JAKARTA. PT Salim Ivomas Pratama Tbk (SIMP), an agribusiness company under Salim Group, recorded a net profit of IDR 1.2 trillion in 2022.

The profit was seen increasing 21% year-on-year (yoy) or compared to the same period last year. Meanwhile, SIMP reported collecting IDR 4.65 trillion of gross profit and IDR 4.68 trillion of EBITDA in 2022.

Mark Wakeford, President Director of SIMP, claimed that the agribusiness sector still faced some challenges in 2022, including the weather and the volatility of the commodity price.

However, Wakeford said that SIMP still managed to record positive financial performance. “It was supported by high average selling price and our efforts in controlling costs and efficiency,” he added in the official statement.

Wakeford further mentioned that SIMP is currently focusing its capital expenditure on palm tree replanting. On top of this, the company will also focus on managing costs and efficiency, as well as enhancing productivity.

For the record, the fresh fruit bunches production of SIMP in 2022 clocked up to 2.81 million tons, climbing 2% yoy. Similarly, crude palm oil (CPO) production also grew 7% yoy in 2022 to 836 thousand tons. Increases in fresh fruit bunches and CPO production in 2022 managed to drive the sales up by 9% yoy to IDR 17.79 trillion. (KR/ZH)