Net profit in 2012 only increased 0.2 percent as the company had to face lower crude palm oil (CPO) prices amid lower demand from China and India. Postponement of palm oil shipments in order to wait for a recovery in CPO prices was not an option as the company lacks storage capacity. Net revenue increased 7.3 percent to IDR 11.56 trillion (USD $1.2 billion).

Astra Agro Lestari has reserved USD $300 to $350 million for capital expenditure (capex) this year, aimed at expanding production levels and production storage capacity. The sources for capital expenditure are the company's internal cash reserves and bank loans. Cash reserves will supply about USD $100 million to the capex, with the remainder originating from four banks: OCBC Bank Singapore, Mizuho Bank, Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU), and Sumitomo Mitsui Banking Corporation (SMCB). Astra Agro Lestari has already received USD $200 million in bank loans. Funds will be used to finance the completion of refineries in Aceh (Sumatra) and East Kalimantan, and for the development of new refineries in Central Sulawesi and South Kalimantan. These two new refineries should start operations in 2014.

Astra Agro Lestari is the plantation unit of Astra International, Indonesia's largest diversified conglomerate. Production of crude palm oil accounts for approximately 88 percent of the company's sales revenues. Kernel and its derivatives account for a little over ten percent of its annual sales revenues.

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Astra Agro Lestari's Financial Highlight:

       2008      2009      2010      2011      2012
Net Revenue      8.16      7.42      8.84     10.77     11.56
Gross Profit      3.80      3.10      3.61      3.93      4.36
Net Profit      2.63      1.67      2.02      2.41      2.41
Total Assets      6.52      7.57      8.79     10.20     12.42
Total Liabilities
     1.18      1.14      1.33      1.78      3.05
Earnings per share¹     1,671     1,055     1,281     1,528     1,531
Dividend per Share¹       505       685       830       995       685

in trillion IDR (Rupiah), except stated otherwise
¹ in IDR (Rupiah)
Source: Astra Agro Lestari, Annual Report 2012