Jakarta: As per September 2023, PT Teladan Prima Agro Tbk (TLDN) has maintained its revenue growth. The company reported revenue of Rp 2.89 trillion for the January-September 2023 period, a 16.9% increase from the previous period, which was Rp 2.47 trillion. This growth is attributed to increased sales volumes of crude palm oil (CPO) and palm kernel (PK).
The revenue realization for TLDN in January-September 2023 comes from the sale of CPO, amounting to Rp 2.71 trillion, with a sales volume of 245,746 tons, growing by 28.4% year on year (yoy). Additionally, revenue from PK amounted to Rp 178.14 billion, with an increased sales volume of 20% yoy, equivalent to 40,757 tons.
“The increase in CPO sales volume, reaching 54,383 tons, and the increase in PK sales volume by 6,773 tons, can compensate for the decrease in their respective selling prices, which decreased by 4.8% yoy and 41.5% yoy,” said TLDN’s President Director, Wishnu Wardhana.
This positive revenue performance for TLDN has also impacted other financial aspects. The company recorded an earning before interest, taxes, depreciation, and amortization (EBITDA) of Rp 593.39 billion, a gross profit of Rp 644.11 billion, and a net profit of Rp 234.19 billion.
In the meantime, TLDN’s total assets as of the end of September 2023 amounted to Rp 5.44 trillion, growing by 0.18% yoy compared to the same period the previous year, which was Rp 5.43 trillion. Total equity increased by 5.5% yoy, while total liabilities decreased by 3.25% yoy. This indicates that TLDN’s financial balance sheet is in a healthy position.
In line with its financial performance, TLDN also reported positive operational performance. A total of 1.02 million tons of fresh fruit bunches (FFB) were processed by the end of September 2023, a 6.4% increase compared to the end of September 2022, which was 957,891 tons. This total FFB production resulted in 234,988 tons of CPO, a 9.4% increase from last year, which was 214,743 tons. Furthermore, PK production increased by 6.2% yoy to 37,838 tons, and palm oil extraction grew by 2.8% yoy to 23.05%.
“With the positive financial and operational performance achieved in the JanuarySeptember 2023 period, we are optimistic that TLDN can maintain its growth momentum until the end of 2023,” said Wishnu Wardhana.