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PT SMART Tbk’s Shareholders Approved the Annual Report for 2021

Posted: Jun 06, 2022 3 minute read Investor Relation

Jakarta, 6 June 2022 – The shareholders of PT Sinar Mas Agro Resources and Technology Tbk (”SMART” or the ”Company”) have approved and signed the Company’s Annual Report and the Board of Commissioners’ Supervisory Report for the fiscal year ending 31 December 2021. The approval was confirmed during the Annual General Meeting of Shareholders (AGMS or ”RUPST”) held today.

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During the meeting, the Board of Directors announced that the Company achieved record performance in 2021, driven by a continuous rally in the palm oil market price and an improved outlook for the industry. The Company’s net sales increased by 41% to more than Rp 57 trillion. The company also reported a record EBITDA of Rp 6.12 trillion, an increase of 49% compared to previous year, and net profit to Rp 2.83 trillion, a solid growth of 84% from the year 2020.

Furthermore, the Company’s shareholders agreed to pay out cash dividends of Rp 295 per share, totaling more than Rp 847 billion or approximately 30% of the Company’s net profit posted for 2021. Based on the interim dividend of Rp 185 per share paid on 24 November 2021, the remaining final dividend to be paid is Rp 110 per share, or approximately Rp 316 billion in total.

The AGMS also approved several changes to the Company’s Board of Directors. Mr. Irwan Tirtariyadi, who previously served as a Deputy President Director, will take over the baton to lead SMART as the President Director, following Mr. Jo Daud Dharsono’s retirement. Mr. Gianto Widjaja who previously served as a Director is appointed as a Deputy President Director in place of Irwan Tirtariyadi. The new Board of Directors is as follows:

President Director : Irwan Tirtariyadi
Deputy President Director : Jimmy Pramono
Deputy President Director : DR. ING. Gianto Widjaja
Director : Franciscus Costan
Director : D. Agus Purnomo
Director : Yovianes Mahar

Commenting on the performance, the Deputy President Director and Corporate Secretary Mr. Jimmy Pramono said, “We are pleased to see our achievements and strong performance in 2021, despite the ongoing COVID-19 pandemic. We continue to build on this momentum and leverage technology to accelerate innovation, productivity, efficiency, agility and cost competitiveness.”

He further added, “On behalf of the Board of Commissioners and the Board of Directors as well as our employees, we would like to express our sincere appreciation and gratitude to Mr. Jo Daud Dharsono, who worked and served at SMART for more than 35 years. As President Director since 2008, he has been instrumental in SMART’s growth as a leading palm-based agribusiness in Indonesia.”


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About Sinar Mas Agribusiness and Food
Sinar Mas Agribusiness and Food operates under Golden Agri-Resources (GAR) is one of the leading palm oil plantation companies with a total planted area of 536,907 hectares (including plasma smallholders) as at 31 March 2022, located in Indonesia. It has integrated operations focused on the technology-driven production and distribution of an extensive portfolio of palm-based products.

Founded in 1996, GAR was listed on the Singapore Exchange in 1999 and has a market capitalisation of US$2.9 billion as at 31 March 2022. Flambo International Limited, an investment company, is currently GAR’s largest shareholder, with a 50.56 percent stake. GAR has several subsidiaries, including PT SMART Tbk which was listed on the Indonesia Stock Exchange in 1992.

As an integrated agribusiness, GAR delivers an efficient end-to-end supply chain, from responsible production to global delivery. In Indonesia, its primary activities include cultivating and harvesting of oil palm trees; processing of fresh fruit bunch into crude palm oil (CPO) and palm kernel; refining CPO into value-added products such as cooking oil, margarine, shortening, biodiesel and oleo-chemicals; as well as merchandising palm products globally. GAR’s products are delivered to a diversified customer base in approximately 100 countries through its global distribution network with shipping and logistics capabilities, destination marketing, on-shore refining and ex-tank operations in many countries. GAR also has complementary businesses such as soybean-based products in China, sunflower-based products in India, as well as sugar businesses.

For more information, please contact:

Sinar Mas Agribusiness and Food Media Team
Beni Wijaya

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