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Bumitama Agri Q4 profit falls YOY

Bumitama Agri Ltd. said its fourth-quarter normalized net income amounted to 124.97 rupiah per share, a decline of 10.1% from 138.98 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 219.46 billion rupiah, a decrease of 10.2% from 244.26 billion rupiah in the prior-year period.

The normalized profit margin fell to 11.0% from 15.6% in the year-earlier period.

Total revenue decreased 7.8% year over year to 1.448 trillion rupiah from 1.570 trillion rupiah, and total operating expenses fell 5.5% on an annual basis to 1.049 trillion rupiah from 1.110 trillion rupiah.

Reported net income increased 9.7% from the prior-year period to 292.27 billion rupiah, or 166.43 rupiah per share, from 266.43 billion rupiah, or 151.59 rupiah per share.

For the year, the company's normalized net income totaled 390.00 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 557.25 rupiah.

EPS declined 26.9% from 533.30 rupiah in the prior year.

Normalized net income was 685.29 billion rupiah, a decline of 26.9% from 937.29 billion rupiah in the prior year.

Full-year total revenue decreased year over year to 5.542 trillion rupiah from 5.757 trillion rupiah, and total operating expenses increased 8.9% year over year to 4.178 trillion rupiah from 3.836 trillion rupiah.

The company said reported net income decreased 22.8% year over year to 890.70 billion rupiah, or 506.90 rupiah per share, in the full year, from 1.153 trillion rupiah, or 656.04 rupiah per share.

As of April 7, US$1 was equivalent to 13,150 rupiah.