JAKARTA – PT Astra Agro Lestari Tbk (Astra Agro) has demonstrated commendable performance throughout 2024, enabling the company to distribute maximum dividends to its shareholders. The palm oil plantation enterprise, which has been listed on the Indonesia Stock Exchange since 1997, reiterated its commitment to sustainable governance with its mission themed “Reinforcing Sustainability” for 2025.
This information was disclosed during the annual Public Expose (Pubex) held following the Annual General Meeting of Shareholders (RUPST) at Menara Astra on April 28, 2024. Due to the company’s robust performance, shareholders approved the appropriation of the net profit for the fiscal year ending December 31, 2024, amounting to IDR 1.1 trillion. Furthermore, the shareholders sanctioned the distribution of dividends totaling IDR 515.8 billion, which is equivalent to IDR 268 per share. An interim dividend payment of IDR 161.7 billion, equivalent to IDR 84 per share, was made on October 24, 2024, while the remaining amount of IDR 354.1 billion, equating to IDR 184 per share, will be disbursed on May 28, 2025.
“The increase in prices has contributed to a 5% year-on-year rise in our revenue, totaling IDR 21.82 trillion, with net profit increasing by 9% from IDR 1.06 trillion to IDR 1.15 trillion in 2024,” stated the Company’s Director, Tingning Sukowignjo. She further noted that the implementation of cost efficiency strategies, the enhancement of operational excellence, and ongoing innovation in the production process have collectively facilitated the company’s achievement of optimal results.
It is noteworthy that the average price of crude palm oil (CPO) in the Rotterdam market increased by 12%, rising from USD 964 per ton in 2023 to USD 1,084 per ton throughout 2024. This increase in global prices positively influenced the company’s average CPO price, which rose by 15.6% in 2024, reaching IDR 12,883 per kilogram compared to IDR 11,142 per kilogram in 2023. Conversely, the average price of soy oil experienced a decline last year due to increased production relative to other vegetable oils, resulting in heightened competition in the global vegetable oil market.
Throughout 2024, 69% of Astra Agro’s sales were directed toward the domestic market, aligning with the company’s commitment to support government initiatives, particularly in fulfilling domestic palm oil supply under the Domestic Market Obligations (DMO) policy. Meanwhile, 31% of sales were dedicated to meeting global demand through exports to various countries, including China, India, South Korea, and Pakistan.
Commitment to Innovation and Sustainability in Corporate Governance
Despite the operational challenges faced by the Indonesian palm oil industry, Astra Agro, identified with the code AALI, remains resolute in advancing Research and Development (R&D) initiatives aimed at fostering sustainable operational performance. These efforts align with the sustainability objectives outlined in the company’s strategy, termed Astra Agro Sustainability Aspirations 2030, which emphasizes reduction in Greenhouse Gas (GHG) emissions, promotion of diversity and inclusion within the environment, and ensuring a positive impact of the company’s operations on the communities surrounding its operational areas and the Indonesian nation overall.
In 2024, the company achieved another milestone by constructing a methane capture facility. Currently, Astra Agro operates two methane capture units in Riau Province, designed to mitigate GHG emissions while providing energy efficiency in the form of New Renewable Energy (NRE). This initiative is consistent with the portfolio roadmap strategy of Astra Agro Sustainability Aspirations 2030.
“This methane capture technology is capable of reducing methane gas emissions from Palm Oil Mill Effluent (POME) to zero,” stated the President Director of Astra Agro, Djap Tet Fa. He added that the company has successfully reduced GHG emissions by 126.33 kilotons of CO2 and has maximized its Warehouse Management System (WMS) activities.
Djap Tet Fa also mentioned that the company implemented a replanting program covering 5,052 hectares, representing a 7% increase year-on-year in 2024. This replanting initiative employs superior seeds developed by the company’s R&D team. He emphasized the significance of this program in intensifying land use while maintaining ecosystem equilibrium.
Furthermore, innovation and technology application are consistently integrated into business processes to enhance performance. Astra Agro’s operational area has adopted Drone Monitoring System (DMS) technology to oversee operational performance, which is further supported by a control room that aggregates all monitoring data, facilitating real-time field condition assessment for management.
Changes in the Board of Directors and Commissioners of Astra Agro
During the agenda of the third RUPST 2025 meeting, shareholders approved changes in the composition of the Company’s Board of Directors. Specifically, Mr. Santosa will succeed Mr. Chiew Sin Cheok in his position.
During the recent renewal of the composition of the Company’s Board of Directors, Mr. Djap Tet Fa succeeded Mr. Santosa as the President Director of the Company. Subsequently, Mrs. Veronica Lusi Herdiyanti was appointed to assume the position of Director, replacing Mr. Djap Tet Fa. Additionally, Mr. Bandung Sahari has taken over the directorial role from Mr. M. Hadi Sugeng Wahyudiono, who has entered retirement.
At this year’s Annual General Meeting of Shareholders, Astra Agro announced updates to the composition of both the Board of Commissioners and the Board of Directors, which are as follows:
President Commissioner: Santosa
Commissioner: Johannes Loman
Commissioner: Aridono Sukmanto
Commissioner: Ratna Wardhani
President Director: Djap Tet Fa
Director: Tingning Sukowignjo
Director: Widayanto
Director: Eko Prasetyo
Director: Arief Catur Irawan
Director: Veronica Lusi Herdiyanti
Director: Bandung Sahari
