PT Perkebunan Nusantara III (Persero) posted revenue growth of 11.6% or Rp39.6 trillion in 2020, with an increase of around 59.2% in EBITDA to Rp6.5 trillion. The increase in income impacts improving performance from the financial side, marked by a significant decrease in company losses (net loss) compared to the same period in 2019.

"This achievement is supported by the increase in CPO prices in the market," said PTPN III President Director Abdul Gani in a press release, Monday (1/2).

It was noted that there was an increase in the production of the main commodities. CPO rose to 2.38 million tons, rubber production increased by 159 thousand tons, and tea production increased by 54.7 thousand tons.

Meanwhile, the company's total assets increased by 3.8% to Rp132 trillion and equity increased by 9.8% to Rp54.6 trillion.

"Improving financial performance is an important key to the success of business transformation because it can ensure the sustainability of PTPN Group in the future," he added.

In carrying out the financial transformation, PTPN Group has four main principles: sustainable business, comprehensive, cash flow consolidation, and transparency. Financial transformation is divided into short-term and long-term financial transformations, including managing and settling debt, improving financial performance, increasing EBITDA, and controlling investment.