Astra Agro Lestari

Stock Quote Astra Agro Lestari - AALI:

Business Summary

As one of the leading producers of palm oil, Astra Agro Lestari now manages a total plantation area of 290,961 hectares - including both nucleus and plasma - in Sumatra, Kalimantan and Sulawesi with an average tree age of 14 years. Of that total plantation area, 272,393 hectare is labeled as mature plantation. The production of crude palm oil and its derivatives accounts for approximately 88 percent of the company's sales revenue. Kernel and its derivatives account for about 12 percent of the company's annual sales revenue.

Further Reading: Analysis and Overview of Indonesia's Palm Oil Industry

Astra Agro Lestari also owns a palm oil refinery (Tanjung Sarana Lestari) in West Sulawesi as well as a 50 percent stake in Kreasijaya Adhikarya in Riau (Sumatra). This has strengthened the company's business chain and is an important step to develop Indonesia's downstream palm oil industry. Both refineries are export-oriented (including China, India, Russia, Bangladesh, Pakistan, and South Korea). The company also owns 29 palm oil mills with a total installed capacity of 1,435 tons fresh fruit bunches (FFB) per hour, and eight units of kernel crushers with a production capacity of 920 tons per day. In 2015, the average utilization of the palm oil mills stood at 86.1 percent.

In 2015 around 98.5 percent of the company's crude palm oil sales were absorbed by the domestic market of Indonesia.

Operational Highlights of Astra Agro Lestari:

	2014	2015	2016	2017
Fresh Fruit Bunches	5,562.5	5,602.0	4,873.4	5,225.1
Crude Palm Oil	1,743.7	1,736.7	1,554.1	1,633.8
Kernel	373.3	370.6	336.4	356.6

 

	2009	2010	2011	2012	2013
Fresh Fruit Bunches	4,295.0	4,235.1	4,798.5	5,498.0	5,123.9
Crude Palm Oil	1,083.0	1,113.3	1,268.2	1,476.4	1,538.7
Kernel	232.2	239.4	269.3	323.1	328.1

^{in thousand tons
Source: Astra Agro Lestari, Annual Report 2017}

Astra Agro Lestari's Financial Highlights:

	2014	2015	2016	2017
Net Revenue	16,305.8	13,059.2	14,121.4	17,305.7
Gross Profit	4,951.8	3,082.1	3,676.0	4,145.3
Net Profit	2,504.5	619.1	2,007.0	2,010.3
Total Assets	18,559.4	21,512.4	24,226.1	24,935.4
Total Liabilities	6,725.6	9,813.6	6,632.6	6,399.0
Earnings per Share¹	1,590	393	1,136	1,045
Dividend per Share¹	716	0	469

 

	2010	2011	2012	2013	2014
Net Revenue	8,843.7	10,772.6	11,564.3	12,675.0	16,305.8
Gross Profit	3,609.3	3,934.9	4,357.5	4,081.9	4,951.8
Net Profit	2,018.8	2,405.6	2,410.3	1,801.4	2,504.5
Total Assets	8,791.8	10,204.5	12,419.8	14,963.2	18,559.4
Total Liabilities	1,334.5	1,778.3	3,054.4	4,695.3	6,725.6
Earnings per Share¹	1,281	1,528	1,531	1,144	1,590
Dividend per Share¹	830	995	685	515	716

^{in billion IDR rupiah, except stated otherwise
¹ in IDR rupiah
Source: Astra Agro Lestari, Annual Report 2017}

Future Forecast Astra Agro Lestari's Financial Highlights:

	2018	2019	2020F	2021F	2022F
Revenues	19,084.0	17,453.0	17,643.0	18,589.0	18,892.0
Net Income	1,439.0	211.0	815.0	1,219.0	1,452.0
EBITDA	3,203.0	1,869.0	2,428.0	3,144.0	3,598.0
P/E Ratio (x)	8.5	57.9	15.0	10.0	8.4
P/BV (x)	0.6	0.6	0.6	0.6	0.6

^{in billion IDR rupiah unless otherwise stated
Source: Sinarmas Sekuritas (12/05/2020)}