SIPEF

Annual / Quarterly Financial Statement • Feb 14, 2019

Group production - (in tonnes)

December 2018

YoY Variation Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Q4 Q1 Own 73 557 71 301 92 608 85 368 322 834 67 317 69 740 89 828 82.686 309 571 3,24% Tolan Tiga Group 50 651 62 909 47 761 208 063 44 712 50 930 60 785 48 730 205 157 -1,99% Umbul Mas Wisesa Group 46 742 84 280 90 635 108 447 87 736 371 098 80 677 80 584 96 552 92 133 349 946 -4,77% Agro Muko Group 6 548 8 761 16 723 16 212 48 244 203 215 5 204 8 943 14 565 81,29% 231,23% South Sumatra Group 84 071 93 506 82 818 87 986 348 381 92 824 82 924 74 126 82 300 332 174 6,91% Hargy Oil Palms 295 198 314 854 363 505 325 063 1 298 620 285 733 284 393 326 495 314 792 1 211 413 3,26% Total own Outgrowers 0 0 0 0 0 0 0 0 0 0 - Tolan Tiga Group 18 158 95 271 0 0 0 0 0 - Umbul Mas Wisesa Group 0 3 441 3 501 4 181 2 373 13 496 3 038 3 096 3 918 3 774 13 826 -37,13% Agro Muko Group 517 644 1 162 1 172 3 495 0 0 702 852 1 554 37,56% 124,90% South Sumatra Group 46 628 64 674 58 796 59 037 229 135 65 521 60 014 49 787 49 519 224 841 19,22% Hargy Oil Palms 50 586 68 837 64 297 62 677 246 397 68 559 63 110 54 407 54 145 240 221 15,76% Total outgrowers 345 784 383 691 427 802 387 740 1 545 017 354 292 347 503 380 902 368 937 1 451 634 5,10% Total FFB produced Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Q4 Fresh fruit bunches sold Q1 0 0 0 0 0 5 0 0 0 5 - -100,00% Tolan Tiga Group 7 710 10 368 9 375 35 127 7 767 8 771 11 384 8 928 36 850 5,01% Umbul Mas Wisesa Group 7 674 1 191 2 614 0 0 3 805 203 215 2 727 786 3 931 -100,00% South Sumatra Group 8 865 10 324 10 368 9 375 38 932 7 975 8 986 14 111 9 714 40 786 -3,49% Total FFB sold Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Q4 73 557 71 301 92 608 85 368 322 834 67 312 69 740 89 828 82 686 309 566 3,24% 42 959 52 699 38 481 173 207 36 945 42 159 49 401 39 802 168 307 -3,32% 39 068 87 721 94 136 112 628 90 109 384 594 83 715 83 680 100 470 95 907 363 772 -6,05% 5 874 6 791 17 885 17 384 47 934 0 0 3 179 9 009 12 188 92,97% 130 699 158 180 141 614 147 023 577 516 158 345 142 938 123 913 131 822 557 018 11,53% 336 919 373 367 417 434 378 365 1 506 085 346 317 338 517 366 791 359 226 1 410 851 5,33% Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Q4 PO extraction rate 22,7% 22,5% 22,2% 22,5% 22,5% 22,1% 22,3% 22,5% 22,8% 22,4% -1,39% Tolan Tiga Group 23,9% 24,0% 23,8% 24,0% 23,4% 23,6% 22,9% 24,4% 23,5% -2,37% Umbul Mas Wisesa Group 24,5% 23,2% 22,8% 23,0% 22,9% 23,0% 22,7% 22,9% 22,2% 23,2% 22,7% -1,50% Agro Muko Group 23,5% 24,6% 23,6% 25,6% 24,4% 24,2% 25,1% 24,4% 24,8% 24,6% 3,48% Hargy Oil Palms 15,1% 19,7% 16,7% 19,8% 18,0% - - 12,8% 16,0% 15,2% 23,41% South Sumatra Group 23,2% 23,6% 22,9% 23,8% 23,4% 23,4% 23,8% 23,0% 23,6% 23,5% 0,72% Total PO extraction rate Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Q4 16 689 16 072 20 552 19 179 72 492 14 881 15 580 20 178 18 838 69 477 1,81% 10 259 12 592 9 145 41 568 8 654 9 964 11 310 9 712 39 640 -5,84% 9 572 19 576 20 737 25 023 19 883 85 219 18 344 18 514 21 526 21 443 79 827 -7,28% 821 1 158 2 011 2 157 6 147 0 0 360 1 319 1 679 63,53% 19 851 23 077 19 522 22 565 85 015 22 393 20 830 18 118 20 348 81 689 10,90% 66 509 71 303 79 700 72 929 290 441 64 272 64 888 71 492 71 660 272 312 1,77% 0 0 0 0 0 0 0 0 0 0 - 4 37 22 63 0 0 0 0 0 - 0 750 750 882 709 3 091 651 669 801 808 2 929 -12,25% Agro Muko Group 64 181 968 1 277 2 490 0 0 46 123 169 938,21% South Sumatra Group 10 862 15 779 13 891 15 140 55 672 15 958 15 103 12 165 12 322 55 548 22,87% Hargy Oil Palms 11 676 16 714 15 778 17 148 61 316 16 609 15 772 13 012 13 253 58 646 29,39% Total outgrowers 78 185 88 017 95 478 90 077 351 757 80 881 80 660 84 504 84 913 330 958 6,08%
			2018			2017
	Fresh fruit bunches produced
								4,28%
								1,42% 6,04%
								4,88% 7,20%
								-2,39%
								1,91%
								2,57%
								6,43%
								-4,68%
								-3,21%
								-4,55%
	Fresh fruit bunches processed
	Tolan Tiga Group							4,29%
	Umbul Mas Wisesa Group							2,91%
	Agro Muko Group							5,72%
	South Sumatra Group							293,29%
	Hargy Oil Palms							3,68%
	Total FFB processed							6,75%
								0,05%
								2,49%
								0,93%
								-1,12%
								18,84%
								-0,44%
	Palm Oil
	Own
	Tolan Tiga Group							4,34%
	Umbul Mas Wisesa Group							4,86%
	Agro Muko Group							6,75%
	South Sumatra Group							266,11%
	Hargy Oil Palms							4,07%
	Total own							6,66%
	Outgrowers
	Tolan Tiga Group
	Umbul Mas Wisesa Group
								5,53%
								1373,37%
								0,22%
								4,55%
	Total Palm Oil							6,28%

Palm Kernels	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Own
Tolan Tiga Group	4 118	3 927	5 125	4 856	18 026	3 793	3 663	4 958	4 670	17 084	3,98%	5,51%
Umbul Mas Wisesa Group	1 576	1 642	2 050	1 506	6 774	1 499	1 619	1 809	1 608	6 535	-6,34%	3,66%
Agro Muko Group	4 310	4 369	5 476	4 358	18 513	4 188	4 121	4 940	5 103	18 352	-14,60%	0,88%
South Sumatra Group	213	265	411	513	1 402	0	0	107	351	458	46,15%	206,11%
Total own	10 217	10 203	13 062	11 233	44 715	9 480	9 403	11 814	11 381	42 429	-1,30%	5,39%
Outgrowers
Tolan Tiga Group	0	0	0	0	0	0	0	0	0	0	-	-
Umbul Mas Wisesa Group	0	1	5	4	10	0	0	0	0	0	-	-
Agro Muko Group	152	149	185	145	631	135	136	169	173	613	-16,18%	2,94%
South Sumatra Group	16	40	192	289	537	0	0	13	33	46	775,76%	1067,39%
Total outgrowers	168	190	382	438	1 178	135	136	182	206	659	112,62%	78,76%
Total Palm Kernels	10 385	10 393	13 444	11 671	45 893	9 615	9 539	11 996	11 587	43 088	0,72%	6,51%
Palm Kernel Oil	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Hargy Oil Palms Own	1 616	1 921	1 610	1 814	6 961	1 945	1 782	1 672	1 691	7 090	7,27%	-1,82%
Hargy Oil Palms Outgrowers	926	1 377	1 193	1 266	4 762	1 418	1 327	1 092	1 080	4 917	17,22%	-3,15%
Total Palm Kernel Oil	2 542	3 298	2 803	3 080	11 723	3 363	3 109	2 764	2 771	12 007	11,15%	-2,37%
Rubber	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Own
Tolan Tiga Group	643	324	729	739	2 435	791	539	698	855	2 883	-13,57%	-15,54%
Melania	965	885	346	780	2 976	1 007	953	506	666	3 132	17,12%	-4,98%
Agro Muko	686	622	717	546	2 571	535	599	493	537	2 164	1,68%	18,81%
Total Rubber	2 294	1 831	1 792	2 065	7 982	2 333	2 091	1 697	2 058	8 179	0,34%	-2,41%
Tea	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Melania	595	590	473	764	2 422	578	591	578	655	2 402	16,64%	0,83%
Total Tea	595	590	473	764	2 422	578	591	578	655	2 402	16,64%	0,83%
Bananas	Q1	Q2	Q3	Q4	YTD	Q1	Q2	Q3	Q4	YTD	Q4	YTD
Azaguie 1	1 345	755	1 466	964	4 530	1 594	1 160	1 142	1 249	5 145	-22,82%	-11,95%
Azaguie 2	2 395	1 932	2 201	2 669	9 197	1 582	1 579	1 601	2 044	6 806	30,58%	35,13%
Agboville	2 038	1 872	1 783	2 056	7 749	2 578	1 832	2 701	2 750	9 861	-25,24%	-21,42%
Motobe	1 538	1 426	1 812	1 536	6 312	2 387	2 100	1 859	1 614	7 960	-4,83%	-20,70%
Total Bananas												-6,66%
	7 316	5 985	7 262	7 225	27 788	8 141	6 671	7 303	7 657	29 772	-5,64%

Commodity Price Data

December 2018

Average market prices
Product		YTD Q4/2018	YTD Q4/2017
CPO (CIF Rotterdam)*	in \$/mt	598	715
CPKO (CIF Rotterdam)*	in \$/mt	921	1 279
RSS3 (FOB Singapore)**	in \$/mt	1 565	1 995
Tea (avg auct Mombasa)**	in \$/mt	2 579	2 971
Bananas (CFR Europe)***	in €/mt	647	684

* Oilworld price data

** World bank commodity price data - updated database

*** CIRAD price data (in EUR)