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Sampoerna Agro (SGRO) Optimistic for Performance in Semester II/2021 Moncer, These are the Supporting Factors

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Bisnis.com, JAKARTA — Plantation issuer PT Sampoerna Agro Tbk. (SGRO) is optimistic that the second half of the company’s performance will bear fruit.

President Director of Sampoerna Agro Budi Halim said that the second semester performance of the Sampoerna Group subsidiary will be positive. This is because the palm oil industry climate from within and outside the country is currently bright.

“We have a strong view that palm oil prices will persist at higher levels compared to last year because the global palm oil supply situation has not recovered since the beginning of the year,” he said in an official statement, quoted Sunday (15/8/2021).

Budi added that the company’s production volume growth will also support performance. Along with the recovery of production, weather, and plant profiles that are still heading for peak productivity.

This year, the company targets production to grow more than 10 percent compared to last year’s realization.

In addition, he continued, Indonesian palm oil producers are now also more competitive since the reduction in export levies on palm products by the Indonesian government at the end of June.

“The trading price of palm oil in the domestic market has strengthened by more than 30 percent in the last six weeks, “added Budi.

SGRO noted that the average selling price of CPO rose from around Rp. 9,500 per kg in January to Rp. 10,800 in June 2021. The average selling price of CPO during the first semester of 2021 reached Rp. 10,000 per kg, an increase of 19 percent compared to the previous semester. the same period last year.

“Despite the ongoing pandemic conditions in various parts of the world and still filled with uncertainty to date as well as the high volatility of palm oil futures prices that have been affected by it, the Company has again managed to record a brilliant performance in the second quarter,” said Budi.

From the side topline, SGRO recorded revenue of IDR 2.66 trillion in the first semester of 2021, up from the previous year’s realization of IDR 1.60 trillion. While from bottom line, the company recorded a net profit of Rp386.86 billion, an increase compared to last year’s Rp971 million.

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