Net Profit of TLDN Grows by 34.6% YoY in Q1-2024

JAKARTA, April 30, 2024 – PT Teladan Prima Agro Tbk (TLDN) has achieved a net profit of Rp 70.25 billion, representing a growth of 34.6% compared to the same period last year of Rp 52.18 billion. This positive bottom line performance is attributed to a 13.7% year-on-year (YoY) decrease in production costs, which aligns with the company’s cost-saving efforts while optimizing productivity.

“In the period of January-March 2024, the cost of goods sold decreased from Rp 744.1 billion to Rp 667.91 billion, allowing the company to record a gross profit of Rp 190.73 billion, an increase of 5.1% compared to the same period in the previous year. However, we have also maintained positive operational performance in our palm oil plantations and processing factories,” said TLDN’s President Director, Wishnu Wardhana.

TLDN continuously strives to increase production while maintaining costs. One of TLDN’s efforts in cost management, especially in fertilization costs, is through composting. Last year, the company produced 5,095 tons of compost fertilizer for fertilizing its oil palm plantations, thus reducing the need for fertilizer purchases.

Meanwhile, TLDN has also created a land application system that channels palm oil mill effluent (POME) to every plantation block. This liquid waste has undergone laboratory processes to ensure the quality of the POME being distributed to the soil nutrients and plants in the plantation. This effort substitutes chemical fertilizers and demonstrates the company’s commitment to implementing sustainability values.

On the other hand, TLDN reported that in Q1-2024, the total production of fresh fruit bunches (FFB) reached 303,107 tons, a 16.1% increase from Q1-2023, which was 260,984 tons. This increase in FFB production occurred in both core and plasma plantations, with respective production increases of 16.3% YoY and 15.3% YoY.

In line with the plantation results, TLDN’s factory performance in January-March 2024 successfully processed 342,986 tons of FFB, a 13.2% increase from the previous year, which was 302,889 tons. Furthermore, crude palm oil (CPO) production reached 82,725 tons, up 19.3% YoY, and palm kernel (PK) reached 12,811 tons, up 11.8% YoY.

“This increase in production is inseparable from the application of best plantation practices such as consistent fertilization applications, infrastructure maintenance, optimization of harvesting activities, and the utilization of technology in plantation and factory operations,” said Wishnu Wardhana.

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