SEO Version
IndoAgri is a diversifed and vertically integrated agribusiness group
poised to capture the value and benefts spanning the entire supply
chain. Our robust business model is bolstered by a diversity of
agricultural crops, competent R&D expertise and prudent business
strategies, ensuring the latitude to seize growth opportunities in
emerging markets.
IndoAgri is one of Indonesia’s largest plantation companies. As at
31 December 2012, our planted acreage covers 268,725 hectares,
including 230,919 hectares of oil palm, 21,802 hectares of rubber,
12,333 hectares of sugar cane and 3,671 hectares of other crops.
To meet production capacities, the Group owns and operates twenty
one palm oil mills, four crumb rubber processing facilities, three
sheet rubber processing facilities, two sugar mills/refneries, one
cocoa mill, one tea mill and fve CPO refneries through its Plantation
and Edible Oils & Fats Divisions.
Plantation Division is our dominant business unit, contributing over
85% to the Group’s earnings.
Financial Highlights
Despite a challenging year with softer commodity prices for plantation
crops, the Group posted positive sales growth with strong contribution
from the sugar operation following the commencement of our frst
full season of sugar cane crushing in 2012. The Group reported
consolidated revenue of Rp13.8 trillion, a 10% increase over last
year’s Rp12.6 trillion. The improved sales performance was achieved
on the back of higher CPO sales volume and edible oils products
to external parties as well as positive sales contribution from our
sugar operation.
In line with lower average selling prices for plantation crops and
higher cost of production, 2012 gross proft dipped by 10% from
Rp4.6 trillion in 2011 to Rp4.2 trillion. The decline was partly negated
by higher proft contribution from Edible Oils & Fats Division and
sugar operations.
Proft from operations came in 28% lower at Rp2.7 trillion in 2012
mainly attributable to lower gross proft, higher operating expenses,
lower foreign exchange gains and biological asset gains, as well
as share of losses of an associated company of Rp36 billion. This
gap was partly narrowed by certain one-off expenses incurred in
2011, including a Rp63 billion founder tax relating to the listing
of SIMP, Rp19 billion in share transfer fees relating to a corporate
restructuring and an impairment loss of Rp18 billion relating to a
joint venture investment. Excluding biological asset gains, adjusted
proft from operations would have been Rp2.7 trillion, down 21%
against last year.
2012 net proft after tax (NPAT) of Rp1.8 trillion fell 31% over
2011 mainly attributable to the reasons above, and higher fnance
expenses in 2012 relating to the non-capitalisation of interest
expenses following the commencement of the Komering sugar mill/
refnery operation in September 2011.
The Group’s attributable proft of Rp1.1 trillion for 2012 represented
a 30% decline over 2011, refecting principally the reasons above.
Excluding biological asset gains, adjusted attributable proft would
have declined 22% against last year.
Operational Highlights
Plantation Division: Oil Palm
Oil palm remains our dominant crop, occupying 86% or 230,919
hectares of total planted area. In 2012, the Division achieved around
13,383 hectares of oil palm new planting, compared to 13,884
hectares in 2011.
With higher nucleus production and plasma purchases, we achieved
4,107,000 tonnes of FFB production in 2012, an 8% increase over
last year’s 3,797,000 tonnes. In line with this, CPO production grew
by 5% from 838,000 tonnes to 880,000 tonnes in 2012.
Revenue
(Rp trillion)
Profit from Operations
(Rp trillion)
Business Overview
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