- Bumitama Agri’s 3Q24 revenue was down 7.6% y-o-y to IDR4.0t. CPO was the main drag, as revenue fell 10% y-o-y to IDR3.5t. This was largely driven by a 24% y-o-y drop in sales volume (in line with the drop in production volume), partially offset by an 18% y-o-y (4% q-o-q) increase in average selling price (ASP) to IDR12,700 per kg.
- - Read this at SGinvestors.io -
- EBITDA margins compressed 1.4ppt q-o-q to 26.7% - this translated to a 35% y-o-y dip (1% q-o-q rise) in EBITDA to IDR1.1t. Net profit fell by a similar 32% y-o-y to IDR598b (+13% q-o-q).
9M24 revenue in line, but bottom line missed on continued margin compression.
- On a 9M24 basis, Bumitama Agri’s revenue slipped 1.9% y-o-y to IDR11.6t, while EBITDA and net profit fell 22% and 30% y-o-y to IDR2.9t and IDR1.5t, respectively.
- - Read this at SGinvestors.io -
Operational metrics looked weak y-o-y but have improved sequentially from 2Q24.
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-11-14
Previous report by OCBC:
2024-08-14 Bumitama Agri - Mixed Bag Of Results With Optimistic Guidance For 2H24.
Price targets by 2 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
