Higher commodity prices and rising production drive revenue up 19% at 4.6 trillion rupiah
[SINGAPORE] Bumitama Agri posted on Thursday (May 15) a 51 per cent rise in net profit to 495.6 billion rupiah (S$38.9 million) for the first quarter of 2025, from 328.4 billion rupiah in the previous corresponding period.
Revenue for the quarter rose 18.6 per cent year on year to reach 4.6 trillion rupiah, from 3.9 trillion rupiah. The group attributed the rise to higher commodity prices and improved palm production during the quarter.
Crude palm oil prices rose 26 per cent on the year to an average of 14,694 rupiah per kilogram in the quarter. Palm kernel prices surged 94 per cent from a year earlier, reaching 10,947 rupiah per kilogram. Bumitama Agri said the increased prices had offset lower sales volume in the quarter as inventories rose.
Meanwhile, the group said that palm oil production had normalised following a pent-up spike in Q4 2024. Fresh fruit bunch harvests from both nucleus and plasma estates reached 783.7 thousand tonnes in a 3 per cent rise from the previous corresponding period.
Earnings before interest, taxes, depreciation and amortisation rose 36 per cent on the year to one trillion rupiah from 743.2 billion rupiah.
Bumitama Agri announced a final dividend amounting to S$0.0544 per share for FY2024, following unanimous approval in its annual general meeting in April.
Including the interim dividend distributed in September 2024, the group said its total payout ratio would reach 60 per cent of the full year’s net profit, its highest on record. In FY2023, Bumitama Agri’s board paid a final dividend of S$0.0363 per share and a special dividend of S$0.0192 per share.
The counter was trading S$0.005 or 0.7 per cent higher S$0.76 at around 9.15 am, after the announcement.
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