September 18, 2014 9:09 PM ET

Food Products

Company Overview of PT Salim Ivomas Pratama

Company Overview

PT Salim Ivomas Pratama Tbk, together with its subsidiaries, produces and sells edible oils and fats in Indonesia and internationally. The company operates through two segments, Plantations, and Edible Oil and Fats. The Plantations segment is primarily involved in the development and maintenance of oil palm, sugar cane, and rubber plantations; and other business activities relating to palm oil, sugar, and rubber processing, marketing, and selling. This segment is also engaged in the development and maintenance of cocoa, coconut, and tea plantations; and management and cultivation of industrial timber plantations. The Edible Oil and Fats segment produces, markets, and sells edible oil, margar...

Sudirman Plaza

Indofood Tower Lt. 11

Jl. Jend Sudirman Kav. 76-78

Jakarta,  12910

Indonesia

Founded in 1992

38,343 Employees

Phone:

62 21 5795 8822

Fax:

62 21 5793 7503

Key Executives for PT Salim Ivomas Pratama

PT Salim Ivomas Pratama does not have any Key Executives recorded.

PT Salim Ivomas Pratama Key Developments

PT Salim Ivomas Pratama Tbk Reports Unaudited Consolidated Earnings Results for the First Half Ended June 30, 2014

PT Salim Ivomas Pratama Tbk reported unaudited consolidated earnings results for the first half ended June 30, 2014. For the period, the group posted a double digit net sales growth to IDR 7.17 trillion, 11% increase compared to IDR 6.45 trillion a year ago. Strong net sales growth was principally driven by higher sales volume of cooking oils and margarine as well as higher average selling prices of palm products and edible oils and fats products. Operating profit rose 202% to IDR 1.2 trillion with operating margin of 17% mainly supported by higher average selling price of palm products. Profit attributable to owners of the parent surged 361% to IDR 498 billion and EPS rose 357% to IDR 32 per share as principally attributable to higher operating profit.

PT Salim Ivomas Pratama Tbk Reports Consolidated Earnings and Production Results for the First Quarter of 2014

PT Salim Ivomas Pratama Tbk reported consolidated earnings and production results for the first quarter of 2014. The company posted net sales of IDR 3,171 billion compared to IDR 3,097 billion a year ago. Operating profit was IDR 419 billion against IDR 251 billion a year ago. Profit attributable to owners of the parent was IDR 192 billion against IDR 100 billion a year ago. EPS was IDR 12 against IDR 6 a year ago. EBITDA was IDR 740 billion against IDR 458 billion a year ago. Sales increased 2% mainly on the back of higher sales volume of cooking oils and higher average selling prices of edible oils & fats products. Group posted a 92% increase in profit attributable to owners of the parent mostly due to higher operating profit and also higher finance income as a result of net gains on forex arising from financing activities. On the production front in first quarter of 2014, the company achieved FFB nucleus production of 958,000 MT against 844,000 MT a year ago, mostly due to higher production from South Sumatra and Kalimantan. CPO was 210,000 MT against 182,000 MT a year ago, mainly due to higher FFB nucleus production and higher FFB purchases from external parties. PK was 47,000 MT against 42,000 MT a year ago. Rubber was 5,100 MT against 4,800 MT a year ago.

PT Salim Ivomas Pratama Reports Audited Consolidated Sales Results for the Fourth Quarter and Earnings Results for the Year Ended December 31, 2013; Reports Production Results for the Year Ended December 31, 2013

PT Salim Ivomas Pratama Tbk reported its audited consolidated sales results for the fourth quarter and earnings results for the year ended December 31, 2013. The Group posted net sales of IDR 13.28 trillion in 2013 or a 4% decrease compared to IDR 13.84 trillion in the previous period mostly attributable to lower sales volume and average selling price of bulk and coconut oil. Operating profit in 2013 fell 28% to IDR 1.77 trillion with operating margin of 13% due to lower net sales. This was further affected by rising wages and newly matured plantations; contributing to higher unit production costs. Profit attributable to owners of the parent in 2013 decreased 55% to IDR 524 billion from IDR 1,157 billion in the previous period, due to lower operating profit, lower finance income and higher finance cost as a result of higher losses on forex arising from financing activities. EPS was IDR 33. Nonetheless in the fourth quarter of 2013, the Group achieved a strong result of net sales of IDR 3.7 trillion, a 13% increase compared to the fourth quarter 2012 mainly attributable to the combined effects of higher average selling prices and higher sales volume of palm products, cooking oil and margarine. On the production front in 2013, the company achieved FFB nucleus production of 2,895,000 tonnes, down 3% year-on-year as a result of lower production from Sumatra, while CPO production in 2013 decreased 8.0% to 810,000 tonnes mainly due to lower purchases of FFB from external parties.

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