Bumitama Agri - RHB Invest 2024-02-28: Inexpensive Pure Play With Good Dividend Yields

• Bumitama Agri (SGX:P8Z)’s FY23 results are lower than our estimate, but meets the Street projection. We expect earnings to decline slightly in FY24 on higher unit costs and lower PK prices, but still see value in this pure planter.
• - Read this at SGinvestors.io -

FY23 core earnings fell 24.7% y-o-y to IDR2,417bn.

• Bumitama Agri's FY23 core earnings fell 24.7% y-o-y to IDR2,417bn. This is below our estimate, but in line with the Street’s expectations, at 90-100% of FY23 forecasts – mainly due to lower-than-expected FFB output in 4Q23 and higher-than-expected unit costs.
• - Read this at SGinvestors.io -

Nucleus FFB decline of 11.8% q-o-q in 4Q23

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-11-14 Bumitama Agri - 3Q25 Earnings Weaken Q-o-q.

Previous report by RHB:
2025-09-22 Bumitama Agri - Valuations Now Fair Post Share Price Rerating.

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 Dividend Payout Dates & Corporate Actions,
Bumitama Agri News