JAKARTA. PT Astra Agro Lestari Tbk (AALI) has recently realised IDR 141 billion out of IDR 1 to 1.5 trillion of its budgeted capital expenditure (CapEx) for this year.
Fenny Sofyan, Communication and Investor Relations Manager of AALI, specifies that the CapEx had been spent on replanting programme on 1,301 Ha of land throughout January-March 2021. It shrinks from the number reported in the same period in 2020 of 1,717 Ha.
“The decline in replanting, specifically, is related to the COVID-19 pandemic,” Sofyan claims, as quoted by Kontan.co.id last week. She claims that the strict heatlh protocols enacted in plantations cause the replanting process to slow down.
On the other hand, the increased crude palm oil (CPO) price has shifted AALI’s net revenue positively by 5% year-on-year (yoy). It grows from IDR 4.79 trillion in Q1 2020 to IDR 5.03 trillion in Q1 2021. However, its net profit takes a sharp downturn by 56.22% yoy, plummeting from IDR 371.06 billion to IDR 162.43 billion in Q1 2021. (AM/ZH)