CSRA - PT. Cisadane Sawit Raya Tbk

Rp 650

-5 (-1,00%)

JAKARTA - PT Cisadane Sawit Raya Tbk (CSRA) booked sales revenues of IDR 607.25 billion during FY20, increased 23.4% compared to the same period last year.

This significant increase was mainly derived from the positive trend of rising average selling prices of oil palm commodity prices. This upsurge was also contributed by consistent internal achievement of the volume of production of fresh fruit bunches (FFB). It was also mainly driven by higher average selling price (ASP). In addition, the company has booked higher internal FFB production because of its effective operational strategy.

The positive results were also contributed by CSRA full effort to maintain a solid productivity focus and efficient operations, consistent with its commitment to pursue sustainable development. As a result, the FFB production volume grew by 3.0% YoY and the yield of FFB production was maintained at 19.3 tonnes / ha

The company's FY20 net earnings was also closed positively with more than double fold increase to IDR 62.85 billion or 129.6% increase compared to the same period last year of IDR 27.37 billion. This, in turn, has resulted in an expansion in net margin to 10.4%.

The company believes that in the future the business prospects are still quite good in line with the condition of the oil palm plantation sector which also has a good chance. Vaccine development for the COVID-19 virus has also begun to find a bright spot so we hope that in 2021 the global and national economic conditions will also improve compared to 2020. (LM)