was up 29.2 per cent to 15.83 trillion rupiah, from 12.25 trillion rupiah for FY2021.
&ldquo First half was dominated by palm oil price rally and production recovery, while the second half was a period of normalising prices and low-cycle production anomaly due to intensifying extreme weather conditions,&rdquo the company said.
Its board has recommended a final dividend for the full year, although the amount proposed has not been disclosed. The payment of the dividend will be subject to approval by shareholders at an annual general meeting to be held on Apr 20. Previously, the company paid a final dividend of S$0.033 per share.
Shares of mainboard-listed Bumitama Agri closed 4 per cent or S$0.025 higher at S$0.645 on Tuesday.
KGI
Bumitama Agri Ltd. (BAL SP) - Long &ndash Entry 0.640, Target 0.670, Stop 0.625
Shares closed at a high since Nov 22, above the 5dEMA, with a surge in volume.
MACD is positive, RSI is constructive.
Bumitama Agri Ltd. (BAL SP) - Long &ndash Entry 0.640, Target 0.670, Stop 0.625
Shares closed at a high since Nov 22, above the 5dEMA, with a surge in volume.
MACD is positive, RSI is constructive.
Results announcement yesterday. Positive earnings. Dividend S$0.033 per share. ED to announce at a later date.Traded price adjusted today.
Palm oil price again up to MYR 4,131 per ton, companies like Golden Agri, Bumitama Agri, First Resources & Wilmar Intl should benefit handsomely. Looking forwards to a good financial result.
Jokowi, Anwar Ibrahim Ready to Fight Oil Palm Discriminations
TEMPO.CO, Jakarta - Indonesian President Joko " Jokowi" Widodo and Malaysian Prime Minister Anwar Ibrahim agreed to work together to combat discrimination against palm oil. Indonesia and Malaysia are the largest producers of the commodity.
" We also agreed to strengthen cooperation through the Council of Palm Oil Producing Countries (CPOPC) to increase the market for palm oil and fight discrimination against palm oil," Jokowi said in a press statement on Anwar Ibrahim' s visit at the Bogor Palace, Monday, January 9.
PM Anwar Ibrahim met Jokowi Widodo today at the Bogor Presidential Palace. His visit is focused on issues related to borders, trade cooperation between the two countries, migrant workers and palm oil (CPO). This is Anwar' s first official visit to Indonesia.
President Jokowi did not mention the European Union in his statement on discrimination. The EU is planning to phase out palm oil-based fuels by 2030 because, citing CPO' s link to deforestation.
TEMPO.CO, Jakarta - Indonesian President Joko " Jokowi" Widodo and Malaysian Prime Minister Anwar Ibrahim agreed to work together to combat discrimination against palm oil. Indonesia and Malaysia are the largest producers of the commodity.
" We also agreed to strengthen cooperation through the Council of Palm Oil Producing Countries (CPOPC) to increase the market for palm oil and fight discrimination against palm oil," Jokowi said in a press statement on Anwar Ibrahim' s visit at the Bogor Palace, Monday, January 9.
PM Anwar Ibrahim met Jokowi Widodo today at the Bogor Presidential Palace. His visit is focused on issues related to borders, trade cooperation between the two countries, migrant workers and palm oil (CPO). This is Anwar' s first official visit to Indonesia.
President Jokowi did not mention the European Union in his statement on discrimination. The EU is planning to phase out palm oil-based fuels by 2030 because, citing CPO' s link to deforestation.
JAKARTA : Indonesia planned to set its crude palm oil reference price at $920.57 per tonne for Jan. 16-31, up from $858.96 per tonne in Jan. 1-15, deputy coordinating minister of economic affairs Musdhalifah Machmud said on Wednesday.
The pricing would place Indonesia's palm oil export tax at $74 per tonne and levy at $95 per tonne for the period. The decree to set the new reference price is not yet published.
The pricing would place Indonesia's palm oil export tax at $74 per tonne and levy at $95 per tonne for the period. The decree to set the new reference price is not yet published.
Why this one up while other palm stocks are down ?
Any reasons
Any reasons
Go long on bumitama
msksmsks ( Date: 16-Dec-2022 13:10) Posted:
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