CPO sales promoted AALI’s profit by 136.3%
JAKARTA. Crude palm oil (CPO) products sales drove the revenue of PT Astra Agro Lestari Tbk (AALI) upwards by 29.32%, which resulted in a 136.63% net profit growth.
Based on the financial report as of December 31, 2021, AALI reported to gain a net profit of IDR 24.32 trillion compared to IDR 18.80 trillion recorded in 2020. The majority of the revenue came from CPO products and their derivatives, bringing in IDR 22.02 trillion or increasing 26.77% year-on-year (yoy). Then, the palm kernel products and their derivatives, as well as other products, followed with IDR 2.20 trillion and IDR 96.49 billion, respectively.
The increased revenue triggered higher expenses. The cost of revenue shifted from IDR 15.48 trillion in 2020 to IDR 19.49 trillion in 2021. Then, the selling expenses also slightly climbed by 1.12% to IDR 421.39 billion, while general and administrative expenses rose 39.05% to IDR 978.95 billion.
In the end, AALI reported its profit attributable to the parent company to skyrocket 136.63%, shifting from IDR 833.0 billion in 2020 to IDR 1.97 trillion in 2021. As a result, its profit per share went higher, from IDR 432.84 per share in 2020 to IDR 1,024.25 per share in 2021. (AM/ZH)