Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to Rp436, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 10x in the Food industry in Indonesia. Total returns to shareholders of 12% over the past three years. Declared Dividend • Apr 19
Final dividend of Rp38.65 announced Shareholders will receive a dividend of Rp38.65. Ex-date: 27th April 2026 Payment date: 19th May 2026 Dividend yield will be 8.1%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 32% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 36% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 10
PT Teladan Prima Agro Tbk, Annual General Meeting, Apr 16, 2026 PT Teladan Prima Agro Tbk, Annual General Meeting, Apr 16, 2026. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: Rp20.71 (vs Rp9.64 in 3Q 2024) Third quarter 2025 results: EPS: Rp20.71 (up from Rp9.64 in 3Q 2024). Revenue: Rp1.26t (up 26% from 3Q 2024). Net income: Rp268.0b (up 115% from 3Q 2024). Profit margin: 21% (up from 12% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp865, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 15x in the Food industry in Indonesia. Total returns to shareholders of 68% over the past three years. Board Change • Oct 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Independent Commissioner Iwa Hudaya was the last independent director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 18
PT Teladan Prima Agro Tbk (IDX:TLDN) acquired 99.99% stake in PT Cipta Daya Mandiri Tbk from PT REA Kaltim Plantations for approximately IDR 140 billion. PT Teladan Prima Agro Tbk (IDX:TLDN) acquired 99.99% stake in PT Cipta Daya Mandiri Tbk from PT REA Kaltim Plantations for approximately IDR 140 billion on June 13, 2025. The purpose of this acquisition transaction is to increase the Teladan Prima's assets and increase production as one of the Company's long-term business development plans. This step is also to fulfill the plan to use the funds from the initial public offering. After the completion of this transaction, Teladan Prima Agro will become the direct owner of 99.99% of the shares and controller of CDM. Furthermore, CDM will be merged and consolidated into Teladan Prima Agro's financial statements.
PT Teladan Prima Agro Tbk (IDX:TLDN) completed the acquisition of 99.99% stake in PT Cipta Daya Mandiri Tbk from PT REA Kaltim Plantations on June 13, 2025. Announcement • Apr 29
PT Teladan Prima Agro Tbk announces Annual dividend, payable on May 15, 2025 PT Teladan Prima Agro Tbk announced Annual dividend of IDR 31.0000 per share payable on May 15, 2025, ex-date on May 06, 2025 and record date on May 07, 2025. Announcement • Apr 23
PT Teladan Prima Agro Tbk (IDX:TLDN) entered into sale and purchase agreement to acquire PT Cipta Davia Mandiri from PT REA Kaltim Plantations and PT Kutai Mitra Sejahtera for IDR 412.72 billion. PT Teladan Prima Agro Tbk (IDX:TLDN) entered into sale and purchase agreement to acquire PT Cipta Davia Mandiri from PT REA Kaltim Plantations and PT Kutai Mitra Sejahtera for IDR 412.72 billion on April 22, 2025. The purpose of this transaction was to fulfill the plan to use funds from the initial public offering of PT Teladan Prima Agro Tbk to be used to acquire companies engaged in the palm oil sector.
For the period ending December 31, 2024, PT Cipta Davia Mandiri reported revenue of 146.2 billion, operating loss of IDR 37.98 billion and net loss of IDR 14.44 billion. As of December 31, 2024, PT Cipta Davia Mandiri reported total assets of IDR 559.44 billion and total common equity of IDR 169.99 billion.
The transaction is subject to completion of the agreed capitalizations of debt, Bank Mandiri consenting to the Transaction and agreeing to release guarantees that have been provided by the company and REA Kaltim in respect of the loan provided by Bank Mandiri to CDM abd the statutory severance benefits due by operation of Indonesian law to employees of CDM on completion of the Transaction having been duly paid.. The expected completion of the transaction is June 4, 2025. The proceeds of sale of CDM will accrue to REA Kaltim and will be applied by REA Kaltim in meeting repayments of bank borrowings.
N.M. Rothschild & Sons Limited acted as financial advisor for PT REA Kaltim Plantations. Ashurst LLP acted as legal advisor for PT REA Kaltim Plantations. William Hendrik Esther Law Office acted as legal advisor for PT REA Kaltim Plantations. Announcement • Mar 18
PT Teladan Prima Agro Tbk, Annual General Meeting, Apr 24, 2025 PT Teladan Prima Agro Tbk, Annual General Meeting, Apr 24, 2025. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Rp580, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 16x in the Food industry in Indonesia. Total returns to shareholders of 30% over the past year. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: Rp5.43 (vs Rp4.03 in 1Q 2023) First quarter 2024 results: EPS: Rp5.43 (up from Rp4.03 in 1Q 2023). Revenue: Rp858.6b (down 10% from 1Q 2023). Net income: Rp70.2b (up 35% from 1Q 2023). Profit margin: 8.2% (up from 5.5% in 1Q 2023). The increase in margin was driven by lower expenses. Upcoming Dividend • Apr 30
Upcoming dividend of Rp12.21 per share Eligible shareholders must have bought the stock before 07 May 2024. Payment date: 21 May 2024. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Indonesian dividend payers (6.3%). In line with average of industry peers (3.3%). Reported Earnings • Apr 01
Full year 2023 earnings released: EPS: Rp34.90 (vs Rp44.83 in FY 2022) Full year 2023 results: EPS: Rp34.90 (down from Rp44.83 in FY 2022). Revenue: Rp4.01t (up 11% from FY 2022). Net income: Rp451.8b (down 21% from FY 2022). Profit margin: 11% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. New Risk • Aug 03
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Dividend is not well covered by earnings (133% payout ratio). Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Aug 02
Second quarter 2023 earnings released: EPS: Rp0.87 (vs Rp15.71 in 2Q 2022) Second quarter 2023 results: EPS: Rp0.87 (down from Rp15.71 in 2Q 2022). Revenue: Rp960.1b (up 2.8% from 2Q 2022). Net income: Rp11.2b (down 95% from 2Q 2022). Profit margin: 1.2% (down from 23% in 2Q 2022). The decrease in margin was driven by higher expenses. Buying Opportunity • Mar 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 9.6%. The fair value is estimated to be Rp667, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last year. Earnings per share has grown by 75%. Buying Opportunity • Jan 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.2%. The fair value is estimated to be Rp709, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last year. Earnings per share has grown by 75%. Reported Earnings • Dec 01
Third quarter 2022 earnings released Third quarter 2022 results: Net income: Rp53.3b (up Rp53.3b from 3Q 2021). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Independent Commissioner Iwa Hudaya was the last independent director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 02
Second quarter 2022 earnings released Second quarter 2022 results: EPS: Rp15.71. Revenue: Rp933.8b (flat on 2Q 2021). Net income: Rp211.6b (up Rp211.6b from 2Q 2021). Profit margin: 23% (up from null in 2Q 2021). 
