First half was dominated by palm oil price rally and production recovery, while the second half was a period of normalizing prices and low-cycle production anomaly due to intensifying extreme weather condition
o The first triple-dip La Nina recorded in the 21st century, also likely to be the longest on record
Another year of stellar performance
Highest average selling price on record, complimented by fresh new high operational performance amid negative effects caused by extreme weather condition through a series of well-preparedmitigation efforts o FFB production from internal sources reached 3.9 million tons, translating to 21.4 tons per ha
o Financial metrics across the board surged to record-high level; revenue, net income*, and EBITDA climbed 29%, 67%, and 63% versus the previous year, respectively. Hence, net and EBITDA margins reached 8-year high during the year
Fundamental remains intact in the upcoming year, both externally and internally
It is proven that palm oil business is a defensive industry as it has largely gone unscathed in the past few years, despite swings in world economy, logistics-related supply shocks created by the pandemic, and the accompanying weather-related supply constraints
Elevated level of palm oil futures prevails in the past 3 years, attributable to structurally changed supply demand dynamics compared to the long downtrend in the decade leading to 2020
Going forward, Bumitama strong fundamentals will continue to pave the way for optimal outperformance, driven by favorable maturing age profile and precision agronomy practices that are executed in tandem with rigorous corporate values, as well as keeping tight control on financial costs and ensuring sustainability initiatives are updated with the everchanging nature of the business
Note:
• Net profit stated above is attributable to Owners of the Company, excluding grossed up dividend-related withholding tax
2
Table of Contents
Executive Summary
Performance Highlights
Performance Trend
Appendix
3
FFB Harvest
The year 2022 saw the second consecutive anomaly as 4Q22 shaped out to be the "low-cycle"
Total
Internal
External
tons
15%
tons
15%
tons
16%
3,863
1,468
Thousand
5,331
Thousand
3,374
Thousand
1,269
19%
14%
4,643
720
853
299
340
4Q21
4Q22
FY21
FY22
4Q21
4Q22
FY21
FY22
17%
FFB Yield
OER
15%
per ha
-0.5%
-0.3%
21.4
%
18.6
Ton
22.6
22.1
22.6
22.3
1,193
20%
1,018
4.0
4.8
4Q21
4Q22
FY21
FY22
4Q21
4Q22
FY21
FY22
4Q21
4Q22
FY21
FY22
4
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Original Link
Original Document
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Disclaimer
Bumitama Agri Ltd. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2023 11:19:57 UTC.
Bumitama Agri Ltd. is an Indonesia-based fresh fruit bunch (FFB) grower and producer of crude palm oil (CPO) and palm kernels (PK). The principal activity of the Company is investment holding. The principal activities of the subsidiaries are that of investment holding, operating oil palm plantations and palm oil mills located across the Indonesian provinces of Central Kalimantan, West Kalimantan and Riau, and the production and trading of crude palm oil and related products. It is engaged in the cultivation of oil palm trees, as well as the harvesting and processing of fresh palm fruit bunches (FFB) into CPO and PK. The Company has a total of 15 mills with a total planted area of approximately 187,628 hectares. Its mills include Pundu Nabatindo Mill, Katari Agro Mill, Gunung Makmur Mill, Bukit Makmur Mill, Sungai Cempaga Mill, Selucing Mill, Kotawaringin Mill, Lamandau Mill, Tonam Raya Mill, Kendawangan Mill, Pembangunan Raya Mill, Sungai Rasau Mill and Bukit Tunggal Jaya Mill.
BUMITAMA AGRI LTD. 
