page 1 of 3 UUNNSSPPNNe e wws s lle e tttte e rrNovember 2011 HIGHLIGHTS 9m11 Performance: Sales Rp 3,343bn (+76%)and Net Income Current Period Rp 713bn (+232%)Oil Palm and Rubber Plantation Age ProfileUNSP Credit Rating Upgrades 9m11 Performance–Income Statements PT Bakrie Sumatera Plantations Tbk (ticker: UNSP.JK) has completed the Limited Review for 9m11 Financials and booked Rp 713bn Net Income Current Period, or increased by 232% YoY, driven by higher productivity, favorable business environment and a windfall from ex-Domba Mas debt restructuring. 9m11 Sales grew by 76% YoY to Rp 3,343bn, on the back of increasing selling volume, higher selling prices and initial contribution from Oleochemicals. However blended 9m11 Gross Margin softened mainly due to Oleochemicals’relatively modest manufacturing margin. 9m11 Operating Income and Ebitda grew 125% and 97% YoY respectively, also impacted by written-off of loan interest. Income Statements (Rpbn)9m10 9m11 YoY Sales 1,896 3,343 76% Gross Profit 783 1,236 58% Operating Income 640 1,441 125% Ebitda 826 1,629 97% Net Income Current Period 215 713 232% Margins Gross Margin 41% 37% Operating Margin 34% 43% Ebitda Margin 44% 49% Net Margin 13% 21% UNSP-IR-20119m11 Performance–Sales Breakdown 9m11 Sales of Rp 3,343bn were 76% higher from last year, mostly driven by Palm Oil and Oleochemicals. CPO and Palm Kernel Sales in 9m11 grew by 70% and 90% YoY respectively as a result of higher sales volume and significant price increases. Rubber continue to benefit from high price environment, 9m11 Sales reached Rp 894bn or grew 35% YoY. Oleochemical s booked Rp 328bn Sales in 9m11 or 10% of Total Sales - compared to just 1% contribution in FY10. Going forward, Oleochemicals contribution will increase align with its sequential production start-up. Sales (Rpbn)9m10 9m11 YoY Crude Palm Oil 1,085 1,841 70% Palm Kernel 147 280 90% Rubber 663 894 35% Oleochemicals 0 328 n.a. Total Sales 1,896 3,343 76% Sales Volume (‘000 MT)Crude Palm Oil 165,357 238,762 44% Palm Kernel 38,764 53,938 39% Rubber 25,348 21,435 -15% Oleochemicals 0 28,438 n.a. Average Selling Price (USD/MT)Crude Palm Oil 736 873 19% Palm Kernel 409 588 44% Rubber 2,932 4,727 61% Oleochemicals 0 1,308 n.a. UNSP-IR-2011UUUNNNSSSPPPNNNe e e wwws s s llle e e tttttte e e rrrNovember 2011
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