JAKARTA - PT Citra Borneo Utama Tbk (CBUT) posted a net profit in the first quarter of 2025 of IDR 41.2 billion, an increase of 28.8 percent when compared to the same period in 2024 of IDR 32.0 billion.
Citra Borneo Utama posted revenue in the first quarter of 2025 of IDR 3.4 trillion, an increase of 41.7 percent from the same period last year of IDR 2.4 trillion.
The cost of goods sold this year was IDR 2.85 trillion, up 34.22 percent from IDR 2.12 trillion. So that for gross profit in this period it rose 77.2 percent to IDR 537.2 billion from the previous period of IDR 303.1 billion in the first quarter of 2025.
President Director of CItra Borneo Utama Rorry Christian Tobing stated that the performance in the first quarter of 2025 was a representation of the company's better performance projection with revenue targets rising by 40 percent from the previous or on stakes at IDR 13 trillion by 2025.
In order to achieve a massive growth target, Rorry conveyed that CBUT in terms of business strategies is developing its business by launching commercial cooking oil products to get a larger local market.
He added that one of them was by establishing good cooperation with credible suppliers, local buyers, international buyers.
Selain itu, Rorry menyampaikan perseroan juga tetap menjaga kualitas produk dengan mendapatkan supply produk baik CPO maupun Palm Kernel yang berkualitas dengan harga kompetisi di pasar dengan menjual produk minyak sawit yang telah bertifikasi RSPO.
In terms of operations, he said that his party would optimize the production capacity of the Kernel Crashing Plants (KCP) and increase the gross margin of the main KCP product.
"CBUT is making improvements and innovations in factories to support the effectiveness and efficiency and addition of new production lines for commercial bottling/packaging," Rorry said in a public exposure to SSMS, Thursday, May 8.
On the same occasion, Director of CItra Borneo Utama Ronny Hertantyo Raharjo added, this year the company allocated a capital expenditure (CAPEX) of Rp150 billion or higher than last year which was equivalent to Rp80 billion.
Ronny said that this year's Capex will focus on projects that must be completed, then there will be an additional Project of cooking oil in bottled bottles that will increase significantly, so that the need for capex in 2025 will focus on it, in addition to being there for other operational needs.
The source of funding is still from IPO funds, internal cash and banking.
Ronny also highlighted that market uncertainty caused by the trade war is expected to continue to put pressure on prices.
However, he conveyed that the sustainability of the domestic biodiesel program is expected to provide positive support for price stability.
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"This program plays an important role in absorbing the supply of palm oil in the domestic market," he said.
Furthermore, Ronny conveyed that the Company saw an increase in demand from main destination countries expected to continue to provide support for stability and price strengthening.
"The recent decline in palm oil prices is expected to maintain competitiveness compared to other major vegetable oils," concluded Ronny.
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