SEO Version
REVIEW 2013
CORPORATE PROFILE
IndoAgri is a vertically integrated agribusiness group engaged in
the cultivation of oil palms, sugar cane, rubber and other crops.
Headquartered in Jakarta and listed on the Singapore Exchange
(SGX), the majority of IndoAgri’s plantations are located in
Indonesia, where it has a 72.6% stake in PT SIMP and PT SIMP
has a 59.5% stake in PT Lonsum.
Collectively, as at 31 December 2013, the Group’s oil palm
plantations covered 239,921 hectares in Indonesia, with an
additional 86,215 hectares held by palm oil smallholders under
the plasma scheme. Taking a step towards further diversification,
we expanded outside Indonesia with the acquisition of sugar
plantations in the Philippines and Brazil.
FINANCIAL HIGHLIGHTS
The Group recorded a total consolidated revenue of Rp13.3 trillion
in 2013. This is a 4.1% decrease compared with 2012 due to
lower average prices of key plantation crops. The operating income
decreased 38% to Rp1.7 trillion on lower gross profit and foreign
exchange losses, partly offset by a maiden profit contribution from
CMAA, the joint venture in Brazil.
Net Profit After Tax (NPAT) and attributable profit for the year
were Rp 0.9 trillion and Rp 0.6 trillion respectively, due to
lower profit and income, higher effective corporate tax arising
from irrecoverable deferred tax losses, and higher non-tax
deductible expenses.
STRATEGIC EXPANSIONS
Through PT SIMP and PT Lonsum, the Group acquired a
79.7% interest in MPM in 2013. The acquisition offers access
to the SAL Group, which holds three industrial forest plantation
concessions totalling 73,330 hectares in Berau and East Kutai,
East Kalimantan. This transaction strengthened our agribusiness
model and diversification strategy into agriculture crops such as
cocoa, corn and cassava, as we increase the food security per
region through intercropping.
Gearing for higher Fresh Fruit Bunches (FFB) harvests in our
maturing estates, a new 80 MT/hour oil palm mill in South
Sumatra was completed in 2013, while a 45 MT/hour mill in East
Kalimantan will be delivered in 2014. Also in the pipeline are two new
45MT/hour mills in Kalimantan scheduled for completion in 2015.
49% Plantations
51% Edible Oils and Fats
3&7&/6& $0/53*#65*0/
#: %*7*4*0/
Note: Comprises of both internal & external sales
41% CPO External parties
59% CPO Internal parties
$10 4"-&4 70-6.&
1-"/5&% "3&"
Plasma Rubber
Plasma Palm Oil
Nucleus Other Crops
Nucleus Sugar
Nucleus Rubber
Nucleus Palm Oil
2008 2009 2010 2011 2012 2013
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
2012
2013
"553*#65"#-& 130'*5
*/ 31 53*--*0/
1.06
0.52
/&5 4"-&4
*/ 31 53*--*0/
2012
2013
13.8
13.3
Hectares
14
*/%0'00% "(3* 3&4063$&4 -5% t 4645"*/"#*-*5: 3&1035
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