Operations, FFB up 12%
- 1H17 was 623,047 tons of FFB, up 12% from 1H16.
- More to come as harvesting slowed down in the second half of June due to the fasting month and Idul Fitri holiday.
- As average age enters prime (more than 8 years old) this year, we expect much higher in the 2H17.
- CPO and PK volumes increased by 7% and 2%, in line with FFB production growth.
Financials, EBITDA up 86%
- 1H17 revenue IDR 1.5 tn, up 36% compared to 1H16.
- Selling prices up 31% from IDR 6,456/kg in 1H16 to IDR 8,428/ kg in 1H17.
- EBITDA IDR 465 bn up 86% from 2016. EBITDA margin was 31%, higher than last year (23%).
- We booked an operating profit of IDR 138 bn up from a loss in 1H16, showing a return to profit, supported by our young plantations.