ANJT - PT. Austindo Nusantara Jaya Tbk

Rp 875

+20 (+2,00%)

JAKARTA. The average selling price of crude palm oil (CPO) and palm kernels (PK) have boosted the performance of PT Austindo Nusantara Jaya Tbk (ANJT), driving its net profit significantly by 261.9% year-on-year (yoy) to USD 11 million at the end of Q1 2022. This net profit growth subsequently led to EBITDA increase to USD 23.7 million from USD 12.9 million in Q1 2021. EBITDA margin was also widened from 21.9% to 31.4%.

Lucas Kurniawan, President Director of ANJT, mentioned that the fresh fruit bunch production from its North Sumatra II and West Kalimantan plantations is expected to multifold in the next months of 2022. Therefore, it will solidify the performance of the company’s performance this year.

“We will prioritise the balance of the age profile of the palm trees while maintaining the profitability and cash flow by implementing replanting strategy, especially in Belitung Island and North Sumatra I plantations,” Kurniawan stated in the official release yesterday (9/5). This will suffice to drive profit growth several years in the future.

Throughout Q1 2022, ANJT produced 173,339 MT of fresh fruit bunch. West Papua plantation, which just entered the commercial production stage in 2020, already covered 15% of total production. It increased almost 40% compared to the production reported in the same period in 2021. ANJT’s triumph in Q1 2022 was backed by increases in sago flour sales, as well as fresh and frozen edamame sales, which grew 78% and 175%, respectively. (AM/ZH)