Aldira Sunrise 4 September 2024

AALI’s FFB production reaches 2.1M tons in 7M24
Astra Agro Lestari (AALI) recorded fresh fruit bunch (FFB) production of 2.1M tons in 7M24, equivalent to 47% of FY24 production target. Meanwhile, AALI’s production of crude palm oil (CPO) in 7M24 is 616,000 tons or has reached 44% of the FY24 target. AALI’s production in 2024 is expected to decrease due to the current weather uncertainty, especially in Aug which has entered the rainy season. Apart from that, the company’s replanting also experienced an increase of 38% in 7M24, thus having a temporary impact on production. Fundamentally, palm oil production in Indonesia is projected to decline or stagnate throughout 2024 due to the moratorium since 2018 and the aging profile of oil palm plantations nationally. According to GAPKI data, Indonesia’s CPO production fell 4% yoy. This is in line with the decline in AALI’s internal FFB production of 8% yoy in the same period. (Kontan)
APLN posted marketing sales of IDR 980B
Agung Podomoro Land (APLN) recorded marketing sales of IDR 980B in 1H24 (+40% yoy). This is partly supported by easily accessible mortgages with competitive interest rates. APLN currently owns and is building various property projects, such as Bukit Podomoro Jakarta, Podomoro Golf View, Podomoro Park Bandung, Parkland Podomoro Karawang, and Borneo Bay Residences in Balikpapan, near IKN Nusantara. (Bisnis Indonesia)
CLEO targets double-digit growth in 2H24
Sariguna Primatirta (CLEO) is optimistic about achieving its performance growth target, both sales and stable net profit by recording double-digit figures in 2H24. This optimism is based on CLEO’s 1H24 performance, in which the company posted a revenue of IDR 1.3T (+33% yoy) and IDR 128.8B net profit (+75% yoy). (Kontan)