TLDN Achieves Revenue of IDR 4.01 Trillion in 2023, Surpassing Target

JAKARTA—PT Teladan Prima Agro Tbk (TLDN) achieves revenue of IDR 4.01 trillion in 2023, growing by 10.9% compared to IDR 3.61 trillion in 2022. The company’s revenue achievement in 2023 exceeded the target set at the beginning of last year by 10% year on year (yoy). This positive financial performance is primarily due to the increased sales volume of crude palm oil (CPO), which aligns with operational production optimization.

TLDN recorded the realization of CPO sales volume in 2023 at 343,748 tons, growing by 17.5% from the previous year’s realization of 292,545 tons. Palm kernel (PK) sales volume also increased by 15.5% yoy from 47,752 tons in 2022 to 55,172 tons in 2023. The increase in sales of both products occurred despite a decrease in average prices.

“The increase in CPO sales volume, reaching 51,203 tons, and the increase in PK sales volume by 7,420 tons compensated for the decrease in their respective selling prices, which decreased by 2.7% yoy and 34.7% yoy,” said TLDN President Director Wishnu Wardhana.

Wishnu Wardhana explained that the increase in CPO and PK sales was partly due to the company’s marketing strategy implemented last year through four methods: first, direct sales to the final buyer without third-party involvement by negotiating delivery terms for each sale; second, diversification of sales to several buyers (non-single buyer) with competitive sales terms and conditions.

Thirdly, it uses national and international commodity price reference standards; fourthly, it collaborates with third-party commodity quality testers certified nationally and internationally to maintain product quality.

Meanwhile, the positive revenue generated by TLDN throughout 2023 has impacted other financial performance indicators. The company recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) of IDR 927.85 billion, gross profit of IDR 1.07 trillion, and net profit of IDR 451.79 billion.

Furthermore, TLDN’s total assets until the end of 2023 amounted to IDR 5.42 trillion, growing by 3.8% year over year compared to the same period the previous year of IDR 5.22 trillion. Total equity increased by 12.8% year over year, while total liabilities decreased by 2.6% year over year. It indicates that TLDN’s financial position is healthy.

On the other hand, TLDN reported positive operational performance throughout 2023. The total fresh fruit bunches (FFB) processed amounted to 1.4 million tons, increasing by 4.9% compared to 1.34 million tons in 2022. This FFB produced 327,688 tons of CPO, growing by 9% from last year’s 300,504 tons. Furthermore, PK production increased by 4.6% from 49,903 tons to 52,207 tons.

(Image 1. TLDN’s Operational Performance Full Year 2023)

Wishnu Wardhana said the operational performance realized last year aligned with optimizing the added value from the company’s oil palm plantation by utilizing TLDN Productivity Technology Science (TPTS), a technology platform owned by TLDN that employs a precision agriculture concept.

In this context, TLDN applies remote sensing technology and artificial intelligence (AI) to support various aspects of oil palm plantation management, including plant monitoring, yield prediction, resource management, and production process improvement. Consequently, operational production output can be maximized.

Furthermore, operational performance is also influenced by management consistency in plant maintenance. For your information, in 2023, the age profile of the Subsidiaries’ plants consisted of 97% prime-aged plants (≥8 years), 2% young plants (4-7 years), and the rest is immature plants. The spread of nucleus plantation is recorded at 48,524 hectares, and the plasma plantation covers an area of 11,953 hectares.

“With the positive financial and operational performance achieved throughout 2023, we are optimistic that TLDN can continue to sustain its growth momentum in 2024,” said Wishnu Wardhana.

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