PT Astra Agro Lestari Tbk (AALI) has recorded a positive performance in the period of January-March 2020. The company’s net profit has risen over 892%, reaching the value of Rp 371,06 billion, in comparison to the same period in 2019.
“Following the increase, the earning per share has risen to 891,72% from 19,44 from the first quarter in 2019 to Rp 192,79 from the first quarter in 2020,” said Santosa, CEO of Astra Agro in his statement for a press release in Jakarta, Tuesday (28/4).
The uplift in the company’s net profit on the first quarter of 2020 is driven by the 45% increase in average selling price of oil palm where the price has reach Rp 9.037/kg. In the same period, the net income of Astra Agro has risen to 13,3% from Rp 4,23 trillion to Rp 4,79 trillion.
“We always maintain the operational excellence in facing the challenges in palm oil industry. This also applied when facing the current economic uncertainty caused by COVID-19.” stated Santosa.
From the operational aspect, Astra Agro has recorded 8,5% decline in the production of oil palm’s FFB (Fresh Fruit Bunches), from 1,21 million ton to 1,1 million ton in the first quarter of 2020. The production of Crude Palm Oil (CPO) has 14,6% decrease from 414 thousand ton to 354 thousand ton. While the production of palm olein has increase over 20,9% from 83,6 thousand ton to 101,1 thousand ton.
“Weather is the factor that affects the FFB production in the first quarter of 2020.” said Santosa.
In dealing with the covid-19 pandemic, Astra Agro has applied several protocols for the workers in head office and plantation sites. Some of the attempts included the application of WFH (work from home) policy for the head offices employee, restriction to leave plantation site, physical distancing, and promoting the government’s campaign to restrict the annual “mudik”, a yearly homecoming tradition in celebration of Eid al-Fitr.
“We support the government to prevent the transmission of covid-19,” said Santosa.