CPO Price Soars, Teladan Prima Agro Earns IDR 573.98 Billion Net Profit In 2022

Rupiah (Photo: Doc. Antara)

JAKARTA - PT Teladan Prima Agro Tbk (TLDN) recorded revenue of IDR 3.61 trillion in 2022. This achievement grew 23 percent compared to the previous year.

Last year's TLDN revenue realization came from two main sources, namely revenue from sales of crude palm oil (CPO) of IDR 3.29 trillion, up 22.6 percent year on year (yoy), due to an increase in sales volume of 29,417 tons and an increase in prices. selling by 10.3 percent on an annual basis.

In addition, the revenue of IDR 319.37 billion from sales of palm kernel (PK), in line with PK sales volume which increased by 8,574 tons followed by an increase in selling price of 4 percent yoy.

"This was due to the increase in sales volume of CPO and PK as well as the higher average selling price of CPO at IDR 11,265 per kg and the selling price of PK at IDR 6,648 per kg," said TLDN Main Director Wishnu Wardhana, as reported by Antara.

Meanwhile, TLDN also recorded the realization of earnings before interest, taxes, depreciation, and amortization (EBITDA) until the end of December 2022 of IDR 1.15 trillion with an EBITDA margin of 31.7 percent.

Then, in the same period, TLDN recorded a realized net profit of IDR 573.98 billion, growing 9.5 percent compared to the previous year.

"Our positive financial performance has made the Company's total assets continue to increase. As of December 31, 2022, TLDN's total assets reached IDR 5.2 trillion, growing 14.3 percent, and the company's total liabilities as of December 31, 2022, were IDR 3.03 trillion, or 4.4 percent lower compared to December 31, 2021," said Wishnu.

On the other hand, TLDN also reported operational realization from the plantation production side, namely core fresh fruit bunches (FFB) production in 2022 of 1,059,207 tons, an increase of 11.1 percent compared to 2021 of 953,030 tons.

Wishnu said the increase in production was inseparable from the improvement efforts being made, such as accelerating infrastructure improvements and optimizing harvesting activities.

Then, in terms of factory production, a total of 1,343,526 tons of FFB will have been processed in 2022, 11.5 percent higher than the achievement in the previous year of 1,204,998 tons. This increase was mainly contributed by the 11.1 percent increase in the production of Nucleus plantations and the purchase of external FFB.

"As for TLDN's CPO production throughout 2022, it will reach 300,504 tons, 8.2 percent higher compared to 277,741 tons of CPO production in the previous year," said Wishnu.