PT Sinar Mas Agro Resources and Technology Tbk : SMART Tbk’s EBITDA grew by 56 percent in 2022

The Company's strategy to focus on production and sale of high-value-added products contributed to the 32 percent increase in net sales

Jakarta, 6 June 2023 - PT Sinar Mas Agro Resources and Technology Tbk ("SMART" or "the Company") achieved record financial performance for the 2022 financial year. The Company's net sales grew significantly by 32 percent to reach more than IDR 75 trillion. This result was announced today during the Annual General Meeting of Shareholders for Financial Year 2022 (AGMS) at Sinar Mas Plaza Building, Jakarta.

The Company's record financial performance in 2022 was supported by stronger palm oil market prices and a higher volume of palm oil product sales. The Company's strategy to focus on producing and selling high value-added products supported the growth of EBITDA to IDR 9.53 trillion, a 56 percent increase on the previous year. The Company also booked a net profit of IDR 5.50 trillion, an increase of 95 percent from 2021.

Commenting on the Company's performance, Vice President Director and Corporate Secretary of the Company, Jimmy Pramono said: "We are grateful that 2022 has been a year of excellent performance for SMART amid volatile market conditions. The management aspires to build a competitive advantage as an integrated and digitally-enabled palm oil-based company. Strong business lines across the Company place it in a strategic position to contribute to meeting the world's food and energy needs in a sustainable manner."

Furthermore, the Company's shareholders agreed to distribute cash dividends of IDR 570 per share or a total of IDR 1.64 trillion, approximately 30 percent of the Company's net profit in 2022. After taking into account the interim dividend of Rp 200 per share paid on 24 August 2022, the remaining final dividend to be paid is IDR 370 per share or a total of IDR 1.06 trillion.

During the AGMS, SMART shareholders approved and ratified the Company's Annual Report and the Board of Commissioners' Supervisory Report for the financial year that ended on 31 December 2022.

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About PT Sinar Mas Agro Resources and Technology Tbk ("SMART")
SMART is one of Indonesia's leading palm oil-based consumer products public companies with 136,400 hectares of plantations under management (including plasma plantations) as of 31 March 2023. The Company has integrated operations that focus on responsible and technology-driven production.

Founded in 1962, SMART has been listed on the Indonesia Stock Exchange since 1992. SMART focuses on sustainable palm oil production. The main business activities include cultivating and harvesting oil palm plants, processing fresh fruit bunches into crude palm oil and palm kernel, processing them into various value-added products such as cooking oil, margarine, shortening, biodiesel, and oleochemicals, as well as trading palm-based products worldwide.

In addition to producing bulk and industrial oils, SMART's refined products are also marketed under several brands such as Filma and Kunci Mas, which are recognized for their quality in Indonesia.

For further information, please contact:
Sinar Mas Agribusiness and Food Media Team

Annisa Indrayanti
[e-mail] | [phone]

Adam Rahadian Ashari
[e-mail] | [phone]