Bumitama Agri - Maybank Research 2023-08-13: 1H23 Exceeded Expectations; On Track To Deliver Dividend Yield Above 7%

Bumitama Agri - 1H23 Exceeded Expectations; On Track To Deliver Dividend Yield Above 7%

Bumitama Agri (SGX:P8Z) | SGinvestors.ioBumitama Agri (SGX:P8Z)
  • Bumitama Agri (SGX:P8Z)'s 1H23 core PATMI exceeded our and consensus expectations on higher-than-expected CPO ASP achieved. We believe 2H23 EPS are likely to be stronger on seasonally higher output and lower costs.
  • - Read this at SGinvestors.io -
  • BUY Bumitama Agri for its single-digit P/E with more than 7% dividend yields.

1H23 results: Beat our & consensus estimates

  • Stripping aside unrealized FX gains of IDR136b, Bumitama Agri's 1H23 core PATMI was IDR1,053b (-54% y-o-y) which met 50%/58% of our/consensus full-year forecasts.
  • - Read this at SGinvestors.io -
  • There was also cost pressures in 1H23 owing to high fertilizer and fuel costs, and to a lesser extent increased G&A expenses (due to FY22’s performance bonus). We understand Bumitama Agri has completed about 50% of its full-year fertiliser plan in 1H23.
  • Looking forward into 2H23, Bumitama Agri is poised to benefit from lower cost pressures as fertiliser and fuel prices have retreated recently.

Anticipating +22% ~ 33% h-o-h output recovery in 2H

  • Read more at SGinvestors.io.

Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.ketrade.com.sg/.

Ong Chee Ting CA Maybank Research | https://www.maybank-ke.com.sg/ 2023-08-13

Previous report by Maybank:
2023-05-15 Bumitama Agri - 1Q23 Within Expectations; BUY For >6% Dividend Yield.

Price targets by 3 other brokers at Bumitama Agri Target Prices.

Listing of research reports at Bumitama Agri Analyst Reports.

Relevant links:
Bumitama Agri Share Price History,
Bumitama Agri Announcements,
Bumitama Agri Dividends & Corporate Actions,
Bumitama Agri News Articles


You May Also Like

SGX Stock / REIT Search


Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁