Notes tothe financial statements For the financial year ended 31 December 2023 4. Revenue Revenue represents the value arising from the sales of palm oil, rubber, sugar, edible oils, and other agricultural products. Revenue is recognised in accordance with the accounting policy disclosed in Note 2.25. Revenue is disaggregated to Plantations and Edible Oils and Fats segment. The timing of transfer of goods is determined at a point in time. The Group does not have revenue that is recognised over time. (a) Disaggregation of revenue Plantations Edible Oils and Fats Eliminations Total 2023 2022 2023 2022 2023 2022 2023 2022 Rp million Rp million Rp million Rp million Rp million Rp million Rp million Rp million Sales channel Third party 4,701,701 5,134,636 11,301,116 12,662,429 – – 16,002,817 17,797,065 Inter-segment 6,147,134 6,592,674 13,381 16,771 (6,160,515) (6,609,445) – – 10,848,835 11,727,310 11,314,497 12,679,200 (6,160,515) (6,609,445) 16,002,817 17,797,065 Primary geographical markets Indonesia 10,462,508 10,811,185 9,458,487 10,570,551 (6,160,515) (6,609,445) 13,760,480 14,772,291 Outside Indonesia 386,327 916,125 1,856,010 2,108,649 – – 2,242,337 3,024,774 10,848,835 11,727,310 11,314,497 12,679,200 (6,160,515) (6,609,445) 16,002,817 17,797,065 Major product lines CPO 8,227,764 8,736,116 – – (6,147,120) (6,592,675) 2,080,644 2,143,441 Palm kernel & related products 998,710 1,322,849 – – – – 998,710 1,322,849 Edible Oils and Fats – – 11,298,178 12,679,200 – (16,770) 11,298,178 12,662,430 Others 1,622,361 1,668,345 16,319 – (13,395) – 1,625,285 1,668,345 10,848,835 11,727,310 11,314,497 12,679,200 (6,160,515) (6,609,445) 16,002,817 17,797,065 During the financial years ended 31 December 2023 and 2022, the sales from customers with individual cumulative amount each exceeded 10% of the total consolidated revenue are as follows: 2023 2022 Rp million % of Total Revenue Rp million % of Total Revenue PT Indofood CBP Sukses Makmur Tbk (“PT ICBP”) 3,103,485 19.4% 3,440,387 19.3% Performance Obligations The performance obligations of the Group, which cover the products mentioned above, are satisfied upon shipment from the Group’s location or upon delivery of the goods at the customer’s location, as agreed in the contracts. The term of payment is generally due within 1 to 35 days upon fulfilment of the performance obligation. For export sales, the Group requires cash against the presentation of documents of title. 95 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Annual Report 2023
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