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PT SMART Tbk Sets Sales Volume Record in 2023

Posted: Jun 05, 2024 2 minute read SMART 0 Likes
  • SMART’s strategy, which focuses on value optimisation along the operational chain, resulted in a healthy EBITDA margin of 5.7%.
  • For the financial year 2023, SMART plans to distribute dividends of Rp95 per share.

Jakarta, June 5, 2024 – PT Sinar Mas Agro Resources and Technology Tbk (“SMART” or “the Company”) achieved continued good performance in 2023 amidst the normalisation of CPO market prices after reaching record highs in 2022. The decline in selling price was partially compensated by the achievement of a record sales volume of 5.5 million tons, resulting in net sales of IDR 67 trillion in 2023. The Company’s strategy, which focuses on value optimisation along the operational chain, supported the achievement of an EBITDA of IDR 3.8 trillion and a net profit of IDR 918 billion. These achievements were reported at the Company’s Annual General Meeting of Shareholders at Plaza Sinar Mas Land, Jakarta today.

Regarding the Company’s performance for the fiscal year 2023, Mr Jimmy Pramono, the Vice President Director and Corporate Secretary of the Company, said: “We are grateful that SMART recorded good performance amid fluctuating market conditions. Facing this dynamic situation, the Company remains flexible and maintains its focus on optimising value along the business chain. Innovation and the application of rapid technological advances have made the Company agile and resilient. These skills are indispensable given the rapidly changing market demands and industry challenges.”

The Company’s strategic focus is rejuvenating its plantations through replanting and intensive mechanization to maintain productivity and cost advantages. Another initiative is strategically developing value-added businesses. SMART continues to expand its product portfolio to meet evolving customer demands. The Company also invests resources in responsible production practices along the operational value chain by focusing on traceability and segregation.

Furthermore, the Company’s shareholders approved the distribution of a cash dividend of Rp95 per share, or IDR 273 billion, approximately 30 percent of the Company’s net profit in 2023.

During the Annual General Meeting of Shareholders, SMART shareholders approved and ratified the Company’s Annual Report and the Board of Commissioners’ Supervisory Report for the financial year ended December 31, 2023.

 

About PT Sinar Mas Agro Resources and Technology Tbk (“SMART”)

SMART is one of Indonesia’s leading palm oil-based consumer products public companies with 134,900 hectares of plantations under management (including plasma plantations) as of March 31, 2024. The Company has integrated operations that focus on responsible and technology-driven production.

Founded in 1962, SMART has been listed on the Indonesia Stock Exchange since 1992. SMART focuses on sustainable palm oil production. The main business activities include cultivating and harvesting oil palm plants, processing fresh fruit bunches into crude palm oil and palm kernel, and processing them into various value-added products such as cooking oil, margarine, shortening, biodiesel, and oleochemicals, as well as trading palm-based products worldwide.

In addition to producing bulk and industrial oils, SMART’s refined products are also marketed under several brands such as Filma and Kunci Mas, which are recognised for their quality in Indonesia.

 

For media enquiries, please contact:

Annisa Indrayanti
annisa.indrayanti@sinarmas-agri.com

Adam Rahadian Ashari
adam.r.ashari@sinarmas-agri.com

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